<SEC-DOCUMENT>0001079973-25-001170.txt : 20250723
<SEC-HEADER>0001079973-25-001170.hdr.sgml : 20250723
<ACCEPTANCE-DATETIME>20250723083019
ACCESSION NUMBER:		0001079973-25-001170
CONFORMED SUBMISSION TYPE:	424B3
PUBLIC DOCUMENT COUNT:		7
FILED AS OF DATE:		20250723
DATE AS OF CHANGE:		20250723

FILER:

	COMPANY DATA:	
		COMPANY CONFORMED NAME:			DUOS TECHNOLOGIES GROUP, INC.
		CENTRAL INDEX KEY:			0001396536
		STANDARD INDUSTRIAL CLASSIFICATION:	SERVICES-PREPACKAGED SOFTWARE [7372]
		ORGANIZATION NAME:           	06 Technology
		EIN:				650493217
		STATE OF INCORPORATION:			FL
		FISCAL YEAR END:			1231

	FILING VALUES:
		FORM TYPE:		424B3
		SEC ACT:		1933 Act
		SEC FILE NUMBER:	333-288666
		FILM NUMBER:		251141688

	BUSINESS ADDRESS:	
		STREET 1:		7660 CENTURION PARKWAY
		STREET 2:		SUITE 100
		CITY:			JACKSONVILLE
		STATE:			FL
		ZIP:			32256
		BUSINESS PHONE:		904-296-2807

	MAIL ADDRESS:	
		STREET 1:		7660 CENTURION PARKWAY
		STREET 2:		SUITE 100
		CITY:			JACKSONVILLE
		STATE:			FL
		ZIP:			32256

	FORMER COMPANY:	
		FORMER CONFORMED NAME:	DUOS TECHNOLOGY GROUP, INC.
		DATE OF NAME CHANGE:	20150710

	FORMER COMPANY:	
		FORMER CONFORMED NAME:	INFORMATION SYSTEMS ASSOCIATES, INC.
		DATE OF NAME CHANGE:	20070416
</SEC-HEADER>
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<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0"><B></B></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: right"><B>Filed Pursuant to Rule 424(b)(3)</B></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: right"><B>Registration No. 333-288666</B></P>

<P STYLE="font: 1pt Times New Roman, Times, Serif; margin: 0 0 1pt"></P>

<P STYLE="font: 12pt Times New Roman, Times, Serif; margin: 0; text-align: justify">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0 0 12pt; text-align: center"><B>DUOS TECHNOLOGIES GROUP, INC.</B></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0 0 12pt; text-align: center"><B>4,789,273 Shares of Common Stock Offered
by Selling Stockholders</B></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0 0 12pt; text-align: justify">This prospectus relates to the offering and
resale by the Selling Stockholders identified herein of up to 4,789,273 shares of common stock, par value $0.001 per share (the &#8220;Common
Stock&#8221;), of Duos Technologies Group, Inc. (the &#8220;Company&#8221;) issuable upon the conversion of a total of 12,500 shares of
Series E Convertible Preferred Stock, par value $0.001 per share (the &#8220;Series E Preferred Stock&#8221;). In private placements we
issued (i) 4,000 shares of Series E Preferred Stock on March 27, 2023, (ii) 7,500 shares of Series E Preferred Stock on November 9, 2023,
and (iii) 2,125 shares of Series E Preferred Stock on March 22, 2024. Of the total 13,625 shares of Series E Preferred Stock issued, 12,500
shares remain outstanding and held by the Selling Stockholders.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0 0 12pt; text-align: justify">The conversion price of the Series E Preferred
Stock originally was $3.00 per share. The Securities Purchase Agreements pursuant to which the Company issued the shares of Series E Preferred
Stock provided that the Company, through December 31, 2024, could not issue shares of Common Stock, with certain exceptions, at a price
per share less than the conversion price of the Series E Preferred Stock without the consent of the holders of 66.6% of the outstanding
shares of Series E Preferred Stock. The holders of the Series E Preferred Stock consented to the issuance by the Company of shares of
Common Stock at $2.61 per share on September 19, 2024, and, in connection therewith, the Company agreed to reduce the conversion price
of the Series E Preferred Stock from $3.00 to $2.61. As a result, the total shares of Common Stock issuable upon conversion of the 12,500
shares of Series E Stock increased from 4,166,667 shares to 4,789,273 shares.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0 0 12pt; text-align: justify">The Selling Stockholders may from time to time
sell, transfer, or otherwise dispose of any or all of the securities in a number of different ways and at varying prices. See &#8220;<A HREF="#a_0008">Plan of Distribution</A>&#8221; beginning on page 30 of this prospectus for more information.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0 0 12pt; text-align: justify">We are not selling any shares of Common Stock
in this offering, and we will not receive any proceeds from the sale of shares by the Selling Stockholders.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0 0 12pt; text-align: justify">Our Common Stock is currently quoted on the
Nasdaq Capital Market under the symbol &#8220;DUOT.&#8221; On July 7, 2025, the closing price as reported on the Nasdaq Capital Market
was $7.85 per share. This price will fluctuate based on the demand for our Common Stock.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0 0 12pt; text-align: justify">The Selling Stockholders may offer all or part
of the shares for resale from time to time through public or private transactions, at either prevailing market prices or at privately
negotiated prices.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0 0 12pt; text-align: justify">This prospectus provides a general description
of the securities being offered. You should read this prospectus and the registration statement of which it forms a part before you invest
in any securities.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0 0 12pt; text-align: justify"><B>Investing in our securities involves a high
degree of risk. See &#8220;<A HREF="#a_0004">Risk Factors</A>&#8221; beginning on page 20 of this prospectus for a discussion of information that should be
considered in connection with an investment in our securities.</B></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0 0 12pt; text-align: justify"><B>Neither the Securities and Exchange Commission
nor any state securities commission has approved or disapproved of these securities or determined if this prospectus is truthful or complete.
Any representation to the contrary is a criminal offense.</B></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: center">The date of this prospectus is July 22, 2025</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0">&#160;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0">&#160;</P>


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<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0"><B>&#160;</B></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0 0 12pt; text-align: center"><B>TABLE OF CONTENTS</B></P>

<TABLE CELLSPACING="0" CELLPADDING="0" STYLE="font: 10pt Times New Roman, Times, Serif; width: 100%; border-collapse: collapse">
  <TR STYLE="vertical-align: bottom">
    <TD STYLE="width: 95%; text-align: center">&#160;</TD>
    <TD STYLE="border-bottom: black 1pt solid; width: 5%; text-align: center"><FONT STYLE="font-size: 8pt"><B>PAGE</B></FONT></TD></TR>
  <TR STYLE="vertical-align: bottom">
    <TD>&#160;</TD>
    <TD STYLE="text-align: right">&#160;</TD></TR>
  <TR STYLE="vertical-align: bottom; background-color: #CCEEFF">
    <TD><A HREF="#a_0001">Prospectus Summary</A></TD>
    <TD STYLE="text-align: right">1</TD></TR>
  <TR STYLE="vertical-align: bottom">
    <TD><A HREF="#a_0002">The Offering</A></TD>
    <TD STYLE="text-align: right">14</TD></TR>
  <TR STYLE="vertical-align: bottom; background-color: #CCEEFF">
    <TD><A HREF="#a_0003">Summary of Consolidated Financial Information</A></TD>
    <TD STYLE="text-align: right">15</TD></TR>
  <TR STYLE="vertical-align: bottom">
    <TD><A HREF="#a_0004">Risk Factors</A></TD>
    <TD STYLE="text-align: right">20</TD></TR>
  <TR STYLE="vertical-align: bottom; background-color: #CCEEFF">
    <TD><A HREF="#a_0005">Cautionary Note Regarding Forward-Looking Statements</A></TD>
    <TD STYLE="text-align: right">26</TD></TR>
  <TR STYLE="vertical-align: bottom">
    <TD><A HREF="#a_0006">Use of Proceeds</A></TD>
    <TD STYLE="text-align: right">27</TD></TR>
  <TR STYLE="vertical-align: bottom; background-color: #CCEEFF">
    <TD><A HREF="#a_0007">Selling Stockholders</A></TD>
    <TD STYLE="text-align: right">28</TD></TR>
  <TR STYLE="vertical-align: bottom">
    <TD><A HREF="#a_0008">Plan of Distribution</A></TD>
    <TD STYLE="text-align: right">30</TD></TR>
  <TR STYLE="vertical-align: bottom; background-color: #CCEEFF">
    <TD><A HREF="#a_0009">Market for Common Equity and Related Shareholder Matters</A></TD>
    <TD STYLE="text-align: right">32</TD></TR>
  <TR STYLE="vertical-align: bottom">
    <TD><A HREF="#a_0010">Management&#8217;s Discussion and Analysis of Financial Condition and Results of Operations</A></TD>
    <TD STYLE="text-align: right">32</TD></TR>
  <TR STYLE="vertical-align: bottom; background-color: #CCEEFF">
    <TD><A HREF="#a_0011">Business</A></TD>
    <TD STYLE="text-align: right">48</TD></TR>
  <TR STYLE="vertical-align: bottom">
    <TD><A HREF="#a_0013">Directors, Executive Officers and Corporate Governance</A></TD>
    <TD STYLE="text-align: right">59</TD></TR>
  <TR STYLE="vertical-align: bottom; background-color: #CCEEFF">
    <TD><A HREF="#a_0014">Executive Compensation</A></TD>
    <TD STYLE="text-align: right">64</TD></TR>
  <TR STYLE="vertical-align: bottom">
    <TD><A HREF="#a_0015">Security Ownership of Certain Beneficial Owners and Management</A></TD>
    <TD STYLE="text-align: right">68</TD></TR>
  <TR STYLE="vertical-align: bottom; background-color: #CCEEFF">
    <TD><A HREF="#a_0016"><FONT STYLE="font-size: 10pt">Certain Relationships and Related Party Transactions</FONT></A></TD>
    <TD STYLE="text-align: right"><FONT STYLE="font-size: 10pt">69</FONT></TD></TR>
  <TR STYLE="vertical-align: bottom">
    <TD><FONT STYLE="font-size: 10pt"><A HREF="#a_0017">Description of Capital Stock</A></FONT></TD>
    <TD STYLE="text-align: right"><FONT STYLE="font-size: 10pt">70</FONT></TD></TR>
  <TR STYLE="vertical-align: bottom; background-color: #CCEEFF">
    <TD><FONT STYLE="font-size: 10pt"><A HREF="#a_0018">Interests of Named Experts and Counsel</A></FONT></TD>
    <TD STYLE="text-align: right"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">73</FONT></TD></TR>
  <TR STYLE="vertical-align: bottom">
    <TD><FONT STYLE="font-size: 10pt"><A HREF="#a_0019">Where You Can Find More Information</A></FONT></TD>
    <TD STYLE="text-align: right"><FONT STYLE="font-size: 10pt">73</FONT></TD></TR>
  <TR STYLE="vertical-align: bottom; background-color: #CCEEFF">
    <TD><A HREF="#a_0020">Incorporation of Certain Information by Reference</A></TD>
    <TD STYLE="text-align: right">73</TD></TR>
  <TR STYLE="vertical-align: bottom">
    <TD><A HREF="#a_00021">Index to Consolidated Financial Statements</A></TD>
    <TD STYLE="text-align: right">F-1</TD></TR>
  </TABLE>
<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify">&#160;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0 0 12pt; text-align: justify">This prospectus is part of a registration statement
that we have filed with the Securities and Exchange Commission (the &#8220;SEC&#8221; or the &#8220;Commission&#8221;). By using such
a registration statement, the Selling Stockholders may, from time to time, offer and sell shares of our common stock pursuant to this
prospectus. It is important for you to read and consider all of our information contained in this prospectus before making any decision
whether to invest in the common stock. You should also read and consider the information contained in the documents that we have incorporated
by reference as described in &#8220;Where You Can Find More Information,&#8221; and &#8220;Incorporation of Certain Information by Reference&#8221;
in this prospectus.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0 0 12pt; text-align: justify">We and the Selling Stockholders have not authorized
anyone to give any information or to make any representations different from that which is contained or incorporated by reference in this
prospectus in connection with the offer made by this prospectus and, if given or made, such information or representations must not be
relied upon as having been authorized by the Company or any Selling Stockholder. Neither the delivery of this prospectus nor any sale
made hereunder and thereunder shall under any circumstances create an implication that there has been no change in the affairs of the
Company since the date hereof. You should assume that information contained in this prospectus is accurate only as of the date on the
front cover hereof. Our business, financial condition, results of operations and prospects may have changed since that date. This prospectus
does not constitute an offer or solicitation by anyone in any state in which such offer or solicitation is not authorized or in which
the person making such offer or solicitation is not qualified to do so or to anyone to whom it is unlawful to make such offer or solicitation.</P>


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<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0"><B>&#160;</B></P>

<P STYLE="font: bold 10pt Times New Roman, Times, Serif; margin: 0 0 12pt; text-transform: uppercase; text-align: center"><FONT ID="a_0001"></FONT>PROSPECTUS SUMMARY</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0 0 12pt; text-align: justify"><I>This summary highlights selected information
appearing elsewhere in this prospectus. While this summary highlights what we consider to be important information about us, you should
carefully read this entire prospectus before investing in our common stock, especially the risks and other information we discuss under
the headings &#8220;Risk Factors&#8221; and &#8220;Management&#8217;s Discussion and Analysis of Financial Condition and Results of Operations&#8221;
and our consolidated financial statements and related notes beginning on page F-1. Our fiscal year end is December 31 and our fiscal years
ended December 31, 2023 and 2024 are sometimes referred to herein as fiscal years 2023 and 2024, respectively. Some of the statements
made in this prospectus discuss future events and developments, including our future strategy and our ability to generate revenue, income,
and cash flow. These forward-looking statements involve risks and uncertainties which could cause actual results to differ materially
from those contemplated in these forward-looking statements. See &#8220;<A HREF="#a_0005">Cautionary Note Regarding Forward-Looking Statements</A>&#8221;. Unless
otherwise indicated or the context requires otherwise, the words &#8220;we,&#8221; &#8220;us,&#8221; &#8220;our&#8221;, the &#8220;Company&#8221;
or &#8220;our Company&#8221; or &#8220;Duos&#8221; refer to Duos Technologies Group, Inc., a Florida corporation, and our wholly owned
subsidiaries, Duos Technologies, Inc., Duos Edge AI, Inc. and Duos Energy Corporation.</I></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0 0 12pt"><B>Our Corporate History</B></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0 0 12pt; text-align: justify">Information Systems Associates, Inc. (&#8220;ISA&#8221;)
was incorporated in Florida on May 31, 1994. Our original business operations consisted of consulting services for asset management of
large corporate data centers and the development and licensing of information technology (&#8220;IT&#8221;) asset management software.
In late 2014, ISA entered negotiations with Duos Technologies, Inc. (&#8220;duostech&#8482;&#8221;) for the purposes of executing a merger
between the two organizations (also known as a &#8220;reverse triangular merger&#8221;). Incorporated under the laws of Florida on November
30, 1990, duostech&#8482; operated in various industry segments, specializing in the design, development and deployment of proprietary
technology applications and turn-key engineered systems. This transaction was completed on April 1, 2015, whereby duostech&#8482; became
a wholly owned subsidiary of ISA. After the merger was completed, ISA changed its corporate name to Duos Technologies Group, Inc. (&#8220;Duos&#8221;
or &#8220;the Company&#8221;). During 2024, the Company began a major expansion into new markets, leveraging the developments previously
undertaken and the experience of its management team. Still headquartered in Jacksonville, Florida, Duos now manages three, wholly owned
subsidiaries, duostech&#8482;, Duos Edge AI Inc. (&#8220;Duos Edge&#8221;) and Duos Energy Corporation (&#8220;Duos Energy&#8221;). In
its current operations it now employs approximately 100 people in management, operations, engineering, software development, customer
support and project implementation and management across three major market segments including rail technology deployment, Data Center
co-location facilities and behind the meter electrical power provision. Duos also continues to operate as a technology company which designs,
develops, deploys and operates intelligent technology solutions with a focus on software applications and artificial intelligence (&#8220;AI&#8221;)
in addition to large project, consulting, implementation and asset management. The Company has a strong and growing portfolio of intellectual
property including significant patent awards in the areas of railcar scanning technology for the identification of defects. The Company&#8217;s
headquarters are located at 7660 Centurion Parkway, Suite 100, Jacksonville, Florida 32256 and main telephone number is (904) 296-2807.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0 0 12pt"><B>Overview</B></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0 0 12pt; text-align: justify">The Company, operating under its brand name
<FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 8pt; color: #548DD4"><B>duos</B></FONT><B><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 8pt">tech</FONT></B>,
develops and deploys technology systems with focus on inspecting and evaluating moving vehicles. Its technology focus is within the Vision
Technology market sector and, more specifically, the Machine Vision subsector. Machine Vision companies provide imaging-based automatic
inspection and analysis for process control for industry with potential expansion into other markets. Duos has developed key technologies
over the past several years in software, industry specific hardware and artificial intelligence and has demonstrated industrial strength
usability of its systems supporting rail, logistics and intermodal businesses that streamline operations, improve safety and reduce costs.
Our team includes engineering subject matter expertise in hardware, software, and information technology as well as industry specific
applications of artificial intelligence also referred to as Expert Artificial Intelligence. We also have specific industry experts in
the rail industry on staff and as consultants.&#160;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0 0 12pt; text-align: justify">In 2024, the Company&#8217;s management team
determined that it would be in the best interests of the Company and its shareholders to leverage the skills and expertise that have been
built up since 2021 to expand into complimentary and naturally adjacent markets. Duos will continue to develop industry solutions for
its target markets addressing rail, trucking, aviation and other vehicle-based processes. In addition, the Company elected to develop
new offerings based on its existing technology and formed a new subsidiary in July 2024, Duos Edge AI. The objective of this new subsidiary
is to market a special part of the Railcar Inspection Portal (&#8220;RIP&#8221;) for the provision of high-speed and function processing
of data and applications with a focus on reducing latency in response times to end-users. Duos has many years of experience via its expert
staff in bringing these types of capabilities to remote locations, also known as &#8220;the edge&#8221;. Edge processing can be an extremely
efficient and lower cost alternative to traditional data centers. The strategy for Duos Edge is to serve rural communities, also known
as Tier 3 and 4 markets, and install Edge data centers in these locations thereby providing access to highspeed communications and advanced
processing capabilities as a substitute for solutions where large amounts of data are &#8220;backhauled&#8221; using &#8220;the Cloud&#8221;.
Duos developed these capabilities as an adjunct to its RIP offerings due to the need for fast results (less than 60 seconds) in identifying
defects and maintenance issues on moving railcars.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0 0 12pt; text-align: justify"></P>

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<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0 0 12pt; text-align: justify">As Duos&#8217; initial offering, the RIP provides
both freight and transit railroad customers and select government agencies the ability to conduct fully remote railcar inspections of
trains while they are moving at full speed. The RIP utilizes a variety of sophisticated optical, laser and speed sensors to scan each
passing railcar to create a high-resolution image-set of the top, sides and undercarriage. These images are then processed with our edge
data center using artificial intelligence (AI) algorithms to identify safety and security defects on each railcar. The algorithms are
developed in conjunction with industrial application experts, in this case resident Railcar Mechanical Engineers, to provide specific
guidance in the analysis (&#8220;human in the loop&#8221;). Within seconds of the railcar passing through the RIP, a detailed report is
sent to the customer where they are able to take action on identified issues. This solution has the potential to transform the railroad
industry immediately increasing safety, improving efficiency and reducing costs. The Company has already deployed this system with several
Class 1 railroads and anticipates an increased demand from transit and other railroad customers along with selected government agencies
that operate and/or manage rail traffic. The Company has deployed RIPs in Canada, Mexico and the United States and anticipates expanding
this solution into Europe, Asia and the Middle East in coming years.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0 0 12pt; text-align: justify">Duos has been successful in patenting much
of its technology and specifically for the rail industry offerings. Key patents include:</P>

<TABLE CELLPADDING="0" CELLSPACING="0" STYLE="font: 10pt Times New Roman, Times, Serif; width: 100%; margin-top: 0; margin-bottom: 0"><TR STYLE="vertical-align: top">
<TD STYLE="width: 0.5in"></TD><TD STYLE="width: 0.25in">&#183;</TD><TD STYLE="text-align: justify">Use of Artificial Intelligence (&#8220;AI&#8221;) to detect defects in trains and method to use (US 11,891,098
B1)</TD></TR></TABLE>

<TABLE CELLPADDING="0" CELLSPACING="0" STYLE="font: 10pt Times New Roman, Times, Serif; width: 100%; margin-top: 0; margin-bottom: 0"><TR STYLE="vertical-align: top">
<TD STYLE="width: 0.5in"></TD><TD STYLE="width: 0.25in">&#183;</TD><TD STYLE="text-align: justify">Device to Capture High Resolution Images of a train as it passes through an inspection portal (US 11,974,035
B1)</TD></TR></TABLE>

<TABLE CELLPADDING="0" CELLSPACING="0" STYLE="font: 10pt Times New Roman, Times, Serif; width: 100%; margin-top: 0; margin-bottom: 0"><TR STYLE="vertical-align: top">
<TD STYLE="width: 0.5in"></TD><TD STYLE="width: 0.25in">&#183;</TD><TD STYLE="text-align: justify">Device to Capture High Resolution Images of the undercarriage of a freight car (US 12,188,846 B2)&#160;</TD></TR></TABLE>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0">&#160;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0 0 12pt; text-align: justify">These three recent patents, in conjunction
with 8 other patents, put Duos in a dominant position for this type of scanning technology (also known as &#8220;Wayside Technology&#8221;)
and the Company expects to both deploy systems and, where appropriate, license to users or manufacturers. The Company has previously notified
certain third parties of the existence of these patents to secure its rights in regard to this intellectual property.&#160;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0 0 12pt; text-align: justify">The Company has also developed the Automated
Logistics Information System (ALIS) which can automate gatehouse operations where transport trucks enter and exit large logistics and
intermodal facilities. This solution incorporates a similar set of sensors, data processing and artificial intelligence to streamline
the customer&#8217;s logistics transactions and tracking and can also automate the security and safety inspection if called for. The Company
has previously deployed this system with one large North American retailer. While Duos originally anticipated increased demand from other
large retailers, railroad intermodal operators and select government agencies that manage logistics and border crossing points, the Company
has been resource constrained to effectively market this offering. However, the Company continues to perform research and development
in evaluating other solutions for moving vehicles including aircraft, which could provide similar benefits in terms of safety and efficiency
for required inspections as part of an operations process. The Company will continue to evaluate its resource commitments in future years
in conjunction with the expected growth in revenues and cash flow to support additional investments in these areas.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0 0 12pt; text-align: justify">Also in late 2024, Duos formed a third subsidiary,
Duos Energy Corporation (&#8220;Duos Energy&#8221;) with the express purpose of providing consulting services and solutions for the rapidly
growing demand for electrical power outside of traditional utilities. As an outgrowth of its new Edge Data Center subsidiary, and the
current expert staff on-hand, Duos has engaged with multiple third parties to act in a consulting and asset management capacity whereby
Duos staff will be engaged directly to supply this type of power solutions for multiple uses including for large data centers supporting
AI &#8220;hyperscalers&#8221;. In late 2024, Duos also engaged with Fortress Investment Group (&#8220;FIG&#8221;) to assist in FIG&#8217;s
purchase of approximately 850 Mega Watts of electrical generation capacity (consisting of 30 mobile gas turbine generators) and associated
equipment to support their installation and operation (&#8220;balance of plant&#8221;), certain trademarks and domain names and certain
contracts. In late November 2024, Sawgrass Buyer, LLC (&#8220;Sawgrass&#8221;), an entity formed and owned by FIG, executed an asset purchase
agreement with Atlas Corporation, APR Energy Holdings Limited and a number of its wholly-owned affiliates (collectively &#8220;APR&#8221;).
From 2018 to 2020, Chuck Ferry, our CEO, was formerly the CEO of APR. The transaction closed on December 31, 2024. At closing, Sawgrass
entered into an Asset Management Agreement (&#8220;AMA&#8221;) with Duos under which a substantial portion of Duos staff and some members
of the management team (including Mr. Ferry), would oversee operations of Sawgrass. The AMA term is up to two years and is expected to
generate approximately $42 million in revenue for Duos over that period. At closing, Duos also took a 5% ownership stake in Sawgrass APR
Holdings LLC, the ultimate parent company of Sawgrass. Subsequent to closing, Sawgrass changed its name to New APR Energy, LLC (&#8220;New
APR&#8221;).&#160;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0 0 12pt; text-align: justify">Under the terms of the AMA, Duos staff is conducting
all operations for commercial engagement, planning and project management, installation and operations of the New APR assets. The new
entity shares certain management functions with Duos including the CEO, COO, Chief Commercial Officer and General Counsel and other service
provided by Duos in a combination of direct staffing with specific experience in the power generation industry and other functions as
necessary via a &#8220;shared services&#8221; agreement. New APR will have its own President and Chief Financial Officer and while in
the early stages, certain accounting staff will be supplied via the shared services arrangement, it is expected that New APR will develop
its own accounting and administration functions. It is expected that there will be a strong correlation between the two companies, particularly
in the areas of Data Center power generation and business development and Duos is expected to participate in these opportunities in addition
to the anticipated revenues from the AMA.</P>

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<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0 0 12pt"><B>Intelligent Technologies</B></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0 0 12pt; text-align: justify">Duos has developed two proprietary solutions
that continue to form the basis for the operations of our data capture, user interface software and artificial intelligence based analytics.
<FONT STYLE="background-color: white"><B>cen</B></FONT><B><FONT STYLE="color: #548DD4">t</FONT><FONT STYLE="background-color: white">raco</FONT><SUP>&#174;
</SUP></B>is an Enterprise Information Management Software platform that consolidates data and events from multiple sources into a unified
and distributive user interface. Customized to the end user&#8217;s Concept of Operations (CONOPS), it provides improved situational awareness
and data visualization for operational objectives compared to traditional manual inspections. <FONT STYLE="color: #548DD4"><B>true</B></FONT><B><FONT STYLE="background-color: white">vue</FONT>360<SUP>&#8482;
</SUP></B>is our fully integrated platform that we utilize to develop and deploy Artificial Intelligence (AI) algorithms, including Machine
Learning, Computer Vision, Object Detection and Deep Neural Network-based processing for real-time applications.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0 0 12pt; text-align: justify">These same Artificial Intelligence applications
are creating other opportunities for the Company to provide revenue producing solutions with potentially high market adoption.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0 0 12pt; text-align: justify">In 2021, the Company ended support of its IT
Asset Management (ITAM) solution which cataloged results for data center asset inventory and audit services. We are now using our current
operations experience within &#8220;edge data centers&#8221; (as deployed for our Railcar Inspection Portal) to drive additional revenues
within other markets requiring this type of solution. As previously discussed, the formation of a new subsidiary, Duos Edge focuses on
this rapidly growing market, and is well suited to contribute to the growth of the Company&#8217;s revenues and predicted future profitability.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0 0 12pt; text-align: justify">In the last quarter of 2022, the Company elected
not to renew a support contract for its Integrated Correctional Automation System (iCAS) for one customer. The Company subsequently sold
its iCAS assets to a buyer during the second quarter of 2023 for $165,000 via a convertible note. Our current CFO is a related party of
the buyer as its non-Executive Chairman.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0 0 12pt; text-align: justify">The year 2024 was a transformative year for
Duos with the addition of two new subsidiaries addressing the adjunct Edge Data Center market and the power generation market, utilizing
much of the skills and expertise inherent in the staff that has been built up in the past 24 months. All three businesses made significant
progress during 2024 including:</P>

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    <TD STYLE="padding-bottom: 6pt; text-align: justify">Execution of a long-term agreement with a major Class 1 railroad for the support of the &#8220;subscription&#8221; based offering, giving access to data and images by a much broader target market including Class 1 railroads, railcar owners and lessors, and short-line railroads.</TD></TR>
  </TABLE>
<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0">&#160;</P>

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    <TD STYLE="width: 7px">&#160;</TD>
    <TD STYLE="padding-bottom: 6pt; text-align: justify">Development of a modular &#8220;RIP&#8221; allowing the capability of much greater customization of desired images and an overall lower cost to potential purchasers.</TD></TR>
  </TABLE>
<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0">&#160;</P>

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    <TD STYLE="width: 7px">&#160;</TD>
    <TD STYLE="padding-bottom: 6pt; text-align: justify">Sales of customized RIPs to industrial companies where specialized applications or routes demand a bespoke solution.</TD></TR>
  </TABLE>
<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0">&#160;</P>

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    <TD STYLE="width: 7px">&#160;</TD>
    <TD STYLE="padding-bottom: 6pt; text-align: justify">Entrance into the market for edge computing by targeting key opportunities within the Tier 3 and 4 markets for education and supplying specialized data centers to serve those markets in conjunction with providing computing and telecommunications capacity to commercial customers outside of the rail industry.</TD></TR>
  </TABLE>
<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0">&#160;</P>

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    <TD STYLE="width: 7px">&#160;</TD>
    <TD STYLE="padding-bottom: 6pt; text-align: justify">Offering consulting, asset management including full organizational implementation and support, with operational capabilities for the power generation market focusing on data center operations.</TD></TR>
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<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify">&#160;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0 0 12pt"><B>Operating Subsidiaries</B></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0 0 12pt"><FONT STYLE="color: #548DD4"><B>duos</B></FONT><B>tech&#8482;</B></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0 0 12pt; text-align: justify">The Company currently operates in three distinct
but related segments. While these newer businesses remain in the early stages of development, one has begun generating revenue, whereas
the other has not as of March 31, 2025. Accordingly, for purposes of segment reporting under ASC 280, the Company has determined that
it operates in a single reportable segment, as the Chief Operating Decision Maker currently evaluates financial performance and allocates
resources on a consolidated basis. The Company markets itself collectively under the Duostech&#8482; brand name, which broadly covers
the Company&#8217;s commercial activities within a wide range of technology deployments from sophisticated moving vehicle analysis using
machine vision and AI to deployment of specialized data centers and operational deployment of alternatives to grid power through its relationship
with New APR.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0 0 12pt">Duos Technologies, Inc.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0 0 12pt; text-align: justify">Duos Technologies, until recently, was our
sole operating entity and is currently being led by our Chief Technology Officer. Its mission is to develop leading edge technologies
as Duos has done since its inception. It consists of a dedicated team of developers focused on creating solutions for the transportation
industry and has spent much of the past five years focused on building the premier offering for large rail operators. It has been successful
in securing 11 patents that cover much of the &#8220;best in class&#8221; wayside technology offerings.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0 0 12pt"></P>

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<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0 0 12pt"><B><I>Railcar Inspection Portal</I> (r<FONT STYLE="color: #548DD4">i</FONT>p&#174;)</B></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0 0 12pt; text-align: justify">The RIP is our premier offering for the scanning
and analysis of railcars while they are in motion. Federal regulations require each railcar/train to be inspected for mechanical defects
prior to leaving a rail yard. Founded in 1934, the Association of American Railroads (AAR) is responsible for setting the standards for
the safety and productivity of the U.S./North American freight rail industry, and by extension, has established the inspection parameters
for the rail industry&#8217;s rolling stock. Also known as the &#8220;Why Made&#8221; codes, the AAR established approximately 110 inspection
points under its guidelines for mechanical inspections.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0 0 12pt; text-align: justify">Under current practice, inspections are conducted
manually, a very labor intensive and inefficient process that only covers a select number of inspection points and can take several hours
per train. Our RIP reduces this inspection to minutes while the train is moving at speed, improving safety, reducing dwell time and optimizing
maintenance.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0 0 12pt; text-align: justify">Our system combines high-definition image and
data capture technologies with our AI-based analytics applications that are typically installed on active tracks located between two rail
yards. We inspect railcars traveling through our inspection portal at speeds of up to 70 mph for freight and up to 125 mph for high-speed
transit and report mechanical anomalies detected by our system to the inbound train yard, well ahead of the train entering the yard.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0 0 12pt; text-align: justify">Currently, three Class 1 railroads and several
transit and international railroads have deployed our RIP with one of those railroads broadly deploying the technology across its network.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0 0 12pt; text-align: justify">The Company continues to expand its detection
capabilities through the development and integration of additional sensor technologies to include laser, infrared, thermal, sound and
signal detection to process AI-based analytics of inspection points. Currently the Company has a high-reliability catalog of over 53 proprietary
artificial intelligence algorithms which can be integrated into the RIP to enhance mechanical anomalies detections. These detections support
railroads in the active maintenance and overall safety of their railcar fleet and networks.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0 0 12pt"><B>Railcar Inspection Portal (RIP) Business Overview and 2024 Technical
Advancements</B></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0 0 12pt; text-align: justify">Over the past year, we transformed our technical
solutions, redefined our business model, and reimagined the way we work. Through continued investment in research and development we have
fortified and further commercialized our existing product offerings. We have made them more scalable and rolled out features and capabilities
that speak directly to customer value. We have reached new markets and restructured how we promote, sell, and get paid.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0 0 12pt; text-align: justify">As part of our continued focus on innovation
and operational efficiency, we have made significant strides in the following technical areas:</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0 0 12pt"><B>System Modularity &#8211; Adapting to Customer Needs</B></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0 0 12pt; text-align: justify">Historically, our RIP was delivered as a comprehensive,
standardized system. In 2024, we shifted towards a modular design approach, enabling customers to tailor RIP deployments to their specific
operational and regulatory requirements. This modularity allows for easier integration, reduced installation time, and optimized cost-efficiency,
as customers can now select only the Acquisition Modules (perspectives) they require. Whether a customer needs undercarriage railcar imaging
only or a full 360-degree all-around view, our new modular approach ensures that RIP solutions are adaptable to various industry needs.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0 0 12pt; text-align: justify">Moreover, this modularity is reflected in how
we promote and get paid for the RIP. Instead of a single, overarching software license, each Acquisition Module (formerly called a &#8220;perspective&#8221;)
is now licensed separately under an annual software subscription model. This shift allows customers to pay only for the specific modules
they require, making the system more flexible and scalable while increasing long-term revenue generation. Additionally, we have eliminated
licensing fees for &#34;Centraco&#34;, our system&#8217;s central UI, ensuring seamless adoption and usability across deployments. By
moving to a per-module software licensing model, we have created a more flexible, scalable revenue structure that aligns pricing with
value, while also enabling us to capture greater recurring revenue from customers as they expand their use of the system over time.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0 0 12pt"><B>RIP-as-a-Service &#8211; A New Business Model for Scalability</B></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0 0 12pt; text-align: justify">In 2024, we introduced RIP-as-a-Service, offering
a flexible deployment and pricing model that lowers the barrier to entry for shippers, manufacturers, short-line railroads, and other
industry stakeholders. RIP-as-a-Service leverages the existing infrastructure of our RIP systems that are already deployed on Class 1
customer railroads. This innovative Software-as-a-Service (SaaS) model goes beyond simply utilizing the hardware, by unlocking the wealth
of safety and mechanical condition data it generates.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0 0 12pt; text-align: justify"></P>

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<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0 0 12pt; text-align: justify">This data is invaluable to a wide range of
stakeholders in the rail industry. Railcar owners and operators can gain real-time insights into the health of their fleets, allowing
for proactive maintenance and reduced downtime. Shippers can track the condition of their cargo throughout its journey, ensuring safe
and timely delivery. Railcar manufacturers can identify potential design flaws or recurring issues through in-field data, improving future
models.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0 0 12pt; text-align: justify">In addition to enabling Duos Technologies to
approach a wider market, the RIP-as-a-Service offering aligns with the broader industry trend toward cloud-based and service-oriented
solutions, making our technology more accessible while ensuring long-term customer retention and recurring revenue growth.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0 0 12pt"><B>Laser Illumination &#8211; Enhanced Visibility &amp; Inspection
Accuracy</B></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0 0 12pt; text-align: justify">One of the most significant technological advancements
in 2024 has been our near completion of Laser Illumination technology for railcar inspections. Traditional lighting methods presented
challenges in harsh environmental conditions, such as low-light environments, extreme weather, and high-speed rail traffic.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0 0 12pt; text-align: justify">By designing and integrating high-intensity,
precision laser illumination, we have improved image quality and clarity, ensuring high-resolution data capture even in adverse conditions.
In addition, we greatly enhanced system durability, as laser technology requires less maintenance and offers longer operational lifespans
compared to traditional lighting solutions. Finally, replacing LED-based lighting with laser field illumination is expected to result
in a 60-70% reduction in hardware cost, allowing for greater margins.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0 0 12pt"><B>Advanced Notifications &#8211; Real-Time Intelligence for Operators</B></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0 0 12pt; text-align: justify">In 2024, we enhanced our notification and alerting
system to deliver real-time actionable insights and alarms to rail operators and railcar maintenance teams. Leveraging AI-driven analytics
and deep integration with customer workflows, our Advanced Notifications feature real-time and close-to-real time alerts on critical railcar
defects, ensuring rapid response and minimized downtime. Utilizing the enhanced notification features along with the RIP&#8217;s comprehensive
API (Application Programming Interface), customers have the ability to integrate alerts and alarms with customer-owned and third party
systems. This capability is particularly useful for integrating with railroad dispatch systems which can be configured to allow critical
real-time alerts to be immediately sent to the locomotive operator.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0 0 12pt"><B>AI-Powered Self-Diagnostics &#8211; Maximizing System Uptime</B></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0 0 12pt; text-align: justify">One of the most groundbreaking advancements
in 2024 has been the development and deployment of AI-powered self-diagnostics across our RIP platforms. This new capability allows our
systems to monitor their own health in real time, detect anomalies, and allow support personnel to proactively address potential issues
before they escalate. With this newly developed technology, we are taking advantage of information we already acquire to help determine
if processes are running according to expectations and within pre-determined operational parameters. For example, several purpose-built
AI models are used to inspect a sampling of images from each train scan. These AI models collectively evaluate and analyze a number of
factors, such as camera operation, camera focus and quality of illuminations. The system then generates a report back to the NOC (Network
Operations Center) alerting operators to current system conditions.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0 0 12pt; text-align: justify">Because the analysis is being performed after
each and every train scan, the information is always timely and up to date. Moreover, the comprehensive and detailed content of the information
significantly decreases the time spent manually troubleshooting abnormal system conditions, allowing personnel to more quickly take action
to address the situation, often times before the customer is aware of the issue.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0 0 12pt; text-align: justify">More than traditional remote diagnostics capabilities,
AI-driven self-diagnostics enables our customers to experience greater system reliability and enhanced operational efficiency, while potentially
decreasing the overall workload and effort for our support personnel.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify">&#160;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify"><IMG SRC="image_001.jpg" ALT="A logo with blue text&#10;&#10;AI-generated content may be incorrect." STYLE="height: 57px; width: 87px"></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify">&#160;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0 0 12pt; text-align: justify">Duos Edge&#8217;s mission is to bring advanced
technology to underserved communities, particularly in education, healthcare, and rural industries, by deploying high-powered edge computing
solutions that minimize latency and optimize performance. Duos Edge specializes in high-function Edge Data Center (&#8220;EDC&#8221;)
solutions tailored to meet evolving needs in any environment. By focusing on providing scalable IT resources that seamlessly integrate
with existing infrastructure, its solutions expand capabilities at the network edge, ensuring data uptime onsite services. With the ability
to provide 100 kW+ per cabinet, rapid 90-day deployment, and continuous 24/7 data services, Duos Edge aims to position its edge data centers
within 12 miles of end users or devices, significantly closer than traditional data centers. This approach enables timely processing of
massive amounts of data for applications requiring real-time response and supporting current and future technologies without large capital
investments.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify">&#160;</P>

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<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify"></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif"><IMG SRC="image_002.jpg" ALT="" STYLE="height: 22px; width: 121px"></FONT></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify">&#160;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0 0 12pt; text-align: justify">Duos Energy plans to build, own and operate
efficient and environmentally friendly U.S. energy projects to support Edge Data Centers and industries where power grid capacity is struggling
to keep up with demand. Beyond data centers, Duos Energy&#8217;s offerings extend to industrial clients in sectors such as manufacturing,
oil and gas, mining, and microgrids. The Company&#8217;s rapid response power plants are designed to meet urgent demands, particularly
in emergency scenarios, underscoring its commitment to providing reliable and flexible energy solutions.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0 0 12pt"><B>New APR Energy</B></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0 0 12pt; text-align: justify">New APR, as of December 31, 2024, owns 850
Mega Watts of power generation assets in the form of 30 mobile gas-powered turbine generators and related equipment to construct power
plants and operate the turbines that were acquired from Atlas Corp. and APR and its affiliates, along with certain trademarks, domain
names and contracts. New APR&#8217;s majority owner is FIG; Duos has a 5% non-voting equity interest in New APR&#8217;s ultimate parent.
Duos&#8217; equity interest has an initial value of approximately $7.2 million. The transaction closed on December 31, 2024. In connection
with the transaction, and the deployment and management of New APR&#8217;s generation assets, Duos negotiated the AMA that became effective
on January 1, 2025. The AMA is expected to be in place for 24 months and is expected to generate $42 million in revenue for Duos during
that period. The AMA also has provisions for extensions. There are significant synergies between Duos and New APR, particularly in the
areas of Data Center power generation and related business development.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0 0 12pt"><B>Markets</B></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0 0 12pt"><I>Market Expansion</I></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0 0 12pt; text-align: justify">In 2024, the Company set in place a strategy,
in concert with the Board of Directors, to expand its target markets beyond the provision of scanning technology for moving vehicles.
The decision was taken to facilitate a faster growth path to profitability and positive free cash flow. After careful consideration, it
was determined that the overall response to the Company&#8217;s offerings in the rail technology sector was overwhelmingly positive but
the market may take more years to fully adopt and the Company needed to factor the amount of capital that might be necessary to achieve
significant market penetration. It was therefore determined that the Company should use its existing technologies and highly skilled resources
to enter markets where the growth path was more defined. This approach fell into two distinct areas:</P>

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    <TD STYLE="width: 24px">1.</TD>
    <TD STYLE="text-align: justify">Adapt some of the technology and processes for high-speed, localized, data processing for the fast-growing demand in data centers to support AI and other compute intensive applications that were already in place for the RIP.</TD></TR>
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<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0">&#160;</P>

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    <TD STYLE="width: 24px">2.</TD>
    <TD STYLE="text-align: justify">Utilize the existing management, operations and engineering skills that were already in place in the Company to enter the fast growing market for &#8220;behind the meter&#8221; electrical power.</TD></TR>
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<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0">&#160;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0 0 12pt; text-align: justify">This approach was formally adopted by the Company
in May 2024, and led to the formation of two new subsidiaries; Duos Edge AI (&#8220;Duos Edge&#8221;) and Duos Energy Corporation (&#8220;Duos
Energy&#8221;). By the end of 2024, both subsidiaries were operating and in position to secure additional revenue streams starting in
2025.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0 0 12pt"><I>Edge Computing</I></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0 0 12pt; text-align: justify">The market for edge data centers is experiencing
significant growth both in the United States and internationally, driven by the increasing demand for faster data processing, lower latency,
and support for emerging technologies like 5G, IoT, and AI. Although not an explicit market target for Duos in the past, in fact, the
Company has wide ranging and extensive experience in the provision of Edge Computing through its RIPs of which 13 are in operation across
North America today with two more under construction on the Northeast US rail corridor. Each of these RIPs has a full edge data center
provisioned complete with the infrastructure (racks, air handling and conditioning, electrical power and security) capable of providing
the high-speed information processing &#8220;at the edge&#8221;, necessary to provide the Duos customers access to the data in under 60
seconds, something that would not be possible by operating via the cloud into a more traditional data center.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0 0 12pt; text-align: justify">Duos is taking advantage of its many years
of operational experience to expand its offerings into key markets requiring localized, high-speed processing.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0 0 12pt"></P>

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<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0 0 12pt">United States Market</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0 0 12pt; text-align: justify">The edge data center market in the United States
is projected to grow substantially, according to Grand View Research. In 2023, the market generated revenues of approximately $2.56 billion
and is expected to reach around $8.34 billion by 2030, with a compound annual growth rate (CAGR) of 18.4% from 2024 to 2030. This growth
is fueled by the need for localized data processing to support applications in IT and telecom, BFSI (banking, financial services, and
insurance), healthcare, manufacturing, and other sectors. Specifically, Duos is initially focused on partnering with rural communities
(Tier 3 and 4 markets) and provisioning Edge Data Centers in these markets for access by both the local governments and distributed processing
requirements for commercial clients who are expected to rent space within Duos Edge data centers. Duos ended 2024 with six Edge data centers
that were in the process of being installed and prepared for operations.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0 0 12pt">International Market</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0 0 12pt; text-align: justify">There are currently no plans to expand Duos
Edge internationally but the Company will look at opportunities if and as they arise. Globally, the edge data center market was valued
at $9.30 billion in 2022 and is expected to grow to $41.60 billion by 2030, exhibiting a CAGR of 20.9% during the forecast period according
to Fortune Magazine &#8220;Insights&#8221;. Key regions driving this growth include North America outside of the US, Europe, Asia-Pacific,
Latin America, and the Middle East &amp; Africa. The market is particularly strong in countries like China, Japan, Germany, and Canada.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0 0 12pt">Key Drivers and Trends</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0 0 12pt; text-align: justify">The following factors are the key drivers behind
the anticipated growth in this market including:</P>

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    <TD STYLE="text-align: justify">5G and IoT Proliferation: The rollout of 5G networks and the expansion of IoT devices are major drivers, as they require edge data centers to handle the increased data traffic and provide low-latency processing.</TD></TR>
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<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0">&#160;</P>

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    <TD STYLE="text-align: justify">AI and Machine Learning: The integration of AI and machine learning technologies is expected to further boost the demand for edge data centers, as these applications often require real-time data processing.</TD></TR>
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<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0">&#160;</P>

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    <TD STYLE="text-align: justify">E-commerce and OTT Services: The growth of e-commerce platforms and over-the-top (OTT) streaming services is also contributing to the demand for edge data centers to ensure faster content delivery and improved user experiences.</TD></TR>
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<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0">&#160;</P>

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    <TD STYLE="text-align: justify">Government Initiatives: Various government initiatives to enhance digital infrastructure and attract investments in smaller data centers are supporting market growth.</TD></TR>
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<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0">&#160;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0 0 12pt; text-align: justify">Despite the promising growth, the market faces
challenges such as high initial investment costs, data security concerns, and the need for skilled professionals to manage and maintain
edge data centers. Duos believes that it addresses each of these areas, giving it advantages in the deployment and provisioning of Edge
Data Centers. For example, due to the long-term nature of financial engagements for leasing rack space, Duos has been successful in attracting
initial funding for its first six edge data centers and expects to be successful in attracting additional capital for expansion. In addition,
the Company&#8217;s long experience in providing this functionality as part of a RIP leads management to believe that it has the ability
to address the other challenges and serve as a key differentiator against other competitors.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0 0 12pt; text-align: justify">Overall, the edge data center market is poised
for robust growth, driven by technological advancements and the increasing need for efficient data processing closer to end-users.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0 0 12pt"><I>Electrical Power Provision</I></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0 0 12pt; text-align: justify">The market for &#34;behind the meter&#34;
(BTM) electrical power solutions is growing rapidly, especially for data centers and other energy-intensive operations. BTM systems allow
facilities to generate their own power on-site or near-site, reducing reliance on the grid and enhancing energy resilience. Although Duos
does not directly own power generation facilities, its management and a considerable number of its staff have wide ranging experience
in deploying this type of solution in a rapid manner where collectively, the staff has installed and operated over 30 different installations
in the past 10 years. In addition, the AMA has significantly advanced Duos&#8217; shareholder value. This increase in value is expected
to be accomplished in the next several years by the following Key Drivers:</P>

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    <TD STYLE="text-align: justify">Rising Energy Demands: Data centers are experiencing soaring energy demand due to the increasing use of AI, cloud services, and IoT.</TD></TR>
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<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0">&#160;</P>

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    <TD STYLE="text-align: justify">Grid Challenges: Obtaining sufficient power from the grid can be challenging due to lengthy interconnection processes and infrastructure limitations.</TD></TR>
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<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0">&#160;</P>

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    <TD STYLE="width: 24px"><FONT STYLE="font-family: Symbol">&#183;</FONT></TD>
    <TD STYLE="text-align: justify">Sustainability Goals: There is a strong push towards renewable energy sources to meet sustainability targets. Duos key personnel are able to integrate renewable energy sources with thermal solutions where natural gas is the cleanest source of thermal energy for the current time.</TD></TR>
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<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify">&#160;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0 0 12pt; text-align: justify"></P>

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<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0 0 12pt; text-align: justify">There are a number of key benefits for the
use of BTM solutions:</P>

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    <TD STYLE="text-align: justify">Cost Savings: By generating power on-site, data centers can reduce energy costs and avoid peak demand charges.</TD></TR>
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<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0">&#160;</P>

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    <TD STYLE="text-align: justify">Faster startup for new operations where new installations are delayed by years due to lack of available grid power.</TD></TR>
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<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0">&#160;</P>

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    <TD STYLE="text-align: justify">Flexibility allowing the deployment to certain regions where the costs of operations may be lower.</TD></TR>
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<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0">&#160;</P>

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    <TD STYLE="text-align: justify">Resilience in that BTM systems provide a reliable power supply, crucial for operations that require high availability.</TD></TR>
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<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0">&#160;</P>

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    <TD STYLE="text-align: justify">Environmental Impact using the ability to utilize renewable energy sources like solar or wind in conjunction with thermal operations.</TD></TR>
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<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0">&#160;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0 0 12pt">Market Outlook</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0 0 12pt; text-align: justify">According to datacenterknowledge.com and powermag.com,
all of the drivers and benefits cited above will drive the BTM energy market growth over the next several years. The market is expected
to grow as more data centers and other facilities adopt these solutions to meet their energy needs sustainably and efficiently. This trend
is driven by the need for reliable power, cost efficiency, and environmental responsibility.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0 0 12pt"><I>In-motion Vehicle Inspection</I></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0 0 12pt; text-align: justify">We believe the opportunity for our RIP business
is substantial and continues to be a priority along with our investments and activities in the new markets recently entered. We are currently
engaged with the RIP solution with three of seven Class 1 railroad operators with 13 systems already deployed across the North American
rail network. Because of our early leadership position, we have been able to accumulate experience and intellectual property that we believe
would be time-consuming and expensive for a new competitor to replicate. In particular, we have expanded our IP portfolio by the addition
of 3 new patents in 2024 alone, with the total number of patents now at 11. Furthermore, we believe we have the ability to upgrade and
scale our solutions with additional technologies in the future. We believe that the current market for our technologies is substantial.
At the same time, we recognize that the technology life cycle is fast and evolving. Potential competitors are moving into this sector,
and some Class 1 railroads are developing their own solutions that could limit our total addressable market.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0 0 12pt; text-align: justify">In late 2022, the Company announced it will
pursue a subscription platform for the RIPs and in 2024, the Company entered a long-term agreement with CN Railways for the management
of seven Duos RIPs owned by them in exchange for full data access to be used for marketing subscription data to approximately 3,000 railcar
owners and lessors. Under this new model, the Company may also build, own and operate its RIP product and offer the data access for each
portal to potential customers. This expansion of the RIP offering would potentially open up the addressable market to other potential
users of the data or even the provision of customized solutions for industrial owners of railcar operations such as the petrochemical
industry. While this shift could increase the pool of potential customers by lowering the entry point for the RIP and potentially reshape
the Company&#8217;s working capital needs to invest in the construction of a RIP ahead of customer revenue inflows, the Company is still
evaluating the potential market for this offering. The Company continues to explore this expansion on the long-term effects it may have
on future cash flows, and remains in discussions with a number of potential customers.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0 0 12pt; text-align: justify">Another market we continue to explore is using
our technologies for the scanning and management of other moving vehicles including trucks, buses and potentially aircraft. Potential
customers include commercial retail logistics and intermodal operators, Class 1 rail intermodal operators that are moving large amounts
of automobiles, and U.S. Government agencies such as the Department of Defense and the Department of Homeland Security. Although we have
previously identified over 900 lanes of traffic within nearly 300 facilities as potential business opportunities in the near-term, we
are not actively pursuing this at this time, but rather deploying our resources to the new markets described above. We continue limited
R&amp;D operations in these areas however and have filed a number of patents for consideration.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0 0 12pt"><B>Patents and Trademarks</B></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0 0 12pt; text-align: justify">The Company owns a number of patents and trademarks
for our technology solutions. We protect our intellectual property rights by relying on federal, state, and common law rights, as well
as contractual restrictions. We control access to our proprietary technology by entering into confidentiality and invention assignment
agreements with all of our employees and contractors, and confidentiality agreements with third parties. We also actively engage in monitoring
activities with respect to infringing uses of our intellectual property by third parties.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0 0 12pt"></P>

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<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0 0 12pt"><B>Specific Areas of Competition</B></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0 0 12pt; text-align: justify">One of our primary commercial goals is to develop
innovative technology solutions and target potential &#8220;greenfield&#8221; market spaces in order to maximize our business footprint
and give us the ability to help define the market parameters for the future. More recently, we have expanded our operations into two additional
markets as described previously. We now operate in three distinct markets, in some cases using related technologies from our different
solutions. For example, the Duos Edge installs and operates Edge data centers that are similar to the RIP Edge Data Centers. Some power
solutions will be related to fast or temporary power provided for our RIPs or EDCs. Nonetheless, competitors are unique to each market
and are described below as they relate to those market segments.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0 0 12pt"><I>Duostech Railcar Inspection Portal</I></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0 0 12pt; text-align: justify">Companies that participate in the visual and
optical (laser) based railcar inspection systems market include Wabtec (Beena Vision), Ensco (KLD Labs), WID, IEM, and Camlin Rail. Some
Class 1 railroads have stated that they are developing &#8220;in-house&#8221; solutions. We believe that Duos has a significant competitive
advantage in that we have multiple years of deployment experience, have access to millions of images where our RIP has performed scans
with AI analysis and in-house industry expertise to train our systems and make identification of common problems more automated. We believe
that some of the Class 1 railroads are deploying platforms for the development of AI algorithms, specifically with Cogniac which could
be construed as competitive with Duos developed Algorithms. In evaluating the performance of these algorithms and based on reports from
our customers, we believe they are having limited success with these self-developed algorithms. While we expect to cooperate with our
customers as necessary, we will reserve the right to refuse such cooperation where we believe that a particular vendor or technology supplier
may be violating our intellectual property. At this time we are investigating at least three such potential conflicts and have notified
each party of potential infringements.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0 0 12pt; text-align: justify">While we have indicated previously that our
Automated Logistics Information System (ALIS) also represents an opportunity to expand into a mature market that we believe has a significant
technology gap we are not aggressively pursuing this market at the present time.&#160; While most facilities, such as distribution centers,
that process commercial trucks in and out have sophisticated software management applications for logistics control, they have most often
not implemented an advanced gatehouse automation solution. Historically, this category was referred to as &#8220;Automated Gate Systems&#8221;
or AGS.&#160; The purpose of AGS technology is to streamline entry in and exit out of facilities.&#160; The marketplace for this was mostly
seaports and intermodal transfer facilities and was relatively expensive technology to deploy.&#160;We will continue to review opportunities
in this market if they arise.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0 0 12pt"><I>Duos Edge AI Datacenters</I></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0 0 12pt; text-align: justify">The edge data center market is highly competitive,
and according to datamation, encora advisors and Polaris market research there are several key players leading the industry. The following
companies are acknowledged to be participants in this market:</P>

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<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0">&#160;</P>

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    <TD STYLE="text-align: justify"><B>EdgeConneX</B> specializes in providing customizable and scalable edge data centers, focusing on reducing latency and improving data processing speed.</TD></TR>
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<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0">&#160;</P>

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    <TD STYLE="text-align: justify"><B>Cloudflare</B> offers edge computing solutions that enhance connectivity and performance, particularly for web applications and content delivery.</TD></TR>
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<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0">&#160;</P>

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<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0">&#160;</P>

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<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify">&#160;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0 0 12pt; text-align: justify">Each of these companies is considered to be
at the forefront of the edge data center market, driving innovation and meeting the growing demand for low-latency, high-performance data
processing.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0 0 12pt; text-align: justify">Duos Edge AI is a recent entrant to the market
although it has been engaged in the provision of high-performance local processing for more than 10 years through the provision of EDCs
connected with its RIP technology. Duos Edge AI differs from the competitors above in the following ways:</P>

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<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0">&#160;</P>

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<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0">&#160;</P>

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<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0">&#160;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0"></P>

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<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0">&#160;</P>

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<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0">&#160;</P>

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<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0">&#160;</P>

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<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify">&#160;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0 0 12pt"><I>Duos Energy Corp Services</I></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0 0 12pt; text-align: justify">Duos Energy Corporation primarily services
the AMA and as such does not have direct competitors. Duos Energy started operations in late 2024 and is expected to be extensively engaged
in support operations for New APR in 2025 and 2026 in conjunction with the AMA. New APR shares some management and operational personnel
with Duos and is engaged in commercial activities to quickly deploy available power assets.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0 0 12pt; text-align: justify">The availability of these assets is a significant
competitive advantage to Duos Edge AI in its growth of the data center business and related opportunities. While competition exists in
these markets, the current high demand for power and lack of available assets puts APR Energy and (indirectly) Duos in a significant position
of competitive advantage.&#160;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0 0 12pt"><B>Our Growth Strategy</B></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0 0 12pt"><B>Vision</B></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0 0 12pt; text-align: justify">The Company designs, develops, deploys and
operates in three distinct but related market segments and deploys intelligent technology solutions in support of the fast growing demand
for efficient data centers, power solutions for immediate implementation of those data centers where grid power is not immediately available
as well as for its original product set for inspecting and evaluating moving objects. The technology application focus has expanded beyond
the traditional rail and intermodal markets and into the world of high-speed data access, low latency communications as well as offering
imaging-based automatic inspection and analysis for process.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0 0 12pt"><B>Objectives</B></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0 0 12pt; text-align: justify">The Company has set itself the following objectives
to support this vision:</P>

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<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0">&#160;</P>

<TABLE CELLSPACING="0" CELLPADDING="0" STYLE="font: 10pt Times New Roman, Times, Serif; width: 100%; border-collapse: collapse">
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<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify"><B><I>&#160;</I></B>&#160;</P>

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<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0">&#160;</P>

<TABLE CELLSPACING="0" CELLPADDING="0" STYLE="font: 10pt Times New Roman, Times, Serif; width: 100%; border-collapse: collapse">
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<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0">&#160;</P>

<TABLE CELLSPACING="0" CELLPADDING="0" STYLE="font: 10pt Times New Roman, Times, Serif; width: 100%; border-collapse: collapse">
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<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0">&#160;</P>

<TABLE CELLSPACING="0" CELLPADDING="0" STYLE="font: 10pt Times New Roman, Times, Serif; width: 100%; border-collapse: collapse">
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<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0"><B>&#160;</B></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0 0 12pt"><B><I>Organic Growth</I></B></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0 0 12pt; text-align: justify">Our organic growth strategy is to generate
significant new business for the Company directly through its new subsidiaries and indirectly through its AMA. We will continue our focus
and prioritization in the rail, logistics and intermodal market space but intend to drive efficiencies in the personnel resources allocated
to that line of business through utilization of key staff in other areas. In this regard, the Company has made significant changes in
the senior management team to include a new divisional President, who joined the Company in July 2024 as the senior leader of our new
subsidiary Duos Edge AI and has more than 30 years of experience successfully leading start-up ventures in the data center industry. In
addition, the appointment of our CEO as the Executive Chairman and CEO of New APR brings Duos leadership to that organization. The team
also saw a change in CFO in Q2 2024 with the return of our former CFO as a highly experienced senior public company executive to assist
the CEO with transforming the Company going forward. Finally, late in 2024, a new Chief Operating Officer was appointed with leadership
skills that span operational environments including the new power industry target for the asset management agreement.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0 0 12pt; text-align: justify"></P>

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<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0 0 12pt; text-align: justify">In addition to the CEO&#8217;s joint role,
the new divisional President serves in a joint role as Chief Commercial Officer at New APR and the newly appointed COO and General Counsel
also serve in joint roles for Duos and New APR. The joint leadership team&#8217;s focus is to oversee operational and technical execution
which will in turn enable the commercial side of the business to expand the Company&#8217;s business into new markets and customers.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0 0 12pt"><B><I>Manufacturing and Assembly</I></B></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0 0 12pt; text-align: justify">The Company designs and develops technology
solutions using a combination of in-house fabrication, commercial off-the-shelf technology, and outsourced manufacturing. This methodology
will continue and be applied to our new subsidiaries where on-site installations are performed using a combination of in-house project
managers and engineers and using third-party sub-contractors as needed. Throughout the process of design, develop, deploy and operate,
the Company maintains responsibility for all aspects. Our internal manufacturing operations consist primarily of materials procurement,
assembly, testing and quality control by our engineers. If not manufactured internally, we use third-party manufacturing partners to produce
our hardware related components and hardware products and we most often complete final assembly, testing and quality control processes
for these components and products. Our manufacturing processes are based on standardization of components across product types, centralization
of assembly and distribution centers, and a &#8220;build-to-order&#8221; methodology in which products generally are built only after
customers have placed firm orders. For most of our hardware products, we have existing alternate sources of supply.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0 0 12pt; text-align: justify">In the rail industry, the time from concept
to contract can be substantial but is offset by an anticipated faster time to market in both the data center and power industries due
to high expected demand for our offerings. Although we are now adapting to these new markets, previous bids that have been submitted in
the rail industry could be challenging to execute within the financial framework and execution times originally envisaged due to significant
delays by one of our major customers. We continue to have dialogue with that customer regarding potential price increases and implementation
delays, but we may suffer some economic impacts because of this. Revenue recognition could be delayed as a result of these factors and
profitability could be impacted due to higher costs for materials and other services in that specific subsidiary. The Company will continue
to monitor the situation and update shareholders as the project progresses.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0 0 12pt"><B><I>Research and Development</I></B></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0 0 12pt; text-align: justify">The Company&#8217;s R&amp;D and software development
teams design and develop all systems and software applications with a combination of full-time in-house software engineers and outside
contractors, although the use of outside contractors was substantially reduced in 2024. Internal development allows us to maintain technical
control over the design and development of our products. Rapid technological advances in hardware and software development, evolving standards
in computer hardware and software technology, and changing customer requirements characterize the markets in which we compete. We plan
to continue to dedicate resources to research and development efforts, including software development, to maintain and improve our current
product and services offerings. We have been successful in obtaining key patents for some of these developments.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0 0 12pt"><B><I>Government Regulations</I></B></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0 0 12pt; text-align: justify">The Company has worked with various agencies
of the federal government for more than 10 years including the Department of Homeland Security (&#8220;DHS&#8221;). When our solutions
have been deployed into these agencies, they meet specific requirements for certification, safety and security that are stipulated in
requirements and contract documents. The Company is currently competing for other government related work and strictly follows the rules
and regulations outlined in the Federal Acquisition Regulations.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0 0 12pt; text-align: justify">The Company&#8217;s rail customers are all
governed by regulations related to the safe and effective transportation of goods and passengers, primarily by rail, but in future scenarios
by air, road and sea. While changes in the regulatory environment could impact the Company in future years, we believe any changes will
be generally positive for the Company. We continuously review potential changes in the regulatory environment and maintain contact with
key personnel at certain agencies including the Federal Railroad Administration (FRA), the Transportation Security Administration (TSA)
as well as the DHS previously mentioned. We expect to develop similar relationships with governmental agencies in target markets both
in the US and internationally. At this time, we believe our offerings are complementary to the current and evolving standards and that
we will adapt to any new regulations as they are promulgated.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0 0 12pt; text-align: justify">We also work closely with state and local governments,
particularly in the provision of Edge Data Centers to make sure that we comply with local zoning ordinances and other regulatory requirements.
Additionally, we comply with all necessary requirements as they might relate to our power business including emissions. In certain cases,
we have provisioned for the addition of additional exhaust gas emissions cleaning technologies, although the cost of this will be borne
by New APR Energy.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0 0 12pt"></P>

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<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0 0 12pt"><B>Employees</B></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0 0 12pt; text-align: justify">We have a current staff of 100 employees, of
which 93 are full-time, the majority of which work in the Jacksonville area, none of which are subject to a collective bargaining agreement.
We have not experienced any work stoppages and we consider our relationship with our employees to be good.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0 0 12pt"><B>Our Risks and Challenges</B></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0 0 12pt; text-align: justify">An investment in our securities involves a
high degree of risk. You should carefully consider the risks summarized below. The risks are discussed more fully in the &#8220;Risk Factors&#8221;
section of this prospectus immediately following this prospectus summary. These risks include, but are not limited to, the following:</P>

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<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0 0 12pt"><B>Recent Developments</B>&#160;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0 0 12pt; text-align: justify">Effective January 1, 2025, the
Company&#8217;s executive leadership team was granted a total of 1,841,898 shares of restricted common stock, subject to a
three-year cliff vesting schedule, with an aggregate grant-date fair value of $11,014,544 based on a $5.98 price per share.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0 0 12pt; text-align: justify">On February 5, 2025, a holder of our Series
D Convertible Preferred Stock converted 300 shares of Series D Convertible Preferred Stock into 100,000 shares of Common Stock.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0 0 12pt; text-align: justify">Effective March 26, 2025, the Company issued
restricted common stock awards to an employee for a total of 100,000 shares of restricted common stock with three-year cliff vesting with
an aggregate grant-date fair value of $604,000 based on a $6.04 price per share.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0 0 12pt; text-align: justify">During the three months ended March 31, 2025,
the Company issued an aggregate of 633,683 shares of common stock at a weighted average price of $6.24 per share through its At-The-Market
(ATM) offering program, generating total gross proceeds of $3,954,940, incurring stock issuance costs of $137,851 and yielding net proceeds
of $3,817,089.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0 0 12pt; text-align: justify">On March 31, 2025, the Company issued 9,360
shares of common stock for payment of board fees to four directors in the amount of $50,000 for services to the board which was expensed
during the three months ended March 31, 2025. The volume-weighted average price (VWAP) per share used to value the services is $5.34.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0 0 12pt; text-align: justify">On April 1, 2025, certain employees exercised
stock options to acquire a total of 27,712 shares of the Company&#8217;s common stock, generating total gross proceeds of $107,925, incurring
stock issuance cost of $375 and yielding net proceeds of $107,550. The exercises were made pursuant to the Company&#8217;s 2016 and 2021
Equity Incentive Plans and were conducted in accordance with the applicable terms of the plans and the individual award agreements.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0 0 12pt; text-align: justify"></P>

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<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0 0 12pt; text-align: justify">On April 1, 2025, the Company issued 10,000
shares of restricted common stock to each of Mr. Ehrman and Mr. Mavrommadis, directors of the Company, subject to a one-year cliff resting
period. The shares had an aggregate grant-date fair value of $119,600, based on $5.98 price per share.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0 0 12pt; text-align: justify">On April 9, 2025, the Company issued 10,000
shares of restricted common stock to Mr. Ehrman, subject to a 90-day cliff vesting period. The shares had an aggregate grant-date fair
value of $44,600 based on $4.46 price per share. The Company also removed the remaining vesting period for the 10,000 shares issued to
Mr. Ehrman on April l, 2025.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0 0 12pt; text-align: justify; color: #1D2228">On April 14, 2025, the Company
entered into the First Amendment to At-The-Market Issuance Sales Agreement (the &#8220;First Amendment&#8221;) with Ascendiant Capital
Markets, LLC, as sales agent (&#8220;Ascendiant&#8221;). The First Amendment increased the aggregate dollar amount of common stock that
may be sold under the At-The-Market Issuance Sales Agreement, originally entered into on May 17, 2024, by $8,850,000, for total capacity
of $16,350,000. On April 14, 2025, the Company also filed a Prospectus Supplement with the SEC relating to the additional $8,850,000 of
common stock that may be sold pursuant to the First Amendment.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0 0 12pt; text-align: justify; color: #1D2228">On May 23, 2025, an employee exercised stock
options to acquire a total of 2,430 shares of the Company&#8217;s common stock in the form of a cashless exercise. The exercises were
made pursuant to the Company&#8217;s 2016 and 2021 Equity Incentive Plans and were conducted in accordance with the applicable terms of
the plans and the individual award agreements.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0 0 12pt; text-align: justify">On May 27, 2025, an employee exercised
stock options to acquire a total of 6,667 shares of the Company&#8217;s common stock, generating total gross proceeds of $36,852, incurring
stock issuance cost of $0 and yielding net proceeds of $36,852. The exercises were made pursuant to the Company&#8217;s 2016 and 2021
Equity Incentive Plans and were conducted in accordance with the applicable terms of the plans and the individual award agreements.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0 0 12pt; text-align: justify; color: #1D2228">On May 27, 2025, the Company
entered into the Second Amendment to At-The-Market Issuance Sales Agreement (the &#8220;Second Amendment&#8221;) with Ascendiant. The
Second Amendment further increased the aggregate dollar amount of common stock that may be sold under the At-The-Market Sales Agreement
from $8,850,000 to $10,500,000. On May 28, 2025, the Company filed a Supplement to the Prospectus Supplement with the SEC relating to
the $10,500,000 of common stock that may be sold pursuant to the Second Amendment.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0 0 12pt; text-align: justify">On May 28, 2025, a shareholder converted 1,000
shares of Series E Convertible Preferred Stock with a stated value of $1,000,000 with a conversion price of $2.61 per common share resulting
in the issuance of 383,143 shares of the Company&#8217;s common stock.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0 0 12pt; text-align: justify">On June 10, 2025, an employee exercised stock
options to acquire a total of 1,146 shares of the Company&#8217;s common stock in the form of a cashless exercise. The exercises were
made pursuant to the Company&#8217;s 2016 and 2021 Equity Incentive Plans and were conducted in accordance with the applicable terms of
the plans and the individual award agreements.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0 0 12pt; text-align: justify">During the three months ended June 30, 2025,
the Company issued an aggregate of 238,145 shares of common stock at a weighted average price of $7.71 per share through its At-The-Market
(ATM) offering program, generating total gross proceeds of $1,835,874, incurring stock issuance costs of $55,216 and yielding net proceeds
of $1,780,658.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0 0 12pt; text-align: justify">On June 30, 2025, the Company issued 5,419
shares of common stock for payment of board fees to three directors in the amount of $40,000 for services to the board which was expensed
during the three months ended June 30, 2025. The volume-weighted average price (VWAP) per share used to value the services was $7.38.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0 0 12pt; text-align: justify">On June 30, 2025, the Company issued 18,983
shares of common stock to employees participating in the Company&#8217;s Employee Stock Purchase Plan at the end of a six-month offering
period. The employee contributions totaled $114,765 for the six months ended June 30, 2025 which represented a purchase price of approximately
$6.04 per share. The purchase price for one share of Common Stock under the ESPP is equal to 85% of the fair market value of one share
of Common Stock on the first trading day of the offering period or the purchase date, whichever is lower.</P>


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<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0"><B>&#160;</B></P>

<P STYLE="font: bold 10pt Times New Roman, Times, Serif; margin: 0 0 12pt; text-transform: uppercase; text-align: center"><FONT ID="a_0002"></FONT>THE OFFERING</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0 0 12pt; text-align: justify">This prospectus relates to the offer and sale
from time to time of up to 4,789,273 shares of our Common Stock by the Selling Stockholders that may be issued upon conversion of the
Series E Preferred Stock. See &#8220;<A HREF="#a_0007">Selling Stockholders</A>&#8221;.</P>

<TABLE CELLSPACING="0" CELLPADDING="0" STYLE="font: 10pt Times New Roman, Times, Serif; width: 100%; border-collapse: collapse">
  <TR STYLE="vertical-align: top">
    <TD STYLE="width: 33%"><B>Securities offered by the Selling Stockholders</B></TD>
    <TD STYLE="width: 67%; text-align: justify">&#160;4,789,273 shares of our Common Stock.</TD></TR>
  <TR STYLE="vertical-align: top">
    <TD>&#160;</TD>
    <TD>&#160;</TD></TR>
  <TR STYLE="vertical-align: top">
    <TD><B>Offering Price Per Share</B></TD>
    <TD STYLE="text-align: justify">The Selling Stockholders may sell all or a portion of the shares being offered by this prospectus at fixed prices, at prevailing market prices at the time of sale, at varying prices or at negotiated prices.&#160;&#160;See &#8220;<A HREF="#a_0008">Plan of Distribution</A>&#8221;.</TD></TR>
  <TR STYLE="vertical-align: top">
    <TD>&#160;</TD>
    <TD>&#160;</TD></TR>
  <TR STYLE="vertical-align: top">
    <TD><B>Use of proceeds</B></TD>
    <TD STYLE="text-align: justify">We will not receive any proceeds from the sale of Common Stock by the Selling Stockholders. All of the net proceeds from the sale of our Common Stock will go to the Selling Stockholders as described below in the sections entitled &#8220;<A HREF="#a_0007">Selling Stockholders</A>&#8221; and &#8220;<A HREF="#a_0008">Plan of Distribution</A>&#8221;.&#160;&#160;We have agreed to bear the expenses relating to the registration of the Common Stock for the Selling Stockholders.</TD></TR>
  <TR STYLE="vertical-align: top">
    <TD>&#160;</TD>
    <TD>&#160;</TD></TR>
  <TR STYLE="vertical-align: top">
    <TD><B>Risk factors</B></TD>
    <TD STYLE="text-align: justify">Investing in our securities is highly speculative and involves a high degree of risk. You should carefully consider the information set forth in the &#8220;<A HREF="#a_0004">Risk Factors</A>&#8221; section beginning on page 20 before deciding to invest in our securities.</TD></TR>
  <TR STYLE="vertical-align: top">
    <TD>&#160;</TD>
    <TD>&#160;</TD></TR>
  <TR STYLE="vertical-align: top">
    <TD><B>Trading symbol</B></TD>
    <TD STYLE="text-align: justify">Our common stock is currently quoted on the Nasdaq Capital Market under the trading symbol &#8220;DUOT&#8221;.</TD></TR>
  </TABLE>
<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0">&#160;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0 0 12pt; text-align: justify">Unless otherwise indicated in this prospectus,
throughout this prospectus the number of shares of our common stock outstanding is based on 12,393,325 shares of our common stock outstanding
as of July 7, 2025 and excludes the following:</P>

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    <TD STYLE="width: 32px">&#160;</TD>
    <TD STYLE="text-align: justify">485,125 shares of common stock issuable upon the exercise of options to purchase shares of common stock outstanding as of June 30, 2025, with a weighted average exercise price of $5.30 per share;</TD></TR>
  <TR STYLE="vertical-align: top">
    <TD STYLE="text-align: center"><FONT STYLE="font-family: Symbol">&#183;</FONT></TD>
    <TD>&#160;</TD>
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  <TR STYLE="vertical-align: top">
    <TD STYLE="text-align: center"><FONT STYLE="font-family: Symbol">&#183;</FONT></TD>
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  <TR STYLE="vertical-align: top">
    <TD STYLE="text-align: center"><FONT STYLE="font-family: Symbol">&#183;</FONT></TD>
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<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0">&#160;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0">&#160;</P>


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<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0"><B>&#160;</B></P>

<P STYLE="font: bold 10pt Times New Roman, Times, Serif; margin: 0 0 12pt; text-transform: uppercase; text-align: center"><FONT ID="a_0003"></FONT>SUMMARY OF CONSOLIDATED
FINANCIAL INFORMATION</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0 0 12pt; text-align: justify">The following summary consolidated statement
of operations data for the fiscal years ended December 31, 2024, and 2023 and the summary consolidated balance sheet data as of December
31, 2024, and 2023 have been derived from our audited consolidated financial statements included elsewhere in this prospectus. The consolidated
statements of operations for the three months ended March 31, 2025 and 2024, and the summary consolidated balance sheet data as of March
31, 2025, have been derived from our unaudited consolidated financial statements included elsewhere in this prospectus. The historical
financial data presented below are not necessarily indicative of our financial results in future periods, and the interim results are
not necessarily indicative of our operating results to be expected for the full fiscal year ending December 31, 2025, or any other period.
You should read the summary consolidated financial data in conjunction with those financial statements and the accompanying notes and
&#8220;Management&#8217;s Discussion and Analysis of Financial Condition and Results of Operations.&#8221; Our consolidated financial
statements are prepared and presented in accordance with United States generally accepted accounting principles, or U.S. GAAP. Our unaudited
consolidated financial statements have been prepared on a basis consistent with our audited statements and include all adjustments, consisting
of normal and recurring adjustments, that we consider necessary for a fair presentation of the financial position and results of operations
as of and for such periods.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify"></P>

<P STYLE="font: bold 10pt Times New Roman, Times, Serif; margin: 0 0 6pt; text-transform: uppercase; text-align: center">DUOS TECHNOLOGIES
GROUP, INC. AND SUBSIDIARIES<BR>
CONSOLIDATED STATEMENTS OF OPERATIONS</P>

<TABLE CELLPADDING="0" CELLSPACING="0" STYLE="font: 10pt Times New Roman, Times, Serif; border-collapse: collapse; width: 100%">
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  <TR STYLE="vertical-align: bottom">
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  <TR STYLE="vertical-align: bottom; background-color: rgb(204,238,255)">
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  <TR STYLE="vertical-align: bottom; background-color: White">
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  <TR STYLE="vertical-align: bottom; background-color: rgb(204,238,255)">
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  <TR STYLE="vertical-align: bottom; background-color: White">
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  <TR STYLE="vertical-align: bottom; background-color: rgb(204,238,255)">
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  <TR STYLE="vertical-align: bottom; background-color: White">
    <TD STYLE="text-align: right">&#160;</TD><TD>&#160;</TD>
    <TD STYLE="text-align: left">&#160;</TD><TD STYLE="text-align: right">&#160;</TD><TD STYLE="text-align: left">&#160;</TD><TD>&#160;</TD>
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  <TR STYLE="vertical-align: bottom; background-color: rgb(204,238,255)">
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  <TR STYLE="vertical-align: bottom; background-color: White">
    <TD STYLE="text-align: right">&#160;</TD><TD>&#160;</TD>
    <TD STYLE="text-align: left">&#160;</TD><TD STYLE="text-align: right">&#160;</TD><TD STYLE="text-align: left">&#160;</TD><TD>&#160;</TD>
    <TD STYLE="text-align: left">&#160;</TD><TD STYLE="text-align: right">&#160;</TD><TD STYLE="text-align: left">&#160;</TD></TR>
  <TR STYLE="vertical-align: bottom; background-color: rgb(204,238,255)">
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  <TR STYLE="vertical-align: bottom; background-color: White">
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  <TR STYLE="vertical-align: bottom; background-color: rgb(204,238,255)">
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    <TD STYLE="text-align: left">&#160;</TD><TD STYLE="text-align: right">&#160;</TD><TD STYLE="text-align: left">&#160;</TD><TD>&#160;</TD>
    <TD STYLE="text-align: left">&#160;</TD><TD STYLE="text-align: right">&#160;</TD><TD STYLE="text-align: left">&#160;</TD></TR>
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    <TD STYLE="text-align: left">&#160;</TD><TD STYLE="text-align: right">&#160;</TD><TD STYLE="text-align: left">&#160;</TD><TD>&#160;</TD>
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    <TD STYLE="text-align: right">&#160;</TD><TD>&#160;</TD>
    <TD STYLE="text-align: left">&#160;</TD><TD STYLE="text-align: right">&#160;</TD><TD STYLE="text-align: left">&#160;</TD><TD>&#160;</TD>
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  <TR STYLE="vertical-align: bottom; background-color: rgb(204,238,255)">
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    <TD STYLE="text-align: left">&#160;</TD><TD STYLE="text-align: right">&#160;</TD><TD STYLE="text-align: left">&#160;</TD><TD>&#160;</TD>
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<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0">&#160;</P>


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<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0"><B>&#160;</B></P>

<P STYLE="font: bold 10pt Times New Roman, Times, Serif; margin: 0 0 12pt; text-transform: uppercase; text-align: center">DUOS TECHNOLOGIES
GROUP, INC. AND SUBSIDIARIES<BR>
CONSOLIDATED BALANCE SHEETS</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0">&#160;</P>

<TABLE CELLPADDING="0" CELLSPACING="0" STYLE="font: 10pt Times New Roman, Times, Serif; border-collapse: collapse; width: 100%">
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    <TD STYLE="text-align: center">&#160;</TD><TD>&#160;</TD>
    <TD COLSPAN="2" STYLE="text-align: center">&#160;</TD><TD>&#160;</TD><TD>&#160;</TD>
    <TD COLSPAN="2" STYLE="text-align: center">&#160;</TD><TD>&#160;</TD></TR>
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    <TD COLSPAN="2" STYLE="border-bottom: Black 1pt solid; font-size: 8pt; font-weight: bold; text-align: center">December 31,</TD><TD STYLE="padding-bottom: 1pt; font-size: 8pt; font-weight: bold">&#160;</TD></TR>
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    <TD STYLE="text-align: center">&#160;</TD><TD>&#160;</TD>
    <TD COLSPAN="2" STYLE="text-align: center">&#160;</TD><TD>&#160;</TD><TD>&#160;</TD>
    <TD COLSPAN="2" STYLE="text-align: center">&#160;</TD><TD>&#160;</TD></TR>
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    <TD STYLE="text-align: center">ASSETS</TD><TD>&#160;</TD>
    <TD STYLE="text-align: left">&#160;</TD><TD STYLE="text-align: right">&#160;</TD><TD STYLE="text-align: left">&#160;</TD><TD>&#160;</TD>
    <TD STYLE="text-align: left">&#160;</TD><TD STYLE="text-align: right">&#160;</TD><TD STYLE="text-align: left">&#160;</TD></TR>
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    <TD STYLE="text-align: left">&#160;</TD><TD STYLE="text-align: right">&#160;</TD><TD STYLE="text-align: left">&#160;</TD><TD>&#160;</TD>
    <TD STYLE="text-align: left">&#160;</TD><TD STYLE="text-align: right">&#160;</TD><TD STYLE="text-align: left">&#160;</TD></TR>
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  <TR STYLE="vertical-align: bottom; background-color: rgb(204,238,255)">
    <TD STYLE="text-align: right">&#160;</TD><TD>&#160;</TD>
    <TD STYLE="text-align: left">&#160;</TD><TD STYLE="text-align: right">&#160;</TD><TD STYLE="text-align: left">&#160;</TD><TD>&#160;</TD>
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  <TR STYLE="vertical-align: bottom; background-color: rgb(204,238,255)">
    <TD STYLE="text-align: right">&#160;</TD><TD>&#160;</TD>
    <TD STYLE="text-align: left">&#160;</TD><TD STYLE="text-align: right">&#160;</TD><TD STYLE="text-align: left">&#160;</TD><TD>&#160;</TD>
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    <TD STYLE="text-align: left">&#160;</TD><TD STYLE="text-align: right">4,028,397</TD><TD STYLE="text-align: left">&#160;</TD><TD>&#160;</TD>
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  <TR STYLE="vertical-align: bottom; background-color: rgb(204,238,255)">
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    <TD STYLE="text-align: left">&#160;</TD><TD STYLE="text-align: right">&#160;</TD><TD STYLE="text-align: left">&#160;</TD></TR>
  <TR STYLE="vertical-align: bottom; background-color: White">
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    <TD STYLE="text-align: left">&#160;</TD><TD STYLE="text-align: right">&#160;</TD><TD STYLE="text-align: left">&#160;</TD></TR>
  <TR STYLE="vertical-align: bottom; background-color: rgb(204,238,255)">
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    <TD STYLE="text-align: left">&#160;</TD><TD STYLE="text-align: right">127,300</TD><TD STYLE="text-align: left">&#160;</TD><TD>&#160;</TD>
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  <TR STYLE="vertical-align: bottom; background-color: rgb(204,238,255)">
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  <TR STYLE="vertical-align: bottom; background-color: White">
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    <TD STYLE="text-align: left">&#160;</TD><TD STYLE="text-align: right">&#160;</TD><TD STYLE="text-align: left">&#160;</TD><TD>&#160;</TD>
    <TD STYLE="text-align: left">&#160;</TD><TD STYLE="text-align: right">&#160;</TD><TD STYLE="text-align: left">&#160;</TD></TR>
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<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0"><B>&#160;</B></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0"><B>&#160;</B></P>


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<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0"><B>&#160;</B></P>

<P STYLE="font: bold 10pt Times New Roman, Times, Serif; margin: 0 0 12pt; text-transform: uppercase; text-align: center">DUOS TECHNOLOGIES
GROUP, INC. AND SUBSIDIARIES<BR>
CONSOLIDATED BALANCE SHEETS (CONTINUED)</P>

<TABLE CELLPADDING="0" CELLSPACING="0" STYLE="font: 10pt Times New Roman, Times, Serif; border-collapse: collapse; width: 100%">
  <TR STYLE="vertical-align: bottom">
    <TD STYLE="text-align: center">&#160;</TD><TD>&#160;</TD>
    <TD COLSPAN="2" STYLE="text-align: center">&#160;</TD><TD>&#160;</TD><TD>&#160;</TD>
    <TD COLSPAN="2" STYLE="text-align: center">&#160;</TD><TD>&#160;</TD></TR>
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    <TD STYLE="text-align: center">&#160;</TD><TD STYLE="font-size: 8pt; font-weight: bold; padding-bottom: 1pt">&#160;</TD>
    <TD COLSPAN="2" STYLE="border-bottom: Black 1pt solid; font-size: 8pt; font-weight: bold; text-align: center">December 31,</TD><TD STYLE="padding-bottom: 1pt; font-size: 8pt; font-weight: bold">&#160;</TD><TD STYLE="font-size: 8pt; font-weight: bold; padding-bottom: 1pt">&#160;</TD>
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    <TD STYLE="text-align: center">&#160;</TD><TD STYLE="font-size: 8pt; font-weight: bold; padding-bottom: 1pt">&#160;</TD>
    <TD COLSPAN="2" STYLE="border-bottom: Black 1pt solid; font-size: 8pt; font-weight: bold; text-align: center">2024</TD><TD STYLE="padding-bottom: 1pt; font-size: 8pt; font-weight: bold">&#160;</TD><TD STYLE="font-size: 8pt; font-weight: bold; padding-bottom: 1pt">&#160;</TD>
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    <TD STYLE="text-align: center">&#160;</TD><TD>&#160;</TD>
    <TD COLSPAN="2" STYLE="text-align: center">&#160;</TD><TD>&#160;</TD><TD>&#160;</TD>
    <TD COLSPAN="2" STYLE="text-align: center">&#160;</TD><TD>&#160;</TD></TR>
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    <TD STYLE="text-align: center">&#160;LIABILITIES AND STOCKHOLDERS' EQUITY</TD><TD>&#160;</TD>
    <TD STYLE="text-align: left">&#160;</TD><TD STYLE="text-align: right">&#160;</TD><TD STYLE="text-align: left">&#160;</TD><TD>&#160;</TD>
    <TD STYLE="text-align: left">&#160;</TD><TD STYLE="text-align: right">&#160;</TD><TD STYLE="text-align: left">&#160;</TD></TR>
  <TR STYLE="vertical-align: bottom; background-color: White">
    <TD STYLE="text-align: center">&#160;</TD><TD>&#160;</TD>
    <TD STYLE="text-align: left">&#160;</TD><TD STYLE="text-align: right">&#160;</TD><TD STYLE="text-align: left">&#160;</TD><TD>&#160;</TD>
    <TD STYLE="text-align: left">&#160;</TD><TD STYLE="text-align: right">&#160;</TD><TD STYLE="text-align: left">&#160;</TD></TR>
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    <TD STYLE="text-align: left">&#160;</TD><TD STYLE="text-align: right">&#160;</TD><TD STYLE="text-align: left">&#160;</TD></TR>
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    <TD STYLE="text-align: left">&#160;</TD><TD STYLE="text-align: right">17,072</TD><TD STYLE="text-align: left">&#160;</TD><TD>&#160;</TD>
    <TD STYLE="text-align: left">&#160;</TD><TD STYLE="text-align: right">41,976</TD><TD STYLE="text-align: left">&#160;</TD></TR>
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    <TD STYLE="text-align: left">&#160;</TD><TD STYLE="text-align: right">373,251</TD><TD STYLE="text-align: left">&#160;</TD><TD>&#160;</TD>
    <TD STYLE="text-align: left">&#160;</TD><TD STYLE="text-align: right">164,113</TD><TD STYLE="text-align: left">&#160;</TD></TR>
  <TR STYLE="vertical-align: bottom; background-color: rgb(204,238,255)">
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    <TD STYLE="text-align: left">&#160;</TD><TD STYLE="text-align: right">798,556</TD><TD STYLE="text-align: left">&#160;</TD><TD>&#160;</TD>
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  <TR STYLE="vertical-align: bottom; background-color: White">
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    <TD STYLE="text-align: left">&#160;</TD><TD STYLE="text-align: right">367,451</TD><TD STYLE="text-align: left">&#160;</TD><TD>&#160;</TD>
    <TD STYLE="text-align: left">&#160;</TD><TD STYLE="text-align: right">&#8212;</TD><TD STYLE="text-align: left">&#160;</TD></TR>
  <TR STYLE="vertical-align: bottom; background-color: rgb(204,238,255)">
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    <TD STYLE="text-align: left">&#160;</TD><TD STYLE="text-align: right">&#8212;</TD><TD STYLE="text-align: left">&#160;</TD></TR>
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    <TD STYLE="border-bottom: Black 1pt solid; text-align: left">&#160;</TD><TD STYLE="border-bottom: Black 1pt solid; text-align: right">1,666,243</TD><TD STYLE="padding-bottom: 1pt; text-align: left">&#160;</TD></TR>
  <TR STYLE="vertical-align: bottom; background-color: rgb(204,238,255)">
    <TD STYLE="text-align: right">&#160;</TD><TD>&#160;</TD>
    <TD STYLE="text-align: left">&#160;</TD><TD STYLE="text-align: right">&#160;</TD><TD STYLE="text-align: left">&#160;</TD><TD>&#160;</TD>
    <TD STYLE="text-align: left">&#160;</TD><TD STYLE="text-align: right">&#160;</TD><TD STYLE="text-align: left">&#160;</TD></TR>
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    <TD STYLE="text-align: left">&#160;</TD><TD STYLE="text-align: right">16,089,566</TD><TD STYLE="text-align: left">&#160;</TD><TD>&#160;</TD>
    <TD STYLE="text-align: left">&#160;</TD><TD STYLE="text-align: right">3,247,053</TD><TD STYLE="text-align: left">&#160;</TD></TR>
  <TR STYLE="vertical-align: bottom; background-color: rgb(204,238,255)">
    <TD STYLE="text-align: right">&#160;</TD><TD>&#160;</TD>
    <TD STYLE="text-align: left">&#160;</TD><TD STYLE="text-align: right">&#160;</TD><TD STYLE="text-align: left">&#160;</TD><TD>&#160;</TD>
    <TD STYLE="text-align: left">&#160;</TD><TD STYLE="text-align: right">&#160;</TD><TD STYLE="text-align: left">&#160;</TD></TR>
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    <TD STYLE="text-align: left">&#160;</TD><TD STYLE="text-align: right">11,016,134</TD><TD STYLE="text-align: left">&#160;</TD><TD>&#160;</TD>
    <TD STYLE="text-align: left">&#160;</TD><TD STYLE="text-align: right">&#8212;</TD><TD STYLE="text-align: left">&#160;</TD></TR>
  <TR STYLE="vertical-align: bottom; background-color: rgb(204,238,255)">
    <TD STYLE="text-align: left; padding-left: 10pt">&#160;Operating lease obligations - Office Lease, less current portion</TD><TD>&#160;</TD>
    <TD STYLE="text-align: left">&#160;</TD><TD STYLE="text-align: right">3,867,042</TD><TD STYLE="text-align: left">&#160;</TD><TD>&#160;</TD>
    <TD STYLE="text-align: left">&#160;</TD><TD STYLE="text-align: right">4,228,718</TD><TD STYLE="text-align: left">&#160;</TD></TR>
  <TR STYLE="vertical-align: bottom; background-color: White">
    <TD STYLE="text-align: left; padding-bottom: 1pt; padding-left: 10pt">&#160;Financing lease obligation - Edge Data Centers, less current portion</TD><TD STYLE="padding-bottom: 1pt">&#160;</TD>
    <TD STYLE="border-bottom: Black 1pt solid; text-align: left">&#160;</TD><TD STYLE="border-bottom: Black 1pt solid; text-align: right">1,724,604</TD><TD STYLE="padding-bottom: 1pt; text-align: left">&#160;</TD><TD STYLE="padding-bottom: 1pt">&#160;</TD>
    <TD STYLE="border-bottom: Black 1pt solid; text-align: left">&#160;</TD><TD STYLE="border-bottom: Black 1pt solid; text-align: right">&#8212;</TD><TD STYLE="padding-bottom: 1pt; text-align: left">&#160;</TD></TR>
  <TR STYLE="vertical-align: bottom; background-color: rgb(204,238,255)">
    <TD STYLE="text-align: right">&#160;</TD><TD>&#160;</TD>
    <TD STYLE="text-align: left">&#160;</TD><TD STYLE="text-align: right">&#160;</TD><TD STYLE="text-align: left">&#160;</TD><TD>&#160;</TD>
    <TD STYLE="text-align: left">&#160;</TD><TD STYLE="text-align: right">&#160;</TD><TD STYLE="text-align: left">&#160;</TD></TR>
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  <TR STYLE="vertical-align: bottom; background-color: rgb(204,238,255)">
    <TD STYLE="text-align: right">&#160;</TD><TD>&#160;</TD>
    <TD STYLE="text-align: left">&#160;</TD><TD STYLE="text-align: right">&#160;</TD><TD STYLE="text-align: left">&#160;</TD><TD>&#160;</TD>
    <TD STYLE="text-align: left">&#160;</TD><TD STYLE="text-align: right">&#160;</TD><TD STYLE="text-align: left">&#160;</TD></TR>
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    <TD STYLE="text-align: left">&#160;</TD><TD STYLE="text-align: right">&#160;</TD><TD STYLE="text-align: left">&#160;</TD></TR>
  <TR STYLE="vertical-align: bottom; background-color: rgb(204,238,255)">
    <TD STYLE="text-align: right">&#160;</TD><TD>&#160;</TD>
    <TD STYLE="text-align: left">&#160;</TD><TD STYLE="text-align: right">&#160;</TD><TD STYLE="text-align: left">&#160;</TD><TD>&#160;</TD>
    <TD STYLE="text-align: left">&#160;</TD><TD STYLE="text-align: right">&#160;</TD><TD STYLE="text-align: left">&#160;</TD></TR>
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    <TD STYLE="text-align: left">&#160;</TD><TD STYLE="text-align: right">&#160;</TD><TD STYLE="text-align: left">&#160;</TD></TR>
  <TR STYLE="vertical-align: bottom; background-color: rgb(204,238,255)">
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    <TD STYLE="text-align: left">&#160;</TD><TD STYLE="text-align: right">&#160;</TD><TD STYLE="text-align: left">&#160;</TD></TR>
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    <TD STYLE="text-align: left">&#160;</TD><TD STYLE="text-align: right">&#8212;</TD><TD STYLE="text-align: left">&#160;</TD></TR>
  <TR STYLE="vertical-align: bottom; background-color: rgb(204,238,255)">
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    <TD STYLE="text-align: left">&#160;</TD><TD STYLE="text-align: right">&#8212;</TD><TD STYLE="text-align: left">&#160;</TD><TD>&#160;</TD>
    <TD STYLE="text-align: left">&#160;</TD><TD STYLE="text-align: right">&#8212;</TD><TD STYLE="text-align: left">&#160;</TD></TR>
  <TR STYLE="vertical-align: bottom; background-color: White">
    <TD STYLE="font: 10pt Times New Roman, Times, Serif; text-align: left; text-indent: -10pt; padding-left: 20pt">Series C convertible preferred stock, $1,000 stated value per share, <BR> 5,000 shares designated; 0 and 0 issued and outstanding at December 31, 2024 and December 31, 2023, respectively, convertible into common stock at $5.50 per share</TD><TD>&#160;</TD>
    <TD STYLE="text-align: left">&#160;</TD><TD STYLE="text-align: right">&#8212;</TD><TD STYLE="text-align: left">&#160;</TD><TD>&#160;</TD>
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<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0">&#160;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0">&#160;</P>


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<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0 0 12pt; text-align: center"><B>DUOS TECHNOLOGIES GROUP, INC. AND SUBSIDIARIES<BR>
CONSOLIDATED STATEMENTS OF OPERATIONS<BR>
(Unaudited)</B></P>

<TABLE CELLPADDING="0" CELLSPACING="0" STYLE="font: 10pt Times New Roman, Times, Serif; border-collapse: collapse; width: 100%">
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  <TR STYLE="vertical-align: bottom; background-color: rgb(204,238,255)">
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  <TR STYLE="vertical-align: bottom; background-color: rgb(204,238,255)">
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<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0"><B>&#160;</B></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0"><B>&#160;</B></P>


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<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0"><B>&#160;</B></P>

<P STYLE="font: bold 10pt Times New Roman, Times, Serif; margin: 0 0 12pt; text-transform: uppercase; text-align: center">DUOS TECHNOLOGIES
GROUP, INC. AND SUBSIDIARIES<BR>
CONSOLIDATED BALANCE SHEETS</P>

<TABLE CELLPADDING="0" CELLSPACING="0" STYLE="font: 10pt Times New Roman, Times, Serif; border-collapse: collapse; width: 100%">
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    <TD COLSPAN="2" STYLE="text-align: center">&#160;</TD><TD>&#160;</TD></TR>
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    <TD STYLE="text-align: left">&#160;</TD><TD STYLE="text-align: right">&#160;</TD><TD STYLE="text-align: left">&#160;</TD><TD>&#160;</TD>
    <TD STYLE="text-align: left">&#160;</TD><TD STYLE="text-align: right">&#160;</TD><TD STYLE="text-align: left">&#160;</TD></TR>
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    <TD STYLE="text-align: left">&#160;</TD><TD STYLE="text-align: right">&#160;</TD><TD STYLE="text-align: left">&#160;</TD><TD>&#160;</TD>
    <TD STYLE="text-align: left">&#160;</TD><TD STYLE="text-align: right">&#160;</TD><TD STYLE="text-align: left">&#160;</TD></TR>
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  <TR STYLE="vertical-align: bottom; background-color: rgb(204,238,255)">
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  <TR STYLE="vertical-align: bottom; background-color: rgb(204,238,255)">
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  <TR STYLE="vertical-align: bottom; background-color: rgb(204,238,255)">
    <TD STYLE="text-align: right">&#160;</TD><TD>&#160;</TD>
    <TD STYLE="text-align: left">&#160;</TD><TD STYLE="text-align: right">&#160;</TD><TD STYLE="text-align: left">&#160;</TD><TD>&#160;</TD>
    <TD STYLE="text-align: left">&#160;</TD><TD STYLE="text-align: right">&#160;</TD><TD STYLE="text-align: left">&#160;</TD></TR>
  <TR STYLE="vertical-align: bottom; background-color: White">
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    <TD STYLE="border-bottom: Black 1pt solid; text-align: left">&#160;</TD><TD STYLE="border-bottom: Black 1pt solid; text-align: right">8,087,205</TD><TD STYLE="padding-bottom: 1pt; text-align: left">&#160;</TD></TR>
  <TR STYLE="vertical-align: bottom; background-color: rgb(204,238,255)">
    <TD STYLE="text-align: right">&#160;</TD><TD>&#160;</TD>
    <TD STYLE="text-align: left">&#160;</TD><TD STYLE="text-align: right">&#160;</TD><TD STYLE="text-align: left">&#160;</TD><TD>&#160;</TD>
    <TD STYLE="text-align: left">&#160;</TD><TD STYLE="text-align: right">&#160;</TD><TD STYLE="text-align: left">&#160;</TD></TR>
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  <TR STYLE="vertical-align: bottom; background-color: rgb(204,238,255)">
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    <TD STYLE="text-align: left">&#160;</TD><TD STYLE="text-align: right">3,300,754</TD><TD STYLE="text-align: left">&#160;</TD><TD>&#160;</TD>
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  <TR STYLE="vertical-align: bottom; background-color: rgb(204,238,255)">
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  <TR STYLE="vertical-align: bottom; background-color: White">
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  <TR STYLE="vertical-align: bottom; background-color: rgb(204,238,255)">
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    <TD STYLE="text-align: left">&#160;</TD><TD STYLE="text-align: right">&#160;</TD><TD STYLE="text-align: left">&#160;</TD><TD>&#160;</TD>
    <TD STYLE="text-align: left">&#160;</TD><TD STYLE="text-align: right">&#160;</TD><TD STYLE="text-align: left">&#160;</TD></TR>
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    <TD STYLE="text-align: left">&#160;</TD><TD STYLE="text-align: right">&#160;</TD><TD STYLE="text-align: left">&#160;</TD></TR>
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  <TR STYLE="vertical-align: bottom; background-color: rgb(204,238,255)">
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  <TR STYLE="vertical-align: bottom; background-color: rgb(204,238,255)">
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  <TR STYLE="vertical-align: bottom; background-color: White">
    <TD STYLE="text-align: right">&#160;</TD><TD>&#160;</TD>
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  <TR STYLE="vertical-align: bottom; background-color: rgb(204,238,255)">
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    <TD STYLE="text-align: left">&#160;</TD><TD STYLE="text-align: right">&#160;</TD><TD STYLE="text-align: left">&#160;</TD><TD>&#160;</TD>
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  <TR STYLE="vertical-align: bottom; background-color: White">
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    <TD STYLE="text-align: left">&#160;</TD><TD STYLE="text-align: right">&#160;</TD><TD STYLE="text-align: left">&#160;</TD></TR>
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  <TR STYLE="vertical-align: bottom; background-color: White">
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    <TD STYLE="text-align: left">&#160;</TD><TD STYLE="text-align: right">&#160;</TD><TD STYLE="text-align: left">&#160;</TD><TD>&#160;</TD>
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  <TR STYLE="vertical-align: bottom; background-color: rgb(204,238,255)">
    <TD STYLE="text-align: right">&#160;</TD><TD>&#160;</TD>
    <TD STYLE="text-align: left">&#160;</TD><TD STYLE="text-align: right">&#160;</TD><TD STYLE="text-align: left">&#160;</TD><TD>&#160;</TD>
    <TD STYLE="text-align: left">&#160;</TD><TD STYLE="text-align: right">&#160;</TD><TD STYLE="text-align: left">&#160;</TD></TR>
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    <TD STYLE="text-align: left">&#160;</TD><TD STYLE="text-align: right">&#160;</TD><TD STYLE="text-align: left">&#160;</TD><TD>&#160;</TD>
    <TD STYLE="text-align: left">&#160;</TD><TD STYLE="text-align: right">&#160;</TD><TD STYLE="text-align: left">&#160;</TD></TR>
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  <TR STYLE="vertical-align: bottom; background-color: rgb(204,238,255)">
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    <TD STYLE="text-align: left">&#160;</TD><TD STYLE="text-align: right">&#160;</TD><TD STYLE="text-align: left">&#160;</TD><TD>&#160;</TD>
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    <TD STYLE="text-align: left">&#160;</TD><TD STYLE="text-align: right">&#160;</TD><TD STYLE="text-align: left">&#160;</TD></TR>
  <TR STYLE="vertical-align: bottom; background-color: rgb(204,238,255)">
    <TD>&#160;</TD><TD>&#160;</TD>
    <TD STYLE="text-align: left">&#160;</TD><TD STYLE="text-align: right">&#160;</TD><TD STYLE="text-align: left">&#160;</TD><TD>&#160;</TD>
    <TD STYLE="text-align: left">&#160;</TD><TD STYLE="text-align: right">&#160;</TD><TD STYLE="text-align: left">&#160;</TD></TR>
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    <TD STYLE="text-align: left">&#160;</TD><TD STYLE="text-align: right">&#160;</TD><TD STYLE="text-align: left">&#160;</TD><TD>&#160;</TD>
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    <TD STYLE="text-align: left">&#160;</TD><TD STYLE="text-align: right">&#8212;</TD><TD STYLE="text-align: left">&#160;</TD><TD>&#160;</TD>
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    <TD STYLE="text-align: left">&#160;</TD><TD STYLE="text-align: right">&#8212;</TD><TD STYLE="text-align: left">&#160;</TD><TD>&#160;</TD>
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  <TR STYLE="vertical-align: bottom; background-color: rgb(204,238,255)">
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    <TD STYLE="text-align: left">&#160;</TD><TD STYLE="text-align: right">&#8212;</TD><TD STYLE="text-align: left">&#160;</TD><TD>&#160;</TD>
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  <TR STYLE="vertical-align: bottom; background-color: rgb(204,238,255)">
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    <TD STYLE="text-align: left">&#160;</TD><TD STYLE="text-align: right">&#8212;</TD><TD STYLE="text-align: left">&#160;</TD><TD>&#160;</TD>
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  <TR STYLE="vertical-align: bottom; background-color: rgb(204,238,255)">
    <TD STYLE="text-align: right">&#160;</TD><TD>&#160;</TD>
    <TD STYLE="text-align: left">&#160;</TD><TD STYLE="text-align: right">&#160;</TD><TD STYLE="text-align: left">&#160;</TD><TD>&#160;</TD>
    <TD STYLE="text-align: left">&#160;</TD><TD STYLE="text-align: right">&#160;</TD><TD STYLE="text-align: left">&#160;</TD></TR>
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<P STYLE="font: bold 10pt Times New Roman, Times, Serif; margin: 0 0 12pt; text-transform: uppercase; text-align: center"><FONT ID="a_0004"></FONT>RISK FACTORS</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0 0 12pt; text-align: justify"><I>Investing in our securities involves a great
deal of risk. Careful consideration should be made of the following factors as well as other information included in this prospectus before
deciding to purchase our securities. There are many risks that affect our business and results of operations, some of which are beyond
our control. Our business, financial condition or operating results could be materially harmed by any of these risks. This could cause
the trading price of our securities to decline, and you may lose all or part of your investment. Additional risks that we do not yet know
of or that we currently think are immaterial may also affect our business and results of operations.</I></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0 0 12pt"><B>Risks Related to Our Company and Business</B></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0 0 12pt; text-align: justify"><B><I>The nature of the technology management
platforms utilized by us are complex and highly integrated, and if we fail to successfully manage releases or integrate new solutions,
it could harm our revenues, operating income, and reputation.</I></B></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0 0 12pt; text-align: justify">The technology platforms developed and designed
by us accommodate integrated applications that include our own developed technology and third-party technology, thereby substantially
increasing their functionality.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0 0 12pt; text-align: justify">Due to this complexity and the condensed development
cycles under which we operate, we may experience errors in our software, corruption or loss of our data, or unexpected performance issues
from time to time. For example, our solutions may face interoperability difficulties with software operating systems or programs being
used by our customers, or new releases, upgrades, fixes or the integration of acquired technologies may have unanticipated consequences
on the operation and performance of our other solutions. If we encounter integration challenges or discover errors in our solutions late
in our development cycle, it may cause us to delay our launch dates. Any major integration or interoperability issues or launch delays
could have a material adverse effect on our revenues, operating income and reputation.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0 0 12pt; text-align: justify"><B><I>We may be adversely affected by the effects
of inflation and supply chain disruption.</I></B></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0 0 12pt; text-align: justify; color: #0E0E0E">Our business operates in an
environment of long bid to contract award cycles. Our customers&#8217; bid requirements are such that firm pricing is expected on much
or all of our proposals and as such we must commit to certain commercial terms and conditions such as pricing. In addition, the Company
hires employees and contractors to perform most (if not all) of the work required to complete a contract. We have experienced, and expect
to continue to experience, impacts of inflation upon previously forecasted costs including employees that require higher salaries, contractors
demanding higher prices for jobs and higher costs for materials necessary to complete contracts. While we endeavor to charge additional
costs to our customers, in some cases this may not be possible contractually and as a result our profitability may suffer as a result.
Although we anticipate these effects to be mitigated in the long term, we cannot be assured that this will be possible in all or any instances
and as such our revenue, profitability and growth prospects may suffer as a result of this.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0 0 12pt; text-align: justify">Current supply chain issues continue to extend
deadlines for shipment of key components used in our technology systems. The effect of this may be to delay revenue recognition. We have
experienced and expect to continue to experience delays to our business operations resulting from lack of materials availability, delays
in securing key components such as video cameras requiring certain computer chips, and other material and personnel shortages that may
impact our ability to implement our products and services in a timely manner or meet required milestones or customer commitments.&#160;
In addition, higher costs for travel may adversely impact our business, financial condition, operating results and cash flows. This has
made it necessary for the Company to order certain components prior to receiving a contract to ensure we have key components available
when necessary to satisfy future contract obligations.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0 0 12pt; text-align: justify"><B><I>Our products and services may fail to
keep pace with rapidly changing technology and evolving industry standards.</I></B></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0 0 12pt; text-align: justify">The markets in which we operate are characterized
by rapid, and sometimes disruptive, technological developments, evolving industry standards, frequent new product introductions and enhancements
and changes in customer requirements. In addition, both traditional and new competitors are investing heavily in our market areas and
competing for customers. As next-generation video analytics technology continues to evolve, we must keep pace in order to maintain or
expand our market position. We continue to introduce new product offerings focused on automating mechanical and security inspections in
the rail, logistics, intermodal and government sectors as potential revenue drivers. If we are not able to successfully add staff resources
with sufficient technical skills to develop and bring these new products to market in a timely manner, achieve market acceptance of our
products and services or identify new market opportunities for our products and services, our business and results of operations may be
materially and adversely affected.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0 0 12pt; text-align: justify"></P>

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<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0 0 12pt; text-align: justify"><B><I>The market opportunity for our products
and services may not develop in the ways that we anticipate.</I></B></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0 0 12pt; text-align: justify">The demand for our products and services could
change quickly and in ways that we may not&#160;anticipate.&#160;Our operating results may be adversely affected if the market opportunity
for our products and services does not develop in the ways that we anticipate or if other technologies become more accepted or standard
in our industry or disrupt our technology platforms.<FONT STYLE="font-size: 4pt">&#160;</FONT></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0 0 12pt; text-align: justify"><B><I>Our revenues are dependent on general
economic conditions and the willingness of enterprises to invest in technology.</I></B></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0 0 12pt; text-align: justify">We believe that operators in the business sectors
we are focused on continue to be cautious about sustained economic growth and seek to maintain or improve profitability through cost control
and constrained spending. While our core technologies are designed to address cost reduction, other factors may cause companies to delay
or cancel capital projects, including the implementation of our products and services. In addition, the business sectors in which we are
focused are under financial pressure to reduce capital investment which may make it more difficult for us to close large contracts in
the immediate future. We believe there is a growing market trend toward more customers exploring operating expense models as opposed to
capital expense models for procuring technology. We believe the market trend toward operating expense models will continue as customers
seek ways of reducing their overhead and other costs. All of the foregoing may result in continued pressure on our ability to increase
our revenue and may potentially create competitive pricing pressures and price erosion. If these or other conditions limit our ability
to grow revenue or cause our revenue to decline our operating results may be materially and adversely affected.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0 0 12pt; text-align: justify"><B><I>Our working capital profile may shift
over time to require additional investment.</I></B></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0 0 12pt; text-align: justify">Historically, the Company has leveraged significant
milestone payments at a contract onset to fund the purchase of required materials. Expansion into a subscription format would allow the
Company to potentially transact faster and more routinely with a larger customer base than it has previously had. In certain instances
where the Company plans to build, own and operate its own assets, it will require a different working capital and capitalization strategy
whereby the Company will be required to make upfront investments without significant customer milestone payments to offset the investment.
The Company believes that this presents a short-term capital risk but is expected, long-term, to improve the overall performance of the
business.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0 0 12pt; text-align: justify"><B><I>Some of our competitors are larger and
have greater financial and other resources than we do.</I></B></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0 0 12pt; text-align: justify">Some of our product offerings compete and will
compete with other similar products from our competitors. These competitive products could be marketed by well-established, successful
companies that possess greater financial, marketing, distribution, personnel and other resources than we possess. In certain instances,
competitors with greater financial resources also may be able to enter a market in direct competition with us offering attractive marketing
tools to encourage the sale of products that compete with our products or present cost features that our target end users may find attractive.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0 0 12pt; text-align: justify"><B><I>We have a history of losses and our growth
plans may lead to additional losses and negative operating cash flows in the future.</I></B></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0 0 12pt; text-align: justify">Our accumulated deficit was approximately $76
million as of March 31, 2025. Our operating losses may continue as we continue to expend resources to further develop and enhance our
market expansion, complete prototyping for&#160;proof-of-concept, obtain regulatory clearances or approvals as required, expand our business
development activities and finance capabilities and conduct further research and development. We also expect to experience negative cash
flow in the short term until our revenues and margins increase at a rate greater than our expenses, which may not occur.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0 0 12pt; text-align: justify"><B><I>We may be unable to protect our intellectual
property, which could impair our competitive advantage, reduce our revenue, and increase our costs.</I></B></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0 0 12pt; text-align: justify">Our success and ability to compete depend in
part on our ability to maintain the proprietary aspects of our technologies and products. We rely on a combination of trade secrets, patents,
copyrights, trademarks, confidentiality agreements, and other contractual provisions to protect our intellectual property, but these measures
may provide only limited protection. We customarily enter into written confidentiality and non-disclosure agreements with our employees,
consultants, customers, manufacturers, and other recipients of information about our technologies and products and assignment of invention
agreements with our employees and consultants. We may not always be able to enforce these agreements and may fail to enter into any such
agreement in every instance when appropriate. We license from third-parties certain technology used in and for our products. These third-party
licenses are granted with restrictions; therefore, such third-party technology may not remain available to us on terms beneficial to us.
Our failure to enforce and protect our intellectual property rights or obtain from third parties the right to use necessary technology
could have a material adverse effect on our business, operating results, and financial condition. In addition, the laws of some foreign
countries do not protect proprietary rights as fully as do the laws of the United States.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0 0 12pt; text-align: justify"></P>

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<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0 0 12pt; text-align: justify">Patents may not be issued from the patent applications
that we have filed or may file in the future. Our issued patents may be challenged, invalidated, or circumvented, and claims of our patents
may not be of sufficient scope or strength, or issued in the proper geographic regions, to provide meaningful protection or any commercial
advantage. We have registered certain of our trademarks in the United States and other countries. We cannot assure you that we will obtain
registrations of principal or other trademarks in key markets in the future. Failure to obtain registrations could compromise our ability
to protect fully our trademarks and brands and could increase the risk of challenge from third parties to our use of our trademarks and
brands.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0 0 12pt; text-align: justify"><B><I>We may be required to incur substantial
expenses and divert management attention and resources in defending intellectual property litigation against us.</I></B></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0 0 12pt; text-align: justify">We cannot be certain that our technologies
and products do not and will not infringe on issued patents or other proprietary rights of others. While we are not currently subject
to any infringement claim, any future claim, with or without merit, could result in significant litigation costs and diversion of resources,
including the attention of management, and could require us to enter into royalty and licensing agreements, any of which could have a
material adverse effect on our business. We may not be able to obtain such licenses on commercially reasonable terms, if at all, or the
terms of any offered licenses may be unacceptable to us. If forced to cease using such technology, we may be unable to develop or obtain
alternate technology. Accordingly, an adverse determination in a judicial or administrative proceeding, or failure to obtain necessary
licenses, could prevent us from manufacturing, using, or selling certain of our products, which could have a material adverse effect on
our business, operating results, and financial condition.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0 0 12pt; text-align: justify">Furthermore, parties making such claims could
secure a judgment awarding substantial damages, as well as injunctive or other equitable relief, which could effectively block our ability
to make, use, or sell our products in the United States or abroad. Such a judgment could have a material adverse effect on our business,
operating results, and financial condition. In addition, we are obligated under certain agreements to indemnify the other party in connection
with infringement by us of the proprietary rights of third parties. In the event that we are required to indemnify parties under these
agreements, it could have a material adverse effect on our business, financial condition, and results of operations.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0 0 12pt; text-align: justify"><B><I>We may incur substantial expenses and
divert management resources in prosecuting others for their unauthorized use of our intellectual property rights.</I></B></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0 0 12pt; text-align: justify">Other companies, including our competitors,
may develop technologies that are similar or superior to our technologies, duplicate our technologies, or design around our patents, and
may have or obtain patents or other proprietary rights that would prevent, limit, or interfere with our ability to make, use, or sell
our products. Although we do not have operations outside North America at this time, we may compete for contracts in other countries in
the future. Effective intellectual property protection may be unavailable, or limited, in some foreign countries in which we may do business,
such as China. Unauthorized parties may attempt to copy or otherwise use aspects of our technologies and products that we regard as proprietary.
Our means of protecting our proprietary rights in the United States or abroad may not be adequate or competitors may independently develop
similar technologies. If our intellectual property protection is insufficient to protect our intellectual property rights, we could face
increased competition in the market for our technologies and products.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0 0 12pt; text-align: justify">Should any of our competitors file patent applications
or obtain patents that claim inventions also claimed by us, we may choose to participate in an interference proceeding to determine the
right to a patent for these inventions, because our business would be harmed if we fail to enforce and protect our intellectual property
rights. Even if the outcome is favorable, this proceeding could result in substantial cost to us and disrupt our business.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0 0 12pt; text-align: justify">In the future, we also may need to file lawsuits
to enforce our intellectual property rights, to protect our trade secrets, or to determine the validity and scope of the proprietary rights
of others. This litigation, whether successful or unsuccessful, could result in substantial costs and diversion of resources, which could
have a material adverse effect on our business, financial condition, and results of operations.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0 0 12pt; text-align: justify"><B><I>If we are unable to apply technology
effectively in driving value for our clients through technology-based solutions or gain internal efficiencies and effective internal controls
through the application of technology and related tools, our operating results, client relationships, growth and compliance programs could
be adversely affected.</I></B></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0 0 12pt; text-align: justify">Our future success depends, in part, on our
ability to anticipate and respond effectively to the threat and opportunity presented by new technology disruption and developments. These
may include new software applications or related services based on artificial intelligence, machine learning, or robotics. We may be exposed
to competitive risks related to the adoption and application of new technologies by established market participants or new entrants, start-up
companies and others. These new entrants are focused on using technology and innovation, including artificial intelligence, to simplify
and improve the client experience, increase efficiencies, alter business models and effect other potentially disruptive changes in the
industries in which we operate. We must also develop and implement technology solutions and technical expertise among our employees that
anticipate and keep pace with rapid and continuing changes in technology, industry standards, client preferences and internal control
standards. We may not be successful in anticipating or responding to these developments on a timely and cost-effective basis and our ideas
may not be accepted in the marketplace. Additionally, the effort to gain technological expertise and develop new technologies in our business
requires us to incur significant expenses. If we cannot offer new technologies as quickly as our competitors, or if our competitors develop
more cost-effective technologies or product offerings, we could experience a material adverse effect on our operating results, client
relationships, growth and compliance programs.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0 0 12pt; text-align: justify"></P>

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<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0 0 12pt; text-align: justify">We are dependent on information technology
networks and systems to securely process, transmit and store electronic information and to communicate among our locations around North
America and with our people, clients, partners and vendors. As the breadth and complexity of this infrastructure continues to grow, including
as a result of the use of mobile technologies, social media and cloud-based services, the risk of security breaches and cyberattacks increases.
Such breaches could lead to shutdowns or disruptions of or damage to our systems and those of our clients, alliance partners and vendors,
and unauthorized disclosure of sensitive or confidential information, including personal data. In the past, we have experienced data security
breaches resulting from unauthorized access to our and our service providers&#8217; systems, which to date have not had a material impact
on our operations, however, there is no assurance that such impacts will not be material in the future.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0 0 12pt; text-align: justify">In providing services and solutions to clients,
we may be required to manage, utilize and store sensitive or confidential client data, possibly including personal data, and we anticipate
these activities to increase, including through the use of artificial intelligence, the internet of things and analytics. Unauthorized
disclosure of sensitive or confidential client data, whether through systems failure, employee negligence, fraud, misappropriation, or
other intentional or unintentional acts, could damage our reputation, could cause us to lose clients and could result in significant financial
exposure. Similarly, unauthorized access to our or through our or our service providers&#8217; information systems or those we develop
for our clients, whether by our employees or third parties, including a cyberattack by computer programmers, hackers, members of organized
crime and/or state-sponsored organizations, who continuously develop and deploy viruses, ransomware or other malicious software programs
or social engineering attacks, could result in negative publicity, significant remediation costs, legal liability, damage to our reputation
and government sanctions and could have a material adverse effect on our results of operations. Cybersecurity threats are constantly expanding
and evolving, thereby increasing the difficulty of detecting and defending against them and maintaining effective security measures and
protocols.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0 0 12pt; text-align: justify"><B><I>We depend on key personnel who would
be difficult to replace, and our business plan will likely be harmed if we lose their services or cannot hire additional qualified personnel.</I></B></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0 0 12pt; text-align: justify">Our success depends substantially on the efforts
and abilities of our senior management and certain key personnel. The competition for qualified management and key personnel, especially
engineers, is intense. Although we maintain non-competition and non-disclosure covenants with all our key personnel, we do not have employment
agreements with many of them. The loss of services of key employees, or the inability to hire, train, and retain key personnel, especially
engineers and technical support personnel, could delay the development and sale of our products, disrupt our business, and interfere with
our ability to execute our business plan.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0 0 12pt; text-align: justify">Under the Asset Management Agreement, New APR
shares certain management functions with the Company and its subsidiaries, including the Chief Executive Officer, Chief Operating Officer,
Chief Commercial Officer and General Counsel, and other services will be provided by the Company in a combination of direct staffing with
specific experience in the power generation industry and other functions as necessary via a &#8220;shared services&#8221; agreement. This
may at times affect such employees&#8217;, including members of senior management, ability to devote time, attention, and effort to the
Company.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0 0 12pt; text-align: justify"><B><I>Due to our dependence on a limited number
of customers, we are subject to a concentration of credit risk.</I></B></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0 0 12pt; text-align: justify">For the year ended December 31, 2024, four
customers accounted for 34%, 31%, 13% and 12% of revenues. For the year ended December 31, 2023, three customers accounted for 48%, 30%,
and 11% of revenues. For the three months ended March 31, 2025, three customers accounted for 60% (related party), 18% (related party),
and 11% of revenues. In most cases, there are no minimum contract values stated. Each contract covers an agreement to deliver a rail inspection
portal which, once accepted, must be paid in full, with 30% or more being due and payable prior to delivery. The balances of the contracts
are for service and maintenance which may be paid annually in advance with revenues recorded ratably over the contract period.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0 0 12pt; text-align: justify">As of December 31, 2024, three customers accounted
for 73%, 17% and 10% of our accounts receivable. As of March 31, 2025, one customer, who is also a related party, accounted for 89% of
our accounts receivable. In the case of insolvency by one of our significant customers, accounts receivable with respect to that customer
might not be collectible, might not be fully collectible, or might be collectible over longer than normal terms, each of which could adversely
affect our financial position. This concentration of credit risk makes us more vulnerable economically. The loss of any of these customers
could materially reduce our revenues and net income, which could have a material adverse effect on our business. We expect this concentration
risk will increase due to the significance of the anticipated revenues under the AMA with New APR.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0 0 12pt; text-align: justify"></P>

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<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0 0 12pt; text-align: justify"><B><I>Our anticipated business growth is highly
dependent on an Asset Management Agreement with New APR Energy.</I></B></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0 0 12pt; text-align: justify">The Company is expecting to report improved
revenues and potentially achieve profitability during fiscal year 2025. That expectation is based on substantial revenues being achieved
from the AMA with New APR. Although the Company has some influence on that agreement, we are dependent on the market for &#8220;behind
the meter&#8221; power growing as anticipated. If the market should not grow as anticipated or due to some other circumstances either
within or beyond our control, revenues recognized from this agreement could be substantially less than expected which would have a material
impact on the agreement or lead to its cancellation.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0 0 12pt; text-align: justify">In addition, New APR&#8217;s business may be
affected by new technologies or changes in the industry, regulations, and customer requirements, which may render its existing power generating
solutions obsolete, excessively costly or otherwise unmarketable. Its competitive position may then be impaired, which could have a material
adverse effect on the Company&#8217;s business.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0 0 12pt; text-align: justify">The term of the AMA is for two years and it
may be extended at the option of New APR. There is no assurance, however, that it will be extended and it may be terminated under certain
circumstances.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0 0 12pt; text-align: justify"><B><I>Changes in the Availability of Government
Financing May Adversely Affect Our Customer&#8217;s Ability to Enter Into Major Capital Projects, such as Data Centers.</I></B></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0 0 12pt; text-align: justify">The strategy of our Duos Edge subsidiary is
to serve rural communities, also known as Tier 3 and 4 markets, and install Edge data centers in these locations. The customers for which
we might build these Edge data centers may be dependent on Government grants or financing to assist them to complete these projects. Any
reductions in the availability of such grants or financing may adversely affect the ability of these parties to enter into such projects.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0 0 12pt"><B>Risks Related to Our Common Stock</B></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0 0 12pt; text-align: justify"><B><I>You may experience dilution of your ownership
interest due to future issuances of our securities.</I></B></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0 0 12pt; text-align: justify">We are in a capital-intensive business, and
we may not have sufficient funds to finance the growth of our business or to support our projected capital expenditures. As a result,
we may require additional funds from future equity or debt financing, including potential sales of preferred shares or convertible debt,
to complete the development of new projects and pay the general and administrative costs of our business. We may in the future issue our
previously authorized and unissued securities, resulting in the dilution of the ownership interests of holders of our common stock. We
are currently authorized to issue 500,000,000 shares of common stock and 10,000,000 shares of preferred stock. We may also issue additional
shares of common stock or other securities that are convertible into or exercisable for common stock in future public offerings or private
placements for capital raising purposes or for other business purposes. The future issuance of a substantial number of shares of common
stock into the public market, or the perception that such issuance could occur, could adversely affect the prevailing market price of
our common shares. A decline in the price of our common stock could make it more difficult to raise funds through future offerings of
our common stock or securities convertible into common stock.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0 0 12pt; text-align: justify"><B><I>Our Board of Directors may issue and
fix the terms of shares of our Preferred Stock without stockholder approval, which could adversely affect the voting power of holders
of our Common Stock or any change in control of our Company.</I></B></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0 0 12pt; text-align: justify">Our Articles of Incorporation authorize the
issuance of up to 10,000,000 shares of &#8220;blank check&#8221; preferred stock, with such designation rights and preferences as may
be determined from time to time by the Board of Directors. Our Board of Directors is empowered, without shareholder approval, to issue
shares of preferred stock with dividend, liquidation, conversion, voting or other rights which could adversely affect the voting power
or other rights of the holders of our common stock. In the event of such issuances, the preferred stock could be used, under certain circumstances,
as a method of discouraging, delaying, or preventing a change in control of our Company.&#160;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0 0 12pt; text-align: justify"><B><I>We are currently conducting an &#8220;At
the Market&#8221; (ATM) offering and may consider registering additional shares using our S-3 shelf registration facility.</I></B></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0 0 12pt; text-align: justify">We currently have an active shelf registration
statement (S-3). We are currently conducting an ATM offering for up to $10,500,000 of common stock. The future issuance of a substantial
number of shares of common stock into the public market, or the perception that such issuance could occur, could adversely affect the
prevailing market price of our common shares. A decline in the price of our common stock could make it more difficult to raise funds through
future offerings of our common stock or securities convertible into common stock.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0 0 12pt; text-align: justify"></P>

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<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0 0 12pt; text-align: justify"><B><I>We do not expect to pay dividends and
investors should not buy our common stock expecting to receive dividends.</I></B></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0 0 12pt; text-align: justify">We do not anticipate that we will declare or
pay any dividends in the foreseeable future. Consequently, you will only realize an economic gain on your investment in our common stock
if the price appreciates. You should not purchase our common stock expecting to receive cash dividends. Accordingly, our stockholders
will not realize a return on their investment unless the trading price of our common stock appreciates, which is uncertain and unpredictable.
In addition, because we do not pay dividends, our common stock may be less attractive, which may cause us to have trouble raising additional
funds which could affect our ability to expand our business operations.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0 0 12pt; text-align: justify"><B><I>Our operating results are likely to fluctuate
from period to period.</I></B></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0 0 12pt; text-align: justify">We anticipate that there may be significant
fluctuations in our future operating results. Potential causes of future fluctuations in our operating results may include:</P>

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    <TD STYLE="width: 32px"><FONT STYLE="font-family: Symbol">&#183;</FONT><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif">&#160;&#160;&#160;</FONT></TD>
    <TD>Period-to-period fluctuations in financial results</TD></TR>
  <TR STYLE="vertical-align: top">
    <TD>&#160;</TD>
    <TD><FONT STYLE="font-family: Symbol">&#183;</FONT></TD>
    <TD>Issues in manufacturing products</TD></TR>
  <TR STYLE="vertical-align: top">
    <TD>&#160;</TD>
    <TD><FONT STYLE="font-family: Symbol">&#183;</FONT></TD>
    <TD>Unanticipated potential product liability claims</TD></TR>
  <TR STYLE="vertical-align: top">
    <TD>&#160;</TD>
    <TD><FONT STYLE="font-family: Symbol">&#183;</FONT></TD>
    <TD>The introduction of technological innovations or new commercial products by competitors</TD></TR>
  <TR STYLE="vertical-align: top">
    <TD>&#160;</TD>
    <TD><FONT STYLE="font-family: Symbol">&#183;</FONT></TD>
    <TD>The entry into, or termination of, key agreements, including key strategic alliance agreements</TD></TR>
  <TR STYLE="vertical-align: top">
    <TD>&#160;</TD>
    <TD><FONT STYLE="font-family: Symbol">&#183;</FONT></TD>
    <TD>The initiation of litigation to enforce or defend any of our intellectual property rights</TD></TR>
  <TR STYLE="vertical-align: top">
    <TD>&#160;</TD>
    <TD><FONT STYLE="font-family: Symbol">&#183;</FONT></TD>
    <TD>Regulatory changes</TD></TR>
  <TR STYLE="vertical-align: top">
    <TD>&#160;</TD>
    <TD><FONT STYLE="font-family: Symbol">&#183;</FONT></TD>
    <TD>Failure of any of our products to achieve commercial success</TD></TR>
  </TABLE>
<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0">&#160;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0 0 12pt; text-align: justify"><B><I>We are subject to the Florida anti-takeover
provisions, which may prevent you from exercising a vote on business combinations, mergers or otherwise.</I></B></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0 0 12pt; text-align: justify">As a Florida corporation, we are subject to
certain anti-takeover provisions that apply to public corporations under Florida law. Pursuant to Section 607.0901 of the Florida Business
Corporation Act, or the Florida Act, a publicly held Florida corporation, under certain circumstances, may not engage in a broad range
of business combinations or other extraordinary corporate transactions with an interested shareholder without the approval of the holders
of two-thirds of the voting shares of the corporation (excluding shares held by the interested shareholder).</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0 0 12pt; text-align: justify">An interested shareholder is defined as a person
who together with affiliates and associates beneficially owns more than 15% of a corporation&#8217;s outstanding voting shares. We have
not made an election in our amended Articles of Incorporation to opt out of Section 607.0901.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0 0 12pt; text-align: justify">In addition, we are subject to Section 607.0902
of the Florida Act which prohibits the voting of shares in a publicly held Florida corporation that are acquired in a control-share acquisition
unless (i) our board of directors approved such acquisition prior to its consummation or (ii) after such acquisition, in lieu of prior
approval by our board of directors, the holders of a majority of the corporation&#8217;s voting shares, exclusive of shares owned by officers
of the corporation, employee directors or the acquiring party, approve the granting of voting rights as to the shares acquired in the
control-share acquisition. A control-share acquisition is defined as an acquisition that immediately thereafter entitles the acquiring
party to 20% or more of the total voting power in an election of directors.<B><BR>
</B></P>

<P STYLE="font: bold 10pt Times New Roman, Times, Serif; margin: 0 0 12pt; text-transform: uppercase; text-align: center"></P>

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<P STYLE="font: bold 10pt Times New Roman, Times, Serif; margin: 0 0 12pt; text-transform: uppercase; text-align: center"><FONT ID="a_0005"></FONT>CAUTIONARY NOTE
REGARDING FORWARD-LOOKING STATEMENTS</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0 0 12pt; text-align: justify">This prospectus contains forward-looking statements.
Forward-looking statements give our current expectations or forecasts of future events. You can identify these statements by the fact
that they do not relate strictly to historical or current facts. Forward-looking statements involve risks and uncertainties and include
statements regarding, among other things, our projected revenue growth and profitability, our growth strategies and opportunity, anticipated
trends in our market and our anticipated needs for working capital. They are generally identifiable by use of the words &#8220;may,&#8221;
&#8220;will,&#8221; &#8220;should,&#8221; &#8220;anticipate,&#8221; &#8220;estimate,&#8221; &#8220;plans,&#8221; &#8220;potential,&#8221;
&#8220;projects,&#8221; &#8220;continuing,&#8221; &#8220;ongoing,&#8221; &#8220;expects,&#8221; &#8220;management believes,&#8221; &#8220;we
believe,&#8221; &#8220;we intend&#8221; or the negative of these words or other variations on these words or comparable terminology. These
statements may be found under the sections entitled &#8220;<A HREF="#a_0010">Management&#8217;s Discussion and Analysis of Financial Condition and Results of Operations</A>&#8221; and &#8220;<A HREF="#a_0011">Business</A>,&#8221; as well as in this prospectus generally. In particular, these include statements relating
to future actions, prospective products, market acceptance, future performance or results of current and anticipated products, sales efforts,
expenses, and the outcome of contingencies such as legal proceedings and financial results.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0 0 12pt; text-align: justify">Examples of forward-looking statements in this
prospectus include, but are not limited to, our expectations regarding our business strategy, business prospects, operating results, operating
expenses, working capital, liquidity and capital expenditure requirements. Important assumptions relating to the forward-looking statements
include, among others, assumptions regarding demand for our products, the cost, terms and availability of components, pricing levels,
the timing and cost of capital expenditures, competitive conditions and general economic conditions. These statements are based on our
management&#8217;s expectations, beliefs and assumptions concerning future events affecting us, which in turn are based on currently available
information. These assumptions could prove inaccurate. Although we believe that the estimates and projections reflected in the forward-looking
statements are reasonable, our expectations may prove to be incorrect.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0 0 12pt; text-align: justify">Important factors that could cause actual results
to differ materially from the results and events anticipated or implied by such forward-looking statements include, but are not limited
to:</P>

<TABLE CELLSPACING="0" CELLPADDING="0" STYLE="font: 10pt Times New Roman, Times, Serif; width: 100%; border-collapse: collapse">
  <TR>
    <TD STYLE="width: 32px; text-align: justify">&#160;</TD>
    <TD STYLE="vertical-align: top; width: 32px; text-align: justify"><FONT STYLE="font-family: Symbol">&#183;</FONT></TD>
    <TD STYLE="vertical-align: top; text-align: justify">changes in the market acceptance of our products;</TD></TR>
  <TR>
    <TD STYLE="text-align: justify">&#160;</TD>
    <TD STYLE="vertical-align: top; text-align: justify"><FONT STYLE="font-family: Symbol">&#183;</FONT></TD>
    <TD STYLE="vertical-align: top; text-align: justify">increased levels of competition;</TD></TR>
  <TR>
    <TD STYLE="text-align: justify">&#160;</TD>
    <TD STYLE="vertical-align: top; text-align: justify"><FONT STYLE="font-family: Symbol">&#183;</FONT></TD>
    <TD STYLE="vertical-align: top; text-align: justify">changes in political, economic or regulatory conditions generally and in the markets in which we operate;</TD></TR>
  <TR>
    <TD STYLE="text-align: justify">&#160;</TD>
    <TD STYLE="vertical-align: top; text-align: justify"><FONT STYLE="font-family: Symbol">&#183;</FONT></TD>
    <TD STYLE="vertical-align: top; text-align: justify">our relationships with our key customers;</TD></TR>
  <TR>
    <TD STYLE="text-align: justify">&#160;</TD>
    <TD STYLE="vertical-align: top; text-align: justify"><FONT STYLE="font-family: Symbol">&#183;</FONT></TD>
    <TD STYLE="vertical-align: top; text-align: justify">our ability to retain and attract senior management and other key employees;</TD></TR>
  <TR>
    <TD STYLE="text-align: justify">&#160;</TD>
    <TD STYLE="vertical-align: top; text-align: justify"><FONT STYLE="font-family: Symbol">&#183;</FONT></TD>
    <TD STYLE="vertical-align: top; text-align: justify">our ability to quickly and effectively respond to new technological developments;</TD></TR>
  <TR>
    <TD STYLE="text-align: justify">&#160;</TD>
    <TD STYLE="vertical-align: top; text-align: justify"><FONT STYLE="font-family: Symbol">&#183;</FONT></TD>
    <TD STYLE="vertical-align: top; text-align: justify">our ability to protect our trade secrets or other proprietary rights, operate without infringing upon the proprietary rights of others and prevent others from infringing on the proprietary rights of the Company; and</TD></TR>
  <TR>
    <TD STYLE="text-align: justify">&#160;</TD>
    <TD STYLE="vertical-align: top; text-align: justify"><FONT STYLE="font-family: Symbol">&#183;</FONT></TD>
    <TD STYLE="vertical-align: top; text-align: justify">other risks, including those described in the &#8220;Risk Factors&#8221; discussion of this prospectus.</TD></TR>
  </TABLE>
<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify">&#160;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0 0 12pt; text-align: justify">We operate in a very competitive and rapidly
changing environment. New risks emerge from time to time. It is not possible for us to predict all of those risks, nor can we assess the
impact of all of those risks on our business or the extent to which any factor may cause actual results to differ materially from those
contained in any forward-looking statement. The forward-looking statements in this prospectus are based on assumptions management believes
are reasonable. However, due to the uncertainties associated with forward-looking statements, you should not place undue reliance on any
forward-looking statements. Further, forward-looking statements speak only as of the date they are made, and unless required by law, we
expressly disclaim any obligation or undertaking to publicly update any of them in light of new information, future events, or otherwise.</P>


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<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0"><B>&#160;</B></P>

<P STYLE="font: bold 10pt Times New Roman, Times, Serif; margin: 0 0 12pt; text-transform: uppercase; text-align: center"><FONT ID="a_0006"></FONT>USE OF PROCEEDS</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0 0 12pt; text-align: justify"><FONT STYLE="background-color: white">We will
not receive any proceeds from the sale of common stock by the Selling Stockholders. All of the net proceeds from the sale of our common
stock will go to the Selling Stockholders as described below in the sections entitled &#8220;<A HREF="#a_0007">Selling Stockholders</A>&#8221; and &#8220;<A HREF="#a_0008">Plan of Distribution</A>&#8221;. We have agreed to bear the expenses relating to the registration of the common stock for the Selling Stockholders.</FONT></P>


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<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0"><B>&#160;</B></P>

<P STYLE="font: bold 10pt Times New Roman, Times, Serif; margin: 0 0 12pt; text-transform: uppercase; text-align: center"><FONT ID="a_0007"></FONT>SELLING STOCKHOLDERS</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0 0 12pt; text-align: justify">On March 27, 2023, November 10, 2023, March
22, 2024, and March 28, 2024, the Company entered into Securities Purchase Agreements (the &#34;Purchase Agreements&#34;) with certain
existing and other accredited investors (the &#34;Selling Stockholders&#34;). Pursuant to the Purchase Agreements, the Selling Stockholders
purchased an aggregate of 13,625 shares of Series E Preferred Stock, at a price in each case of $1,000 per share, and the Company received
proceeds of $13,625,000.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0 0 12pt; text-align: justify">Each share of the Series E Preferred Stock
is convertible into Common Stock at $2.61 a share. Since the Purchase Agreements, an aggregate of 1,125 shares of Series E Preferred Stock
have been converted. If all of the remaining 12,500 shares of Series E Preferred Stock were converted, the Company would issue 4,789,273
shares of Common Stock.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0 0 12pt; text-align: justify">The shares of common stock being offered by
the Selling Stockholders are those issuable to the Selling Stockholders, upon conversion of the Series E Preferred Stock. We are registering
the shares of common stock in order to permit the Selling Stockholders to offer the shares for resale from time to time. Due to the ownership
of the shares of Series E Preferred Stock, as well as ownership of common and other preferred stock, the Selling Stockholders collectively
have had a material relationship with us within the past three years and hold the largest percentage ownership of the Company subject
to certain limitations as described herein.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0 0 12pt; text-align: justify">The table below lists the Selling Stockholders
and other information regarding the beneficial ownership of the shares of Common Stock by each of the Selling Stockholders. The first
column lists the number of shares of Common Stock beneficially owned by each Selling Stockholder as of July 7, 2025, assuming conversion
of the Series E Preferred Stock, as well as conversion of other convertible preferred stock held by the Selling Stockholders on that date.
The third column lists the shares of Common Stock being offered by this prospectus by the Selling Stockholders.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0 0 12pt; text-align: justify">In accordance with the terms of registration
rights agreements with the Selling Stockholders, this prospectus generally covers the resale of the maximum number of shares of common
stock issuable upon conversion of the Series E Preferred Stock, determined as if the outstanding shares of Series E Preferred Stock were
converted in full as of the trading day immediately preceding the applicable date of determination and subject to adjustment as provided
in the registration rights agreements, without regard to any limitations on the conversion of the Series E Preferred Stock. The fourth
column assumes the sale of all of the shares offered by the Selling Stockholders pursuant to this prospectus.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0 0 12pt; text-align: justify">Under the terms of the Series E Preferred Certificate
of Designation, a Selling Stockholder may not convert the Series E Preferred Stock to the extent such conversion would cause such Selling
Stockholder, together with its affiliates and attribution parties, to beneficially own a number of shares of common stock which would
exceed 19.99% of our then outstanding common stock following such conversion. In the case of each such conversion, the determination of
beneficial ownership would exclude shares of common stock issuable upon conversion of the preferred stock which has not been converted.
The numbers of shares in the second column do not reflect these limitations. The Selling Stockholders may sell all, some, or none of their
shares in this offering. See &#8220;<A HREF="#a_0008">Plan of Distribution</A>.&#8221;</P>


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<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0">&#160;</P>

<TABLE CELLPADDING="0" CELLSPACING="0" STYLE="font: 10pt Times New Roman, Times, Serif; border-collapse: collapse; width: 100%">
  <TR STYLE="vertical-align: bottom">
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    <TD COLSPAN="2" STYLE="border-bottom: Black 1pt solid; font-size: 8pt; font-weight: bold; text-align: center"><FONT STYLE="font-size: 8pt"><B>Number of <BR> shares of <BR> Common Stock<BR> Owned&#160;Prior<BR> to&#160;Offering&#160;<SUP>(1)</SUP></B></FONT></TD><TD STYLE="padding-bottom: 1pt; font-size: 8pt; font-weight: bold">&#160;</TD><TD STYLE="font-size: 8pt; font-weight: bold; padding-bottom: 1pt">&#160;</TD>
    <TD COLSPAN="2" STYLE="border-bottom: Black 1pt solid; font-size: 8pt; font-weight: bold; text-align: center">% of shares<BR> of Common <BR> Stock Owned<BR> Prior to<BR> Offering</TD><TD STYLE="padding-bottom: 1pt; font-size: 8pt; font-weight: bold">&#160;</TD><TD STYLE="font-size: 8pt; font-weight: bold; padding-bottom: 1pt">&#160;</TD>
    <TD COLSPAN="2" STYLE="border-bottom: Black 1pt solid; font-size: 8pt; font-weight: bold; text-align: center"><FONT STYLE="font-size: 8pt"><B>Maximum <BR> Number of <BR> Shares of<BR> Common Stock <BR> to be Sold<BR> Pursuant to <BR> this <BR> Prospectus<SUP>(1)</SUP></B></FONT></TD><TD STYLE="padding-bottom: 1pt; font-size: 8pt; font-weight: bold">&#160;</TD><TD STYLE="font-size: 8pt; font-weight: bold; padding-bottom: 1pt">&#160;</TD>
    <TD COLSPAN="2" STYLE="border-bottom: Black 1pt solid; font-size: 8pt; font-weight: bold; text-align: center">Number of <BR> shares of <BR> Common Stock<BR> Owned After<BR> Offering</TD><TD STYLE="padding-bottom: 1pt; font-size: 8pt; font-weight: bold">&#160;</TD><TD STYLE="font-size: 8pt; font-weight: bold; padding-bottom: 1pt">&#160;</TD>
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  <TR STYLE="vertical-align: bottom">
    <TD STYLE="font-size: 12pt">&#160;</TD><TD STYLE="font-size: 12pt">&#160;</TD>
    <TD COLSPAN="2" STYLE="font-size: 12pt; text-align: center">&#160;</TD><TD STYLE="font-size: 12pt">&#160;</TD><TD STYLE="font-size: 12pt">&#160;</TD>
    <TD COLSPAN="2" STYLE="font-size: 12pt">&#160;</TD><TD STYLE="font-size: 12pt">&#160;</TD><TD STYLE="font-size: 12pt">&#160;</TD>
    <TD COLSPAN="2" STYLE="font-size: 12pt; text-align: center">&#160;</TD><TD STYLE="font-size: 12pt">&#160;</TD><TD STYLE="font-size: 12pt">&#160;</TD>
    <TD COLSPAN="2" STYLE="font-size: 12pt; text-align: center">&#160;</TD><TD STYLE="font-size: 12pt">&#160;</TD><TD STYLE="font-size: 12pt">&#160;</TD>
    <TD COLSPAN="2" STYLE="font-size: 12pt">&#160;</TD><TD STYLE="font-size: 12pt">&#160;</TD></TR>
  <TR STYLE="vertical-align: bottom; background-color: rgb(204,238,255)">
    <TD STYLE="width: 25%"><FONT STYLE="font-size: 10pt">21 April Fund Ltd.<SUP>(2)</SUP></FONT></TD><TD STYLE="width: 1%">&#160;</TD>
    <TD STYLE="width: 1%; text-align: left">&#160;</TD><TD STYLE="width: 12%; text-align: right">4,670,505</TD><TD STYLE="width: 1%; text-align: left">&#160;</TD><TD STYLE="width: 1%">&#160;</TD>
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    <TD STYLE="width: 1%; text-align: left">&#160;</TD><TD STYLE="width: 12%; text-align: right">3,263,986</TD><TD STYLE="width: 1%; text-align: left">&#160;</TD><TD STYLE="width: 1%">&#160;</TD>
    <TD STYLE="width: 1%; text-align: left">&#160;</TD><TD STYLE="width: 12%; text-align: right">1,406,519</TD><TD STYLE="width: 1%; text-align: left">&#160;</TD><TD STYLE="width: 1%">&#160;</TD>
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    <TD STYLE="text-align: left">&#160;</TD><TD STYLE="text-align: right">1,525,287</TD><TD STYLE="text-align: left">&#160;</TD><TD>&#160;</TD>
    <TD STYLE="text-align: left">&#160;</TD><TD STYLE="text-align: right">554,287</TD><TD STYLE="text-align: left">&#160;</TD><TD>&#160;</TD>
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<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0"><B>&#160;</B></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0">&#8212;&#8212;&#8212;&#8212;&#8212;&#8212;&#8212;</P>

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  <TR STYLE="vertical-align: top">
    <TD STYLE="width: 5%">(1)</TD>
    <TD STYLE="width: 95%; text-align: justify">The actual number of shares of Common Stock offered hereby and included in the registration statement of which this prospectus is a part includes, in accordance with Rule 416 under the Securities Act, such indeterminate number of additional shares of our Common Stock as may become issuable in connection with any proportionate adjustment for any stock splits, stock combinations, stock dividends, recapitalizations, anti-dilution adjustments or similar events with respect to our Common Stock.</TD></TR>
  <TR STYLE="vertical-align: top">
    <TD STYLE="text-align: justify">(2)</TD>
    <TD STYLE="text-align: justify">Based on Amendment No. 8 to Schedule 13G/A filed by Bleichroeder LP (&#8220;Bleichroeder&#8221;) with the SEC on March 21, 2025 (the &#8220;Bleichroeder 13G/A&#8221;). According to the Bleichroeder 13G/A, Bleichroeder is an investment advisor registered under Section 203 of the Investment Advisers Act of 1940 and as of March 21, 2025 was deemed to be the beneficial owner of 1,283,162 shares of our Common Stock (21 April Fund, Ltd. held 929,522 shares and 21 April Fund, LP held 353,640 shares) as a result of acting as investment advisor to various clients. The 21 April Entities also purchased 999 shares of Series D Preferred Stock on September 30, 2022, which are convertible into 333,000 shares of Common Stock (21 April Fund, Ltd. holds 237,000 common equivalent shares and 21 April Fund, LP holds 96,000 common equivalent shares). The 21 April Entities also purchased 4,000 shares of Series E Preferred Stock on March 27, 2023, which were convertible into 1,334,334 shares of Common Stock (21 April Fund, Ltd. held 933,334 common equivalent shares and 21 April Fund, LP held 400,000 common equivalent shares). The 21 April Entities also purchased an additional 2,500 shares of Series E Preferred Stock on November 10, 2023, which were convertible into 833,333 shares of Common Stock (21 April Fund, Ltd. held 508,333 common equivalent shares and 21 April Fund, LP held 325,000 common equivalent shares). The 21 April Entities also purchased an additional 1,000 shares of Series E Preferred Stock on March 22, 2024, which were convertible into 333,334 shares of Common Stock (21 April Fund, Ltd. held 281,334 common equivalent shares and 21 April Fund, LP held 52,000 common equivalent shares). The 21 April Entities exchanged 5,000 shares of Series F Preferred Stock that were acquired in connection with the Purchase Agreement of Series F Convertible Preferred Stock, completed on August 2, 2023. The 5,000 shares of Series F Preferred Stock, originally convertible into 806,452 common shares, were exchanged for 5,000 shares of Series E Convertible Preferred Stock on November 10, 2023, which were convertible into 1,666,667 shares of Common Stock, representing an additional 860,215 common share equivalents (21 April Fund, Ltd. then held 1,226,667 common equivalent shares and 21 April Fund, LP then held 550,000 common equivalent shares). On September 14, 2024, the conversion price of the Series E Preferred Stock was lowered to $2.61 from $3.00 per share, resulting in an additional 622,606 shares of Common Stock being issuable upon conversion (21 April Fund, Ltd. adding an additional 424,318 common equivalent shares and 21 April Fund LP adding an additional 198,287 common equivalent shares).&#160;&#160;Conversion of the Series D Preferred Stock and the Series E Preferred Stock owned by the 21 April Entities is subject to a 19.99% beneficial ownership limitation.</TD></TR>
  <TR STYLE="vertical-align: top">
    <TD>&#160;</TD>
    <TD STYLE="text-align: justify">&#160;</TD></TR>
  <TR STYLE="vertical-align: top">
    <TD>&#160;</TD>
    <TD STYLE="text-align: justify">&#160;</TD></TR>
  <TR STYLE="vertical-align: top">
    <TD>&#160;</TD>
    <TD STYLE="text-align: justify">&#160;</TD></TR>
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<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0"><B>&#160;</B></P>

<P STYLE="font: bold 10pt Times New Roman, Times, Serif; margin: 0 0 12pt; text-transform: uppercase; text-align: center"><FONT ID="a_0008"></FONT>PLAN OF DISTRIBUTION</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0 0 12pt; text-align: justify">Each Selling Stockholder of the securities
and any of their pledgees, assignees and successors-in-interest may, from time to time, sell any or all of their securities covered hereby
on the principal Trading Market or any other stock exchange, market or trading facility on which the securities are traded or in private
transactions. These sales may be at fixed or negotiated prices. A Selling Stockholder may use any one or more of the following methods
when selling securities:</P>

<TABLE CELLSPACING="0" CELLPADDING="0" STYLE="font: 10pt Times New Roman, Times, Serif; width: 100%; border-collapse: collapse">
  <TR STYLE="vertical-align: top">
    <TD STYLE="width: 48px; text-align: justify">&#160;</TD>
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    <TD STYLE="text-align: justify">ordinary brokerage transactions and transactions in which the broker-dealer solicits purchasers; </TD></TR>
  <TR STYLE="vertical-align: top">
    <TD STYLE="text-align: justify">&#160;</TD>
    <TD STYLE="text-align: justify"><FONT STYLE="font-family: Symbol">&#183;</FONT></TD>
    <TD STYLE="text-align: justify">block trades in which the broker-dealer will attempt to sell the securities as agent but may position and resell a portion of the block as principal to facilitate the transaction; </TD></TR>
  <TR STYLE="vertical-align: top">
    <TD STYLE="text-align: justify">&#160;</TD>
    <TD STYLE="text-align: justify"><FONT STYLE="font-family: Symbol">&#183;</FONT></TD>
    <TD STYLE="text-align: justify">purchases by a broker-dealer as principal and resale by the broker-dealer for its account; </TD></TR>
  <TR STYLE="vertical-align: top">
    <TD STYLE="text-align: justify">&#160;</TD>
    <TD STYLE="text-align: justify"><FONT STYLE="font-family: Symbol">&#183;</FONT></TD>
    <TD STYLE="text-align: justify">an exchange distribution in accordance with the rules of the applicable exchange; </TD></TR>
  <TR STYLE="vertical-align: top">
    <TD STYLE="text-align: justify">&#160;</TD>
    <TD STYLE="text-align: justify"><FONT STYLE="font-family: Symbol">&#183;</FONT></TD>
    <TD STYLE="text-align: justify">privately negotiated transactions; </TD></TR>
  <TR STYLE="vertical-align: top">
    <TD STYLE="text-align: justify">&#160;</TD>
    <TD><FONT STYLE="font-family: Symbol">&#183;</FONT></TD>
    <TD STYLE="text-align: justify">through one or more underwritten offerings on a firm commitment or best-efforts basis;</TD></TR>
  <TR STYLE="vertical-align: top">
    <TD STYLE="text-align: justify">&#160;</TD>
    <TD STYLE="text-align: justify"><FONT STYLE="font-family: Symbol">&#183;</FONT></TD>
    <TD STYLE="text-align: justify">settlement of short sales that are not in violation of Regulation SHO; </TD></TR>
  <TR STYLE="vertical-align: top">
    <TD STYLE="text-align: justify">&#160;</TD>
    <TD STYLE="text-align: justify"><FONT STYLE="font-family: Symbol">&#183;</FONT></TD>
    <TD STYLE="text-align: justify">in transactions through broker-dealers that agree with the Selling Stockholders to sell a specified number of such securities at a stipulated price per security; </TD></TR>
  <TR STYLE="vertical-align: top">
    <TD STYLE="text-align: justify">&#160;</TD>
    <TD STYLE="text-align: justify"><FONT STYLE="font-family: Symbol">&#183;</FONT></TD>
    <TD STYLE="text-align: justify">through the writing or settlement of options or other hedging transactions, whether through an options exchange or otherwise; </TD></TR>
  <TR STYLE="vertical-align: top">
    <TD STYLE="text-align: justify">&#160;</TD>
    <TD STYLE="text-align: justify"><FONT STYLE="font-family: Symbol">&#183;</FONT></TD>
    <TD STYLE="text-align: justify">through the distribution of securities by any Selling Stockholder to its parents, members or security holders;</TD></TR>
  <TR STYLE="vertical-align: top">
    <TD STYLE="text-align: justify">&#160;</TD>
    <TD STYLE="text-align: justify"><FONT STYLE="font-family: Symbol">&#183;</FONT></TD>
    <TD STYLE="text-align: justify">a combination of any such methods of sale; or </TD></TR>
  <TR STYLE="vertical-align: top">
    <TD STYLE="text-align: justify">&#160;</TD>
    <TD STYLE="text-align: justify"><FONT STYLE="font-family: Symbol">&#183;</FONT></TD>
    <TD STYLE="text-align: justify">any other method permitted pursuant to applicable law. </TD></TR>
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<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0">&#160;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0 0 12pt; text-align: justify">The Selling Stockholders may also sell securities
under Rule 144 or any other exemption from registration under the Securities Act of 1933, as amended (the &#8220;Securities Act&#8221;),
if available, rather than under this prospectus. The Selling Stockholders have the sole and absolute discretion not to accept any purchase
offer or make any sale of securities if they deem the purchase price to be unsatisfactory at any particular time.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0 0 12pt; text-align: justify">Broker-dealers engaged by the Selling Stockholders
may arrange for other brokers-dealers to participate in sales. Broker-dealers may receive commissions or discounts from the Selling Stockholders
(or, if any broker-dealer acts as agent for the purchaser of securities, from the purchaser) in amounts to be negotiated, but, except
as set forth in a supplement to this prospectus, in the case of an agency transaction not in excess of a customary brokerage commission
in compliance with FINRA Rule 2440; and in the case of a principal transaction a markup or markdown in compliance with FINRA IM-2440.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0 0 12pt; text-align: justify">In connection with the sale of the securities
or interests therein, the Selling Stockholders may enter into hedging transactions with broker-dealers or other financial institutions,
which may in turn engage in short sales of the securities in the course of hedging the positions they assume. The Selling Stockholders
may also sell securities short and deliver these securities to close out their short positions, or loan or pledge the securities to broker-dealers
that in turn may sell these securities. The Selling Stockholders may also enter into option or other transactions with broker-dealers
or other financial institutions or create one or more derivative securities which require the delivery to such broker-dealer or other
financial institution of securities offered by this prospectus, which securities such broker-dealer or other financial institution may
resell pursuant to this prospectus (as supplemented or amended to reflect such transaction).</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0 0 12pt; text-align: justify">The Selling Stockholders may from time-to-time
pledge or grant a security interest in some or all of their securities to their broker-dealers under the margin provisions of customer
agreements or to other parties to secure other obligations. If a Selling Stockholder defaults on a margin loan or other secured obligation,
the broker-dealer or secured party may, from time to time, offer and sell the securities pledged or secured thereby pursuant to this prospectus.
The Selling Stockholders and any other persons participating in the sale or distribution of the securities will be subject to applicable
provisions of the Securities Act and the Exchange Act, and the rules and regulations thereunder, including, without limitation, Regulation
M. These provisions may restrict certain activities of and limit the timing of purchases and sales of any of the securities by, the Selling
Stockholders or any other person, which limitations may affect the marketability of the securities.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0 0 12pt; text-align: justify">The Selling Stockholders also may transfer
the shares of our securities in other circumstances, in which case the transferees, pledgees or other successors-in-interest will be the
selling beneficial owners for purposes of this prospectus.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0 0 12pt; text-align: justify">A Selling Stockholder that is an entity may
elect to make a pro rata in-kind distribution of securities to its members, partners or shareholders pursuant to the registration statement
of which this prospectus is part by delivering a prospectus. To the extent that such members, partners or shareholders are not affiliates
of ours, such members, partners or shareholders would thereby receive freely tradeable securities pursuant to the distribution through
a registration statement.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0 0 12pt; text-align: justify"></P>

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<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0 0 12pt; text-align: justify">The Selling Stockholders and any broker-dealers
or agents that are involved in selling the securities may be deemed to be &#8220;underwriters&#8221; within the meaning of the Securities
Act in connection with such sales. In such event, any commissions received by such broker-dealers or agents and any profit on the resale
of the securities purchased by them may be deemed to be underwriting commissions or discounts under the Securities Act. Each Selling Stockholder
has informed the Company that it does not have any written or oral agreement or understanding, directly or indirectly, with any person
to distribute the securities.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0 0 12pt; text-align: justify">The Company is required to pay certain fees
and expenses incurred by the Company incident to the registration of the securities. The Company has agreed to indemnify the Selling Stockholders
against certain losses, claims, damages and liabilities, including liabilities under the Securities Act.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0 0 12pt; text-align: justify">We agreed to keep this prospectus effective
until the earlier of (i) the date on which the securities may be resold by the Selling Stockholders without registration and without regard
to any volume or manner-of-sale limitations by reason of Rule 144, without the requirement for the Company to be in compliance with the
current public information under Rule 144 under the Securities Act or any other rule of similar effect or (ii) all of the securities have
been sold pursuant to this prospectus or Rule 144 under the Securities Act or any other rule of similar effect. The resale securities
will be sold only through registered or licensed brokers or dealers if required under applicable state securities laws. In addition, in
certain states, the resale securities covered hereby may not be sold unless they have been registered or qualified for sale in the applicable
state or an exemption from the registration or qualification requirement is available and is complied with.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0 0 12pt; text-align: justify">Under applicable rules and regulations under
the Exchange Act, any person engaged in the distribution of the resale securities may not simultaneously engage in market making activities
with respect to the common stock for the applicable restricted period, as defined in Regulation M, prior to the commencement of the distribution.
In addition, the Selling Stockholders will be subject to applicable provisions of the Exchange Act and the rules and regulations thereunder,
including Regulation M, which may limit the timing of purchases and sales of the common stock by the Selling Stockholders or any other
person. We will make copies of this prospectus available to the Selling Stockholders and have informed them of the need to deliver a copy
of this prospectus to each purchaser at or prior to the time of the sale (including by compliance with Rule 172 under the Securities Act).</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0">&#160;</P>


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<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0"><B>&#160;</B></P>

<P STYLE="font: bold 10pt Times New Roman, Times, Serif; margin: 0 0 12pt; text-transform: uppercase; text-align: center"><FONT ID="a_0009"></FONT>MARKET FOR COMMON
EQUITY AND RELATED SHAREHOLDER MATTERS</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0 0 12pt; text-align: justify"><B>(a) Market Information</B></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0 0 12pt; text-align: justify">Our common stock is quoted on the Nasdaq Capital
Markets (&#8220;Nasdaq&#8221;) under the trading symbol &#8220;DUOT&#8221;.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0 0 12pt; text-align: justify"><B>(b) Holders</B></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0 0 12pt; text-align: justify">As of July 7, 2025, there were approximately
238 holders of record of our common stock, and the closing price of our common stock as reported on the Nasdaq Capital Market on July
7, 2025 was $7.85 per share.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0 0 12pt; text-align: justify">The transfer agent and registrar for our common
stock is Continental Stock Transfer &amp; Trust Company located at 1 State Street, 30th Floor, New York, NY 10004.</P>

<P STYLE="font: bold 10pt Times New Roman, Times, Serif; margin: 0 0 12pt; text-transform: uppercase; text-align: center"><FONT ID="a_0010"></FONT>MANAGEMENT&#8217;S
DISCUSSION AND ANALYSIS OF<BR>
FINANCIAL CONDITION AND RESULTS OF OPERATIONS</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0 0 12pt; text-align: justify"><I>This Registration Statement on Form S-1
and other reports filed by the Company from time to time with the SEC (collectively, the &#8220;Filings&#8221;) contain or may contain
forward-looking statements and information that are based upon beliefs of, and information currently available to, the Company&#8217;s
management as well as estimates and assumptions made by Company&#8217;s management. Readers are cautioned not to place undue reliance
on these forward-looking statements, which are only predictions and speak only as of the date hereof. When used in the Filings, the words
&#8220;anticipate,&#8221; &#8220;believe,&#8221; &#8220;estimate,&#8221; &#8220;expect,&#8221; &#8220;future,&#8221; &#8220;intend,&#8221;
&#8220;plan,&#8221; or the negative of these terms and similar expressions as they relate to the Company or the Company&#8217;s management
identify forward-looking statements. Such statements reflect the current view of the Company with respect to future events and are subject
to risks, uncertainties, assumptions, and other factors, including the risks relating to the Company&#8217;s business, industry, and the
Company&#8217;s operations and results of operations. Should one or more of these risks or uncertainties materialize, or should the underlying
assumptions prove incorrect, actual results may differ significantly from those anticipated, believed, estimated, expected, intended,
or planned.</I></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0 0 12pt; text-align: justify"><I>Although the Company believes that the expectations
reflected in the forward-looking statements are reasonable, the Company cannot guarantee future results, levels of activity, performance,
or achievements. Except as required by applicable law, including the securities laws of the United States, the Company does not intend
to update any of the forward-looking statements to conform these statements to actual results.</I></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0 0 12pt; text-align: justify"><I>Our financial statements are prepared in
accordance with accounting principles generally accepted in the United States (&#8220;GAAP&#8221;). These accounting principles require
us to make certain estimates, judgments and assumptions. We believe that the estimates, judgments and assumptions upon which we rely are
reasonable based upon information available to us at the time that these estimates, judgments and assumptions are made. These estimates,
judgments and assumptions can affect the reported amounts of assets and liabilities as of the date of the financial statements as well
as the reported amounts of revenues and expenses during the periods presented. Our financial statements would be affected to the extent
there are material differences between these estimates and actual results. In many cases, the accounting treatment of a particular transaction
is specifically dictated by GAAP and does not require management&#8217;s judgment in its application. There are also areas in which management&#8217;s
judgment in selecting any available alternative would not produce a materially different result. The following discussion should be read
in conjunction with our financial statements and notes thereto appearing elsewhere in this Registration Statement on Form S-1.</I></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0 0 12pt; text-align: justify"><B>Overview</B></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0 0 12pt; text-align: justify">We intend for this discussion to provide information
that will assist in understanding our financial statements, the changes in certain key items in those financial statements, and the primary
factors that accounted for those changes, as well as how certain accounting principles affect our financial statements.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0 0 12pt; text-align: justify"><B>Plan of Operation </B></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0 0 12pt; text-align: justify">The Company&#8217;s growth strategy includes
expansion of its technology base through organic development efforts, strategic partnerships, and targeted acquisitions where appropriate.
The Company provides a broad range of technology solutions with a primary emphasis on the Vision Technology market sector, specifically
within the Machine Vision subsector. Machine Vision companies provide imaging-based automatic inspection and analysis for process control,
with the potential for expansion into additional industries. Duos is currently developing industry solutions targeting rail, trucking,
aviation, and other vehicle-based processes while also expanding into the fast-growing Edge Data Center and power generation markets.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0 0 12pt; text-align: justify"></P>

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<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0 0 12pt; text-align: justify">The Company&#8217;s flagship product, the Railcar
Inspection Portal (RIP), enables freight and transit railroad customers and select government agencies to conduct fully automated railcar
inspections in real-time as trains move at full speed. The RIP integrates sophisticated optical, laser, and speed sensors with edge computing
and artificial intelligence (AI) algorithms to detect safety and security defects instantly, allowing operators to take immediate action.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0 0 12pt; text-align: justify">In 2024, the Company made a strategic decision
to leverage its core expertise in high-speed data processing and AI-driven analysis to expand into additional markets. This resulted in
the formation of two new subsidiaries:</P>

<TABLE CELLSPACING="0" CELLPADDING="0" STYLE="font: 10pt Times New Roman, Times, Serif; width: 100%; border-collapse: collapse">
  <TR STYLE="vertical-align: top">
    <TD STYLE="width: 24px">&#160;</TD>
    <TD STYLE="width: 24px">1.</TD>
    <TD STYLE="text-align: justify"><B>Duos Edge AI (&#8220;Duos Edge&#8221;)</B> &#8211; Specializing in high-speed data processing through Edge Data Centers, Duos Edge is focused on serving underserved Tier 3 and Tier 4 markets, providing critical infrastructure for education, healthcare, and enterprise computing needs. The Edge Data Centers support applications requiring real-time response, reducing reliance on centralized cloud-based processing and improving efficiency.</TD></TR>
  <TR STYLE="vertical-align: top">
    <TD>&#160;</TD>
    <TD>2.</TD>
    <TD STYLE="text-align: justify"><B>Duos Energy Corporation (&#8220;Duos Energy&#8221;)</B> &#8211; Established to meet the growing demand for power generation outside of traditional utility grids, Duos Energy provides consulting, asset management, and operational expertise for rapid deployment power generation. Duos Energy has engaged in agreements with Fortress Investment Group (&#8220;FIG&#8221;) to support power generation solutions, particularly for data centers and AI-driven applications, managing approximately 850 MW of generating capacity.</TD></TR>
  </TABLE>
<P STYLE="font: 10pt Times New Roman, Times, Serif; text-align: justify"></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0 0 12pt; text-align: justify">The strategic expansion into Edge Computing
and power generation aligns with the Company's long-term vision to drive growth through diversified revenue streams while leveraging its
existing technology infrastructure and domain expertise.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0 0 12pt; text-align: justify"><B>Prospects and Outlook</B></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0 0 12pt; text-align: justify">The Company is focused on improving operational
and technical execution, which, in turn, will enable commercial expansion and new technology offerings. The primary objectives for 2025
and beyond include:</P>

<UL STYLE="margin-top: 0in; list-style-type: disc">

<LI STYLE="margin: 0; text-align: justify; background-color: white"><B>Expansion into power generation and energy solutions</B>: The newly
formed Duos Energy subsidiary is positioned to capitalize on the increasing demand for behind-the-meter (BTM) energy solutions. The Company&#8217;s
AMA with New APR, valued at approximately $42 million over two years, along with its 5% non-voting equity interest in the ultimate parent
of New APR, establishes a strong foundation for further market penetration in the fast power sector. This business expansion in conjunction
with the revenue generated under the AMA is expected to provide a significant portion of the Company&#8217;s revenues in 2025.</LI>

<LI STYLE="margin: 0; text-align: justify; background-color: white"><B>Expansion of the RIP business model</B>: The Company is shifting
to a modular and subscription-based approach, allowing customers to select specific Acquisition Modules suited to their operational needs.
This transition provides flexible pricing structures, improves scalability, and enhances recurring revenue streams through &#8220;RIP-as-a-Service.&#8221;</LI>

<LI STYLE="margin: 0; text-align: justify; background-color: white"><B>Deployment of AI-powered self-diagnostics</B>: Enhancing RIP systems
with AI-driven self-diagnostics enables real-time monitoring, improved system uptime, and predictive maintenance capabilities, reducing
operational disruptions for customers.</LI>

<LI STYLE="margin: 0; text-align: justify; background-color: white"><B>Integration of Edge Data Centers</B>: The Company is actively deploying
Edge Data Centers to enable faster, localized data processing, particularly in rural and underserved markets. The first site is operational
as of June 30, 2025 and the other 5 are expected to become operational in the second half of 2025 along with a further nine sites anticipated
for the second half of 2025 as well. These initial Edge Data Centers are providing scalable solutions for enterprise and government clients.</LI>

<LI STYLE="margin: 0; text-align: justify; background-color: white"><B>Enhancements in artificial intelligence and automation</B>: The
Company continues to refine its proprietary AI solutions, including computer vision, deep learning, and predictive analytics, to improve
inspection accuracy and operational efficiency across all product offerings.</LI>

<LI STYLE="margin: 0; text-align: justify; background-color: white"><B>Expansion into new vehicle inspection markets</B>: While the Company
remains committed to its core rail technology solutions, it continues to explore applications for scanning and inspecting other vehicle
types, including trucks, buses, and aircraft. These markets offer potential growth opportunities through partnerships with logistics providers,
government agencies, and commercial transport operators.</LI>

</UL>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0"></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0 0 12pt; text-align: justify">In 2024, Duos entered a long-term agreement
with a major Class 1 railroad, securing data access from its RIPs and enabling new subscription-based services for over 3,000 railcar
owners and lessors. This initiative is expected to open up significant new revenue streams while strengthening the Company's market leadership.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0 0 12pt; text-align: justify">The Company recognizes that technology adoption
within the rail industry can be a gradual process, requiring substantial capital investment from customers. To accelerate adoption, Duos
is focused on demonstrating clear ROI for its solutions, securing long-term service agreements, and pursuing partnerships that enhance
its value proposition. Additionally, investments in engineering and software development will ensure compliance with evolving Federal
Railroad Administration (FRA) and Association of American Railroad (AAR) standards, further positioning the Company for continued success
in the rail sector.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0 0 12pt; text-align: justify"></P>

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<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0 0 12pt; text-align: justify">With the diversification into Edge Computing
and power generation, coupled with continued growth in its core machine vision and AI-based inspection technologies, the Company is well-positioned
to drive increased revenue, improve profitability, and generate long-term shareholder value.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0 0 12pt; text-align: justify">Although the Company&#8217;s prospects for
future revenue growth are anticipated to be favorable, investing in our securities involves risk and careful consideration should be made
before deciding to purchase our securities. There are many risks that affect our business and results of operations, some of which are
beyond our control and unexpected macro events can have a severe impact on the business. Please see the risk factors identified in &#8220;Item
1A &#8211; Risk Factors&#8221; of our Annual Report on Form 10-K filed with the SEC on March 31, 2025.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0 0 12pt; text-align: justify"><B>Results of Operations</B></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0 0 12pt; text-align: justify">The following discussion should be read in
conjunction with the unaudited financial statements included in this prospectus.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0 0 12pt; text-align: justify"><B>Comparison for the Three Months Ended March
31, 2025 Compared to Three Months Ended March 31, 2024 </B></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0 0 12pt; text-align: justify">The following table sets forth a summary of
our unaudited Consolidated Statements of Operations and is used in the following discussions of our results of operations:</P>

<TABLE CELLPADDING="0" CELLSPACING="0" STYLE="font: 10pt Times New Roman, Times, Serif; border-collapse: collapse; width: 100%">
  <TR STYLE="vertical-align: bottom">
    <TD>&#160;</TD><TD STYLE="font-size: 8pt; font-weight: bold; padding-bottom: 1pt">&#160;</TD>
    <TD COLSPAN="6" STYLE="border-bottom: Black 1pt solid; font-size: 8pt; font-weight: bold; text-align: center">For the Three Months Ended<BR> March 31,</TD><TD STYLE="padding-bottom: 1pt; font-size: 8pt; font-weight: bold">&#160;</TD></TR>
  <TR STYLE="vertical-align: bottom">
    <TD>&#160;</TD><TD STYLE="font-size: 8pt; font-weight: bold; padding-bottom: 1pt">&#160;</TD>
    <TD COLSPAN="2" STYLE="border-bottom: Black 1pt solid; font-size: 8pt; font-weight: bold; text-align: center">2025</TD><TD STYLE="padding-bottom: 1pt; font-size: 8pt; font-weight: bold">&#160;</TD><TD STYLE="font-size: 8pt; font-weight: bold; padding-bottom: 1pt">&#160;</TD>
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  <TR STYLE="vertical-align: bottom">
    <TD>&#160;</TD><TD>&#160;</TD>
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  <TR STYLE="vertical-align: bottom; background-color: rgb(204,238,255)">
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    <TD STYLE="text-align: left">&#160;</TD><TD STYLE="text-align: right">94,632</TD><TD STYLE="text-align: left">&#160;</TD></TR>
  <TR STYLE="vertical-align: bottom; background-color: White">
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    <TD STYLE="border-bottom: Black 1pt solid; text-align: left">&#160;</TD><TD STYLE="border-bottom: Black 1pt solid; text-align: right">2,855,678</TD><TD STYLE="padding-bottom: 1pt; text-align: left">&#160;</TD></TR>
  <TR STYLE="vertical-align: bottom; background-color: rgb(204,238,255)">
    <TD STYLE="text-align: left">Loss from operations</TD><TD>&#160;</TD>
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    <TD STYLE="text-align: left">&#160;</TD><TD STYLE="text-align: right">(2,761,046</TD><TD STYLE="text-align: left">)</TD></TR>
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    <TD STYLE="border-bottom: Black 1pt solid; text-align: left">&#160;</TD><TD STYLE="border-bottom: Black 1pt solid; text-align: right">(290,035</TD><TD STYLE="padding-bottom: 1pt; text-align: left">)</TD><TD STYLE="padding-bottom: 1pt">&#160;</TD>
    <TD STYLE="border-bottom: Black 1pt solid; text-align: left">&#160;</TD><TD STYLE="border-bottom: Black 1pt solid; text-align: right">8,737</TD><TD STYLE="padding-bottom: 1pt; text-align: left">&#160;</TD></TR>
  <TR STYLE="vertical-align: bottom; background-color: rgb(204,238,255)">
    <TD STYLE="text-align: left; padding-bottom: 2.5pt">Net loss</TD><TD STYLE="padding-bottom: 2.5pt">&#160;</TD>
    <TD STYLE="border-bottom: Black 2.5pt double; text-align: left">$</TD><TD STYLE="border-bottom: Black 2.5pt double; text-align: right">(2,079,663</TD><TD STYLE="padding-bottom: 2.5pt; text-align: left">)</TD><TD STYLE="padding-bottom: 2.5pt">&#160;</TD>
    <TD STYLE="border-bottom: Black 2.5pt double; text-align: left">$</TD><TD STYLE="border-bottom: Black 2.5pt double; text-align: right">(2,752,309</TD><TD STYLE="padding-bottom: 2.5pt; text-align: left">)</TD></TR>
  </TABLE>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify">&#160;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0 0 12pt; text-align: justify"><B>Revenues</B></P>

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  <TR STYLE="vertical-align: bottom">
    <TD>&#160;</TD><TD STYLE="font-size: 8pt; font-weight: bold; padding-bottom: 1pt">&#160;</TD>
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  <TR STYLE="vertical-align: bottom">
    <TD>&#160;</TD><TD STYLE="font-size: 8pt; font-weight: bold; padding-bottom: 1pt">&#160;</TD>
    <TD COLSPAN="2" STYLE="border-bottom: Black 1pt solid; font-size: 8pt; font-weight: bold; text-align: center">2025</TD><TD STYLE="padding-bottom: 1pt; font-size: 8pt; font-weight: bold">&#160;</TD><TD STYLE="font-size: 8pt; font-weight: bold; padding-bottom: 1pt">&#160;</TD>
    <TD COLSPAN="2" STYLE="border-bottom: Black 1pt solid; font-size: 8pt; font-weight: bold; text-align: center">2024</TD><TD STYLE="padding-bottom: 1pt; font-size: 8pt; font-weight: bold">&#160;</TD><TD STYLE="font-size: 8pt; font-weight: bold; padding-bottom: 1pt">&#160;</TD>
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  <TR STYLE="vertical-align: bottom">
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    <TD COLSPAN="2" STYLE="text-align: right">&#160;</TD><TD>&#160;</TD><TD>&#160;</TD>
    <TD COLSPAN="2" STYLE="text-align: right">&#160;</TD><TD>&#160;</TD><TD>&#160;</TD>
    <TD COLSPAN="2" STYLE="text-align: right">&#160;</TD><TD>&#160;</TD></TR>
  <TR STYLE="vertical-align: bottom; background-color: rgb(204,238,255)">
    <TD STYLE="width: 49%; text-align: left">Technology systems</TD><TD STYLE="width: 1%">&#160;</TD>
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  <TR STYLE="vertical-align: bottom; background-color: White">
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    <TD STYLE="border-bottom: Black 1pt solid; text-align: left">&#160;</TD><TD STYLE="border-bottom: Black 1pt solid; text-align: right">800,825</TD><TD STYLE="padding-bottom: 1pt; text-align: left">&#160;</TD><TD STYLE="padding-bottom: 1pt">&#160;</TD>
    <TD STYLE="border-bottom: Black 1pt solid; text-align: left">&#160;</TD><TD STYLE="border-bottom: Black 1pt solid; text-align: right">510</TD><TD STYLE="padding-bottom: 1pt; text-align: left">%</TD></TR>
  <TR STYLE="vertical-align: bottom; background-color: rgb(204,238,255)">
    <TD STYLE="text-align: left; padding-bottom: 2.5pt">Total revenues</TD><TD STYLE="padding-bottom: 2.5pt">&#160;</TD>
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    <TD STYLE="border-bottom: Black 2.5pt double; text-align: left">&#160;</TD><TD STYLE="border-bottom: Black 2.5pt double; text-align: right">363</TD><TD STYLE="padding-bottom: 2.5pt; text-align: left">%</TD></TR>
  </TABLE>


<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify">&#160;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0 0 12pt; text-align: justify">The decreases in technology systems revenues
for the quarter ended March 31, 2025, compared to the quarter ended March 31, 2024, is primarily attributed to delays outside of the Company&#8217;s
control with deployment of our two high-speed Railcar Inspection Portals, which are recorded in the technology systems portion of our
business. Although these systems remain largely ready for deployment, customer delays at the deployment site continue to prevent installation
even though these two high-speed Railcar Inspection Portals were deep into their production and manufacturing phases, which did not allow
us to record the next phase of recognition. We believe that the customer is approaching the completion of the local site preparation and
is preparing for field installation later this year. The Company is anticipating potential further delays related to this project in light
of reviews currently being conducted by the Federal Government. Additionally, the Company continues to see opportunities for expansion
of its programs with existing customers. In spite of the timing delays that continue to impact the quarterly results, management remains
confident in the long-term potential of the RIP product.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0 0 12pt; text-align: justify">The significant increase in services revenue
for the quarter ended March 31, 2025, was primarily driven by Duos Energy beginning to execute on the Asset Management Agreement (&#34;AMA&#34;)
with New APR that was established on December 31, 2024. Under the AMA, Duos Energy oversees the deployment and operations of a fleet of
mobile gas turbines and related balance-of-plant inventory, providing management, sales, and operational support services to New APR.
As a result, the Company generated $3,010,625 in revenue from the AMA during the first quarter of 2025. In addition, the Company recognized
$904,125 in revenue from amortized deferred revenue liability associated with its 5% non-voting equity interest in the ultimate parent
of New APR. Revenue from the AMA and the 5% interest is reported under &#8220;Services and consulting &#8211; related parties&#8221; on
the income statement. Services revenue from the rail business also grew modestly during the quarter, supported by increases in service
pricing across existing customer contracts.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0 0 12pt; text-align: justify"></P>

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<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0 0 12pt; text-align: justify">The Company expects services revenue from both
its rail and power businesses to continue growing throughout 2025. Growth drivers include the anticipated deployment of additional power
plants under the AMA, the expansion of maintenance services related to new rail installations coming online, and the renewal of existing
service agreements.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0 0 12pt; text-align: justify"><B>Cost of Revenues</B></P>

<TABLE CELLPADDING="0" CELLSPACING="0" STYLE="font: 10pt Times New Roman, Times, Serif; border-collapse: collapse; width: 100%">
  <TR STYLE="vertical-align: bottom">
    <TD>&#160;</TD><TD STYLE="font-size: 8pt; font-weight: bold; padding-bottom: 1pt">&#160;</TD>
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  <TR STYLE="vertical-align: bottom">
    <TD>&#160;</TD><TD STYLE="font-size: 8pt; font-weight: bold; padding-bottom: 1pt">&#160;</TD>
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  <TR STYLE="vertical-align: bottom">
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    <TD COLSPAN="2" STYLE="text-align: right">&#160;</TD><TD>&#160;</TD><TD>&#160;</TD>
    <TD COLSPAN="2" STYLE="text-align: right">&#160;</TD><TD>&#160;</TD><TD>&#160;</TD>
    <TD COLSPAN="2" STYLE="text-align: right">&#160;</TD><TD>&#160;</TD></TR>
  <TR STYLE="vertical-align: bottom; background-color: rgb(204,238,255)">
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  <TR STYLE="vertical-align: bottom; background-color: White">
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    <TD STYLE="border-bottom: Black 1pt solid; text-align: left">&#160;</TD><TD STYLE="border-bottom: Black 1pt solid; text-align: right">392,611</TD><TD STYLE="padding-bottom: 1pt; text-align: left">&#160;</TD><TD STYLE="padding-bottom: 1pt">&#160;</TD>
    <TD STYLE="border-bottom: Black 1pt solid; text-align: left">&#160;</TD><TD STYLE="border-bottom: Black 1pt solid; text-align: right">768</TD><TD STYLE="padding-bottom: 1pt; text-align: left">%</TD></TR>
  <TR STYLE="vertical-align: bottom; background-color: rgb(204,238,255)">
    <TD STYLE="text-align: left; padding-bottom: 2.5pt">Total cost of revenues</TD><TD STYLE="padding-bottom: 2.5pt">&#160;</TD>
    <TD STYLE="border-bottom: Black 2.5pt double; text-align: left">$</TD><TD STYLE="border-bottom: Black 2.5pt double; text-align: right">3,638,526</TD><TD STYLE="padding-bottom: 2.5pt; text-align: left">&#160;</TD><TD STYLE="padding-bottom: 2.5pt">&#160;</TD>
    <TD STYLE="border-bottom: Black 2.5pt double; text-align: left">$</TD><TD STYLE="border-bottom: Black 2.5pt double; text-align: right">976,048</TD><TD STYLE="padding-bottom: 2.5pt; text-align: left">&#160;</TD><TD STYLE="padding-bottom: 2.5pt">&#160;</TD>
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<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify">&#160;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0 0 12pt; text-align: justify">Cost of revenues largely comprises equipment
and labor necessary to support the implementation of new systems, support and maintenance of existing systems, software projects, and
support of the AMA with New APR.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0 0 12pt; text-align: justify">During the three months ended March 31, 2025,
the cost of revenues on technology systems decreased compared to the equivalent period in 2024. This reduction is primarily driven by
our ability in Q1 2025 to reallocate certain fixed operating and servicing costs for technology systems to support the AMA, an allocation
we could not make in the comparative period because the agreement was not yet in effect. It also reflects the ramp-down of manufacturing
ahead of field installation of our two high-speed Railcar Inspection Portals, which has continued to temporarily slow project activity
and further reduced cost of revenues while we await customer readiness for site deployment.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0 0 12pt; text-align: justify">Cost of revenues on services and consulting
significantly increased in the three months ended March 31, 2025 compared to the prior year period. This rise in costs is primarily due
to supporting the AMA with New APR, where Duos Energy oversees the deployment and operations of a fleet of mobile gas turbines and related
balance-of-plant inventory, providing management, sales, and operational support services to New APR. An additional contributing factor
to the increase in cost of revenues on services and consulting is $548,121 in amortization expense of the intangible asset related to
a nonmonetary transaction, which was not present in the corresponding period of 2024.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0 0 12pt; text-align: justify"><B>Gross Margin</B></P>

<TABLE CELLPADDING="0" CELLSPACING="0" STYLE="font: 10pt Times New Roman, Times, Serif; border-collapse: collapse; width: 100%">
  <TR STYLE="vertical-align: bottom">
    <TD>&#160;</TD><TD STYLE="font-size: 8pt; font-weight: bold; padding-bottom: 1pt">&#160;</TD>
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  <TR STYLE="vertical-align: bottom">
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<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify">&#160;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0 0 12pt; text-align: justify">Gross margin improved in the first quarter
of 2025 compared to the same period in 2024, primarily due to Duos Energy beginning execution of the AMA with New APR. This includes $904,125
in revenue recognized during the three months ended March 31, 2025, related to the Company&#8217;s 5% non-voting equity interest in the
ultimate parent of New APR, which carried no associated costs and therefore contributed at a 100% margin. These revenues and the associated
margin contribution were not present in the prior year period. Additionally, when comparing results between periods, the stage of completion
for manufacturing and installation activities within our technology business may vary and should be considered in the analysis.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0 0 12pt; text-align: justify"><B>Operating Expenses</B></P>

<TABLE CELLPADDING="0" CELLSPACING="0" STYLE="font: 10pt Times New Roman, Times, Serif; border-collapse: collapse; width: 100%">
  <TR STYLE="vertical-align: bottom">
    <TD>&#160;</TD><TD STYLE="font-size: 8pt; font-weight: bold; padding-bottom: 1pt">&#160;</TD>
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  <TR STYLE="vertical-align: bottom">
    <TD>&#160;</TD><TD STYLE="font-size: 8pt; font-weight: bold; padding-bottom: 1pt">&#160;</TD>
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  <TR STYLE="vertical-align: bottom; background-color: rgb(204,238,255)">
    <TD STYLE="text-align: left">Operating expenses:</TD><TD>&#160;</TD>
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    <TD STYLE="text-align: left">&#160;</TD><TD STYLE="text-align: right">&#160;</TD><TD STYLE="text-align: left">&#160;</TD><TD>&#160;</TD>
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    <TD STYLE="width: 1%; text-align: left">$</TD><TD STYLE="width: 14%; text-align: right">553,486</TD><TD STYLE="width: 1%; text-align: left">&#160;</TD><TD STYLE="width: 1%">&#160;</TD>
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  <TR STYLE="vertical-align: bottom; background-color: rgb(204,238,255)">
    <TD STYLE="text-align: left">Research and development</TD><TD>&#160;</TD>
    <TD STYLE="text-align: left">&#160;</TD><TD STYLE="text-align: right">424,431</TD><TD STYLE="text-align: left">&#160;</TD><TD>&#160;</TD>
    <TD STYLE="text-align: left">&#160;</TD><TD STYLE="text-align: right">382,142</TD><TD STYLE="text-align: left">&#160;</TD><TD>&#160;</TD>
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  <TR STYLE="vertical-align: bottom; background-color: White">
    <TD STYLE="text-align: left; padding-bottom: 1pt">General and administration</TD><TD STYLE="padding-bottom: 1pt">&#160;</TD>
    <TD STYLE="border-bottom: Black 1pt solid; text-align: left">&#160;</TD><TD STYLE="border-bottom: Black 1pt solid; text-align: right">2,383,881</TD><TD STYLE="padding-bottom: 1pt; text-align: left">&#160;</TD><TD STYLE="padding-bottom: 1pt">&#160;</TD>
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  <TR STYLE="vertical-align: bottom; background-color: rgb(204,238,255)">
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    <TD STYLE="border-bottom: Black 2.5pt double; text-align: left">$</TD><TD STYLE="border-bottom: Black 2.5pt double; text-align: right">3,103,287</TD><TD STYLE="padding-bottom: 2.5pt; text-align: left">&#160;</TD><TD STYLE="padding-bottom: 2.5pt">&#160;</TD>
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    <TD STYLE="border-bottom: Black 2.5pt double; text-align: left">&#160;</TD><TD STYLE="border-bottom: Black 2.5pt double; text-align: right">9</TD><TD STYLE="padding-bottom: 2.5pt; text-align: left">%</TD></TR>
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<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify">&#160;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0 0 12pt; text-align: justify"></P>

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<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0 0 12pt; text-align: justify">During the three months ended March 31, 2025,
the Company experienced a modest increase in overall operating expenses compared to the same period in 2024. Sales and marketing costs
declined as resources were allocated to costs of service and consulting revenues in support of the AMA with New APR. Conversely, research
and development expenses rose 11%, reflecting new engineering hires dedicated to supporting the AMA. General and administrative costs
increased 24%, largely due to non-cash stock-based compensation charged for restricted stock granted to the executive team on January
1, 2025, under new employment agreements with a three-year cliff vesting schedule. Additionally, there were general and administrative
costs that were allocated to cost of service and consulting revenues in support of the AMA with New APR. Overall, the Company continues
to focus on stabilizing operating expenses while meeting the increased needs of our customers.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0 0 12pt; text-align: justify"><B>Loss from Operations</B></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0 0 12pt; text-align: justify">The loss from operations for the three months
ended March 31, 2025 and 2024 was $1,789,628 and $2,761,046, respectively. The decrease in loss from operations was primarily the result
of increased revenues during the quarter, driven by revenue generated by Duos Energy through the AMA with New APR.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0 0 12pt; text-align: justify"><B>Other Income/Expense</B></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0 0 12pt; text-align: justify">Other income for the three months ended March
31, 2025 was $32,542 and $9,182 for the comparative period in 2024. Interest expense for the three months ended March 31, 2025 was $322,577
and $445 for the comparative period in 2024. The increase in interest expense is primarily due to the amortization of the debt discount
on the $2.2 million note and the associated monthly interest expense in 2025; this note had not been entered into in the comparative period.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0 0 12pt; text-align: justify"><B>Net Loss</B></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0 0 12pt; text-align: justify">The net loss for the three months ended March
31, 2025 and 2024 was $2,079,663 and $2,752,309, respectively. The 24% decrease in net loss was mostly attributed to the increase in revenues
generated by Duos Energy through the AMA with New APR as described above. Net loss per common share was $0.18 and $0.38 for the three
months ended March 31, 2025 and 2024, respectively.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0 0 12pt; text-align: justify"><B>Liquidity and Capital Resources</B></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0 0 12pt; text-align: justify">As of March 31, 2025, the Company has a working
capital deficit of $6,502,554 and the Company had a net loss of $2,079,663 for the three months ended March 31, 2025.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0 0 12pt; text-align: justify"><B>Cash Flows</B></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0 0 12pt; text-align: justify">The following table sets forth the major components
of our statements of cash flows data for the periods presented:</P>

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    <TD STYLE="text-align: center">&#160;</TD><TD STYLE="font-size: 8pt; padding-bottom: 1pt">&#160;</TD>
    <TD COLSPAN="6" STYLE="border-bottom: Black 1pt solid; font-size: 8pt; text-align: center"><P STYLE="font: 8pt Times New Roman, Times, Serif; margin: 0; text-align: center"><B>For the Three Months Ended</B></P> <P STYLE="font: 8pt Times New Roman, Times, Serif; margin: 0; text-align: center"><B>March 31,</B></P></TD><TD STYLE="padding-bottom: 1pt; font-size: 8pt">&#160;</TD></TR>
  <TR STYLE="vertical-align: bottom">
    <TD STYLE="text-align: center">&#160;</TD><TD STYLE="font-size: 8pt; font-weight: bold; padding-bottom: 1pt">&#160;</TD>
    <TD COLSPAN="2" STYLE="border-bottom: Black 1pt solid; font-size: 8pt; font-weight: bold; text-align: center">2025</TD><TD STYLE="padding-bottom: 1pt; font-size: 8pt; font-weight: bold">&#160;</TD><TD STYLE="font-size: 8pt; font-weight: bold; padding-bottom: 1pt">&#160;</TD>
    <TD COLSPAN="2" STYLE="border-bottom: Black 1pt solid; font-size: 8pt; font-weight: bold; text-align: center">2024</TD><TD STYLE="padding-bottom: 1pt; font-size: 8pt; font-weight: bold">&#160;</TD></TR>
  <TR STYLE="vertical-align: bottom; background-color: rgb(204,238,255)">
    <TD STYLE="width: 66%; text-align: left">Net cash used in operating activities</TD><TD STYLE="width: 1%">&#160;</TD>
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  <TR STYLE="vertical-align: bottom; background-color: White">
    <TD STYLE="text-align: left">Net cash used in investing activities</TD><TD>&#160;</TD>
    <TD STYLE="text-align: left">&#160;</TD><TD STYLE="text-align: right">(581,623</TD><TD STYLE="text-align: left">)</TD><TD>&#160;</TD>
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  <TR STYLE="vertical-align: bottom; background-color: rgb(204,238,255)">
    <TD STYLE="text-align: left; padding-bottom: 1pt">Net cash provided by financing activities</TD><TD STYLE="padding-bottom: 1pt">&#160;</TD>
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    <TD STYLE="text-align: left; padding-bottom: 2.5pt">Net increase (decrease) in cash</TD><TD STYLE="padding-bottom: 2.5pt">&#160;</TD>
    <TD STYLE="border-bottom: Black 2.5pt double; text-align: left">$</TD><TD STYLE="border-bottom: Black 2.5pt double; text-align: right">(2,467,015</TD><TD STYLE="padding-bottom: 2.5pt; text-align: left">)</TD><TD STYLE="padding-bottom: 2.5pt">&#160;</TD>
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<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify">&#160;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0 0 12pt; text-align: justify">Net cash used in operating activities for the
three months ended March 31, 2025 and 2024 was $4,673,425 and $2,032,719, respectively. The increase in net cash used in 2025 was driven
primarily by elevated non-cash add-backs for depreciation, amortization, and stock-based compensation, offset by a significant build-up
in accounts receivable as project and service billings outpaced collections coupled with a draw-down of contract liabilities as we execute
on the AMA.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0 0 12pt; text-align: justify">Net cash used in investing activities was $581,623
and $9,810 for the three months ended March 31, 2025 and 2024, respectively. The increase in 2025 reflects continued investment in capitalized
construction-in-progress costs associated with the six edge data centers currently owned by the Company that are being deployed in 2025.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0 0 12pt; text-align: justify">Net cash provided by financing activities for
the three months ended March 31, 2025 and 2024 was $2,788,033 and $2,578,279, respectively. Cash flows provided by financing activities
during the first three months of 2025 were primarily attributable to gross proceeds of $3,954,940 from our At-The-Market (ATM) offering
program, offset partially by $1,000,000 in repayments toward the principal balance of the secured promissory notes entered into with 21
April Fund LP and 21 April Fund Ltd. Cash flows from financing activities during the first three months of 2024 were primarily attributable
to gross proceeds of approximately $2,745,002 from issuances of Series D and Series E Convertible Preferred Stock.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0 0 12pt; text-align: justify"></P>

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<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0 0 12pt; text-align: justify">On a long-term basis, our liquidity is dependent
on the successful continuation of the revenue diversification strategy into the Energy and Edge Data Center subsidiaries, and expansion
of operations and receipt of revenues across all operating segments. We believe our current capital and revenues are sufficient to fund
such expansion and our operations over the next twelve months, although we are dependent on timely payments from our customers for projects
and work in process. However, we expect such timely payments to continue. Material cash requirements will be satisfied within the normal
course of business including substantial upfront payments from our customers prior to starting projects. The Company may elect to purchase
materials and supplies in advance of contract award but where there is a high probability of that award.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0 0 12pt; text-align: justify">Demand for our products and services will be
dependent on, among other things, market acceptance of our products and services, the technology market in general, and general economic
conditions, which are cyclical in nature. Because a major portion of our activities is the receipt of revenues from the sales of our products
and services, our business operations may continue to be challenged by our competitors and prolonged recession periods.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0 0 12pt; text-align: justify"><B>Liquidity</B></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0 0 12pt; text-align: justify">Under Accounting Codification ASC 205, Presentation
of Financial Statements&#8212;Going Concern (Subtopic 205-40) (&#8220;ASC 205-40&#8221;), the Company has the responsibility to evaluate
whether conditions and/or events raise substantial doubt about its ability to meet its future financial obligations as they become due
within one year after the date that the financial statements are issued. As required by ASC 205-40, this evaluation shall initially not
take into consideration the potential mitigating effects of plans that have not been fully implemented as of the date the financial statements
are issued. Management has assessed the Company&#8217;s ability to continue as a going concern in accordance with the requirement of ASC
205-40.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0 0 12pt; text-align: justify">As reflected in the accompanying consolidated
financial statements, the Company had a net loss of $2,079,663 for the three months ended March 31, 2025. During the same period, cash
used in operating activities was $4,673,425. The working capital deficit and accumulated deficit as of March 31, 2025, were $6,502,554
and $76,447,672, respectively.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0 0 12pt; text-align: justify">As previously noted, the Company was successful
during 2023 in raising gross proceeds of over $11,500,000 from the sale of Series E and F Preferred Stock. Additionally, in the first
and second quarters of 2024, the Company raised gross proceeds of $2,995,002 from the issuance of a combination of Series D and E Convertible
Preferred Stock (See Note 8). The Company successfully raised approximately $3,544,689 in gross proceeds through its At-The-Market (ATM)
offering program in 2024 and secured an additional $3,954,940 in gross proceeds during the first two months of 2025. Additionally, beginning
in the second quarter of 2025, the Company again has access to its S-3 &#8220;shelf registration&#8221; statement allowing the Company
to sell additional securities. At the time of this document, the Company estimates that it will have available capacity on its shelf registration
which it can utilize to bolster working capital and growth of the business in the event that revenues from its recently executed AMA with
New APR do not provide sufficient cash flow to support operations. Although additional investment is not assured, the Company is comfortable
that it would be able to raise sufficient capital to support expanded operations based on an anticipated increase in business activity.
In the long run, the continuation of the Company as a going concern is dependent upon the ability of the Company to continue executing
its business plan, generate enough revenue, and attain consistently profitable operations. We have analyzed our cash flow under &#8220;stress
test&#8221; conditions and have determined that we have sufficient liquid assets on hand or available via the capital markets to maintain
operations for at least twelve months from the issuance date of this report.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0 0 12pt; text-align: justify">In addition, management has taken and continues
to take actions including, but not limited to, elimination of certain costs that do not contribute to short term revenue, and re-aligning
both management and staffing with a focus on improving certain skill sets necessary to build growth and profitability and focusing product
strategy on opportunities that are likely to bear results in the relatively short term. The Company believes that, with the combination
of commercial sales success, coupled with an S-3 shelf registration availability that is effective April 15, 2025, it will have sufficient
working capital to meet its obligations over the following twelve months. In the last twelve months the Company has seen growth in its
contracted backlog as well as significant, positive signs from new commercial projects that indicate improvements in future revenues.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0 0 12pt; text-align: justify">Management believes that, at this time, the
conditions in our traditional market space with ongoing contract delays, the consequent need to procure certain materials in advance of
a binding contract and the additional time needed to execute on new contracts previously reported could put a strain on our cash reserves.
However, the anticipated steady cashflow from the AMA and the ability to raise capital via its shelf registration indicate there is no
substantial doubt for the Company to continue as a going concern for a period of twelve months. We expect to continue executing the plan
to grow our business and achieve profitability as previously discussed. The Company may selectively look at opportunities for fundraising
in the future including potential debt offerings to support asset acquisition. Management has extensively evaluated our requirements for
the next twelve months and has determined that the Company currently has sufficient cash and access to capital to operate for at least
that period.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0 0 12pt; text-align: justify"></P>

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<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0 0 12pt; text-align: justify">While no assurance can be provided, management
believes that these actions provide the opportunity for the Company to continue as a going concern and to grow its business and achieve
profitability with access to additional capital funding. Ultimately the continuation of the Company as a going concern is dependent upon
the ability of the Company to continue executing the plan described above which was put in place in late 2024 and will continue in 2025
and beyond. These consolidated financial statements do not include any adjustments related to the recoverability and classification of
recorded asset amounts and classification of liabilities that might be necessary should the Company be unable to continue as a going concern.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0 0 12pt; text-align: justify"><B>Critical Accounting Estimates </B></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0 0 12pt; text-align: justify"><B>Revenue Recognition</B></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0 0 12pt; text-align: justify">The Company follows Accounting Standards Codification
606, Revenue from Contracts with Customers (&#8220;ASC 606&#8221;), that affects the timing of when certain types of revenues will be
recognized. The basic principles in ASC 606 include the following: a contract with a customer creates distinct contract assets and performance
obligations, satisfaction of a performance obligation creates revenue, and a performance obligation is satisfied upon transfer of control
to a good or service to a customer.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0 0 12pt; text-align: justify">Revenue is recognized by evaluating our revenue
contracts with customers based on the five-step model under ASC 606:</P>

<TABLE CELLSPACING="0" CELLPADDING="0" STYLE="font: 10pt Times New Roman, Times, Serif; width: 100%; border-collapse: collapse">
  <TR STYLE="vertical-align: top">
    <TD STYLE="width: 24px">&#160;</TD>
    <TD STYLE="width: 24px">1.</TD>
    <TD STYLE="text-align: justify">Identify the contract with the customer;</TD></TR>
  <TR STYLE="vertical-align: top">
    <TD>&#160;</TD>
    <TD>2.</TD>
    <TD STYLE="text-align: justify">Identify the performance obligations in the contract;</TD></TR>
  <TR STYLE="vertical-align: top">
    <TD>&#160;</TD>
    <TD>3.</TD>
    <TD STYLE="text-align: justify">Determine the transaction price;</TD></TR>
  <TR STYLE="vertical-align: top">
    <TD>&#160;</TD>
    <TD>4.</TD>
    <TD STYLE="text-align: justify">Allocate the transaction price to separate performance obligations; and</TD></TR>
  <TR STYLE="vertical-align: top">
    <TD>&#160;</TD>
    <TD>5.</TD>
    <TD STYLE="text-align: justify">Recognize revenue when (or as) each performance obligation is satisfied.</TD></TR>
  </TABLE>
<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0">&#160;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0 0 12pt; text-align: justify">The Company generates revenue from four sources:&#9;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-indent: 0.25in">1. Technology Systems</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-indent: 0.25in">2. AI Technologies</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-indent: 0.25in">3. Technical Support including related party revenues
from the AMA which began in January 2025</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-indent: 0.25in">4. Consulting Services including related party revenues
from the AMA which began in January 2025</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0">&#160;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0 0 12pt; text-align: justify"><B>Equity Method Investments</B></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0 0 12pt; text-align: justify">If an investment qualifies for the equity method
of accounting, the Company&#8217;s investment is recorded initially at cost and subsequently adjusted for equity in net income (loss)
and cash contributions and distributions. The net income or loss of an unconsolidated equity method investment is allocated to its investors
in accordance with the provisions of the operating agreement of the entity. The allocation provisions in these agreements may differ from
the ownership interest held by each investor. Differences, if any, between the carrying amount of our investment in the respective equity
method investee and the Company&#8217;s share of the underlying equity of such equity method investee are amortized over the respective
lives of the underlying assets as applicable. These items are reported as a single line item in the consolidated statements of operations
as income or loss from investments in unconsolidated equity method investees. Investments are reviewed for changes in circumstance or
the occurrence of events that suggest an other-than-temporary event where our investment may not be recoverable.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0 0 12pt; text-align: justify">On December 31, 2024, the Company entered into
the AMA with New APR, an entity formed by affiliates of Fortress Investment Group (&#8220;FIG&#8221;).&#160;Under the AMA, Duos Energy
manages the deployment and operations of a fleet of mobile gas turbines and balance-of-plant inventory, providing management, sales and
operations functions to New APR in connection with the assets. In exchange for services to be performed under the AMA, the Company received
an initial cash payment and common units in Sawgrass Parent. While the Company has board representation in Sawgrass Parent, its common
units are non-voting and the Company does not control the board of directors of Sawgrass Parent.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0 0 12pt; text-align: justify">Where the Company has an interest in a Variable
Interest Entity (&#8220;VIE&#8221;) it will consolidate any VIE in which the Company has a controlling financial interest and is deemed
to be the primary beneficiary. A controlling financial interest has both of the following characteristics: (1) the power to direct the
activities of the VIE that most significantly impact its economic performance; and (2) the obligation to absorb losses of the VIE that
could potentially be significant to the VIE or the right to receive benefits from the VIE that could be significant to the VIE. If both
of the characteristics are met, the Company is considered to be the primary beneficiary and therefore will consolidate that VIE into the
consolidated financial statements.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0 0 12pt; text-align: justify"></P>

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<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0 0 12pt; text-align: justify">Investments in partnerships, unincorporated
joint ventures and LLCs that maintain specific ownership accounts for each investor are excluded from the scope of ASC 323-10. However,
ASC 323-30 provides guidance on applying the criteria for equity method accounting to investments in partnerships, unincorporated joint
ventures and LLCs. When an investor in a partnership, unincorporated joint venture or LLC has the ability to exercise significant influence
over that investment, it should apply the equity method (ASC 323-10) by analogy (ASC 323-30-25-1).</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0 0 12pt; text-align: justify">Sawgrass Parent is deemed to be a VIE and the
Company holds a 5% interest in Sawgrass Parent and an interest in the subsidiary New APR through the AMA, both of which are considered
variable interests. However, the Company does not represent the primary beneficiary as it does not possess the ability to direct the activities
that most significantly impact the economic performance of Sawgrass Parent. Accordingly, the Company does not consolidate Sawgrass Parent.
Due to the Company&#8217;s interest in Sawgrass Parent, it was determined that the Company has significant influence over Sawgrass Parent.
Therefore, the Company accounts for its investment in Sawgrass Parent as an Equity Method Investment.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0 0 12pt; text-align: justify">The Company also concluded that the arrangement
with Sawgrass Parent is within the scope of ASC 606, Revenue from contracts with customers, and the common units issued to the Company
by Sawgrass Parent represented non-cash consideration. The initial carrying value as of December 31, 2024 of $7.2 million was measured
equal to the fair value of the common units received for future services to be performed under the AMA. The Company recorded $7.2 million
of deferred revenue for services to be performed under the AMA. During the year ended December 31, 2024, the Company did not recognize
any revenue associated with the AMA. The Company initially recorded the equity method investment in Sawgrass Parent of $7.2 million, equal
to the fair value of the common units as of December 31, 2024.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0 0 12pt; text-align: justify">Due to the unavailability of Q1-2025 financials
from Sawgrass Parent, the Company has applied a one-quarter lag (in accordance with the appropriate Accounting Standards Codification)
in reporting and recording the value of its 5% minority investment. The Company has determined that its 5% interest shall be recorded
using the Equity Investment Method whereby Net Profit and Net Loss for any Fiscal Year shall be allocated among the members in such a
manner that, as of the end of such fiscal year, the Capital Account Balance of each Member, as increased by the Member&#8217;s share of
&#8220;minimum gain&#8221; and &#8220;partner minimum gain&#8221; (as such terms are used in Treasury Regulations Section 1.704-2), shall,
to the extent possible, be equal to the amount which would have been distributed to such Member pursuant to a Hypothetical Liquidation
as of the end of the last day of such fiscal year. This approach is consistent with the equity method of accounting as outlined in ASC
323-10-35-6, which will be consistent for each quarter. Consequently, Duos will incorporate the financial results of the Sawgrass Parent
into its Q2-2025 SEC filing which will be applied using a management estimate, ensuring that the equity method is consistently applied.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0 0 12pt; text-align: justify">Management believes that the use of estimates
and assumptions in applying the equity method is reasonable.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0 0 12pt; text-align: justify">The Company assesses its equity method investment
for impairment whenever events or changes in circumstances indicate that the carrying amount of the investment may not be recoverable.
No impairment losses were recognized during the year ended December 31, 2024 or the three months ended March 31, 2025.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0 0 12pt; text-align: justify"><B>Impairment of Intangible Assets</B></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0 0 12pt; text-align: justify">In May 2024, the Company recorded an intangible
asset with a fair value of $11,161,428. This asset represents non-monetary consideration received under a 5-year customer contract, in
which the Company will provide maintenance services to the customer. The intangible asset represents Digital Image data rights in the
form of a license agreement received by the Company from the customer.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0 0 12pt; text-align: justify">The fair value of the asset was determined
on the contract inception date based on the standalone selling price of the service and goods to be provided to the customer under the
5-year contract since the Company could not reasonably estimate the fair value of the data rights received. The non-monetary transaction
was accounted for in accordance with Accounting Standards Codification (ASC) 606-10-32-21 through ASC 606-10-32-24.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0 0 12pt; text-align: justify">On the contract inception date, the Company
also recorded an immediate amortization of the intangible asset of $199,008 related to the pre-contract costs incurred relating to a pilot
program for this contract and recorded deferred revenue of $11,161,428 as contract liabilities with a current and non-current component,
and then immediately recognized $199,008 of this deferred revenue relating to the completed pilot program. The remaining deferred revenue
is being recognized over the 5-year term.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0 0 12pt; text-align: justify">In accordance with ASC 350-30-35-1, the amortization
for the intangible asset is based on its useful life and the useful life of an intangible asset is the period over which it is expected
to contribute directly or indirectly to the future cash flows of that entity. Accordingly, amortization of the intangible asset is recognized
over the life of the contract of five years.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0 0 12pt; text-align: justify"></P>

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<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0 0 12pt; text-align: justify">In accordance with ASC 350-30-35-14, an intangible
asset that is subject to amortization shall be reviewed for impairment if the carrying amount of the asset is not recoverable and exceeds
its fair value.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0 0 12pt; text-align: justify">There is no indication of impairment at March
31, 2025.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0 0 12pt; text-align: justify"><B>Stock Based Compensation</B></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0 0 12pt; text-align: justify">The Company accounts for employee and non-employee
stock-based compensation in accordance with ASC 718-10, &#8220;<I>Share-Based Payment</I>,&#8221; which requires the measurement and recognition
of compensation expense for all share-based payment awards made to employees and directors including stock options, restricted stock units,
and employee stock purchases based on estimated fair values. The stock-based compensation carries a graded vesting feature subject to
the condition of time of employment service with awarded stock-based compensation tranches vesting evenly upon the anniversary date of
the award.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0 0 12pt; text-align: justify">The Company estimates the fair value of stock
options granted using the Black-Scholes option-pricing formula. In accordance with ASC 718-10-35-8, the Company elected to recognize the
fair value of the stock award using the graded vesting method as time of employment service is the criteria for vesting. The Company&#8217;s
determination of fair value using an option-pricing model is affected by the stock price as well as assumptions regarding a number of
highly subjective variables.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0 0 12pt; text-align: justify">For restricted stock awards, fair value is
measured at the closing market price of the Company&#8217;s common stock on the grant date. That value is then recognized over the requisite
vesting period.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0 0 12pt; text-align: justify">The Company estimates volatility based upon
the historical stock price of the Company and estimates the expected term for stock options using the simplified method for employees
and directors and the contractual term for non-employees. The risk-free rate is determined based upon the prevailing rate of United States
Treasury securities with similar maturities.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0 0 12pt; text-align: justify">The following discussion should be read in
conjunction with the audited consolidated financial statements included in this prospectus.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0 0 12pt; text-align: justify"><B>For the year ended</B>&#160;<B>December
31, 2024</B>&#160;<B>compared to December 31, 2023</B></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0 0 12pt; text-align: justify">The following table sets forth a summary of
our Consolidated Statements of Operations that is used in the following discussions of our results of operations:</P>

<TABLE CELLPADDING="0" CELLSPACING="0" STYLE="font: 10pt Times New Roman, Times, Serif; border-collapse: collapse; width: 100%">
  <TR STYLE="vertical-align: bottom">
    <TD STYLE="text-align: justify"><FONT STYLE="font-size: 8pt">&#160;</FONT></TD><TD STYLE="font-weight: bold; padding-bottom: 1pt"><FONT STYLE="font-size: 8pt">&#160;</FONT></TD>
    <TD COLSPAN="6" STYLE="border-bottom: Black 1pt solid; font-weight: bold; text-align: center"><FONT STYLE="font-size: 8pt">For the
    Years Ended<BR> December 31,</FONT></TD><TD STYLE="padding-bottom: 1pt; font-weight: bold"><FONT STYLE="font-size: 8pt">&#160;</FONT></TD></TR>
  <TR STYLE="vertical-align: bottom">
    <TD><FONT STYLE="font-size: 8pt">&#160;</FONT></TD><TD STYLE="font-weight: bold; padding-bottom: 1pt"><FONT STYLE="font-size: 8pt">&#160;</FONT></TD>
    <TD COLSPAN="2" STYLE="border-bottom: Black 1pt solid; font-weight: bold; text-align: center"><FONT STYLE="font-size: 8pt">2024</FONT></TD><TD STYLE="padding-bottom: 1pt; font-weight: bold"><FONT STYLE="font-size: 8pt">&#160;</FONT></TD><TD STYLE="font-weight: bold; padding-bottom: 1pt"><FONT STYLE="font-size: 8pt">&#160;</FONT></TD>
    <TD COLSPAN="2" STYLE="border-bottom: Black 1pt solid; font-weight: bold; text-align: center"><FONT STYLE="font-size: 8pt">2023</FONT></TD><TD STYLE="padding-bottom: 1pt; font-weight: bold"><FONT STYLE="font-size: 8pt">&#160;</FONT></TD></TR>
  <TR STYLE="vertical-align: bottom">
    <TD>&#160;</TD><TD>&#160;</TD>
    <TD COLSPAN="2" STYLE="text-align: justify">&#160;</TD><TD>&#160;</TD><TD>&#160;</TD>
    <TD COLSPAN="2" STYLE="text-align: justify">&#160;</TD><TD>&#160;</TD></TR>
  <TR STYLE="vertical-align: bottom; background-color: rgb(204,238,255)">
    <TD STYLE="width: 66%; text-align: justify">Revenues</TD><TD STYLE="width: 1%">&#160;</TD>
    <TD STYLE="width: 1%; text-align: left">$</TD><TD STYLE="width: 14%; text-align: right">7,280,885</TD><TD STYLE="width: 1%; text-align: left">&#160;</TD><TD STYLE="width: 1%">&#160;</TD>
    <TD STYLE="width: 1%; text-align: left">$</TD><TD STYLE="width: 14%; text-align: right">7,471,198</TD><TD STYLE="width: 1%; text-align: left">&#160;</TD></TR>
  <TR STYLE="vertical-align: bottom; background-color: White">
    <TD STYLE="text-align: justify; padding-bottom: 1pt">Cost of revenues</TD><TD STYLE="padding-bottom: 1pt">&#160;</TD>
    <TD STYLE="border-bottom: Black 1pt solid; text-align: left">&#160;</TD><TD STYLE="border-bottom: Black 1pt solid; text-align: right">6,811,670</TD><TD STYLE="padding-bottom: 1pt; text-align: left">&#160;</TD><TD STYLE="padding-bottom: 1pt">&#160;</TD>
    <TD STYLE="border-bottom: Black 1pt solid; text-align: left">&#160;</TD><TD STYLE="border-bottom: Black 1pt solid; text-align: right">6,162,317</TD><TD STYLE="padding-bottom: 1pt; text-align: left">&#160;</TD></TR>
  <TR STYLE="vertical-align: bottom; background-color: rgb(204,238,255)">
    <TD STYLE="text-align: justify">Gross margin</TD><TD>&#160;</TD>
    <TD STYLE="text-align: left">&#160;</TD><TD STYLE="text-align: right">469,215</TD><TD STYLE="text-align: left">&#160;</TD><TD>&#160;</TD>
    <TD STYLE="text-align: left">&#160;</TD><TD STYLE="text-align: right">1,308,881</TD><TD STYLE="text-align: left">&#160;</TD></TR>
  <TR STYLE="vertical-align: bottom; background-color: White">
    <TD STYLE="text-align: justify; padding-bottom: 1pt">Operating expenses</TD><TD STYLE="padding-bottom: 1pt">&#160;</TD>
    <TD STYLE="border-bottom: Black 1pt solid; text-align: left">&#160;</TD><TD STYLE="border-bottom: Black 1pt solid; text-align: right">11,452,741</TD><TD STYLE="padding-bottom: 1pt; text-align: left">&#160;</TD><TD STYLE="padding-bottom: 1pt">&#160;</TD>
    <TD STYLE="border-bottom: Black 1pt solid; text-align: left">&#160;</TD><TD STYLE="border-bottom: Black 1pt solid; text-align: right">12,755,447</TD><TD STYLE="padding-bottom: 1pt; text-align: left">&#160;</TD></TR>
  <TR STYLE="vertical-align: bottom; background-color: rgb(204,238,255)">
    <TD STYLE="text-align: justify">Loss from operations</TD><TD>&#160;</TD>
    <TD STYLE="text-align: left">&#160;</TD><TD STYLE="text-align: right">(10,983,526</TD><TD STYLE="text-align: left">)</TD><TD>&#160;</TD>
    <TD STYLE="text-align: left">&#160;</TD><TD STYLE="text-align: right">(11,446,566</TD><TD STYLE="text-align: left">)</TD></TR>
  <TR STYLE="vertical-align: bottom; background-color: White">
    <TD STYLE="text-align: justify; padding-bottom: 1pt">Other income</TD><TD STYLE="padding-bottom: 1pt">&#160;</TD>
    <TD STYLE="border-bottom: Black 1pt solid; text-align: left">&#160;</TD><TD STYLE="border-bottom: Black 1pt solid; text-align: right">219,069</TD><TD STYLE="padding-bottom: 1pt; text-align: left">&#160;</TD><TD STYLE="padding-bottom: 1pt">&#160;</TD>
    <TD STYLE="border-bottom: Black 1pt solid; text-align: left">&#160;</TD><TD STYLE="border-bottom: Black 1pt solid; text-align: right">204,848</TD><TD STYLE="padding-bottom: 1pt; text-align: left">&#160;</TD></TR>
  <TR STYLE="vertical-align: bottom; background-color: rgb(204,238,255)">
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<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify">&#160;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0 0 12pt; text-align: justify"><B>Revenues</B></P>

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  <TR STYLE="vertical-align: bottom">
    <TD STYLE="text-align: justify"><FONT STYLE="font-size: 8pt">&#160;</FONT></TD><TD STYLE="font-weight: bold; padding-bottom: 1pt"><FONT STYLE="font-size: 8pt">&#160;</FONT></TD>
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    <TD STYLE="text-align: left">&#160;</TD><TD STYLE="text-align: right">&#160;</TD><TD STYLE="text-align: left">&#160;</TD></TR>
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<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify; color: white">&#160;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0 0 12pt; text-align: justify"></P>

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<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0 0 12pt; text-align: justify">For the full year 2024, there was a 3% decrease
in overall revenues compared to 2023. The decrease in overall revenues is primarily attributed to delays outside of the Company&#8217;s
control with the deployment of our two high-speed Railcar Inspection Portals, which are recorded in the technology systems portion of
our business. Although these systems were largely ready for deployment in 2023, customer delays at the deployment site prevented installation
even though these two high-speed Railcar Inspection Portals were deep into their production and manufacturing phases, which did not allow
us to record the next phase of revenue recognition. The Company was able to contract an equitable adjustment related to our two high-speed
Railcar Inspection Portals project in 2024. This adjustment added $1.4 million to the contract&#8217;s total value, with a substantial
portion recognized in 2024. We believe that the customer is approaching the completion of the local site preparation and is preparing
for field installation in 2025. Additionally, the Company continues to see opportunities for expansion of its programs with existing customers.
In spite of the timing delays that continue to impact results, management remains confident in the long-term potential of the RIP product.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0 0 12pt; text-align: justify">For the full year 2024, there was a 31% increase
in services and consulting revenues compared to 2023. The increase in the services portion of our revenues stems from the addition of
new AI and subscription customers that were not present in for the full year in 2023, as well as increases in service contract revenue
due to higher service contract prices. We also generated $921,562 in services and consulting revenue from power consulting work, which
was not present in 2023. The Company expects growth with new revenue from existing customers, including services revenue as the result
of new maintenance contracts being established on installations coming on-line during 2025. The Company anticipates revenue growth from
new and existing customers related to the subscription offering starting in 2025, giving access to RIP data and images to a much broader
target market including Class 1 railroads, railcar owners and lessors, and short-line railroads. The Company also anticipates renewals
of existing and backlog contracts and a shift to the next generation of technology systems which are currently being manufactured and
expect to be completed during early 2025. The Company also expects new revenue growth in 2025 related to its 5% non-voting ownership equity
interest in Sawgrass Parent, including revenue attributable to the AMA.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0 0 12pt; text-align: justify">While customer-driven delays in the installation
of our high-speed transit-focused Railcar Inspection Portals have impacted revenue growth timing year-over-year, the Company's capital
structure remains resilient, allowing us to pursue large projects despite unexpected delays. It should be noted that the Company recently
increased its working capital to account for an increase in pre-contract procurement activities to avoid a slowdown in revenues caused
by delays in receiving certain components as had been the case in previous years.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0 0 12pt; text-align: justify">Overall, in 2024, the Company made significant
strides in advancing the procurement and manufacturing of its transit-focused RIPs. The Company also successfully grew its service contracts
and secured new agreements in AI, enhancing its AI portfolio. Additionally, the Company launched the Duos Edge AI and Duos Energy business
lines, which are expected to start contributing to the Company's success in 2025. Recurring revenue from services and consulting continues
to grow and is expected to contribute significantly to future revenue streams, bolstered by new long-term contracts with existing customers
expected to commence in the coming months.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0 0 12pt; text-align: justify"><B>Cost of Revenues</B></P>

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  <TR STYLE="vertical-align: bottom">
    <TD STYLE="text-align: justify"><FONT STYLE="font-size: 8pt">&#160;</FONT></TD><TD STYLE="font-weight: bold; padding-bottom: 1pt"><FONT STYLE="font-size: 8pt">&#160;</FONT></TD>
    <TD COLSPAN="10" STYLE="border-bottom: Black 1pt solid; font-weight: bold; text-align: center"><FONT STYLE="font-size: 8pt">For the
    Years Ended<BR> December 31,</FONT></TD><TD STYLE="padding-bottom: 1pt; font-weight: bold"><FONT STYLE="font-size: 8pt">&#160;</FONT></TD></TR>
  <TR STYLE="vertical-align: bottom">
    <TD><FONT STYLE="font-size: 8pt">&#160;</FONT></TD><TD STYLE="font-weight: bold; padding-bottom: 1pt"><FONT STYLE="font-size: 8pt">&#160;</FONT></TD>
    <TD COLSPAN="2" STYLE="border-bottom: Black 1pt solid; font-weight: bold; text-align: center"><FONT STYLE="font-size: 8pt">2024</FONT></TD><TD STYLE="padding-bottom: 1pt; font-weight: bold"><FONT STYLE="font-size: 8pt">&#160;</FONT></TD><TD STYLE="font-weight: bold; padding-bottom: 1pt"><FONT STYLE="font-size: 8pt">&#160;</FONT></TD>
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    <TD COLSPAN="2" STYLE="border-bottom: Black 1pt solid; font-weight: bold; text-align: center"><FONT STYLE="font-size: 8pt">% Change</FONT></TD><TD STYLE="padding-bottom: 1pt; font-weight: bold"><FONT STYLE="font-size: 8pt">&#160;</FONT></TD></TR>
  <TR STYLE="vertical-align: bottom">
    <TD STYLE="text-align: justify">Cost of revenues:</TD><TD>&#160;</TD>
    <TD COLSPAN="2" STYLE="text-align: right">&#160;</TD><TD>&#160;</TD><TD>&#160;</TD>
    <TD COLSPAN="2" STYLE="text-align: right">&#160;</TD><TD>&#160;</TD><TD>&#160;</TD>
    <TD COLSPAN="2" STYLE="text-align: right">&#160;</TD><TD>&#160;</TD></TR>
  <TR STYLE="vertical-align: bottom; background-color: rgb(204,238,255)">
    <TD STYLE="width: 49%; text-align: left">Technology systems</TD><TD STYLE="width: 1%">&#160;</TD>
    <TD STYLE="width: 1%; text-align: left">$</TD><TD STYLE="width: 14%; text-align: right">2,818,078</TD><TD STYLE="width: 1%; text-align: left">&#160;</TD><TD STYLE="width: 1%">&#160;</TD>
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    <TD STYLE="border-bottom: Black 1pt solid; text-align: left">&#160;</TD><TD STYLE="border-bottom: Black 1pt solid; text-align: right">1,810,070</TD><TD STYLE="padding-bottom: 1pt; text-align: left">&#160;</TD><TD STYLE="padding-bottom: 1pt">&#160;</TD>
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  <TR STYLE="vertical-align: bottom; background-color: rgb(204,238,255)">
    <TD STYLE="text-align: justify; padding-bottom: 2.5pt">Total cost of revenues</TD><TD STYLE="padding-bottom: 2.5pt">&#160;</TD>
    <TD STYLE="border-bottom: Black 2.5pt double; text-align: left">$</TD><TD STYLE="border-bottom: Black 2.5pt double; text-align: right">6,811,670</TD><TD STYLE="padding-bottom: 2.5pt; text-align: left">&#160;</TD><TD STYLE="padding-bottom: 2.5pt">&#160;</TD>
    <TD STYLE="border-bottom: Black 2.5pt double; text-align: left">$</TD><TD STYLE="border-bottom: Black 2.5pt double; text-align: right">6,162,317</TD><TD STYLE="padding-bottom: 2.5pt; text-align: left">&#160;</TD><TD STYLE="padding-bottom: 2.5pt">&#160;</TD>
    <TD STYLE="border-bottom: Black 2.5pt double; text-align: left">&#160;</TD><TD STYLE="border-bottom: Black 2.5pt double; text-align: right">11</TD><TD STYLE="padding-bottom: 2.5pt; text-align: left">%</TD></TR>
  </TABLE>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify">&#160;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0 0 12pt; text-align: justify">Cost of revenues primarily includes inventory,
shipping, certain fixed labor and overhead and allocated depreciation and amortization as applicable necessary to support the implementation
of new systems and support and maintenance of existing systems. Cost of revenues on technology systems decreased during the period compared
to the equivalent period in 2023 in-line with the decline in project revenues. The decline in costs generally follows the same year-over-year
trend as project revenues due to timing differences in major project work. This is primarily related to the procurement and manufacturing
of transit-focused RIPs. As we near the end of the manufacturing cycle and begin preparations for field installation in 2025, the cost
of revenues for technology systems decreases accordingly. In contrast, during the same period in 2023, the Company was still progressing
through the advanced stages of procurement and manufacturing for these RIPs. Completion is expected in late 2025 or early 2026, depending
on customer-related constraints for track access.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0 0 12pt; text-align: justify">These internal costs of revenue noted above
are being recognized against project and support revenues with a similar reduction in costs previously recognized for research and development,
engineering and internal support. The project costs reflect subsequent allocations of fixed costs related to the staff and departmental
costs associated with procurement, manufacturing and installation of RIP installations. As such, in 2024, this fixed component contributed
to a negative margin on the technology systems revenues. In concert with this, there is a continued focus on construction costs and savings
through efficiency, and there were some targeted staff reductions during 2024. However, the Company has elected to retain its key employees
in anticipation of expected sales growth in technology systems and services in 2025 and beyond.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0 0 12pt; text-align: justify"></P>

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<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0 0 12pt; text-align: justify">The cost of revenues increased on services
and consulting year-over-year. The increase in costs is primarily due to $1,569,311 in amortization expense of the intangible asset related
to a nonmonetary transaction, which was not present in 2023. The Company also generated $921,562 in services and consulting revenue from
power consulting work, which was provided at cost, further increasing the cost of revenues for services and consulting, which was also
not present in 2023. The Company continues to put into service additional artificial intelligence algorithms and maintenance and support
services which are high margin and represent only marginal increases in the requisite costs to deliver these services.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0 0 12pt; text-align: justify"><B>Gross Margin</B></P>

<TABLE CELLPADDING="0" CELLSPACING="0" STYLE="font: 10pt Times New Roman, Times, Serif; border-collapse: collapse; width: 100%">
  <TR STYLE="vertical-align: bottom">
    <TD STYLE="text-align: justify"><FONT STYLE="font-size: 8pt">&#160;</FONT></TD><TD STYLE="font-weight: bold; padding-bottom: 1pt"><FONT STYLE="font-size: 8pt">&#160;</FONT></TD>
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    <TD COLSPAN="2" STYLE="border-bottom: Black 1pt solid; font-weight: bold; text-align: center"><FONT STYLE="font-size: 8pt">% Change</FONT></TD><TD STYLE="padding-bottom: 1pt; font-weight: bold"><FONT STYLE="font-size: 8pt">&#160;</FONT></TD></TR>
  <TR STYLE="vertical-align: bottom">
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    <TD STYLE="border-bottom: Black 1pt solid; text-align: left">&#160;</TD><TD STYLE="border-bottom: Black 1pt solid; text-align: right">6,162,317</TD><TD STYLE="padding-bottom: 1pt; text-align: left">&#160;</TD><TD STYLE="padding-bottom: 1pt">&#160;</TD>
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  <TR STYLE="vertical-align: bottom; background-color: rgb(204,238,255)">
    <TD STYLE="text-align: justify; padding-bottom: 2.5pt">Gross margin</TD><TD STYLE="padding-bottom: 2.5pt">&#160;</TD>
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    <TD STYLE="border-bottom: Black 2.5pt double; text-align: left">&#160;</TD><TD STYLE="border-bottom: Black 2.5pt double; text-align: right">-64</TD><TD STYLE="padding-bottom: 2.5pt; text-align: left">%</TD></TR>
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<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify; color: white"><B>&#160;</B></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0 0 12pt; text-align: justify">Gross margin showed a decrease for the year
ended December 31, 2024, as compared to the same period in 2023. As noted above, the decrease in margin was a direct result of the timing
of business activity related to the manufacturing of two high-speed, transit-focused Railcar Inspection Portals compared to the activity
in 2023. The business activity in 2024 consisted primarily of continued progression into the advanced stages of procurement and manufacturing
for the transit-focused RIPs. The Company also generated $921,562 in services and consulting revenue from power consulting work, which
was provided at cost, further diluting the overall gross margin. These same project revenues and subsequent margin impacts were absent
during 2023; however, the power consulting and asset management activities are expected to generate positive gross margins going forward.
The recognition of the revenue and subsequent profit from these projects, as well as underlying services and maintenance revenues from
existing and recently completed projects, coupled with the previously mentioned fixed departmental costs resulted in a gross margin of
approximately 6%. By comparison for the full-year 2023, the Company had increased business activity from a procurement and manufacturing
standpoint related to the transit-focused RIPs. The recognition of the revenue and subsequent profit from these major projects, as well
as underlying services and maintenance revenues from existing projects, resulted in an 18% gross margin in 2023. It should be noted that
when comparing the results between two periods, the stage of completion for manufacturing and installation can factor in those comparisons
and should be taken into account when analyzing those periods.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0 0 12pt; text-align: justify"><B>Operating Expenses</B></P>

<TABLE CELLPADDING="0" CELLSPACING="0" STYLE="font: 10pt Times New Roman, Times, Serif; border-collapse: collapse; width: 100%">
  <TR STYLE="vertical-align: bottom">
    <TD STYLE="font-size: 8pt; text-align: justify">&#160;</TD><TD STYLE="font-size: 8pt; font-weight: bold; padding-bottom: 1pt">&#160;</TD>
    <TD COLSPAN="10" STYLE="border-bottom: Black 1pt solid; font-size: 8pt; font-weight: bold; text-align: center">For the Years Ended<BR> December 31,</TD><TD STYLE="padding-bottom: 1pt; font-size: 8pt; font-weight: bold">&#160;</TD></TR>
  <TR STYLE="vertical-align: bottom">
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    <TD COLSPAN="2" STYLE="border-bottom: Black 1pt solid; font-size: 8pt; font-weight: bold; text-align: center">2024</TD><TD STYLE="padding-bottom: 1pt; font-size: 8pt; font-weight: bold">&#160;</TD><TD STYLE="font-size: 8pt; font-weight: bold; padding-bottom: 1pt">&#160;</TD>
    <TD COLSPAN="2" STYLE="border-bottom: Black 1pt solid; font-size: 8pt; font-weight: bold; text-align: center">2023</TD><TD STYLE="padding-bottom: 1pt; font-size: 8pt; font-weight: bold">&#160;</TD><TD STYLE="font-size: 8pt; font-weight: bold; padding-bottom: 1pt">&#160;</TD>
    <TD COLSPAN="2" STYLE="border-bottom: Black 1pt solid; font-size: 8pt; font-weight: bold; text-align: center">% Change</TD><TD STYLE="padding-bottom: 1pt; font-size: 8pt; font-weight: bold">&#160;</TD></TR>
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    <TD STYLE="text-align: justify">Operating expenses:</TD><TD>&#160;</TD>
    <TD STYLE="text-align: left">&#160;</TD><TD STYLE="text-align: right">&#160;</TD><TD STYLE="text-align: left">&#160;</TD><TD>&#160;</TD>
    <TD STYLE="text-align: left">&#160;</TD><TD STYLE="text-align: right">&#160;</TD><TD STYLE="text-align: left">&#160;</TD><TD>&#160;</TD>
    <TD STYLE="text-align: left">&#160;</TD><TD STYLE="text-align: right">&#160;</TD><TD STYLE="text-align: left">&#160;</TD></TR>
  <TR STYLE="vertical-align: bottom; background-color: White">
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  <TR STYLE="vertical-align: bottom; background-color: rgb(204,238,255)">
    <TD STYLE="text-align: left">Research and development</TD><TD>&#160;</TD>
    <TD STYLE="text-align: left">&#160;</TD><TD STYLE="text-align: right">1,531,390</TD><TD STYLE="text-align: left">&#160;</TD><TD>&#160;</TD>
    <TD STYLE="text-align: left">&#160;</TD><TD STYLE="text-align: right">1,812,951</TD><TD STYLE="text-align: left">&#160;</TD><TD>&#160;</TD>
    <TD STYLE="text-align: left">&#160;</TD><TD STYLE="text-align: right">-16</TD><TD STYLE="text-align: left">%</TD></TR>
  <TR STYLE="vertical-align: bottom; background-color: White">
    <TD STYLE="text-align: left; padding-bottom: 1pt">General and administration</TD><TD STYLE="padding-bottom: 1pt">&#160;</TD>
    <TD STYLE="border-bottom: Black 1pt solid; text-align: left">&#160;</TD><TD STYLE="border-bottom: Black 1pt solid; text-align: right">7,782,920</TD><TD STYLE="padding-bottom: 1pt; text-align: left">&#160;</TD><TD STYLE="padding-bottom: 1pt">&#160;</TD>
    <TD STYLE="border-bottom: Black 1pt solid; text-align: left">&#160;</TD><TD STYLE="border-bottom: Black 1pt solid; text-align: right">9,449,187</TD><TD STYLE="padding-bottom: 1pt; text-align: left">&#160;</TD><TD STYLE="padding-bottom: 1pt">&#160;</TD>
    <TD STYLE="border-bottom: Black 1pt solid; text-align: left">&#160;</TD><TD STYLE="border-bottom: Black 1pt solid; text-align: right">-18</TD><TD STYLE="padding-bottom: 1pt; text-align: left">%</TD></TR>
  <TR STYLE="vertical-align: bottom; background-color: rgb(204,238,255)">
    <TD STYLE="text-align: justify; padding-bottom: 2.5pt">Total operating expense</TD><TD STYLE="padding-bottom: 2.5pt">&#160;</TD>
    <TD STYLE="border-bottom: Black 2.5pt double; text-align: left">$</TD><TD STYLE="border-bottom: Black 2.5pt double; text-align: right">11,452,741</TD><TD STYLE="padding-bottom: 2.5pt; text-align: left">&#160;</TD><TD STYLE="padding-bottom: 2.5pt">&#160;</TD>
    <TD STYLE="border-bottom: Black 2.5pt double; text-align: left">$</TD><TD STYLE="border-bottom: Black 2.5pt double; text-align: right">12,755,447</TD><TD STYLE="padding-bottom: 2.5pt; text-align: left">&#160;</TD><TD STYLE="padding-bottom: 2.5pt">&#160;</TD>
    <TD STYLE="border-bottom: Black 2.5pt double; text-align: left">&#160;</TD><TD STYLE="border-bottom: Black 2.5pt double; text-align: right">-10</TD><TD STYLE="padding-bottom: 2.5pt; text-align: left">%</TD></TR>
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<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify; color: white">&#160;&#160;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0 0 12pt; text-align: justify">Overall operating expenses decreased by 10%
in 2024 as compared to the full year 2023. There was a 43% increase in sales and marketing related to increased investment into the capability
of the commercial team, including the addition of professionals with extensive experience and leadership in the rail, Edge data center
and power industries. Research and development costs saw a 16% decline during the year, driven by the decreased personnel costs related
to the departments allocated to R&amp;D and scaled-back testing of prospective technologies. Additionally, an 18% decrease in general
and administration costs was influenced by several factors, including a reduction in personnel and personnel related expenses as well
as a decrease in non-cash amortization charges year over year associated with roughly 781,323 share options that were forfeited during
2024. Other factors driving the decrease in general and administration costs include a decrease in consulting and legal expenses as compared
to 2023.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0 0 12pt; text-align: justify"><B>Loss From Operations</B></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0 0 12pt; text-align: justify">The losses from operations for the years ended
December 31, 2024 and 2023 were $10,983,526 and $11,446,566, respectively. The decrease in loss from operations was primarily the result
of planned decreases in operating expenses, which offset the impact of lower revenues recorded in the period as a consequence of delays
in going to field for the two high-speed RIPs for a passenger transit client, and the short term lower gross margins from the impact of
the initial power industry consulting.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0 0 12pt; text-align: justify"></P>

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<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0 0 12pt; text-align: justify"><B>Interest Expense</B></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0 0 12pt; text-align: justify">Interest expense for the years ended December
31, 2024 and 2023 was $286,114 and $7,159, respectively. The increase in interest expense is primarily due to the amortization of the
debt discount on the $2.2 million note and the associated monthly interest expense in 2024; this note, related to the acquisition and
build out of 3 Edge data centers, had not been entered into in 2023.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0 0 12pt; text-align: justify"><B>Other Income</B></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0 0 12pt; text-align: justify">Other income for the years ended December 31,
2024 and 2023 was $505,183 and $212,007, respectively. The significant increase in other income is primarily due to a gain from the fair
value adjustment of the warrant liability and gain on extinguishment of warrant liabilities resulting from the exercise of the warrants.
There was no such transaction in 2023.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0 0 12pt; text-align: justify"><B>Net Loss</B></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0 0 12pt; text-align: justify">The net loss for the years ended December 31,
2024 and 2023 was $10,764,457 and $11,241,718, respectively. The decrease in net loss is primarily attributable to the decrease in operating
costs as described above. Net loss per common share was $1.39 and $1.56 for the years ended December 31, 2024 and 2023, respectively.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0 0 12pt; text-align: justify"><B>Liquidity and Capital Resources</B></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0 0 12pt; text-align: justify">As of December 31, 2024, the Company has a
cash balance of $6,266,296 and an accounts receivable balance of $403,441.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0 0 12pt; text-align: justify"><B>Cash Flows</B></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0 0 12pt; text-align: justify">The following table sets forth the major components
of our statements of cash flows data for the periods presented:</P>

<TABLE CELLPADDING="0" CELLSPACING="0" STYLE="font: 10pt Times New Roman, Times, Serif; border-collapse: collapse; width: 100%">
  <TR STYLE="vertical-align: bottom">
    <TD STYLE="text-align: justify"><FONT STYLE="font-size: 8pt">&#160;</FONT></TD><TD STYLE="font-weight: bold; padding-bottom: 1pt"><FONT STYLE="font-size: 8pt">&#160;</FONT></TD>
    <TD COLSPAN="6" STYLE="border-bottom: Black 1pt solid; font-weight: bold; text-align: center"><FONT STYLE="font-size: 8pt">For the
    Years Ended<BR> December 31,</FONT></TD><TD STYLE="padding-bottom: 1pt; font-weight: bold"><FONT STYLE="font-size: 8pt">&#160;</FONT></TD></TR>
  <TR STYLE="vertical-align: bottom">
    <TD><FONT STYLE="font-size: 8pt">&#160;</FONT></TD><TD STYLE="font-weight: bold; padding-bottom: 1pt"><FONT STYLE="font-size: 8pt">&#160;</FONT></TD>
    <TD COLSPAN="2" STYLE="border-bottom: Black 1pt solid; font-weight: bold; text-align: center"><FONT STYLE="font-size: 8pt">2024</FONT></TD><TD STYLE="padding-bottom: 1pt; font-weight: bold"><FONT STYLE="font-size: 8pt">&#160;</FONT></TD><TD STYLE="font-weight: bold; padding-bottom: 1pt"><FONT STYLE="font-size: 8pt">&#160;</FONT></TD>
    <TD COLSPAN="2" STYLE="border-bottom: Black 1pt solid; font-weight: bold; text-align: center"><FONT STYLE="font-size: 8pt">2023</FONT></TD><TD STYLE="padding-bottom: 1pt; font-weight: bold"><FONT STYLE="font-size: 8pt">&#160;</FONT></TD></TR>
  <TR STYLE="vertical-align: bottom">
    <TD>&#160;</TD><TD>&#160;</TD>
    <TD COLSPAN="2" STYLE="text-align: justify">&#160;</TD><TD>&#160;</TD><TD>&#160;</TD>
    <TD COLSPAN="2" STYLE="text-align: justify">&#160;</TD><TD>&#160;</TD></TR>
  <TR STYLE="vertical-align: bottom; background-color: rgb(204,238,255)">
    <TD STYLE="width: 66%; text-align: justify">Net cash used in operating activities</TD><TD STYLE="width: 1%">&#160;</TD>
    <TD STYLE="width: 1%; text-align: left">$</TD><TD STYLE="width: 14%; text-align: right">(3,488,687</TD><TD STYLE="width: 1%; text-align: left">)</TD><TD STYLE="width: 1%">&#160;</TD>
    <TD STYLE="width: 1%; text-align: left">$</TD><TD STYLE="width: 14%; text-align: right">(8,746,564</TD><TD STYLE="width: 1%; text-align: left">)</TD></TR>
  <TR STYLE="vertical-align: bottom; background-color: White">
    <TD STYLE="text-align: justify">Net cash used in investing activities</TD><TD>&#160;</TD>
    <TD STYLE="text-align: left">&#160;</TD><TD STYLE="text-align: right">(1,841,298</TD><TD STYLE="text-align: left">)</TD><TD>&#160;</TD>
    <TD STYLE="text-align: left">&#160;</TD><TD STYLE="text-align: right">(1,093,909</TD><TD STYLE="text-align: left">)</TD></TR>
  <TR STYLE="vertical-align: bottom; background-color: rgb(204,238,255)">
    <TD STYLE="text-align: justify; padding-bottom: 1pt">Net cash provided by financing activities</TD><TD STYLE="padding-bottom: 1pt">&#160;</TD>
    <TD STYLE="border-bottom: Black 1pt solid; text-align: left">&#160;</TD><TD STYLE="border-bottom: Black 1pt solid; text-align: right">9,154,439</TD><TD STYLE="padding-bottom: 1pt; text-align: left">&#160;</TD><TD STYLE="padding-bottom: 1pt">&#160;</TD>
    <TD STYLE="border-bottom: Black 1pt solid; text-align: left">&#160;</TD><TD STYLE="border-bottom: Black 1pt solid; text-align: right">11,161,223</TD><TD STYLE="padding-bottom: 1pt; text-align: left">&#160;</TD></TR>
  <TR STYLE="vertical-align: bottom; background-color: White">
    <TD STYLE="text-align: justify; padding-bottom: 2.5pt">Net increase in cash</TD><TD STYLE="padding-bottom: 2.5pt">&#160;</TD>
    <TD STYLE="border-bottom: Black 2.5pt double; text-align: left">$</TD><TD STYLE="border-bottom: Black 2.5pt double; text-align: right">3,824,454</TD><TD STYLE="padding-bottom: 2.5pt; text-align: left">&#160;</TD><TD STYLE="padding-bottom: 2.5pt">&#160;</TD>
    <TD STYLE="border-bottom: Black 2.5pt double; text-align: left">$</TD><TD STYLE="border-bottom: Black 2.5pt double; text-align: right">1,320,750</TD><TD STYLE="padding-bottom: 2.5pt; text-align: left">&#160;</TD></TR>
  </TABLE>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0">&#160;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0 0 12pt; text-align: justify">Net cash used in operating activities for the
years ended December 31, 2024 and 2023 was $3,488,687 and $8,746,564, respectively. The decrease in net cash used in operations for the
year ended December 31, 2024 was the result of a decrease in expenditures related to current projects as previously discussed. In addition,
there are several changes in assets and liabilities that decreased the use of cash in operations including decreases in accounts receivable,
increases in accounts payable and accrued expenses, and a rise in contract liabilities due to advance payments received from customers.
Notably, an energy customer prepaid $5 million for services to be provided throughout the year, contributing to the increase in contract
liabilities and improving short-term cash flow.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0 0 12pt; text-align: justify">Net cash used in investing activities for the
years ended December 31, 2024 and 2023 was $1,841,298 and $1,093,909, respectively. The Company ramped up its investment activities in
2024 compared to 2023 through an increase in the purchase of various fixed assets including our three edge data centers that are currently
being manufactured to be deployed in the first half of 2025; the remainder includes the purchase of computer equipment and product and
software development and disbursements for patent costs.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0 0 12pt; text-align: justify">Net cash provided by financing activities for
the years ended December 31, 2024 and 2023 was $9,154,439 and $11,161,223, respectively. Cash flows provided by financing activities during
2024 were primarily attributable to gross proceeds of approximately $2,995,002 from issuances of Series D and Series E Convertible Preferred
Stock, along with a combined total of $4,444,210 in proceeds from the issuance of common stock via warrant exercises of $899,521 and our
At-The-Market (ATM) offering program for proceeds of $3,544,689. The Company also obtained $2,200,000 in cash proceeds pursuant to notes
executed in 2024 with a related parties. Cash flows from financing activities during 2023 were primarily attributable to the issuance
of Series E and Series F Convertible Preferred Stock for $11,500,000 of gross proceeds offset by repayments of certain loans related to
financing of insurance costs.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0 0 12pt; text-align: justify">During 2024, we funded our operations through
the sale of our equity (or equity linked) securities, and through revenues generated and cash received from ongoing project execution,
services and associated maintenance revenues. As of March 28, 2025, we have cash on hand of approximately $4,060,300 after the completion
of our At-The-Market (ATM) in January and February of 2025, which provided net proceeds of $3,836,032.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0 0 12pt; text-align: justify"></P>

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<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0 0 12pt; text-align: justify">On a long-term basis, our liquidity is dependent
on the continuation and expansion of operations and receipt of revenues. Our current capital and access to further capital and revenues
are sufficient to fund such expansion and we are now less dependent on timely payments by our customers for projects and work in process.
However we anticipate such timely payments to continue. Material cash requirements will be satisfied within the normal course of business,
including substantial upfront payments from our customers prior to starting projects. As previously mentioned, an energy customer prepaid
$5 million for services to be provided throughout the year, related to the AMA, contributing to the increase in contract liabilities and
improving short-term cash flow. In some cases, the Company may elect to purchase materials and supplies in advance of contract award but
where there is a high probability of that award. Most, if not all, high value items that are pre-purchased, can be re-purposed if necessary.
The maximum amount of material cash requirements not currently supported by up-front customer deposits is expected to be less than $1
million.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0 0 12pt; text-align: justify">Demand for the products and services will be
dependent on, among other things, market acceptance of our products and services, the technology market in general, and general economic
conditions, which are cyclical in nature. In as much as a major portion of our activities is the receipt of revenues from the sales of
our products and services, our business operations could be adversely affected by our competitors as well as prolonged recession periods
although these are not considered to be a factor at present.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0 0 12pt; text-align: justify"><B>Liquidity</B></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0 0 12pt; text-align: justify">Under Accounting Codification ASC 205, Presentation
of Financial Statements&#8212;Going Concern (Subtopic 205-40) (&#8220;ASC 205-40&#8221;), the Company has the responsibility to evaluate
whether conditions and/or events raise substantial doubt about its ability to meet its future financial obligations as they become due
within one year after the date that the financial statements are issued. As required by ASC 205-40, this evaluation shall initially not
take into consideration the potential mitigating effects of plans that have not been fully implemented as of the date the financial statements
are issued. Management has assessed the Company&#8217;s ability to continue as a going concern in accordance with the requirement of ASC
205-40.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0 0 12pt; text-align: justify">As reflected in the accompanying consolidated
financial statements, the Company had a net loss of $10,764,457 for the year ended December 31, 2024. During the same period, cash used
in operating activities was $3,488,687. The working capital deficit and accumulated deficit as of December 31, 2024, were $8,002,361 and
$74,368,009, respectively. In previous financial reports, the Company had raised substantial doubt about continuing as a going concern.
This was principally due to a lack of working capital prior to an underwritten offerings and private placements which were completed during
the first, third and fourth quarters of 2022, the first, third and fourth quarters of 2023, as well as 2024 and 2025.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0 0 12pt; text-align: justify">As previously noted, the Company was successful
during 2023 in raising gross proceeds of over $11,500,000 from the sale of Series E and F Preferred Stock. Additionally, late in the first
and second quarters of 2024, the Company raised gross proceeds of $2,995,002 from the issuance of a combination of Series D and E Preferred
Stock (See Note 14). The Company successfully raised approximately $3,544,689 in gross proceeds through its At-The-Market (ATM) offering
program in 2024 and secured an additional $3,954,940 in gross proceeds during the first two months of 2025. Additionally, during the second
quarter of 2025, the Company will again have access to its S-3 &#8220;shelf registration&#8221; statement allowing the Company to sell
additional securities. At the time of this document, the Company estimates that it has available capacity on its shelf registration which
it can utilize to bolster working capital and growth of the business in the event that revenues from its recently executed Asset Management
Agreement (&#8220;AMA&#8221;) with New APR Energy does not provide sufficient cash flow to support operations. Although additional investment
is not assured, the Company is comfortable that it would be able to raise sufficient capital to support expanded operations based on an
anticipated increase in business activity. In the long run, the continuation of the Company as a going concern is dependent upon the ability
of the Company to continue executing its business plan, generate enough revenue, and attain consistently profitable operations. We have
analyzed our cash flow under &#8220;stress test&#8221; conditions and have determined that we have sufficient liquid assets on hand or
available via the capital markets to maintain operations for at least twelve months from the issuance date of this report.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0 0 12pt; text-align: justify">In addition, management has taken and continues
to take actions including, but not limited to, elimination of certain costs that do not contribute to short term revenue, and re-aligning
both management and staffing with a focus on improving certain skill sets necessary to build growth and profitability and focusing product
strategy on opportunities that are likely to bear results in the relatively short term. The Company believes that, with the combination
of commercial sales success, coupled with an S-3 shelf registration availability starting in the second quarter of 2025, it will have
sufficient working capital to meet its obligations over the following twelve months. In the last twelve months the Company has seen growth
in its contracted backlog as well as significant, positive signs from new commercial projects that indicate improvements in future revenues.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0 0 12pt; text-align: justify">Management believes that, at this time, the
conditions in our traditional market space with ongoing contract delays and the additional time needed to execute on new contracts previously
reported could put a strain on our cash reserves. However, the anticipated steady cashflow from the AMA and the ability to raise capital
via its shelf registration indicate there is no substantial doubt for the Company to continue as a going concern for a period of twelve
months. We expect to continue executing the plan to grow our business and achieve profitability as previously discussed. The Company may
selectively look at opportunities for fundraising in the future including potential debt offerings to support asset acquisition. Management
has extensively evaluated our requirements for the next 12 months and has determined that the Company currently has sufficient cash and
access to capital to operate for at least that period.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0 0 12pt; text-align: justify"></P>

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<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0 0 12pt; text-align: justify">While no assurance can be provided, management
believes that these actions provide the opportunity for the Company to continue as a going concern and to grow its business and achieve
profitability with access to additional capital funding. Ultimately the continuation of the Company as a going concern is dependent upon
the ability of the Company to continue executing the plan described above which was put in place in late 2024 and will continue in 2025
and beyond. As a result, we expect to generate sufficient revenue and to attain profitable operations with minimal cash use in the next
12 to 18 months. These consolidated financial statements do not include any adjustments related to the recoverability and classification
of recorded asset amounts and classification of liabilities that might be necessary should the Company be unable to continue as a going
concern.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0 0 12pt; text-align: justify"><B>Critical Accounting Estimates</B></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0 0 12pt; text-align: justify"><B>Revenue Recognition </B></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0 0 12pt; text-align: justify">For technology systems, the Company recognizes
revenue over time using a cost-based input methodology in which significant judgment is required to estimate costs to complete projects.
These estimated costs are then used to determine the progress towards contract completion and the corresponding amount of revenue to recognize.
The Company follows the principles in ASC 606 which include the following: a contract with a customer creates distinct contract assets
and performance obligations, satisfaction of a performance obligation creates revenue, and a performance obligation is satisfied upon
transfer of control to a good or service to a customer.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0 0 12pt; text-align: justify">Revenue is recognized by evaluating the Company
revenue contracts with customers based on the five-step model under ASC 606:</P>

<TABLE CELLSPACING="0" CELLPADDING="0" STYLE="font: 10pt Times New Roman, Times, Serif; width: 100%; border-collapse: collapse">
  <TR STYLE="vertical-align: top">
    <TD STYLE="width: 24px">&#160;</TD>
    <TD STYLE="width: 24px">1.</TD>
    <TD STYLE="text-align: justify">Identify the contract with the customer;</TD></TR>
  </TABLE>
<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0">&#160;</P>

<TABLE CELLSPACING="0" CELLPADDING="0" STYLE="font: 10pt Times New Roman, Times, Serif; width: 100%; border-collapse: collapse">
  <TR STYLE="vertical-align: top">
    <TD STYLE="width: 24px">&#160;</TD>
    <TD STYLE="width: 24px">2.</TD>
    <TD STYLE="text-align: justify">Identify the performance obligations in the contract;</TD></TR>
  </TABLE>
<P STYLE="font: 11pt Times New Roman, Times, Serif; margin: 0">&#160;</P>

<TABLE CELLSPACING="0" CELLPADDING="0" STYLE="font: 10pt Times New Roman, Times, Serif; width: 100%; border-collapse: collapse">
  <TR STYLE="vertical-align: top">
    <TD STYLE="width: 24px">&#160;</TD>
    <TD STYLE="width: 24px">3.</TD>
    <TD STYLE="text-align: justify">Determine the transaction price;</TD></TR>
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<P STYLE="font: 11pt Times New Roman, Times, Serif; margin: 0">&#160;</P>

<TABLE CELLSPACING="0" CELLPADDING="0" STYLE="font: 10pt Times New Roman, Times, Serif; width: 100%; border-collapse: collapse">
  <TR STYLE="vertical-align: top">
    <TD STYLE="width: 24px">&#160;</TD>
    <TD STYLE="width: 24px">4.</TD>
    <TD STYLE="text-align: justify">Allocate the transaction price to separate performance obligations; and</TD></TR>
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<P STYLE="font: 11pt Times New Roman, Times, Serif; margin: 0">&#160;</P>

<TABLE CELLSPACING="0" CELLPADDING="0" STYLE="font: 10pt Times New Roman, Times, Serif; width: 100%; border-collapse: collapse">
  <TR STYLE="vertical-align: top">
    <TD STYLE="width: 24px">&#160;</TD>
    <TD STYLE="width: 24px">5.</TD>
    <TD STYLE="text-align: justify">Recognize revenue when (or as) each performance obligation is satisfied.</TD></TR>
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<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0">&#160;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0 0 12pt; text-align: justify">The Company generates revenue from four sources:</P>

<TABLE CELLSPACING="0" CELLPADDING="0" STYLE="font: 10pt Times New Roman, Times, Serif; width: 100%; border-collapse: collapse">
  <TR STYLE="vertical-align: top">
    <TD STYLE="width: 24px">&#160;</TD>
    <TD STYLE="width: 24px; line-height: 105%"><FONT STYLE="line-height: 105%">1.</FONT></TD>
    <TD STYLE="text-align: justify; line-height: 105%"><FONT STYLE="line-height: 105%">Technology Systems</FONT></TD></TR>
  </TABLE>
<P STYLE="font: 11pt Times New Roman, Times, Serif; margin: 0">&#160;</P>

<TABLE CELLSPACING="0" CELLPADDING="0" STYLE="font: 10pt Times New Roman, Times, Serif; width: 100%; border-collapse: collapse">
  <TR STYLE="vertical-align: top">
    <TD STYLE="width: 24px">&#160;</TD>
    <TD STYLE="width: 24px; line-height: 105%"><FONT STYLE="line-height: 105%">2.</FONT></TD>
    <TD STYLE="text-align: justify; line-height: 105%"><FONT STYLE="line-height: 105%">AI Technologies</FONT></TD></TR>
  </TABLE>
<P STYLE="font: 11pt Times New Roman, Times, Serif; margin: 0">&#160;</P>

<TABLE CELLSPACING="0" CELLPADDING="0" STYLE="font: 10pt Times New Roman, Times, Serif; width: 100%; border-collapse: collapse">
  <TR STYLE="vertical-align: top">
    <TD STYLE="width: 24px">&#160;</TD>
    <TD STYLE="width: 24px; line-height: 105%"><FONT STYLE="line-height: 105%">3.</FONT></TD>
    <TD STYLE="text-align: justify; line-height: 105%"><FONT STYLE="line-height: 105%">Technical Support</FONT></TD></TR>
  </TABLE>
<P STYLE="font: 11pt Times New Roman, Times, Serif; margin: 0">&#160;</P>

<TABLE CELLSPACING="0" CELLPADDING="0" STYLE="font: 10pt Times New Roman, Times, Serif; width: 100%; border-collapse: collapse">
  <TR STYLE="vertical-align: top">
    <TD STYLE="width: 24px">&#160;</TD>
    <TD STYLE="width: 24px; line-height: 105%"><FONT STYLE="line-height: 105%">4.</FONT></TD>
    <TD STYLE="text-align: justify; line-height: 105%"><FONT STYLE="line-height: 105%">Consulting Services including revenues from the AMA agreement which begins in January 2025</FONT></TD></TR>
  </TABLE>
<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify">&#160;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0 0 12pt; text-align: justify"><B>Equity Method Investments</B></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0 0 12pt; text-align: justify">If an investment qualifies for the equity method
of accounting, the Company&#8217;s investment is recorded initially at cost and subsequently adjusted for equity in net income (loss)
and cash contributions and distributions. The net income or loss of an unconsolidated equity method investment is allocated to its investors
in accordance with the provisions of the operating agreement of the entity. The allocation provisions in these agreements may differ from
the ownership interest held by each investor. Differences, if any, between the carrying amount of our investment in the respective equity
method investee and the Company&#8217;s share of the underlying equity of such equity method investee are amortized over the respective
lives of the underlying assets as applicable. These items are reported as a single line item in the consolidated statements of operations
as income or loss from investments in unconsolidated equity method investees. Investments are reviewed for changes in circumstance or
the occurrence of events that suggest an other-than-temporary event where our investment may not be recoverable.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0 0 12pt; text-align: justify"></P>

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<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0 0 12pt; text-align: justify">On December 31, 2024, the Company entered into
an Asset Management Agreement (the &#8220;AMA&#8221;), with New APR, an entity formed by affiliates of Fortress Investment Group (&#8220;FIG&#8221;).&#160;Under
the AMA, Duos Energy will manage the deployment and operations of a fleet of mobile gas turbines and balance-of-plant inventory, providing
management, sales and operations functions to New APR in connection with the Assets. In exchange for services to be performed under the
AMA, the Company received an initial cash payment and common units in Sawgrass Parent. While the Company has board representation in Sawgrass
Parent, its common units are non-voting and the Company does not control the board of directors of Sawgrass Parent.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0 0 12pt; text-align: justify">Where the Company has an interest in a Variable
Interest Entities (&#8220;VIE&#8221;) it will consolidate any VIE in which the Company has a controlling financial interest and deemed
to be the primary beneficiary. A controlling financial interest has both of the following characteristics: (1) the power to direct the
activities of the VIE that most significantly impact its economic performance; and (2) the obligation to absorb losses of the VIE that
could potentially be significant to the VIE or the right to receive benefits from the VIE that could be significant to the VIE. If both
of the characteristics are met, the Company is considered to be the primary beneficiary and therefore will consolidate that VIE into the
consolidated financial statements.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0 0 12pt; text-align: justify">Investments in partnerships, unincorporated
joint ventures and LLCs that maintain specific ownership accounts for each investor are excluded from the scope of ASC 323-10. However,
ASC 323-30 provides guidance on applying the criteria for equity method accounting to investments in partnerships, unincorporated joint
ventures and LLCs. When an investor in a partnership, unincorporated joint venture or LLC has the ability to exercise significant influence
over that investment, it should apply the equity method (ASC 323-10) by analogy (ASC 323-30-25-1).</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0 0 12pt; text-align: justify">Sawgrass Parent is deemed to be a VIE and the
Company holds a 5% interest in the Parent and an interest in the subsidiary New APR through the AMA, both of which are considered variable
interests. However, the Company does not represent the primary beneficiary as it does not possess the ability to direct the activities
that most significantly impact the economic performance of Sawgrass Parent. Accordingly, the Company does not consolidate Sawgrass Parent.
Due to the Company&#8217;s interest in Sawgrass Parent, it was determined that the Company has significant influence over Sawgrass Parent.
Therefore, the Company accounts for its investment in Sawgrass Parent as an Equity Method Investment.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0 0 12pt; text-align: justify">The Company also concluded that the arrangement
with Sawgrass Parent is within the scope of ASC 606, Revenue from contracts with customers, and the common units issued to the Company
by Sawgrass Parent represented non-cash consideration. The initial carrying value as of December 31, 2024 of $7.2 million was measured
equal to the fair value of the common units received for future services to be performed under the AMA. The Company recorded $7.2 million
of deferred revenue for services to be performed under the AMA. During the year ended December 31, 2024, the Company did not recognize
any revenue associated with the AMA. The Company will initially record the equity method investment in Sawgrass Parent of $7.2 million,
equal to the fair value of the common units as of December 31, 2024.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0 0 12pt; text-align: justify">The Company assesses its equity method investment
for impairment whenever events or changes in circumstances indicate that the carrying amount of the investment may not be recoverable.
No impairment losses were recognized during the year ended December 31, 2024.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0 0 12pt; text-align: justify"><B>Impairment of Intangible Assets</B></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0 0 12pt; text-align: justify">In May 2024, the Company recorded an intangible
asset with a fair value of $11,161,428. This asset represents non-monetary consideration received under a 5-year customer contract, in
which the Company will provide maintenance services to the customer. The intangible asset represents Digital Image data rights in the
form of a license agreement received by the Company from the customer.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0 0 12pt; text-align: justify">The fair value of the asset was determined
on the contract inception date based on the standalone selling price of the service and goods to be provided to the customer under the
5-year contract since the Company could not reasonably estimate the fair value of the data rights received. The non-monetary transaction
was accounted for in accordance with Accounting Standards Codification (ASC) 606-10-32-21 through ASC 606-10-32-24.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0 0 12pt; text-align: justify">On the contract inception date, the Company
also recorded an immediate amortization of the intangible asset of $199,008 related to the pre-contract costs incurred relating to a pilot
program for this contract and recorded deferred revenue of $11,161,428 as contract liabilities with a current and non-current component,
and then immediately recognized $199,008 of this deferred revenue relating to the completed pilot program. The remaining deferred revenue
is being recognized over the 5-year term.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0 0 12pt; text-align: justify">In accordance with ASC 350-30-35-1, the amortization
for the intangible asset is based on its useful life and the useful life of an intangible asset is the period over which it is expected
to contribute directly or indirectly to the future cash flows of that entity. Accordingly, amortization of the intangible asset is recognized
over the life of the contract of five years.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0 0 12pt; text-align: justify">In accordance with ASC 350-30-35-14, an intangible
asset that is subject to amortization shall be reviewed for impairment if the carrying amount of the asset is not recoverable and exceeds
its fair value.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0 0 12pt; text-align: justify">There is no indication of impairment at December
31, 2024.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0 0 12pt; text-align: justify"></P>

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<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0 0 12pt; text-align: justify"><B>Stock Based Compensation</B></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0 0 12pt; text-align: justify">The Company accounts for employee and non-employee
stock-based compensation in accordance with ASC 718-10, &#8220;<I>Share-Based Payment</I>,&#8221; which requires the measurement and recognition
of compensation expense for all share-based payment awards made to employees and directors including stock options, restricted stock units,
and employee stock purchases based on estimated fair values. The stock-based compensation carries a graded vesting feature subject to
the condition of time of employment service with awarded stock-based compensation tranches vesting evenly upon the anniversary date of
the award.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0 0 12pt; text-align: justify">The Company estimates the fair value of stock
options granted using the Black-Scholes option-pricing formula. In accordance with ASC 718-10-35-8, the Company elected to recognize the
fair value of the stock award using the graded vesting method as time of employment service is the criteria for vesting. The Company amortizes
the fair value of the stock award over the requisite service periods of the awards, which is generally the vesting period. The Company&#8217;s
determination of fair value using an option-pricing model is affected by the stock price as well as assumptions regarding a number of
highly subjective variables.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0 0 12pt; text-align: justify">The Company estimates volatility based upon
the historical stock price of the Company and estimates the expected term for stock options using the simplified method for employees
and directors and the contractual term for non-employees. The risk-free rate is determined based upon the prevailing rate of United States
Treasury securities with similar maturities.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0">&#160;</P>


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<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0"><B>&#160;</B></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0 0 12pt; text-align: center"><FONT ID="a_0011"></FONT><B>BUSINESS</B></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0 0 12pt; text-align: justify"><B>Our Corporate History</B></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0 0 12pt; text-align: justify">Information Systems Associates, Inc. (&#8220;ISA&#8221;)
was incorporated in Florida on May 31, 1994. Our original business operations consisted of consulting services for asset management of
large corporate data centers and the development and licensing of information technology (&#8220;IT&#8221;) asset management software.
In late 2014, ISA entered negotiations with Duos Technologies, Inc. (&#8220;duostech&#8482;&#8221;) for the purposes of executing a merger
between the two organizations (also known as a &#8220;reverse triangular merger&#8221;). Incorporated under the laws of Florida on November
30, 1990, duostech&#8482; operated in various industry segments, specializing in the design, development and deployment of proprietary
technology applications and turn-key engineered systems. This transaction was completed on April 1, 2015, whereby duostech&#8482; became
a wholly owned subsidiary of ISA. After the merger was completed, ISA changed its corporate name to Duos Technologies Group, Inc. (&#8220;Duos&#8221;
or &#8220;the Company&#8221;). During 2024, the Company began a major expansion into new markets, leveraging the developments previously
undertaken and the experience of its management team. Still headquartered in Jacksonville, Florida, Duos now manages three, wholly owned
subsidiaries, duostech&#8482;, Duos Edge AI Inc., (&#8220;Duos Edge&#8221;) and Duos Energy Corporation (&#8220;Duos Energy&#8221;). In
its current operations it now employs approximately 100 people in management, operations, engineering, software development, customer
support and project implementation and management across three major market segments including rail technology deployment, Data Center
co-location facilities and behind the meter electrical power provision. Duos also continues to operate as a technology company which designs,
develops, deploys and operates intelligent technology solutions with a focus on software applications and artificial intelligence (&#8220;AI&#8221;)
in addition to large project, consulting, implementation and asset management. The Company has a strong and growing portfolio of intellectual
property including significant patent awards in the areas of railcar scanning technology for the identification of defects. The Company&#8217;s
headquarters are located at 7660 Centurion Parkway, Suite 100, Jacksonville, Florida 32256 and main telephone number is (904) 296-2807.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0 0 12pt; text-align: justify"><B>Overview</B></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0 0 12pt; text-align: justify">The Company, operating under its brand name
<FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 8pt; color: #548DD4"><B>duos</B></FONT><B><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 8pt">tech</FONT></B>,
develops and deploys technology systems with focus on inspecting and evaluating moving vehicles. Its technology focus is within the Vision
Technology market sector and, more specifically, the Machine Vision subsector. Machine Vision companies provide imaging-based automatic
inspection and analysis for process control for industry with potential expansion into other markets. Duos has developed key technologies
over the past several years in software, industry specific hardware and artificial intelligence and has demonstrated industrial strength
usability of its systems supporting rail, logistics and intermodal businesses that streamline operations, improve safety and reduce costs.
Our team includes engineering subject matter expertise in hardware, software, and information technology as well as industry specific
applications of artificial intelligence also referred to as Expert Artificial Intelligence. We also have specific industry experts in
the rail industry on staff and as consultants.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0 0 12pt; text-align: justify">In 2024, the Company&#8217;s management team
determined that it would be in the best interests of the Company and its shareholders to leverage the skills and expertise that have been
built up since 2021 to expand into complimentary and naturally adjacent markets. Duos will continue to develop industry solutions for
its target markets addressing rail, trucking, aviation and other vehicle-based processes. In addition, the Company elected to develop
new offerings based on its existing technology and formed a new subsidiary in July 2024, Duos Edge AI. The objective of this new subsidiary
is to market a special part of the Railcar Inspection Portal (&#8220;RIP&#8221;) for the provision of high-speed and function processing
of data and applications with a focus on reducing latency in response times to end-users. Duos has many years of experience via its expert
staff in bringing these types of capabilities to remote locations, also known as &#8220;the edge&#8221;. Edge processing can be an extremely
efficient and lower cost alternative to traditional data centers. The strategy for Duos Edge is to serve rural communities, also known
as Tier 3 and 4 markets, and install Edge data centers in these locations thereby providing access to high-speed communications and advanced
processing capabilities as a substitute for solutions where large amounts of data are &#8220;backhauled&#8221; using &#8220;the Cloud&#8221;.
Duos developed these capabilities as an adjunct to its RIP offerings due to the need for fast results (less than 60 seconds) in identifying
defects and maintenance issues on moving railcars.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0 0 12pt; text-align: justify">As Duos&#8217; initial offering, the RIP provides
both freight and transit railroad customers and select government agencies the ability to conduct fully remote railcar inspections of
trains while they are moving at full speed. The RIP utilizes a variety of sophisticated optical, laser and speed sensors to scan each
passing railcar to create a high-resolution image-set of the top, sides and undercarriage. These images are then processed with our edge
data center using artificial intelligence (AI) algorithms to identify safety and security defects on each railcar. The algorithms are
developed in conjunction with industrial application experts, in this case resident Railcar Mechanical Engineers, to provide specific
guidance in the analysis (&#8220;human in the loop&#8221;). Within seconds of the railcar passing through the RIP, a detailed report is
sent to the customer where they are able to take action on identified issues. This solution has the potential to transform the railroad
industry immediately increasing safety, improving efficiency and reducing costs. The Company has already deployed this system with several
Class 1 railroads and anticipates an increased demand from transit and other railroad customers along with selected government agencies
that operate and/or manage rail traffic. The Company has deployed RIPs in Canada, Mexico and the United States and anticipates expanding
this solution into Europe, Asia and the Middle East in coming years.&#160;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0 0 12pt; text-align: justify"></P>

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<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0 0 12pt; text-align: justify">Duos has been successful in patenting much
of its technology and specifically for the rail industry offerings. Key patents include:</P>

<TABLE CELLPADDING="0" CELLSPACING="0" STYLE="font: 10pt Times New Roman, Times, Serif; width: 100%; margin-top: 0; margin-bottom: 0"><TR STYLE="vertical-align: top">
<TD STYLE="width: 0.5in"></TD><TD STYLE="width: 0.25in">&#183;</TD><TD STYLE="text-align: justify">Use of Artificial Intelligence (&#8220;AI&#8221;) to detect defects in trains and method to use (US 11,891,098
B1)</TD></TR></TABLE>

<TABLE CELLPADDING="0" CELLSPACING="0" STYLE="font: 10pt Times New Roman, Times, Serif; width: 100%; margin-top: 0; margin-bottom: 0"><TR STYLE="vertical-align: top">
<TD STYLE="width: 0.5in"></TD><TD STYLE="width: 0.25in">&#183;</TD><TD STYLE="text-align: justify">Device to Capture High Resolution Images of a train as it passes through an inspection portal (US 11,974,035
B1)</TD></TR></TABLE>

<TABLE CELLPADDING="0" CELLSPACING="0" STYLE="font: 10pt Times New Roman, Times, Serif; width: 100%; margin-top: 0; margin-bottom: 0"><TR STYLE="vertical-align: top">
<TD STYLE="width: 0.5in"></TD><TD STYLE="width: 0.25in">&#183;</TD><TD STYLE="text-align: justify">Device to Capture High Resolution Images of the undercarriage of a freight car (US 12,188,846 B2)&#160;</TD></TR></TABLE>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0">&#160;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0 0 12pt; text-align: justify">These three recent patents, in conjunction
with 8 other patents, put Duos in a dominant position for this type of scanning technology (also known as &#8220;Wayside Technology&#8221;)
and the Company expects to both deploy systems and, where appropriate, license to users or manufacturers. The Company has previously notified
certain third parties of the existence of these patents to secure its rights in regard to this intellectual property.&#160;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0 0 12pt; text-align: justify">The Company has also developed the Automated
Logistics Information System (ALIS) which can automate gatehouse operations where transport trucks enter and exit large logistics and
intermodal facilities. This solution incorporates a similar set of sensors, data processing and artificial intelligence to streamline
the customer&#8217;s logistics transactions and tracking and can also automate the security and safety inspection if called for. The Company
has previously deployed this system with one large North American retailer. While Duos originally anticipated increased demand from other
large retailers, railroad intermodal operators and select government agencies that manage logistics and border crossing points, the Company
has been resource constrained to effectively market this offering. However, the Company continues to perform research and development
in evaluating other solutions for moving vehicles including aircraft, which could provide similar benefits in terms of safety and efficiency
for required inspections as part of an operations process. The Company will continue to evaluate its resource commitments in future years
in conjunction with the expected growth in revenues and cash flow to support additional investments in these areas.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0 0 12pt; text-align: justify">Also in late 2024, Duos formed a third subsidiary,
Duos Energy Corporation (&#8220;Duos Energy&#8221;) with the express purpose of providing consulting services and solutions for the rapidly
growing demand for electrical power outside of traditional utilities. As an outgrowth of its new Edge Data Center subsidiary, and the
current expert staff on-hand, Duos has engaged with multiple third parties to act in a consulting and asset management capacity whereby
Duos staff will be engaged directly to supply this type of power solutions for multiple uses including for large data centers supporting
AI &#8220;hyperscalers&#8221;. In late 2024, Duos also engaged with Fortress Investment Group (&#8220;FIG&#8221;) to assist in FIG&#8217;s
purchase of approximately 850 Mega Watts of electrical generation capacity (consisting of 30 mobile gas turbine generators) and associated
equipment to support their installation and operation (&#8220;balance of plant&#8221;), certain trademarks and domain names and certain
contracts. In late November 2024, Sawgrass Buyer, LLC (&#8220;Sawgrass&#8221;), an entity formed and owned by FIG, executed an asset purchase
agreement with Atlas Corporation, APR Energy Holdings Limited and a number of its wholly-owned affiliates (collectively &#8220;APR&#8221;).
From 2018 to 2020, Chuck Ferry, our CEO, was formerly the CEO of APR. The transaction closed on December 31, 2024. At closing, Sawgrass
entered into an Asset Management Agreement (&#8220;AMA&#8221;) with Duos under which a substantial portion of Duos staff and some members
of the management team (including Mr. Ferry), would oversee operations of Sawgrass. The AMA term is up to two years and is expected to
generate approximately $42 million in revenue for Duos over that period. At closing, Duos also took a 5% ownership stake in Sawgrass APR
Holdings LLC, the ultimate parent company of Sawgrass. Subsequent to closing, Sawgrass changed its name to New APR Energy, LLC (&#8220;New
APR&#8221;).&#160;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0 0 12pt; text-align: justify">Under the terms of the AMA, Duos staff is conducting
all operations for commercial engagement, planning and project management, installation and operations of the New APR assets. The new
entity shares certain management functions with Duos including the CEO, COO, Chief Commercial Officer and General Counsel and other services
provided by Duos in a combination of direct staffing with specific experience in the power generation industry and other functions as
necessary via a &#8220;shared services&#8221; agreement. New APR will have its own President and Chief Financial Officer and while in
the early stages, certain accounting staff will be supplied via the shared services arrangement, it is expected that New APR will develop
its own accounting and administrative functions. It is expected that there will be a strong correlation between the two companies, particularly
in the areas of Data Center power generation and business development and Duos is expected to participate in these opportunities in addition
to the anticipated revenues from the AMA.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0 0 12pt; text-align: justify"><B>Intelligent Technologies</B></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0 0 12pt; text-align: justify">Duos has developed two proprietary solutions
that continue to form the basis for the operations of our data capture, user interface software and artificial intelligence based analytics.
<FONT STYLE="background-color: white"><B>cen</B></FONT><B><FONT STYLE="color: #548DD4">t</FONT><FONT STYLE="background-color: white">raco</FONT><SUP>&#174;
</SUP></B>is an Enterprise Information Management Software platform that consolidates data and events from multiple sources into a unified
and distributive user interface. Customized to the end user&#8217;s Concept of Operations (CONOPS), it provides improved situational awareness
and data visualization for operational objectives compared to traditional manual inspections. <FONT STYLE="color: #548DD4"><B>true</B></FONT><B><FONT STYLE="background-color: white">vue</FONT>360<SUP>&#8482;
</SUP></B>is our fully integrated platform that we utilize to develop and deploy Artificial Intelligence (AI) algorithms, including Machine
Learning, Computer Vision, Object Detection and Deep Neural Network-based processing for real-time applications.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0 0 12pt; text-align: justify">These same Artificial Intelligence applications
are creating other opportunities for the Company to provide revenue producing solutions with potentially high market adoption.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0 0 12pt; text-align: justify"></P>

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<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0 0 12pt; text-align: justify">In 2021, the Company ended support of its IT
Asset Management (ITAM) solution which cataloged results for data center asset inventory and audit services. We are now using our current
operations experience within &#8220;edge data centers&#8221; (as deployed for our Railcar Inspection Portal) to drive additional revenues
within other markets requiring this type of solution. As previously discussed, the formation of a new subsidiary, Duos Edge focuses on
this rapidly growing market, and is well suited to contribute to the growth of the Company&#8217;s revenues and predicted future profitability.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0 0 12pt; text-align: justify">In the last quarter of 2022, the Company elected
not to renew a support contract for its Integrated Correctional Automation System (iCAS) for one customer. The Company subsequently sold
its iCAS assets to a buyer during the second quarter of 2023 for $165,000 via a convertible note. Our current CFO is a related party of
the buyer as its non-Executive Chairman.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0 0 12pt; text-align: justify">The year 2024 was a transformative year for
Duos with the addition of two new subsidiaries addressing the adjunct Edge Data Center market and the power generation market, utilizing
much of the skills and expertise inherent in the staff that has been built up in the past 24 months. All three businesses made significant
progress during 2024 including:</P>

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    <TD STYLE="padding-bottom: 6pt; text-align: justify">Execution of a long-term agreement with a major Class 1 railroad for the support of the &#8220;subscription&#8221; based offering, giving access to data and images by a much broader target market including Class 1 railroads, railcar owners and lessors, and short-line railroads.</TD></TR>
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<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0">&#160;</P>

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    <TD STYLE="width: 7px">&#160;</TD>
    <TD STYLE="padding-bottom: 6pt; text-align: justify">Development of a modular &#8220;RIP&#8221; allowing the capability of much greater customization of desired images and an overall lower cost to potential purchasers.</TD></TR>
  </TABLE>
<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0">&#160;</P>

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    <TD STYLE="width: 7px">&#160;</TD>
    <TD STYLE="padding-bottom: 6pt; text-align: justify">Sales of customized RIPs to industrial companies where specialized applications or routes demand a bespoke solution.</TD></TR>
  </TABLE>
<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0">&#160;</P>

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    <TD STYLE="width: 7px">&#160;</TD>
    <TD STYLE="padding-bottom: 6pt; text-align: justify">Entrance into the market for edge computing by targeting key opportunities within the Tier 3 and 4 markets for education and supplying specialized data centers to serve those markets in conjunction with providing computing and telecommunications capacity to commercial customers outside of the rail industry.</TD></TR>
  </TABLE>
<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0">&#160;</P>

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    <TD STYLE="width: 7px">&#160;</TD>
    <TD STYLE="padding-bottom: 6pt; text-align: justify">Offering consulting, asset management including full organizational implementation and support, with operational capabilities for the power generation market focusing on data center operations.</TD></TR>
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<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify"><B>&#160;</B></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0 0 12pt; text-align: justify"><B>Operating Subsidiaries</B></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0 0 12pt; text-align: justify"><FONT STYLE="color: #548DD4"><B>duos</B></FONT><B>tech&#8482;</B></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0 0 12pt; text-align: justify">The Company currently operates in three distinct
but related segments. While these newer businesses remain in the early stages of development, one has begun generating revenue, whereas
the other has not as of March 31, 2025. Accordingly, for purposes of segment reporting under ASC 280, the Company has determined that
it operates in a single reportable segment, as the Chief Operating Decision Maker currently evaluates financial performance and allocates
resources on a consolidated basis. The Company markets itself collectively under the Duostech&#8482; brand name, which broadly covers
the Company&#8217;s commercial activities within a wide range of technology deployments from sophisticated moving vehicle analysis using
machine vision and AI to deployment of specialized data centers and operational deployment of alternatives to grid power through its relationship
with New APR.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0 0 12pt; text-align: justify">Duos Technologies, Inc.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0 0 12pt; text-align: justify">Duos Technologies, until recently, was our
sole operating entity and is currently being led by our Chief Technology Officer. Its mission is to develop leading edge technologies
as Duos has done since its inception. It consists of a dedicated team of developers focused on creating solutions for the transportation
industry and has spent much of the past five years focused on building the premier offering for large rail operators. It has been successful
in securing 11 patents that cover much of the &#8220;best in class&#8221; wayside technology offerings.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0 0 12pt; text-align: justify"><B><I>Railcar Inspection Portal</I> (r<FONT STYLE="color: #548DD4">i</FONT>p&#174;)</B></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0 0 12pt; text-align: justify">The RIP is our premier offering for the scanning
and analysis of railcars while they are in motion. Federal regulations require each railcar/train to be inspected for mechanical defects
prior to leaving a rail yard. Founded in 1934, the Association of American Railroads (AAR) is responsible for setting the standards for
the safety and productivity of the U.S./North American freight rail industry, and by extension, has established the inspection parameters
for the rail industry&#8217;s rolling stock. Also known as the &#8220;Why Made&#8221; codes, the AAR established approximately 110 inspection
points under its guidelines for mechanical inspections.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0 0 12pt; text-align: justify">Under current practice, inspections are conducted
manually, a very labor intensive and inefficient process that only covers a select number of inspection points and can take several hours
per train. Our RIP reduces this inspection to minutes while the train is moving at speed, improving safety, reducing dwell time and optimizing
maintenance.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0 0 12pt; text-align: justify"></P>

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<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0 0 12pt; text-align: justify">Our system combines high-definition image and
data capture technologies with our AI-based analytics applications that are typically installed on active tracks located between two rail
yards. We inspect railcars traveling through our inspection portal at speeds of up to 70 mph for freight and up to 125 mph for high-speed
transit and report mechanical anomalies detected by our system to the inbound train yard, well ahead of the train entering the yard.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0 0 12pt; text-align: justify">Currently, three Class 1 railroads and several
transit and international railroads have deployed our RIP with one of those railroads broadly deploying the technology across its network.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0 0 12pt; text-align: justify">The Company continues to expand its detection
capabilities through the development and integration of additional sensor technologies to include laser, infrared, thermal, sound and
signal detection to process AI-based analytics of inspection points. Currently the Company has a high-reliability catalog of over 53 proprietary
artificial intelligence algorithms which can be integrated into the RIP to enhance mechanical anomalies detections. These detections support
railroads in the active maintenance and overall safety of their railcar fleet and networks.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0 0 12pt; text-align: justify"><B>Railcar Inspection Portal (RIP) Business
Overview and 2024 Technical Advancements</B></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0 0 12pt; text-align: justify">Over the past year, we transformed our technical
solutions, redefined our business model, and reimagined the way we work. Through continued investment in research and development we have
fortified and further commercialized our existing product offerings. We have made them more scalable and rolled out features and capabilities
that speak directly to customer value. We have reached new markets and restructured how we promote, sell, and get paid.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0 0 12pt; text-align: justify">As part of our continued focus on innovation
and operational efficiency, we have made significant strides in the following technical areas:</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0 0 12pt; text-align: justify"><B>System Modularity &#8211; Adapting to Customer
Needs</B></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0 0 12pt; text-align: justify">Historically, our RIP was delivered as a comprehensive,
standardized system. In 2024, we shifted towards a modular design approach, enabling customers to tailor RIP deployments to their specific
operational and regulatory requirements. This modularity allows for easier integration, reduced installation time, and optimized cost-efficiency,
as customers can now select only the Acquisition Modules (perspectives) they require. Whether a customer needs undercarriage railcar imaging
only or a full 360-degree all-around view, our new modular approach ensures that RIP solutions are adaptable to various industry needs.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0 0 12pt; text-align: justify">Moreover, this modularity is reflected in how
we promote and get paid for the RIP. Instead of a single, overarching software license, each Acquisition Module (formerly called a &#8220;perspective&#8221;)
is now licensed separately under an annual software subscription model. This shift allows customers to pay only for the specific modules
they require, making the system more flexible and scalable while increasing long-term revenue generation. Additionally, we have eliminated
licensing fees for &#34;Centraco&#34;, our system&#8217;s central UI, ensuring seamless adoption and usability across deployments. By
moving to a per-module software licensing model, we have created a more flexible, scalable revenue structure that aligns pricing with
value, while also enabling us to capture greater recurring revenue from customers as they expand their use of the system over time.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0 0 12pt; text-align: justify"><B>RIP-as-a-Service &#8211; A New Business
Model for Scalability</B></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0 0 12pt; text-align: justify">In 2024, we introduced RIP-as-a-Service, offering
a flexible deployment and pricing model that lowers the barrier to entry for shippers, manufacturers, short-line railroads, and other
industry stakeholders. RIP-as-a-Service leverages the existing infrastructure of our RIP systems that are already deployed on Class 1
customer railroads. This innovative Software-as-a-Service (SaaS) model goes beyond simply utilizing the hardware, by unlocking the wealth
of safety and mechanical condition data it generates.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0 0 12pt; text-align: justify">This data is invaluable to a wide range of
stakeholders in the rail industry. Railcar owners and operators can gain real-time insights into the health of their fleets, allowing
for proactive maintenance and reduced downtime. Shippers can track the condition of their cargo throughout its journey, ensuring safe
and timely delivery. Railcar manufacturers can identify potential design flaws or recurring issues through in-field data, improving future
models.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0 0 12pt; text-align: justify">In addition to enabling Duos Technologies to
approach a wider market, the RIP-as-a-Service offering aligns with the broader industry trend toward cloud-based and service-oriented
solutions, making our technology more accessible while ensuring long-term customer retention and recurring revenue growth.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0 0 12pt; text-align: justify"></P>

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<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0 0 12pt; text-align: justify"><B>Laser Illumination &#8211; Enhanced Visibility
&amp; Inspection Accuracy</B></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0 0 12pt; text-align: justify">One of the most significant technological advancements
in 2024 has been our near completion of Laser Illumination technology for railcar inspections. Traditional lighting methods presented
challenges in harsh environmental conditions, such as low-light environments, extreme weather, and high-speed rail traffic.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0 0 12pt; text-align: justify">By designing and integrating high-intensity,
precision laser illumination, we have improved image quality and clarity, ensuring high-resolution data capture even in adverse conditions.
In addition, we greatly enhanced system durability, as laser technology requires less maintenance and offers longer operational lifespans
compared to traditional lighting solutions. Finally, replacing LED-based lighting with laser field illumination is expected to result
in a 60-70% reduction in hardware cost, allowing for greater margins.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0 0 12pt; text-align: justify"><B>Advanced Notifications &#8211; Real-Time
Intelligence for Operators</B></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0 0 12pt; text-align: justify">In 2024, we enhanced our notification and alerting
system to deliver real-time actionable insights and alarms to rail operators and railcar maintenance teams. Leveraging AI-driven analytics
and deep integration with customer workflows, our Advanced Notifications feature real-time and close-to-real time alerts on critical railcar
defects, ensuring rapid response and minimized downtime. Utilizing the enhanced notification features along with the RIP&#8217;s comprehensive
API (Application Programming Interface), customers have the ability to integrate alerts and alarms with customer-owned and third party
systems. This capability is particularly useful for integrating with railroad dispatch systems which can be configured to allow critical
real-time alerts to be immediately sent to the locomotive operator.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0 0 12pt; text-align: justify"><B>AI-Powered Self-Diagnostics &#8211; Maximizing
System Uptime</B></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0 0 12pt; text-align: justify">One of the most groundbreaking advancements
in 2024 has been the development and deployment of AI-powered self-diagnostics across our RIP platforms. This new capability allows our
systems to monitor their own health in real time, detect anomalies, and allow support personnel to proactively address potential issues
before they escalate. With this newly developed technology, we are taking advantage of information we already acquire to help determine
if processes are running according to expectations and within pre-determined operational parameters. For example, several purpose-built
AI models are used to inspect a sampling of images from each train scan. These AI models collectively evaluate and analyze a number of
factors, such as camera operation, camera focus and quality of illuminations. The system then generates a report back to the NOC (Network
Operations Center) alerting operators to current system conditions.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0 0 12pt; text-align: justify">Because the analysis is being performed after
each and every train scan, the information is always timely and up to date. Moreover, the comprehensive and detailed content of the information
significantly decreases the time spent manually troubleshooting abnormal system conditions, allowing personnel to more quickly take action
to address the situation, often times before the customer is aware of the issue.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0 0 12pt; text-align: justify">More than traditional remote diagnostics capabilities,
AI-driven self-diagnostics enables our customers to experience greater system reliability and enhanced operational efficiency, while potentially
decreasing the overall workload and effort for our support personnel.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify">&#160;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify"><IMG SRC="image_003.jpg" ALT="A logo with blue text&#10;&#10;AI-generated content may be incorrect." STYLE="height: 57px; width: 87px"></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify">&#160;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0 0 12pt; text-align: justify">Duos Edge&#8217;s mission is to bring advanced
technology to underserved communities, particularly in education, healthcare, and rural industries, by deploying high-powered edge computing
solutions that minimize latency and optimize performance. Duos Edge specializes in high-function Edge Data Center (&#8220;EDC&#8221;)
solutions tailored to meet evolving needs in any environment. By focusing on providing scalable IT resources that seamlessly integrate
with existing infrastructure, its solutions expand capabilities at the network edge, ensuring data uptime onsite services. With the ability
to provide 100 kW+ per cabinet, rapid 90-day deployment, and continuous 24/7 data services, Duos Edge aims to position its edge data centers
within 12 miles of end users or devices, significantly closer than traditional data centers. This approach enables timely processing of
massive amounts of data for applications requiring real-time response and supporting current and future technologies without large capital
investments.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify">&#160;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0 0 12pt; text-align: justify"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif"></FONT></P>

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<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0 0 12pt; text-align: justify"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif"><IMG SRC="image_004.jpg" ALT="" STYLE="height: 22px; width: 121px"></FONT></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0 0 12pt; text-align: justify">Duos Energy plans to build, own and operate
efficient and environmentally friendly U.S. energy projects to support Edge Data Centers and industries where power grid capacity is struggling
to keep up with demand. Beyond data centers, Duos Energy&#8217;s offerings extend to industrial clients in sectors such as manufacturing,
oil and gas, mining, and microgrids. The Company&#8217;s rapid response power plants are designed to meet urgent demands, particularly
in emergency scenarios, underscoring its commitment to providing reliable and flexible energy solutions.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0 0 12pt; text-align: justify"><B>New APR Energy</B></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0 0 12pt; text-align: justify">New APR, as of December 31, 2024, owns 850
Mega Watts of power generation assets in the form of 30 mobile gas-powered turbine generators and related equipment to construct power
plants and operate the turbines that were acquired from Atlas Corp. and APR and its affiliates, along with certain trademarks, domain
names and contracts. New APR&#8217;s majority owner is FIG; Duos has a 5% non-voting equity interest in New APR&#8217;s ultimate parent.
Duos&#8217; equity interest has an initial value of approximately $7.2 million. The transaction closed on December 31, 2024. In connection
with the transaction, and the deployment and management of New APR&#8217;s generation assets, Duos negotiated the AMA that became effective
on January 1, 2025. The AMA is expected to be in place for 24 months and is expected to generate $42 million in revenue for Duos during
that period. The AMA also has provisions for extensions. There are significant synergies between Duos and New APR, particularly in the
areas of Data Center power generation and related business development.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0 0 12pt; text-align: justify"><B>Markets</B></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0 0 12pt; text-align: justify"><I>Market Expansion</I></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0 0 12pt; text-align: justify">In 2024, the Company set in place a strategy,
in concert with the Board of Directors, to expand its target markets beyond the provision of scanning technology for moving vehicles.
The decision was taken to facilitate a faster growth path to profitability and positive free cash flow. After careful consideration, it
was determined that the overall response to the Company&#8217;s offerings in the rail technology sector was overwhelmingly positive but
the market may take more years to fully adopt and the Company needed to factor the amount of capital that might be necessary to achieve
significant market penetration. It was therefore determined that the Company should use its existing technologies and highly skilled resources
to enter markets where the growth path was more defined. This approach fell into two distinct areas:</P>

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    <TD STYLE="text-align: justify">Adapt some of the technology and processes for high-speed, localized, data processing for the fast-growing demand in data centers to support AI and other compute intensive applications that were already in place for the RIP.</TD></TR>
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<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0">&#160;</P>

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    <TD STYLE="width: 24px">2.</TD>
    <TD STYLE="text-align: justify">Utilize the existing management, operations and engineering skills that were already in place in the Company to enter the fast growing market for &#8220;behind the meter&#8221; electrical power.</TD></TR>
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<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0">&#160;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0 0 12pt; text-align: justify">This approach was formally adopted by the Company
in May 2024, and led to the formation of two new subsidiaries; Duos Edge AI (&#8220;Duos Edge&#8221;) and Duos Energy Corporation (&#8220;Duos
Energy&#8221;). By the end of 2024, both subsidiaries were operating and in position to secure additional revenue streams starting in
2025.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0 0 12pt; text-align: justify"><I>Edge Computing</I></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0 0 12pt; text-align: justify">The market for edge data centers is experiencing
significant growth both in the United States and internationally, driven by the increasing demand for faster data processing, lower latency,
and support for emerging technologies like 5G, IoT, and AI. Although not an explicit market target for Duos in the past, in fact, the
Company has wide ranging and extensive experience in the provision of Edge Computing through its RIPs of which 13 are in operation across
North America today with two more under construction on the Northeast US rail corridor. Each of these RIPs has a full edge data center
provisioned complete with the infrastructure (racks, air handling and conditioning, electrical power and security) capable of providing
the high-speed information processing &#8220;at the edge&#8221;, necessary to provide the Duos customers access to the data in under 60
seconds, something that would not be possible by operating via the cloud into a more traditional data center.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0 0 12pt; text-align: justify">Duos is taking advantage of its many years
of operational experience to expand its offerings into key markets requiring localized, high-speed processing.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0 0 12pt; text-align: justify">United States Market</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0 0 12pt; text-align: justify">The edge data center market in the United States
is projected to grow substantially, according to Grand View Research. In 2023, the market generated revenues of approximately $2.56 billion
and is expected to reach around $8.34 billion by 2030, with a compound annual growth rate (CAGR) of 18.4% from 2024 to 2030. This growth
is fueled by the need for localized data processing to support applications in IT and telecom, BFSI (banking, financial services, and
insurance), healthcare, manufacturing, and other sectors. Specifically, Duos is initially focused on partnering with rural communities
(Tier 3 and 4 markets) and provisioning Edge Data Centers in these markets for access by both the local governments and distributed processing
requirements for commercial clients who are expected to rent space within Duos Edge data centers. Duos ended 2024 with six Edge data centers
that were in the process of being installed and prepared for operations.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0 0 12pt; text-align: justify"></P>

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<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0 0 12pt; text-align: justify">International Market</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0 0 12pt; text-align: justify">There are currently no plans to expand Duos
Edge internationally but the Company will look at opportunities if and as they arise. Globally, the edge data center market was valued
at $9.30 billion in 2022 and is expected to grow to $41.60 billion by 2030, exhibiting a CAGR of 20.9% during the forecast period according
to Fortune Magazine &#8220;Insights&#8221;. Key regions driving this growth include North America outside of the US, Europe, Asia-Pacific,
Latin America, and the Middle East &amp; Africa. The market is particularly strong in countries like China, Japan, Germany, and Canada.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0 0 12pt; text-align: justify">Key Drivers and Trends</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0 0 12pt; text-align: justify">The following factors are the key drivers behind
the anticipated growth in this market including:</P>

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    <TD STYLE="text-align: justify">5G and IoT Proliferation: The rollout of 5G networks and the expansion of IoT devices are major drivers, as they require edge data centers to handle the increased data traffic and provide low-latency processing.</TD></TR>
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<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0">&#160;</P>

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    <TD STYLE="text-align: justify">AI and Machine Learning: The integration of AI and machine learning technologies is expected to further boost the demand for edge data centers, as these applications often require real-time data processing.</TD></TR>
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<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0">&#160;</P>

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    <TD STYLE="text-align: justify">E-commerce and OTT Services: The growth of e-commerce platforms and over-the-top (OTT) streaming services is also contributing to the demand for edge data centers to ensure faster content delivery and improved user experiences.</TD></TR>
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<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0">&#160;</P>

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<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0">&#160;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0 0 12pt; text-align: justify">Despite the promising growth, the market faces
challenges such as high initial investment costs, data security concerns, and the need for skilled professionals to manage and maintain
edge data centers. Duos believes that it addresses each of these areas, giving it advantages in the deployment and provisioning of Edge
Data Centers. For example, due to the long-term nature of financial engagements for leasing rack space, Duos has been successful in attracting
initial funding for its first six edge data centers and expects to be successful in attracting additional capital for expansion. In addition,
the Company&#8217;s long experience in providing this functionality as part of a RIP leads management to believe that it has the ability
to address the other challenges and serve as a key differentiator against other competitors.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0 0 12pt; text-align: justify">Overall, the edge data center market is poised
for robust growth, driven by technological advancements and the increasing need for efficient data processing closer to end-users.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0 0 12pt; text-align: justify"><I>Electrical Power Provision</I></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0 0 12pt; text-align: justify">The market for &#34;behind the meter&#34;
(BTM) electrical power solutions is growing rapidly, especially for data centers and other energy-intensive operations. BTM systems allow
facilities to generate their own power on-site or near-site, reducing reliance on the grid and enhancing energy resilience. Although Duos
does not directly own power generation facilities, its management and a considerable number of its staff have wide ranging experience
in deploying this type of solution in a rapid manner where collectively, the staff has installed and operated over 30 different installations
in the past 10 years. In addition, the AMA has significantly advanced Duos&#8217; shareholder value. This increase in value is expected
to be accomplished in the next several years by the following Key Drivers:</P>

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    <TD STYLE="text-align: justify">Rising Energy Demands: Data centers are experiencing soaring energy demand due to the increasing use of AI, cloud services, and IoT.</TD></TR>
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<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0">&#160;</P>

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    <TD STYLE="text-align: justify">Grid Challenges: Obtaining sufficient power from the grid can be challenging due to lengthy interconnection processes and infrastructure limitations.</TD></TR>
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<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0">&#160;</P>

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    <TD STYLE="text-align: justify">Sustainability Goals: There is a strong push towards renewable energy sources to meet sustainability targets. Duos key personnel are able to integrate renewable energy sources with thermal solutions where natural gas is the cleanest source of thermal energy for the current time.</TD></TR>
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<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify">&#160;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0 0 12pt; text-align: justify">There are a number of key benefits for the
use of BTM solutions:</P>

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    <TD STYLE="text-align: justify">Cost Savings: By generating power on-site, data centers can reduce energy costs and avoid peak demand charges.</TD></TR>
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<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0">&#160;</P>

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    <TD STYLE="text-align: justify">Faster startup for new operations where new installations are delayed by years due to lack of available grid power.</TD></TR>
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<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0">&#160;</P>

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    <TD STYLE="text-align: justify">Flexibility allowing the deployment to certain regions where the costs of operations may be lower.</TD></TR>
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<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0">&#160;</P>

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    <TD STYLE="text-align: justify">Resilience in that BTM systems provide a reliable power supply, crucial for operations that require high availability.</TD></TR>
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<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0">&#160;</P>

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    <TD STYLE="text-align: justify">Environmental Impact using the ability to utilize renewable energy sources like solar or wind in conjunction with thermal operations.</TD></TR>
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<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0">&#160;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0 0 12pt; text-align: justify"></P>

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<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0 0 12pt; text-align: justify">Market Outlook</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0 0 12pt; text-align: justify">According to datacenterknowledge.com and powermag.com,
all of the drivers and benefits cited above will drive the BTM energy market growth over the next several years. The market is expected
to grow as more data centers and other facilities adopt these solutions to meet their energy needs sustainably and efficiently. This trend
is driven by the need for reliable power, cost efficiency, and environmental responsibility.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0 0 12pt; text-align: justify"><I>In-motion Vehicle Inspection</I></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0 0 12pt; text-align: justify">We believe the opportunity for our RIP business
is substantial and continues to be a priority along with our investments and activities in the new markets recently entered. We are currently
engaged with the RIP solution with three of seven Class 1 railroad operators with 13 systems already deployed across the North American
rail network. Because of our early leadership position, we have been able to accumulate experience and intellectual property that we believe
would be time-consuming and expensive for a new competitor to replicate. In particular, we have expanded our IP portfolio by the addition
of 3 new patents in 2024 alone, with the total number of patents now at 11. Furthermore, we believe we have the ability to upgrade and
scale our solutions with additional technologies in the future. We believe that the current market for our technologies is substantial.
At the same time, we recognize that the technology life cycle is fast and evolving. Potential competitors are moving into this sector,
and some Class 1 railroads are developing their own solutions that could limit our total addressable market.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0 0 12pt; text-align: justify">In late 2022, the Company announced it will
pursue a subscription platform for the RIPs and in 2024, the Company entered a long-term agreement with CN Railways for the management
of seven Duos RIPs owned by them in exchange for full data access to be used for marketing subscription data to approximately 3,000 railcar
owners and lessors. Under this new model, the Company may also build, own and operate its RIP product and offer the data access for each
portal to potential customers. This expansion of the RIP offering would potentially open up the addressable market to other potential
users of the data or even the provision of customized solutions for industrial owners of railcar operations such as the petrochemical
industry. While this shift could increase the pool of potential customers by lowering the entry point for the RIP and potentially reshape
the Company&#8217;s working capital needs to invest in the construction of a RIP ahead of customer revenue inflows, the Company is still
evaluating the potential market for this offering. The Company continues to explore this expansion on the long-term effects it may have
on future cash flows, and remains in discussions with a number of potential customers.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0 0 12pt; text-align: justify">Another market we continue to explore is using
our technologies for the scanning and management of other moving vehicles including trucks, buses and potentially aircraft. Potential
customers include commercial retail logistics and intermodal operators, Class 1 rail intermodal operators that are moving large amounts
of automobiles, and U.S. Government agencies such as the Department of Defense and the Department of Homeland Security. Although we have
previously identified over 900 lanes of traffic within nearly 300 facilities as potential business opportunities in the near-term, we
are not actively pursuing this at this time, but rather deploying our resources to the new markets described above. We continue limited
R&amp;D operations in these areas however and have filed a number of patents for consideration.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0 0 12pt; text-align: justify"><B>Patents and Trademarks</B></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0 0 12pt; text-align: justify">The Company owns a number of patents and trademarks
for our technology solutions. We protect our intellectual property rights by relying on federal, state, and common law rights, as well
as contractual restrictions. We control access to our proprietary technology by entering into confidentiality and invention assignment
agreements with all of our employees and contractors, and confidentiality agreements with third parties. We also actively engage in monitoring
activities with respect to infringing uses of our intellectual property by third parties.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0 0 12pt; text-align: justify"><B>Specific Areas of Competition</B></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0 0 12pt; text-align: justify">One of our primary commercial goals is to develop
innovative technology solutions and target potential &#8220;greenfield&#8221; market spaces in order to maximize our business footprint
and give us the ability to help define the market parameters for the future. More recently, we have expanded our operations into two additional
markets as described previously. We now operate in three distinct markets, in some cases using related technologies from our different
solutions. For example, the Duos Edge installs and operates Edge data centers that are similar to the RIP Edge Data Centers. Some power
solutions will be related to fast or temporary power provided for our RIPs or EDCs. Nonetheless, competitors are unique to each market
and are described below as they relate to those market segments.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0 0 12pt; text-align: justify"></P>

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<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0 0 12pt; text-align: justify"><I>Duostech Railcar Inspection Portal</I></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0 0 12pt; text-align: justify">Companies that participate in the visual and
optical (laser) based railcar inspection systems market include Wabtec (Beena Vision), Ensco (KLD Labs), WID, IEM, and Camlin Rail. Some
Class 1 railroads have stated that they are developing &#8220;in-house&#8221; solutions. We believe that Duos has a significant competitive
advantage in that we have multiple years of deployment experience, have access to millions of images where our RIP has performed scans
with AI analysis and in-house industry expertise to train our systems and make identification of common problems more automated. We believe
that some of the Class 1 railroads are deploying platforms for the development of AI algorithms, specifically with Cogniac which could
be construed as competitive with Duos developed Algorithms. In evaluating the performance of these algorithms and based on reports from
our customers, we believe they are having limited success with these self-developed algorithms. While we expect to cooperate with our
customers as necessary, we will reserve the right to refuse such cooperation where we believe that a particular vendor or technology supplier
may be violating our intellectual property. At this time we are investigating at least three such potential conflicts and have notified
each party of potential infringements.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0 0 12pt; text-align: justify">While we have indicated previously that our
Automated Logistics Information System (ALIS) also represents an opportunity to expand into a mature market that we believe has a significant
technology gap we are not aggressively pursuing this market at the present time.&#160; While most facilities, such as distribution centers,
that process commercial trucks in and out have sophisticated software management applications for logistics control, they have most often
not implemented an advanced gatehouse automation solution. Historically, this category was referred to as &#8220;Automated Gate Systems&#8221;
or AGS.&#160; The purpose of AGS technology is to streamline entry in and exit out of facilities.&#160; The marketplace for this was mostly
seaports and intermodal transfer facilities and was relatively expensive technology to deploy.&#160;We will continue to review opportunities
in this market if they arise.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0 0 12pt; text-align: justify"><I>Duos Edge AI Datacenters</I></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0 0 12pt; text-align: justify">The edge data center market is highly competitive,
and according to datamation, encora advisors and Polaris market research there are several key players leading the industry. The following
companies are acknowledged to be participants in this market:</P>

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<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0">&#160;</P>

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    <TD STYLE="text-align: justify"><B>EdgeConneX</B> specializes in providing customizable and scalable edge data centers, focusing on reducing latency and improving data processing speed.</TD></TR>
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<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0">&#160;</P>

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    <TD STYLE="width: 24px">&#160;</TD>
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    <TD STYLE="text-align: justify"><B>Cloudflare</B> offers edge computing solutions that enhance connectivity and performance, particularly for web applications and content delivery.</TD></TR>
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<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0">&#160;</P>

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    <TD STYLE="width: 24px">&#160;</TD>
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<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0">&#160;</P>

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<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0">&#160;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0 0 12pt; text-align: justify">Each of these companies is considered to be
at the forefront of the edge data center market, driving innovation and meeting the growing demand for low-latency, high-performance data
processing.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0 0 12pt; text-align: justify">Duos Edge AI is a recent entrant to the market
although it has been engaged in the provision of high-performance local processing for more than 10 years through the provision of EDCs
connected with its RIP technology. Duos Edge AI differs from the competitors above in the following ways:</P>

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  <TR STYLE="vertical-align: top">
    <TD STYLE="width: 24px">&#160;</TD>
    <TD STYLE="width: 24px">1.</TD>
    <TD STYLE="text-align: justify">Focus on certain markets (rural, local government and industry also known as &#8220;Tier 3 and 4 markets&#8221;).</TD></TR>
  </TABLE>
<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0">&#160;</P>

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  <TR STYLE="vertical-align: top">
    <TD STYLE="width: 24px">&#160;</TD>
    <TD STYLE="width: 24px">2.</TD>
    <TD STYLE="text-align: justify">Specialization via adaptive, versatile, and streamlined edge data center solutions tailored to meet evolving needs in various environments.</TD></TR>
  </TABLE>
<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0">&#160;</P>

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  <TR STYLE="vertical-align: top">
    <TD STYLE="width: 24px">&#160;</TD>
    <TD STYLE="width: 24px">3.</TD>
    <TD STYLE="text-align: justify">Partnerships by working with industry participants. For example, it recently partnered with Accu-Tech to accelerate the deployment of edge computing infrastructure across the U.S., targeting underserved markets such as regional school districts in largely rural states such as Texas.</TD></TR>
  </TABLE>
<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0">&#160;</P>

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  <TR STYLE="vertical-align: top">
    <TD STYLE="width: 24px">&#160;</TD>
    <TD STYLE="width: 24px">4.</TD>
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  </TABLE>
<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0">&#160;</P>

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  <TR STYLE="vertical-align: top">
    <TD STYLE="width: 24px">&#160;</TD>
    <TD STYLE="width: 24px">5.</TD>
    <TD STYLE="text-align: justify">Management expertise where the leader of that business is a 30-year industry veteran with extensive connections to large industry players and backed by extensive operational experience through the Duos operations team.</TD></TR>
  </TABLE>
<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0">&#160;</P>

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  <TR STYLE="vertical-align: top">
    <TD STYLE="width: 24px">&#160;</TD>
    <TD STYLE="width: 24px">6.</TD>
    <TD STYLE="text-align: justify">Access to significant inventory of mobile power solutions for backup or even primary power.</TD></TR>
  </TABLE>
<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify">&#160;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0 0 12pt; text-align: justify"><I>Duos Energy Corp Services</I></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0 0 12pt; text-align: justify">Duos Energy Corporation primarily services
the AMA and as such does not have direct competitors. Duos Energy started operations in late 2024 and is expected to be extensively engaged
in support operations for New APR in 2025 and 2026 in conjunction with the AMA. New APR shares some management and operational personnel
with Duos and is engaged in commercial activities to quickly deploy available power assets.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0 0 12pt; text-align: justify"></P>

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<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0 0 12pt; text-align: justify">The availability of these assets is a significant
competitive advantage to Duos Edge AI in its growth of the data center business and related opportunities. While competition exists in
these markets, the current high demand for power and lack of available assets puts APR Energy and (indirectly) Duos in a significant position
of competitive advantage.&#160;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0 0 12pt; text-align: justify"><B>Our Growth Strategy</B></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0 0 12pt; text-align: justify"><B>Vision</B></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0 0 12pt; text-align: justify">The Company designs, develops, deploys and
operates in three distinct but related market segments and deploys intelligent technology solutions in support of the fast growing demand
for efficient data centers, power solutions for immediate implementation of those data centers where grid power is not immediately available
as well as for its original product set for inspecting and evaluating moving objects. The technology application focus has expanded beyond
the traditional rail and intermodal markets and into the world of high-speed data access, low latency communications as well as offering
imaging-based automatic inspection and analysis for process.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0 0 12pt; text-align: justify"><B>Objectives</B></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0 0 12pt; text-align: justify">The Company has set itself the following objectives
to support this vision:</P>

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  <TR STYLE="vertical-align: top">
    <TD STYLE="width: 24px">&#160;</TD>
    <TD STYLE="width: 24px">&#8226;</TD>
    <TD STYLE="text-align: justify">Significantly grow our revenue for 2025 and beyond by engaging in additional markets for data center deployment and associated power delivery.</TD></TR>
  </TABLE>
<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0">&#160;</P>

<TABLE CELLSPACING="0" CELLPADDING="0" STYLE="font: 10pt Times New Roman, Times, Serif; width: 100%; border-collapse: collapse">
  <TR STYLE="vertical-align: top">
    <TD STYLE="width: 24px">&#160;</TD>
    <TD STYLE="width: 24px">&#8226;</TD>
    <TD STYLE="text-align: justify">Achieve breakeven and profitability in 2025 by rationalizing our operating costs over a larger revenue base.</TD></TR>
  </TABLE>
<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify"><B><I>&#160;</I></B>&#160;</P>

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  <TR STYLE="vertical-align: top">
    <TD STYLE="width: 24px">&#160;</TD>
    <TD STYLE="width: 24px">&#8226;</TD>
    <TD STYLE="text-align: justify">Form strategic partnerships that improve market access and credibility.</TD></TR>
  </TABLE>
<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0">&#160;</P>

<TABLE CELLSPACING="0" CELLPADDING="0" STYLE="font: 10pt Times New Roman, Times, Serif; width: 100%; border-collapse: collapse">
  <TR STYLE="vertical-align: top">
    <TD STYLE="width: 24px">&#160;</TD>
    <TD STYLE="width: 24px">&#8226;</TD>
    <TD STYLE="text-align: justify">Improve policy, processes, and toolsets to become a viable platform for internal growth and for mergers and acquisitions.</TD></TR>
  </TABLE>
<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0">&#160;</P>

<TABLE CELLSPACING="0" CELLPADDING="0" STYLE="font: 10pt Times New Roman, Times, Serif; width: 100%; border-collapse: collapse">
  <TR STYLE="vertical-align: top">
    <TD STYLE="width: 24px">&#160;</TD>
    <TD STYLE="width: 24px">&#8226;</TD>
    <TD STYLE="text-align: justify">Thoughtfully execute mergers and acquisitions to expand offerings and/or capabilities.</TD></TR>
  </TABLE>
<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0">&#160;</P>

<TABLE CELLSPACING="0" CELLPADDING="0" STYLE="font: 10pt Times New Roman, Times, Serif; width: 100%; border-collapse: collapse">
  <TR STYLE="vertical-align: top">
    <TD STYLE="width: 24px">&#160;</TD>
    <TD STYLE="width: 24px">&#8226;</TD>
    <TD STYLE="text-align: justify">Promote a performance-based workforce where employees enjoy their work and are incentivized to excel and innovate.</TD></TR>
  </TABLE>
<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0">&#160;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0 0 12pt; text-align: justify"><B><I>Organic Growth</I></B></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0 0 12pt; text-align: justify">Our organic growth strategy is to generate
significant new business for the Company directly through its new subsidiaries and indirectly through its AMA. We will continue our focus
and prioritization in the rail, logistics and intermodal market space but intend to drive efficiencies in the personnel resources allocated
to that line of business through utilization of key staff in other areas. In this regard, the Company has made significant changes in
the senior management team to include a new divisional President, who joined the Company in July 2024 as the senior leader of our new
subsidiary Duos Edge AI and has more than 30 years of experience successfully leading start-up ventures in the data center industry. In
addition, the appointment of our CEO as the Executive Chairman and CEO of New APR brings Duos leadership to that organization. The team
also saw a change in CFO in Q2 2024 with the return of our former CFO as a highly experienced senior public company executive to assist
the CEO with transforming the Company going forward. Finally, late in 2024, a new Chief Operating Officer was appointed with leadership
skills that span operational environments including the new power industry target for the asset management agreement.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0 0 12pt; text-align: justify">In addition to the CEO&#8217;s joint role,
the new divisional President will serve in a joint role as Chief Commercial Officer at New APR and the newly appointed COO and General
Counsel will also serve in joint roles for Duos and New APR. The joint leadership team&#8217;s focus is to oversee operational and technical
execution which will in turn enable the commercial side of the business to expand the Company&#8217;s business into new markets and customers.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0 0 12pt; text-align: justify"><B><I>Manufacturing and Assembly</I></B></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0 0 12pt; text-align: justify">The Company designs and develops technology
solutions using a combination of in-house fabrication, commercial off-the-shelf technology, and outsourced manufacturing. This methodology
will continue and be applied to our new subsidiaries where on-site installations are performed using a combination of in-house project
managers and engineers and using third-party sub-contractors as needed. Throughout the process of design, develop, deploy and operate,
the Company maintains responsibility for all aspects. Our internal manufacturing operations consist primarily of materials procurement,
assembly, testing and quality control by our engineers. If not manufactured internally, we use third-party manufacturing partners to produce
our hardware related components and hardware products and we most often complete final assembly, testing and quality control processes
for these components and products. Our manufacturing processes are based on standardization of components across product types, centralization
of assembly and distribution centers, and a &#8220;build-to-order&#8221; methodology in which products generally are built only after
customers have placed firm orders. For most of our hardware products, we have existing alternate sources of supply.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0 0 12pt; text-align: justify"></P>

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<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0 0 12pt; text-align: justify">In the rail industry, the time from concept
to contract can be substantial but is offset by an anticipated faster time to market in both the data center and power industries due
to high expected demand for our offerings. Although we are now adapting to these new markets, previous bids that have been submitted in
the rail industry could be challenging to execute within the financial framework and execution times originally envisaged due to significant
delays by one of our major customers. We continue to have dialogue with that customer regarding potential price increases and implementation
delays, but we may suffer some economic impacts because of this. Revenue recognition could be delayed as a result of these factors and
profitability could be impacted due to higher costs for materials and other services in that specific subsidiary. The Company will continue
to monitor the situation and update shareholders as the project progresses.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0 0 12pt; text-align: justify"><B><I>Research and Development</I></B></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0 0 12pt; text-align: justify">The Company&#8217;s R&amp;D and software development
teams design and develop all systems and software applications with a combination of full-time in-house software engineers and outside
contractors, although the use of outside contractors was substantially reduced in 2024. Internal development allows us to maintain technical
control over the design and development of our products. Rapid technological advances in hardware and software development, evolving standards
in computer hardware and software technology, and changing customer requirements characterize the markets in which we compete. We plan
to continue to dedicate resources to research and development efforts, including software development, to maintain and improve our current
product and services offerings. We have been successful in obtaining key patents for some of these developments.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0 0 12pt; text-align: justify"><B><I>Government Regulations</I></B></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0 0 12pt; text-align: justify">The Company has worked with various agencies
of the federal government for more than 10 years including the Department of Homeland Security (&#8220;DHS&#8221;). When our solutions
have been deployed into these agencies, they meet specific requirements for certification, safety and security that are stipulated in
requirements and contract documents. The Company is currently competing for other government related work and strictly follows the rules
and regulations outlined in the Federal Acquisition Regulations.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0 0 12pt; text-align: justify">The Company&#8217;s rail customers are all
governed by regulations related to the safe and effective transportation of goods and passengers, primarily by rail, but in future scenarios
by air, road and sea. While changes in the regulatory environment could impact the Company in future years, we believe any changes will
be generally positive for the Company. We continuously review potential changes in the regulatory environment and maintain contact with
key personnel at certain agencies including the Federal Railroad Administration (FRA), the Transportation Security Administration (TSA)
as well as the DHS previously mentioned. We expect to develop similar relationships with governmental agencies in target markets both
in the US and internationally. At this time, we believe our offerings are complementary to the current and evolving standards and that
we will adapt to any new regulations as they are promulgated.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0 0 12pt; text-align: justify">We also work closely with state and local governments,
particularly in the provision of Edge Data Centers to make sure that we comply with local zoning ordinances and other regulatory requirements.
Additionally, we comply with all necessary requirements as they might relate to our power business including emissions. In certain cases,
we have provisioned for the addition of additional exhaust gas emissions cleaning technologies, although the cost of this will be borne
by New APR Energy.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0 0 12pt; text-align: justify"><B>Employees</B></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0 0 12pt; text-align: justify">We have a current staff of 100 employees, of
which 93 are full-time, the majority of which work in the Jacksonville area, none of which are subject to a collective bargaining agreement.
We have not experienced any work stoppages and we consider our relationship with our employees to be good.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0 0 12pt; text-align: justify"><B>Properties.</B></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0 0 12pt; text-align: justify">On July 26, 2021, the Company entered a new
operating lease agreement of office and warehouse combination space of 40,000 square feet with the lease commencing on November 1, 2021
and ending May 31, 2032, This additional space allows for resource growth and engineering efforts for operations before deploying to the
field. The rent for the first twelve months of the term were calculated as rentable base space on 30,000 square feet. The rent is subject
to an annual escalation of 2.5%, beginning December 1, 2022. The Company made a security deposit payment in the amount of $600,000 on
July 26, 2021. Per the contract, in the 18<SUP>th</SUP> and every 12<SUP>th</SUP> month thereafter, the security deposit is reduced by
$50,000. The Company has applied the FASB issued ASU No. 2016-02 Leases (Topic 842) (&#8220;ASU 2016-02&#8221;) in the fourth quarter
of 2021.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0 0 12pt; text-align: justify">The Company now has a total of office and warehouse
space of 40,000 square feet.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0 0 12pt; text-align: justify">Rental expense for the office lease during
2024 and 2023 was $781,638 and $781,638, respectively.<FONT STYLE="font-size: 12pt">&#160;</FONT></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0 0 12pt; text-align: justify"><B>Legal Proceedings.</B></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0 0 12pt; text-align: justify">From time to time, we may be involved in litigation
relating to claims arising out of our operations in the normal course of business. We are currently not involved in any litigation that
we believe could have a material adverse effect on our financial condition or results of operations. There is no action, suit, proceeding,
inquiry or investigation before or by any court, public board, government agency, self-regulatory organization or body pending or, to
the knowledge of the executive officers of our Company or any of our subsidiaries, threatened against or affecting our Company, our common
stock, any of our subsidiaries or any of our Company&#8217;s or our subsidiaries&#8217; officers or directors in their capacities as such,
in which an adverse decision could have a material adverse effect.<FONT STYLE="font-size: 12pt">&#160;</FONT></P>


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<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0"><FONT STYLE="text-transform: uppercase"><B>&#160;</B></FONT></P>

<P STYLE="font: bold 10pt Times New Roman, Times, Serif; margin: 0 0 12pt; text-transform: uppercase; text-align: center"><FONT ID="a_0013"></FONT>Directors, Executive
Officers and Corporate Governance</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0 0 12pt; text-align: justify">The following is a list of our executive officers
and directors. All directors serve one-year terms or until their successors are duly qualified and elected or his earlier resignation,
removal or disqualification. The officers of the Company are elected by the Board.</P>

<TABLE CELLSPACING="0" CELLPADDING="0" STYLE="font: 10pt Times New Roman, Times, Serif; width: 100%; border-collapse: collapse">
  <TR>
    <TD STYLE="border-bottom: black 1pt solid; width: 45%; text-align: justify"><FONT STYLE="font-size: 8pt"><B>Name</B></FONT></TD>
    <TD STYLE="width: 1%; text-align: justify">&#160;</TD>
    <TD STYLE="border-bottom: black 1pt solid; width: 10%; text-align: center"><FONT STYLE="font-size: 8pt"><B>Age</B></FONT></TD>
    <TD STYLE="width: 1%; text-align: justify">&#160;</TD>
    <TD STYLE="border-bottom: black 1pt solid; width: 43%; text-align: justify"><FONT STYLE="font-size: 8pt"><B>Position</B></FONT></TD></TR>
  <TR STYLE="vertical-align: bottom; background-color: #CCEEFF">
    <TD STYLE="text-align: justify">Charles P. Ferry</TD>
    <TD STYLE="text-align: justify">&#160;</TD>
    <TD STYLE="text-align: center">58</TD>
    <TD STYLE="text-align: justify">&#160;</TD>
    <TD STYLE="text-align: justify">Chief Executive Officer, Director</TD></TR>
  <TR STYLE="vertical-align: bottom; background-color: white">
    <TD STYLE="text-align: justify">Adrian G. Goldfarb</TD>
    <TD STYLE="text-align: justify">&#160;</TD>
    <TD STYLE="text-align: center">68</TD>
    <TD STYLE="text-align: justify">&#160;</TD>
    <TD STYLE="text-align: justify">Chief Financial Officer</TD></TR>
  <TR STYLE="vertical-align: bottom; background-color: #CCEEFF">
    <TD STYLE="text-align: justify">Christopher T. King</TD>
    <TD STYLE="text-align: justify">&#160;</TD>
    <TD STYLE="text-align: center">44</TD>
    <TD STYLE="text-align: justify">&#160;</TD>
    <TD STYLE="text-align: justify">Chief Operating Officer</TD></TR>
  <TR STYLE="vertical-align: bottom">
    <TD STYLE="text-align: justify">James Craig Nixon <SUP>(1)</SUP></TD>
    <TD STYLE="text-align: justify">&#160;</TD>
    <TD STYLE="text-align: center">64</TD>
    <TD STYLE="text-align: justify">&#160;</TD>
    <TD STYLE="text-align: justify">Chairman</TD></TR>
  <TR STYLE="vertical-align: bottom; background-color: #CAEDFB">
    <TD STYLE="text-align: justify">Frank Lonegro <SUP>(2)</SUP></TD>
    <TD>&#160;</TD>
    <TD STYLE="text-align: center">56</TD>
    <TD>&#160;</TD>
    <TD STYLE="text-align: justify">Director</TD></TR>
  <TR STYLE="vertical-align: bottom">
    <TD STYLE="text-align: justify">Ned Mavrommatis <SUP>(3)</SUP></TD>
    <TD STYLE="text-align: justify">&#160;</TD>
    <TD STYLE="text-align: center">54</TD>
    <TD STYLE="text-align: justify">&#160;</TD>
    <TD STYLE="text-align: justify">Director</TD></TR>
  </TABLE>
<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify">&#8212;&#8212;&#8212;&#8212;&#8212;&#8212;&#8212;</P>

<TABLE CELLSPACING="0" CELLPADDING="0" STYLE="font: 10pt Times New Roman, Times, Serif; width: 100%; border-collapse: collapse">
  <TR STYLE="vertical-align: top">
    <TD STYLE="width: 3%; text-align: justify">(1)&#160;&#160;&#160;</TD>
    <TD STYLE="width: 97%; text-align: justify">Chairman of our Board of Directors, Chairman of the Compensation Committee, member of the Audit Committee and the Corporate Governance and Nominating Committee.</TD></TR>
  <TR STYLE="vertical-align: top">
    <TD STYLE="text-align: justify">(2)</TD>
    <TD STYLE="text-align: justify">Independent Director and Member of the Audit Committee, Compensation Committee and Corporate Governance and Nominating Committee<FONT STYLE="font-family: Arial, Helvetica, Sans-Serif; font-size: 8pt">.</FONT></TD></TR>
  <TR STYLE="vertical-align: top">
    <TD STYLE="text-align: justify">(3)</TD>
    <TD STYLE="text-align: justify">Chairman of the Audit Committee, member of the Compensation Committee and Chairman of the Corporate Governance and Nominating Committee.</TD></TR>
  </TABLE>
<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify">&#160;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0 0 12pt; text-align: justify"><B>Charles P. Ferry, Chief Executive Officer,
Director</B></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0 0 12pt; text-align: justify">Mr. Ferry was appointed Chief Executive Officer,
effective September 1, 2020. Mr. Ferry was then elected as a member of our Board of Directors on November 19, 2020, by our shareholders.
Mr. Ferry combines over four years of experience in the energy industry and seven years in the defense contracting industry following
26 years of active-duty service in the United States Army. From 2018 through 2020, Mr. Ferry was the Chief Executive Officer for APR Energy,
a global fast-track power company. Prior to this, Mr. Ferry was the President and Chief Operating Officer of APR Energy from 2016 to 2018.
From 2014 to 2016, Mr. Ferry was the General Manager for ARMA Global Corporation, a wholly owned subsidiary of General Dynamics, a defense
contracting company that delivered Information Technology engineering, services, and logistics. Mr. Ferry was the Vice President of ARMA
Global Corporation from 2010 to 2014 before being acquired by General Dynamics. From 2009 to 2010, Mr. Ferry was the Director, Business
Development and Operations at Lockheed-Martin. His leadership assignments in the U.S. Army include: Director, NORAD-NORTHCOM Current Operations,
Infantry Battalion Task Force Commander, Joint Special Operations Task Force Commander, Regimental and Battalion Operations Officer, and
Airborne Rifle Company Commander. His military leadership assignments include 48 months of combat in Somalia, Afghanistan and Iraq. In
1993, as a Lieutenant in a Rifle Company during the Battle of Blackhawk Down, Somalia, he earned a Bronze Star Medal for Valor. In October
2001, as a Major in the 3rd Ranger Battalion, he participated in the initial parachute assault into Afghanistan and subsequently led numerous
special operations in Afghanistan and Iraq between 2002 and 2005. In 2007, while commanding a Rifle Battalion as a Lieutenant Colonel,
he earned the Silver Star Medal for valorous actions in Ramadi, Iraq.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0 0 12pt; text-align: justify">Mr. Ferry has an undergraduate degree from
Brigham Young University.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0 0 12pt; text-align: justify">Our Board of Directors believes Mr. Ferry brings
significant commercial and operational experience to the Company and has shown demonstrable leadership skills as both a Military officer
with a distinguished service record and in leading companies to profitable growth.&#160;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0 0 12pt; text-align: justify"><B>Adrian G. Goldfarb, Chief Financial Officer</B></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0 0 12pt; text-align: justify">Adrian Goldfarb was appointed Chief Financial
Officer of the Company on April 29, 2024. Mr. Goldfarb has a long experience with the Company. Most recently, he was Chief Financial Officer
of the Company through November 15, 2022. Since then, he was Strategic Advisor to the Company, reporting to Charles Ferry, our Chief Executive
Officer. He served as a Director from April 2010 to November 2020. Effective July 1, 2012, he was appointed as President and Chief Financial
Officer of Information Systems Associates, Inc., which merged with Duos Technologies, Inc. in April 2015 upon which he agreed to continue
serving the merged company, Duos Technologies Group, Inc., as Chief Financial Officer and Director. Mr. Goldfarb managed the Company&#8217;s
listing on the Nasdaq Capital Market in 2020. Prior to joining the Company, Mr. Goldfarb served as CFO for Ecosphere Technologies, overseeing
growth from $0 to $24 million and profitability. Mr. Goldfarb was also Managing Director of WSI Europe, a division of the Weather Channel
from 1998 until 2002. From 2002 to 2007, Mr. Goldfarb served as interim-CFO for MOWIS GmbH, a weather technology media start-up company
which was successfully sold to a large European media group. Mr. Goldfarb&#8217;s extensive business and financial experience includes
10 years at a subsidiary of Fujitsu where he served as Director of Operations for a new software venture. Mr. Goldfarb started his formal
career at IBM and was given responsibility for an account team focused on Latin America and Southeast Asia.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0 0 12pt; text-align: justify"></P>

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<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0 0 12pt; text-align: justify">Mr. Goldfarb also currently serves as non-Executive
Chairman of GelStat Corporation, a public company engaged in the development, marketing and support of technology for industrial security
applications. Mr. Goldfarb is a 40-year technology industry veteran including more than 30 years in information technology and 10 years
in the media and communications industry.&#160;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0 0 12pt; text-align: justify"><B>Christopher T. King, Chief Operating Officer</B></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0 0 12pt; text-align: justify">Effective January 1, 2025, the Company appointed
Christopher King as Chief Operating Officer. Mr. King was Chief Operating Officer of Duos Technologies, Inc., a subsidiary of the Company
(&#34;Duos&#34;), and had been employed by Duos since September 2023. He brings over 20 years of operational and commercial leadership
experience within the energy and supply chain sectors. Also effective January 1, 2025, Mr. King was appointed Chief Operating Officer
of New APR Energy, which is a wholly-owned portfolio company of Fortress Investment Corp. Prior to joining Duos, he served in a series
of progressive management roles within the former APR Energy, a global fast track power company. During Mr. King's time at the former
APR Energy, his responsibilities included: leading all power plant operations, which consisted of 16 sites around the world and over 500
employees; managing acquisition integrations of over $300 million in new projects; maintaining full P&amp;L accountability for all operations;
and building and heading up a team that closed over $1 billion in new revenue, asset sales, and contract extensions. Prior to his time
at the former APR Energy, Mr. King held several operational leadership roles at CEVA Logistics, including a role as Lean Six Sigma Leader
in charge of designing and executing continuous improvement projects for CEVA operations across the world.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0 0 12pt; text-align: justify">Mr. King holds a bachelor's degree in international
economics from the University of Florida, and a master's degree in International Business from the University of Florida.&#160;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0 0 12pt; text-align: justify"><B>Frank A. Lonegro, Director&#160;</B></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0 0 12pt; text-align: justify">Mr. Lonegro was elected to the Board of Directors
on July 19, 2023. Since February 2024, Mr. Lonegro has been President, Chief Executive Officer, and a Director of Landstar System, Inc.
(Nasdaq: LSTR), a Fortune 1000 technology-focused integrated transportation solutions and services provider based in Jacksonville, Florida.
Prior to joining Landstar, from 2020 to early 2024, Mr. Lonegro was the Executive Vice President and Chief Financial Officer of Beacon
Roofing Supply, Inc. (&#8220;Beacon&#8221;), a Fortune 500 NASDAQ-listed North American distribution company, specializing in residential
and commercial roofing products and complementary offerings such as siding and waterproofing. Prior to working at Beacon, Mr. Lonegro
worked for almost 20 years at CSX Corporation, a Fortune 500 NASDAQ-listed rail transportation company. During his tenure at CSX, Mr.
Lonegro served in a number of capacities, including Executive Vice President and Chief Financial Officer from 2015 to 2019, as well as
executive leadership roles in technology and operations earlier in his tenure, including President of CSX Technology, Vice President of
Service Design, and Vice President of Mechanical.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0 0 12pt; text-align: justify">Our Board of Directors believes that Mr. Lonegro&#8217;s
extensive experience in leadership roles across finance, law, technology, and operations, as well as his proven track record of driving
shareholder value and transforming organizations, makes him ideally suited to help lead the Company towards sustained growth and innovation.<B>&#160;</B>&#160;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0 0 12pt; text-align: justify"><B>Ned Mavrommatis, Director </B></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0 0 12pt; text-align: justify">Mr. Mavrommatis has served as the Chief Financial
Officer of Halo Collar since May 2022. The Halo Collar is the newest smart safety system for dogs. Co-founded by Cesar Millan, this patented
system utilizes proprietary technology &amp; dog psychology to provide a wireless smart fence, smart training, GPS tracker and activity
tracker combined into one easy-to-use smart collar. Prior to Halo Collar, Mr. Mavrommatis served as the Chief Financial Officer of PowerFleet,
Inc. (NASDAQ: PWFL) from October 2019 to May 2022 and I.D Systems, Inc. (NASDAQ: IDSY) from August 1999 to October 2019. Mr. Mavrommatis
started his career in public accounting.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0 0 12pt; text-align: justify">Our Board of Directors believes the Mr. Mavrommatis&#8217;
extensive background as a public company officer and CPA make him ideally suited to act as the Chairman of our Audit Committee.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0 0 12pt; text-align: justify"></P>

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<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0 0 12pt; text-align: justify"><B>James Craig Nixon, Chairman</B></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0 0 12pt; text-align: justify">Mr. Nixon joined our Board of Directors on
July 15, 2021 and was named Chairman on May 13, 2025. He serves as Chairman of the Compensation Committee and a member of the Audit and
Corporate Governance and Nominating Committees. Brigadier General Craig Nixon (Ret.) is a combat decorated, special operations soldier.
Over a 29-year Army career, Brigadier General Nixon served in a wide range of assignments including seven tours in special operations
units including assignments as the Commander, 75th Ranger Regiment and Director of Operations for Joint Special Operations Command (JSOC)
and US Special Operations Command. He is a combat decorated soldier whose awards include the Distinguished Service Medal, Silver Star,
three Bronze Stars, and the Purple Heart.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0 0 12pt; text-align: justify">After retiring from the Army in 2011, he was
an original Partner at McChrystal Group, helped create a highly successful leadership consulting company and led their engagements with
a number of technology focused Fortune 500 companies. In 2013 he became the Chief Executive Officer of ACADEMI and over three years through
a combination of organic growth and acquisitions built Constellis Group, a global leader in security and training with over 10,000 employees
in 30 countries. During his tenure Constellis tripled in revenue to over $1 billion annually and saw a fivefold increase in EBITDA. Mr.
Nixon is founder and Chief Executive Officer of Nixon Six Solutions from January 2016 until present, a consulting firm focusing on growth
and market entry strategy, leadership, and mergers &amp; acquisitions. He is on a number of government and technology boards and is also
a frequent speaker on geopolitics, leadership, and veterans&#8217; challenges.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0 0 12pt; text-align: justify">Brigadier General Nixon is a graduate of Auburn
University and has earned master&#8217;s degrees from the Command and Staff College and the Air War College. He is a decorated retired
General Officer, successful entrepreneur, and passionate supporter of veteran non-profit organizations. He was selected for the Ranger
Hall of Fame and Auburn University at Montgomery Top Fifty Alumni in 2017.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0 0 12pt; text-align: justify">Our Board of Directors believes that Mr. Nixon&#8217;s
extensive military and management experience and familiarity with technology industries make him ideally suited to help lead the Company
towards excellence in operations and strategic planning.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0 0 12pt; text-align: justify"><B><FONT STYLE="text-decoration: underline">Key Employees</FONT></B></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0 0 12pt; text-align: justify"><B>Jeff Necciai, Chief Technology Officer,
Operating Subsidiary Duos Technologies, Inc.</B></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0 0 12pt; text-align: justify">Mr. Necciai brings over 25 years of experience
in designing, developing, and delivering value-driven technology solutions across a wide range of industries to Duos. Prior to joining
Duos in January 2021, Jeff served as the Chief Technology Officer of NASCENT Technology, where he cultivated and led high-performing cross-functional
product teams to develop and deliver comprehensive gate automation solutions to rail and maritime terminal customers. Jeff was responsible
for the solution design and software architecture for many of the company's innovations, including an advanced OCR and imaging solution,
proprietary point-to-point VoIP technology, an automated work queue management system, a line of integrated &#8220;smart&#8221; outdoor
IP-based callboxes, and a comprehensive human-assisted security and surveillance platform. In 2001, Jeff co-founded and served as Lead
Systems Architect for Solution Dynamics, which developed remote digital video surveillance products for institutional customers. Jeff
is listed on several technology-based patents and has contributed articles for publications such as American Shipper, World Cargo News,
and the Journal of Commerce. Jeff holds a Bachelor of Science Degree in Business Administration from Clarion University of Pennsylvania.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0 0 12pt; text-align: justify"><B>Family Relationships</B></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0 0 12pt; text-align: justify">There are no family relationships among any
of our directors or executive officers.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0 0 12pt; text-align: justify"><B>Section 16(a) Beneficial Ownership Reporting
Compliance</B></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0 0 12pt; text-align: justify">Section 16(a) of the Exchange Act requires
the Company&#8217;s directors, executive officers and persons who beneficially own 10% or more of a class of securities registered under
Section 12 of the Exchange Act to file reports of beneficial ownership and changes in beneficial ownership with the SEC. Directors, executive
officers and greater than 10% shareholders are required by the rules and regulations of the SEC to furnish the Company with copies of
all reports filed by them in compliance with Section 16(a).</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0 0 12pt; text-align: justify">Based solely on our review of certain reports
filed with the SEC pursuant to Section 16(a) of the Exchange Act, the reports required to be filed with respect to transactions in our
Common Stock during the fiscal year ended December 31, 2024 were filed timely, except that Mr. Nixon reported three purchase transactions
late on one Form 4.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0 0 12pt; text-align: justify"><B>Code of Ethics</B></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0 0 12pt; text-align: justify">The Company has adopted a Code of Ethics for
adherence by its Chief Executive Officer and Chief Financial Officer, to ensure honest and ethical conduct, full, fair and proper disclosure
of financial information in the Company&#8217;s periodic reports filed pursuant to the Securities Exchange Act of 1934, and compliance
with applicable laws, rules, and regulations. Any person may obtain a copy of our Code of Ethics by mailing a request to the Company at
7660 Centurion Parkway, Suite 100, Jacksonville, Florida 33256.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0 0 12pt; text-align: justify"><B>Board Composition and Director Independence</B></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0 0 12pt; text-align: justify">Our board of directors currently consists of
four members: Mr. Charles P. Ferry, Mr. Ned Mavrommatis, Mr. James Craig Nixon and Mr. Frank A. Lonegro. The directors will serve until
the election of the nominees for director at the Annual Meeting and until their successors are duly elected and qualified. The Company
defines &#8220;independent&#8221; as that term is defined in Rule 5605(a)(2) of the NASDAQ listing standards.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0 0 12pt; text-align: justify"></P>

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<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0 0 12pt; text-align: justify">In making the determination of whether a member
of the board is independent, our Board considers, among other things, any transactions and relationships between each director and his
immediate family and the Company. The purpose of this review is to determine whether any such relationships or transactions are material
and, therefore, inconsistent with a determination that the directors are independent. Based on such review and its understanding of such
relationships and transactions, our Board affirmatively determined that each of Messrs., Nixon, Mavrommatis, and Lonegro is qualified
as independent and does not have any material relationship with us that might interfere with his exercise of independent judgment.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0 0 12pt; text-align: justify"><B>Board Committees</B></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0 0 12pt; text-align: justify">Our Board of Directors has established an audit
committee, a compensation committee and a corporate governance and nominating committee. Each committee has its own charter, which is
available on our website at&#160;www.duostech.com.&#160;Each of the board committees has the composition and responsibilities described
below.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0 0 12pt; text-align: justify">Members will serve on these committees until
their resignation or until otherwise determined by our Board of Directors.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0 0 12pt; text-align: justify">Mr. Mavrommatis is the Chairman of the Audit
Committee, and the Corporate Governance and Nominating Committee, and Mr. Nixon is the Chairman of the Compensation Committee Each of
the independent members of our Board of Directors also serves on one or more committees as previously disclosed.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0 0 12pt; text-align: justify"><B>Audit Committee</B></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0 0 12pt; text-align: justify">The Audit Committee oversees our accounting
and financial reporting processes and oversees the audit of our financial statements and the effectiveness of our internal control over
financial reporting. The specific functions of this Committee include, but are not limited to:</P>

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<P STYLE="margin: 0">&#160;</P>

<P STYLE="margin: 0"></P>

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<P STYLE="margin: 0">&#160;</P>

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    <TD STYLE="line-height: 11pt">&#160;</TD>
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<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0 0 12pt; text-align: justify">Our board has determined that each of Mr. Mavrommatis
and Mr. Lonegro is currently qualified as an &#8220;audit committee financial expert&#8221;, as such term is defined in Item 407(d)(5)
of Regulation S-K. Mr. Mavrommatis serves as the Chairman of the Audit Committee.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0 0 12pt; text-align: justify"><B>Compensation Committee</B></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0 0 12pt; text-align: justify">The Committee&#8217;s compensation-related
responsibilities include, but are not limited to:</P>

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    <TD STYLE="vertical-align: top; text-align: justify; line-height: 11pt">reviewing and approving on an annual basis the corporate goals and objectives with respect to compensation for our Chief Executive Officer;</TD></TR>
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    <TD STYLE="vertical-align: top; text-align: justify; line-height: 11pt">determining the need for and the appropriateness of employment agreements and change in control agreements for each of our executive officers and any other officers recommended by the Chief Executive Officer or board of directors;</TD></TR>
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    <TD STYLE="vertical-align: top; text-align: justify; line-height: 11pt">reviewing our incentive compensation and other equity-based plans and recommending changes in such plans to our board of directors as needed, and exercising all the authority of our board of directors with respect to the administration of such plans;</TD></TR>
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    <TD STYLE="vertical-align: top; text-align: justify; line-height: 11pt">reviewing and recommending to our board of directors the compensation of independent directors, including incentive and equity-based compensation; and</TD></TR>
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<P STYLE="font: 10pt/11pt Times New Roman, Times, Serif; margin: 0; text-align: justify">&#160;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0 0 12pt; text-align: justify">Mr. Nixon serves as the Chairman of the Compensation
Committee.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0 0 12pt; text-align: justify"><B>Corporate Governance and Nominating Committee</B></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0 0 12pt; text-align: justify">The responsibilities of the Corporate Governance
and Nominating Committee include:</P>

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<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify">&#160;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0 0 12pt; text-align: justify">Mr. Mavrommatis serves as the Chairman of the
Corporate Governance and Nominating Committee.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0 0 12pt; text-align: justify"><B>Involvement in Certain Legal Proceedings</B></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0 0 12pt; text-align: justify">To the best of our knowledge, none of our directors
or executive officers has, during the past ten years:</P>

<TABLE CELLSPACING="0" CELLPADDING="0" STYLE="font: 10pt Times New Roman, Times, Serif; width: 100%; border-collapse: collapse">
  <TR>
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<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify">&#160;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0 0 12pt; text-align: justify">Except as set forth in our discussion below
in &#8220;Certain Relationships and Related Transactions,&#8221; none of our directors or executive officers has been involved in any
transactions with us or any of our directors, executive officers, affiliates or associates which are required to be disclosed pursuant
to the rules and regulations of the Commission.&#160;</P>

<P STYLE="font: bold 10pt Times New Roman, Times, Serif; margin: 0 0 12pt; text-transform: uppercase; text-align: center"></P>

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<P STYLE="font: bold 10pt Times New Roman, Times, Serif; margin: 0 0 12pt; text-transform: uppercase; text-align: center"><FONT ID="a_0014"></FONT>EXECUTIVE COMPENSATION</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0 0 12pt; text-align: justify">The following table sets forth the total compensation
received for services rendered in all capacities to our Company for the last two fiscal years, which was awarded to, earned by, or paid
to our Chief Executive Officer and Chief Financial Officer (the &#8220;Named Executive Officers&#8221;). Christopher King became Chief
Operating Officer of the Company on January 1, 2025 and as a result is not included in the below table.</P>

<TABLE CELLSPACING="0" CELLPADDING="0" STYLE="font: 10pt Times New Roman, Times, Serif; width: 100%; border-collapse: collapse">
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    <TD>&#160;</TD>
    <TD>&#160;</TD>
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    <TD>&#160;</TD>
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    <TD>&#160;</TD>
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    <TD COLSPAN="2" STYLE="text-align: right">&#160;</TD>
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    <TD STYLE="width: 1%">&#160;</TD>
    <TD STYLE="width: 1%">&#160;</TD>
    <TD STYLE="width: 1%">&#160;</TD>
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    <TD STYLE="width: 1%">&#160;</TD>
    <TD STYLE="width: 6%; text-align: right">&#8212;&#160;&#160;</TD>
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    <TD STYLE="text-align: right">&#160;</TD>
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    <TD>&#160;</TD>
    <TD STYLE="text-align: right">&#160;</TD>
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    <TD>&#160;</TD>
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    <TD>&#160;</TD>
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    <TD STYLE="text-align: right">&#8212;</TD>
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    <TD>&#160;</TD>
    <TD STYLE="text-align: right">&#8212;</TD>
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    <TD>&#160;</TD>
    <TD STYLE="text-align: right">&#8212;&#160;&#160;</TD>
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    <TD>&#160;</TD></TR>
  <TR STYLE="vertical-align: bottom; background-color: #CCEEFF">
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    <TD>&#160;</TD></TR>
  <TR STYLE="vertical-align: bottom; background-color: white">
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    <TD STYLE="text-align: right">&#160;</TD>
    <TD>&#160;</TD>
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    <TD>&#160;</TD>
    <TD>&#160;</TD>
    <TD>&#160;</TD>
    <TD STYLE="text-align: right">&#160;</TD>
    <TD>&#160;</TD>
    <TD>&#160;</TD>
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    <TD STYLE="text-align: right">&#160;</TD>
    <TD>&#160;</TD>
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  <TR STYLE="vertical-align: bottom; background-color: #CCEEFF">
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    <TD>&#160;</TD>
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    <TD>&#160;</TD>
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    <TD>&#160;</TD>
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    <TD>&#160;</TD>
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    <TD>&#160;</TD>
    <TD STYLE="text-align: right">&#8212;&#160;&#160;</TD>
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    <TD>&#160;</TD></TR>
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<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify">&#160;</P>

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<TABLE CELLSPACING="0" CELLPADDING="0" STYLE="font: 10pt Times New Roman, Times, Serif; width: 100%; border-collapse: collapse">
  <TR STYLE="vertical-align: top">
    <TD STYLE="width: 32px">(1)</TD>
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  <TR STYLE="vertical-align: top">
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  <TR STYLE="vertical-align: top">
    <TD>(3)</TD>
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  <TR STYLE="vertical-align: top">
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  <TR STYLE="vertical-align: top">
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  <TR STYLE="vertical-align: top">
    <TD>(6)</TD>
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  <TR STYLE="vertical-align: top">
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  <TR STYLE="vertical-align: top">
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  </TABLE>
<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify">&#160;</P>

<TABLE CELLSPACING="0" CELLPADDING="0" STYLE="font: 10pt Times New Roman, Times, Serif; width: 100%; border-collapse: collapse">
  <TR STYLE="vertical-align: bottom">
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    <TD>&#160;</TD></TR>
  <TR STYLE="vertical-align: bottom">
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<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0">&#160;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0 0 12pt; text-align: justify"></P>

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<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0 0 12pt; text-align: justify"><B>Outstanding Equity Awards at December 31,
2024</B></P>

<TABLE CELLSPACING="0" CELLPADDING="0" STYLE="font: 10pt Times New Roman, Times, Serif; width: 100%; border-collapse: collapse">
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    <TD STYLE="text-align: justify; line-height: 11pt"><FONT STYLE="font-size: 10pt">&#160;</FONT></TD>
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    <TD STYLE="text-align: justify; line-height: 11pt"><FONT STYLE="font-size: 10pt">&#160;</FONT></TD>
    <TD STYLE="text-align: justify; line-height: 11pt"><FONT STYLE="font-size: 10pt">&#160;</FONT></TD>
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    <TD><FONT STYLE="font-size: 10pt">&#160;</FONT></TD>
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    <TD STYLE="text-align: justify; line-height: 11pt"><FONT STYLE="font-size: 10pt">&#160;</FONT></TD>
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    <TD STYLE="text-align: justify; line-height: 11pt"><FONT STYLE="font-size: 10pt">&#160;</FONT></TD>
    <TD STYLE="text-align: justify; line-height: 11pt"><FONT STYLE="font-size: 10pt">&#160;</FONT></TD>
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    <TD STYLE="text-align: justify; line-height: 11pt"><FONT STYLE="font-size: 10pt">&#160;</FONT></TD>
    <TD STYLE="text-align: justify; line-height: 11pt"><FONT STYLE="font-size: 10pt">&#160;</FONT></TD>
    <TD STYLE="text-align: justify; line-height: 11pt"><FONT STYLE="font-size: 10pt">&#160;</FONT></TD>
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    <TD STYLE="text-align: justify; line-height: 11pt"><FONT STYLE="font-size: 10pt">&#160;</FONT></TD>
    <TD STYLE="text-align: justify; line-height: 11pt"><FONT STYLE="font-size: 10pt">&#160;</FONT></TD>
    <TD STYLE="text-align: justify; line-height: 11pt"><FONT STYLE="font-size: 10pt">&#160;</FONT></TD>
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    <TD STYLE="text-align: justify; line-height: 11pt"><FONT STYLE="font-size: 10pt">&#160;</FONT></TD>
    <TD STYLE="text-align: justify; line-height: 11pt"><FONT STYLE="font-size: 10pt">&#160;</FONT></TD>
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    <TD STYLE="text-align: justify; line-height: 11pt"><FONT STYLE="font-size: 10pt">&#160;</FONT></TD>
    <TD STYLE="text-align: justify; line-height: 11pt"><FONT STYLE="font-size: 10pt">&#160;</FONT></TD>
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    <TD STYLE="text-align: justify; line-height: 11pt"><FONT STYLE="font-size: 10pt">&#160;</FONT></TD>
    <TD STYLE="text-align: justify; line-height: 11pt"><FONT STYLE="font-size: 10pt">&#160;</FONT></TD>
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    <TD STYLE="text-align: justify; line-height: 11pt"><FONT STYLE="font-size: 10pt">&#160;</FONT></TD>
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    <TD STYLE="text-align: justify; line-height: 11pt"><FONT STYLE="font-size: 10pt">&#160;</FONT></TD>
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    <TD STYLE="text-align: justify; line-height: 11pt"><FONT STYLE="font-size: 10pt">&#160;</FONT></TD>
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    <TD STYLE="text-align: justify; line-height: 11pt"><FONT STYLE="font-size: 10pt">&#160;</FONT></TD>
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  </TABLE>
<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify">&#160;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0 0 12pt; text-align: justify">The options granted to Mr. Ferry and Mr. Goldfrab
in 2023, as reflected in the above Summary Compensation Table, were cancelled as of December 31, 2024.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0 0 12pt; text-align: justify"><B>Employment Agreements</B></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0 0 12pt; text-align: justify"><B>Charles P. Ferry</B></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0 0 12pt; text-align: justify">On September 1, 2020, the Company entered into
an employment agreement (the &#8220;Ferry Employment Agreement&#8221;) with Charles P. Ferry pursuant to which Mr. Ferry served as Chief
Executive Officer of the Company. The Ferry Employment Agreement was for a term of one year (the &#8220;Initial Term&#8221;) and was automatically
extended for additional terms of successive one-year periods (the &#8220;Additional Term&#8221;) unless the Company or Mr. Ferry gave
at least 60 days written notice of non-renewal prior to the expiration of the Initial Term or an Additional Term. During 2022 Mr. Ferry
received a base salary at an annual rate of $250,000 and also received a bonus in the amount of $150,000 during 2022 for achievement of
certain objectives in 2022 in accordance with criteria determined by our Board of Directors and based on the review and recommendation
of the Compensation Committee. In 2023, Mr. Ferry&#8217;s annual salary was increased to $265,000 and he was paid a bonus of $125,000
based on criteria determined by our Board of Directors and based on the review and recommendation of the Compensation Committee. Mr. Ferry
continued to be eligible for an annual bonus in an amount up to $150,000 in accordance with criteria, including but not limited to, revenue
targets, profitability and other key performance indicators. Additionally, Mr. Ferry initially received 100,000 non-qualified stock options
that were exercisable into 100,000 shares of our common stock at an exercise price of $4.18, of which 100% were vested as of September
1, 2022. He received a further grant in January 2022 in the amount of 100,000 non-qualified options with a term of five years and a exercise
price of $6.41. The options had a three-year vesting period. Additionally, he received a further grant in April 2023 in the amount of
37,889 non-qualified options with a term of five years and a exercise price of $4.22. The options had a three-year vesting period. The
Ferry Employment Agreement could be terminated with or without cause at any time during the Initial Term or during an Additional Term.
As a full-time employee of the Company, Mr. Ferry was eligible to participate in all of the Company&#8217;s benefit programs.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0 0 12pt; text-align: justify">On January 31, 2025, the Company entered into
a new Employment Agreement with Mr. Ferry (the &#8220;New Ferry Agreement&#8221;), effective as of January 1, 2025, which superseded the
Ferry Employment Agreement described above. The New Ferry Agreement has a three-year term and will automatically renew for successive
one-year periods unless either party provides at least 60 days' notice of non-renewal. Mr. Ferry&#8217;s base salary under the New Ferry
Agreement is $400,000 per year, subject to annual review. He is eligible for an annual performance-based bonus of up to 100% of his base
salary, determined based on criteria such as revenue targets, profitability, and other key performance indicators, as recommended by the
Chief Executive Officer and approved by the Board of Directors. In connection with the new Employment Agreement, Mr. Ferry was granted
522,889 restricted shares of the Company&#8217;s common stock under the Company&#8217;s 2021 Equity Incentive Plan, as amended. All previously
granted and outstanding options were canceled. The new equity award is subject to a three-year cliff vesting schedule, with full vesting
on December 31, 2027, subject to continued employment through that date. Vesting of the restricted shares will accelerate in the event
of a change of control, death or disability, termination without cause, or resignation for good reason (as defined in the award agreement).
Mr. Ferry will also serve in a similar executive capacity with New APR Energy, LLC and will serve as Chairman and a member of the Board
of Sawgrass APR Holdings LLC, the indirect parent of the New APR. In the New Ferry Agreement, Mr. Ferry agrees to provide sufficient time
and effort to lead both companies and to report to the Board of Directors any potential conflicts of interest. As a full-time employee
of the Company, Mr. Ferry is eligible to participate in all of the Company&#8217;s benefit programs.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0 0 12pt; text-align: justify"><I>Potential Payments upon Change of Control
or Termination following a Change of Control and Severance </I></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0 0 12pt; text-align: justify">The New Ferry Agreement contains certain provisions
for early termination, which may result in a severance payment equal to up to 12 months (or through the end of the then-current term in
the case of resignation for good reason) of base salary then in effect. Generally, we do not provide any severance specifically upon a
change in control, but the New Ferry Agreement provides for accelerated vesting upon a change in control, as described above.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0 0 12pt; text-align: justify"></P>

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<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0 0 12pt; text-align: justify"><B>Adrian G. Goldfarb</B></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0 0 12pt; text-align: justify">On April 1, 2018, the Company entered into
an employment agreement (the &#8220;2018 Goldfarb Employment Agreement&#8221;) with Adrian G. Goldfarb, pursuant to which Mr. Goldfarb
served as Chief Financial Officer of the Company through November 15, 2022, and subsequently, assumed a new role as Strategic Advisor
to the CEO. During 2022, Mr. Goldfarb was paid an annual salary of $220,000 and he was paid a bonus of $50,000. In 2023, Mr. Goldfarb&#8217;s
annual salary was increased to $226,600 and he was paid a bonus of $31,000. The 2018 Goldfarb Employment Agreement had an initial term
through March 31, 2019, subject to renewal for successive one-year terms unless either party gave the other notice of that party&#8217;s
election to not renew at least 60 days prior to the expiration of the then-current term. Mr. Goldfarb was re-appointed as Chief Financial
Officer of the Company effective April 29, 2024. He and the Company entered into an Employment Agreement (the &#8220;2024 Goldfarb Employment
Agreement&#8221;) on April 25, 2024. The 2024 Goldfarb Employment Agreement was for a term of one year (the &#8220;Initial Term&#8221;)
and would be automatically extended for additional terms of successive one-year periods (the &#8220;Additional Term&#8221;) unless the
Company or Mr. Goldfarb gave 60 days written notice of non-renewal prior to the expiration of the Initial Term or each Additional Term.
Mr. Goldfarb received a base salary at the annual rate of $240,196. Mr. Goldfarb was also eligible for an annual performance bonus in
an amount up to $70,000 in accordance with criteria, including but not limited to revenue targets, profitability, and other key performance
indicators, as recommended by the Chief Executive Officer and accepted by the Board of Directors. The 2024 Goldfarb Agreement could be
terminated with or without cause and by Mr. Goldfarb for good reason. As a full-time employee of the Company, Mr. Goldfarb was eligible
to participate in all the Company&#8217;s benefit programs.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0 0 12pt; text-align: justify">On January 31, 2025, the Company entered into
a new Employment Agreement with Mr. Goldfarb (the &#8220;New Goldfarb Agreement&#8221;), effective as of January 1, 2025, which superseded
the 2024 Goldfarb Employment Agreement described above. The New Goldfarb Agreement has a three-year term and will automatically renew
for successive one-year periods unless either party provides at least 60 days' notice of non-renewal. Mr. Goldfarb&#8217;s base salary
is $325,000 per year, subject to annual review. He is eligible for an annual performance-based bonus of up to 80% of his base salary,
determined based on criteria such as revenue targets, profitability, and other key performance indicators, as recommended by the Chief
Executive Officer and approved by the Board of Directors. In connection with the New Goldfarb Agreement, Mr. Goldfarb was granted 441,275
restricted shares of the Company&#8217;s common stock under the Company&#8217;s 2021 Equity Incentive Plan, as amended. All previously
granted and outstanding options were canceled. The new equity award is subject to a three-year cliff vesting schedule, with full vesting
on December 31, 2027, subject to continued employment through that date. Vesting of the restricted shares will accelerate in the event
of a change of control, death or disability, termination without cause, or resignation for good reason (as defined in the award agreement).
In addition, if Mr. Goldfarb retires after two years, all the shares will vest. If he retires before two years, a percentage of the shares,
equal to the number of months of service divided by 24, will vest. As a full-time employee of the Company, Mr. Goldfarb is eligible to
participate in all of the Company&#8217;s benefit programs.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0 0 12pt; text-align: justify"><I>Potential Payments upon Change of Control
or Termination following a Change of Control and Severance</I></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0 0 12pt; text-align: justify">The New Goldfarb Agreement contains certain
provisions for early termination, which may result in a severance payment equal to 12 months (or through the end of the then-current term
in the case of resignation with good reason) of base salary then in effect. Generally, we do not provide any severance specifically upon
a change in control, but the New Goldfarb Agreement provides for accelerated vesting upon a change in control.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0 0 12pt; text-align: justify"><B>Christopher T. King</B></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0 0 12pt; text-align: justify">On January 31, 2025, the Company entered into
an employment agreement (the &#8220;King Employment Agreement&#8221;) with Mr. King, effective as of January 1, 2025. The King Employment
Agreement has a three-year term and will automatically renew for successive one-year periods unless either party provides at least 60
days' notice of non-renewal. Mr. King&#8217;s base salary is $325,000 per year, subject to annual review. He is eligible for an annual
performance-based bonus of up to 80% of his base salary, determined based on criteria such as revenue targets, profitability, and other
key performance indicators, as recommended by the Chief Executive Officer and approved by the Board of Directors. In connection with the
King Employment Agreement, Mr. King was granted 225,000 restricted shares of the Company&#8217;s common stock under the Company&#8217;s
2021 Equity Incentive Plan, as amended. All previously granted and outstanding options were canceled. The new equity award is subject
to a three-year cliff vesting schedule, with full vesting on December 31, 2027, subject to continued employment through that date. Vesting
of the restricted shares will accelerate in the event of a change of control, death or disability, termination without cause, or resignation
for good reason (as defined in the award agreement). Mr. King will also serve in a similar executive capacity with New APR Energy, LLC.
In the King Employment Agreement, Mr. King agrees to provide sufficient time and effort to lead both companies and to report to the Board
of Directors any potential conflicts of interest. As a full-time employee of the Company, Mr. King is eligible to participate in all of
the Company&#8217;s benefit programs.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0 0 12pt; text-align: justify"><I>Potential Payments upon Change of Control
or Termination following a Change of Control and Severance</I></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0 0 12pt; text-align: justify">The King Employment Agreement contains certain
provisions for early termination, which may result in a severance payment equal to 12 months (or through the end of the then-current term
in the case of resignation for good reason) of base salary then in effect. Generally, we do not provide any severance specifically upon
a change in control, but the King Employment Agreement provides for accelerated vesting upon a change in control.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0 0 12pt; text-align: justify"></P>

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<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0 0 12pt; text-align: justify"><B>Andrew W. Murphy</B></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0 0 12pt; text-align: justify">On December 1, 2023, the Company entered into
an employment agreement (the &#8220;Murphy Employment Agreement&#8221;) with Andrew W. Murphy, pursuant to which Mr. Murphy served as
Chief Financial Officer of the Company. The Murphy Employment Agreement was for a term through March 31, 2025 (the &#8220;Initial Term&#8221;)
and would be automatically extended for additional terms of successive one-year periods (the &#8220;Additional Term&#8221;) unless the
Company or Mr. Murphy gave at least 60 days written notice of non-renewal prior to the expiration of the Initial Term or each Additional
Term. Mr. Murphy received a base salary at the annual rate of $224,720. Mr. Murphy was also eligible for an annual performance bonus in
an amount up to $70,000 in accordance with criteria, including but not limited to, revenue targets, profitability and other key performance
indicators, as recommended by the Chief Executive Officer and accepted by the Board of Directors. Additionally, Mr. Murphy initially received
20,000 non-qualified stock options at an exercise price of $4.35 with a term of five years and a three-year vesting period. He received
a further grant in January 2022 in the amount of 80,000 nonqualified options with a term of five years and a strike price of $6.41. The
options have a three-year vesting period. Additionally, he received a further grant in April 2023 in the amount of 30,311 non-qualified
options with a term of five years and an exercise price of $4.22. The options have a three-year vesting period. The Murphy Employment
Agreement could be terminated with or without cause and by Mr. Murphy for good reason. As a full-time employee of the Company, Mr. Murphy
was eligible to participate in all of the Company&#8217;s benefit programs. Mr. Murphy gave notice to the Company that he would be departing
the Company effective April 29, 2024. As a consequence, the Murphy Employment Agreement terminated effective April 29, 2024.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0 0 12pt; text-align: justify"><I>Potential Payments upon Change of Control
or Termination following a Change of Control and Severance</I></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0 0 12pt; text-align: justify">The Murphy Employment Agreement contained certain
provisions for early termination, which may have resulted in a severance payment equal to up to six months of base salary then in effect.
Generally, we do not provide any severance specifically upon a change in control, nor do we provide for accelerated vesting upon a change
in control. Mr. Murphy will not receive any further compensation following the termination of the Murphy Employment Agreement effective
April 29, 2024.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0 0 12pt; text-align: justify"><B>Director Compensation</B></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0 0 12pt; text-align: justify">Starting in 2021, the Compensation Committee
determined that each independent director was entitled to receive $40,000 annually for serving as a board member, including on at least
one committee, and an additional $10,000 for serving as Chairman of a committee. The board compensation will be paid 40% in cash and 60%
in shares of Common Stock or options to purchase Common Stock, as elected by the board member. Each board member may further elect to
receive up to 100% compensation in Common Stock.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0 0 12pt; text-align: justify">The following table summarizes data concerning
the compensation of our non-employee directors for the year ended December&#160;31, 2024.</P>

<TABLE CELLPADDING="0" CELLSPACING="0" STYLE="font: 10pt Times New Roman, Times, Serif; border-collapse: collapse; width: 100%">
  <TR STYLE="vertical-align: bottom">
    <TD STYLE="text-align: center"><FONT STYLE="font-size: 8pt">&#160;</FONT></TD><TD STYLE="font-size: 8pt; padding-bottom: 1pt"><FONT STYLE="font-size: 8pt">&#160;</FONT></TD>
    <TD COLSPAN="2" STYLE="border-bottom: Black 1pt solid; font-size: 8pt; text-align: center"><P STYLE="font: 8pt Times New Roman, Times, Serif; margin: 0; text-align: center"><FONT STYLE="font-size: 8pt"><B>Fees
                                            Earned</B></FONT></P> <P STYLE="font: 8pt Times New Roman, Times, Serif; margin: 0; text-align: center"><FONT STYLE="font-size: 8pt"><B>or
                                            Paid<BR> in Cash</B></FONT></P> <P STYLE="font: 8pt Times New Roman, Times, Serif; margin: 0; text-align: center"><FONT STYLE="font-size: 8pt"><B>($)</B></FONT></P></TD><TD STYLE="padding-bottom: 1pt; font-size: 8pt"><FONT STYLE="font-size: 8pt">&#160;</FONT></TD><TD STYLE="font-size: 8pt; padding-bottom: 1pt"><FONT STYLE="font-size: 8pt">&#160;</FONT></TD>
    <TD COLSPAN="2" STYLE="border-bottom: Black 1pt solid; font-size: 8pt; text-align: center"><P STYLE="font: 8pt Times New Roman, Times, Serif; margin: 0; text-align: center"><FONT STYLE="font-size: 8pt"><B>Stock</B></FONT></P> <P STYLE="font: 8pt Times New Roman, Times, Serif; margin: 0; text-align: center"><FONT STYLE="font-size: 8pt"><B>Awards</B></FONT></P> <P STYLE="font: 8pt Times New Roman, Times, Serif; margin: 0; text-align: center"><FONT STYLE="font-size: 8pt"><B>($)<SUP>(5)</SUP></B></FONT></P></TD><TD STYLE="padding-bottom: 1pt; font-size: 8pt"><FONT STYLE="font-size: 8pt">&#160;</FONT></TD><TD STYLE="font-size: 8pt; padding-bottom: 1pt"><FONT STYLE="font-size: 8pt">&#160;</FONT></TD>
    <TD COLSPAN="2" STYLE="border-bottom: Black 1pt solid; font-size: 8pt; text-align: center"><P STYLE="font: 8pt Times New Roman, Times, Serif; margin: 0; text-align: center"><FONT STYLE="font-size: 8pt"><B>Option</B></FONT></P> <P STYLE="font: 8pt Times New Roman, Times, Serif; margin: 0; text-align: center"><FONT STYLE="font-size: 8pt"><B>Awards</B></FONT></P> <P STYLE="font: 8pt Times New Roman, Times, Serif; margin: 0; text-align: center"><FONT STYLE="font-size: 8pt"><B>($)</B></FONT></P></TD><TD STYLE="padding-bottom: 1pt; font-size: 8pt"><FONT STYLE="font-size: 8pt">&#160;</FONT></TD><TD STYLE="font-size: 8pt; padding-bottom: 1pt"><FONT STYLE="font-size: 8pt">&#160;</FONT></TD>
    <TD COLSPAN="2" STYLE="border-bottom: Black 1pt solid; font-size: 8pt; text-align: center"><P STYLE="font: 8pt Times New Roman, Times, Serif; margin: 0; text-align: center"><FONT STYLE="font-size: 8pt"><B>Non-Equity</B></FONT></P> <P STYLE="font: 8pt Times New Roman, Times, Serif; margin: 0; text-align: center"><FONT STYLE="font-size: 8pt"><B>Incentive
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  <TR STYLE="vertical-align: bottom; background-color: rgb(204,238,255)">
    <TD STYLE="width: 37%; text-align: left">Kenneth Ehrman <SUP>(1)</SUP></TD><TD STYLE="width: 1%">&#160;</TD>
    <TD STYLE="width: 1%; text-align: left">&#160;</TD><TD STYLE="width: 6%; text-align: right">5,000</TD><TD STYLE="width: 1%; text-align: left">&#160;</TD><TD STYLE="width: 1%">&#160;</TD>
    <TD STYLE="width: 1%; text-align: left">&#160;</TD><TD STYLE="width: 6%; text-align: right">45,000</TD><TD STYLE="width: 1%; text-align: left">&#160;</TD><TD STYLE="width: 1%">&#160;</TD>
    <TD STYLE="width: 1%; text-align: left">&#160;</TD><TD STYLE="width: 6%; text-align: right">&#8212;</TD><TD STYLE="width: 1%; text-align: left">&#160;</TD><TD STYLE="width: 1%">&#160;</TD>
    <TD STYLE="width: 1%; text-align: left">&#160;</TD><TD STYLE="width: 6%; text-align: right">&#8212;</TD><TD STYLE="width: 1%; text-align: left">&#160;</TD><TD STYLE="width: 1%">&#160;</TD>
    <TD STYLE="width: 1%; text-align: left">&#160;</TD><TD STYLE="width: 6%; text-align: right">&#8212;</TD><TD STYLE="width: 1%; text-align: left">&#160;</TD><TD STYLE="width: 1%">&#160;</TD>
    <TD STYLE="width: 1%; text-align: left">&#160;</TD><TD STYLE="width: 6%; text-align: right">&#8212;</TD><TD STYLE="width: 1%; text-align: left">&#160;</TD><TD STYLE="width: 1%">&#160;</TD>
    <TD STYLE="width: 1%; text-align: left">&#160;</TD><TD STYLE="width: 6%; text-align: right">50,000</TD><TD STYLE="width: 1%; text-align: left">&#160;</TD></TR>
  <TR STYLE="vertical-align: bottom; background-color: White">
    <TD STYLE="text-align: left">Frank A. Lonegro <SUP>(2)</SUP></TD><TD>&#160;</TD>
    <TD STYLE="text-align: left">&#160;</TD><TD STYLE="text-align: right">0</TD><TD STYLE="text-align: left">&#160;</TD><TD>&#160;</TD>
    <TD STYLE="text-align: left">&#160;</TD><TD STYLE="text-align: right">40,000</TD><TD STYLE="text-align: left">&#160;</TD><TD>&#160;</TD>
    <TD STYLE="text-align: left">&#160;</TD><TD STYLE="text-align: right">&#8212;</TD><TD STYLE="text-align: left">&#160;</TD><TD>&#160;</TD>
    <TD STYLE="text-align: left">&#160;</TD><TD STYLE="text-align: right">&#8212;</TD><TD STYLE="text-align: left">&#160;</TD><TD>&#160;</TD>
    <TD STYLE="text-align: left">&#160;</TD><TD STYLE="text-align: right">&#8212;</TD><TD STYLE="text-align: left">&#160;</TD><TD>&#160;</TD>
    <TD STYLE="text-align: left">&#160;</TD><TD STYLE="text-align: right">&#8212;</TD><TD STYLE="text-align: left">&#160;</TD><TD>&#160;</TD>
    <TD STYLE="text-align: left">&#160;</TD><TD STYLE="text-align: right">40,000</TD><TD STYLE="text-align: left">&#160;</TD></TR>
  <TR STYLE="vertical-align: bottom; background-color: rgb(204,238,255)">
    <TD STYLE="text-align: left">Ned Mavrommatis <SUP>(3)</SUP></TD><TD>&#160;</TD>
    <TD STYLE="text-align: left">&#160;</TD><TD STYLE="text-align: right">20,000</TD><TD STYLE="text-align: left">&#160;</TD><TD>&#160;</TD>
    <TD STYLE="text-align: left">&#160;</TD><TD STYLE="text-align: right">30,000</TD><TD STYLE="text-align: left">&#160;</TD><TD>&#160;</TD>
    <TD STYLE="text-align: left">&#160;</TD><TD STYLE="text-align: right">&#8212;</TD><TD STYLE="text-align: left">&#160;</TD><TD>&#160;</TD>
    <TD STYLE="text-align: left">&#160;</TD><TD STYLE="text-align: right">&#8212;</TD><TD STYLE="text-align: left">&#160;</TD><TD>&#160;</TD>
    <TD STYLE="text-align: left">&#160;</TD><TD STYLE="text-align: right">&#8212;</TD><TD STYLE="text-align: left">&#160;</TD><TD>&#160;</TD>
    <TD STYLE="text-align: left">&#160;</TD><TD STYLE="text-align: right">&#8212;</TD><TD STYLE="text-align: left">&#160;</TD><TD>&#160;</TD>
    <TD STYLE="text-align: left">&#160;</TD><TD STYLE="text-align: right">50,000</TD><TD STYLE="text-align: left">&#160;</TD></TR>
  <TR STYLE="vertical-align: bottom; background-color: White">
    <TD STYLE="text-align: left">James Craig Nixon <SUP>(4)</SUP></TD><TD>&#160;</TD>
    <TD STYLE="text-align: left">&#160;</TD><TD STYLE="text-align: right">0</TD><TD STYLE="text-align: left">&#160;</TD><TD>&#160;</TD>
    <TD STYLE="text-align: left">&#160;</TD><TD STYLE="text-align: right">50,000</TD><TD STYLE="text-align: left">&#160;</TD><TD>&#160;</TD>
    <TD STYLE="text-align: left">&#160;</TD><TD STYLE="text-align: right">&#8212;</TD><TD STYLE="text-align: left">&#160;</TD><TD>&#160;</TD>
    <TD STYLE="text-align: left">&#160;</TD><TD STYLE="text-align: right">&#8212;</TD><TD STYLE="text-align: left">&#160;</TD><TD>&#160;</TD>
    <TD STYLE="text-align: left">&#160;</TD><TD STYLE="text-align: right">&#8212;</TD><TD STYLE="text-align: left">&#160;</TD><TD>&#160;</TD>
    <TD STYLE="text-align: left">&#160;</TD><TD STYLE="text-align: right">&#8212;</TD><TD STYLE="text-align: left">&#160;</TD><TD>&#160;</TD>
    <TD STYLE="text-align: left">&#160;</TD><TD STYLE="text-align: right">50,000</TD><TD STYLE="text-align: left">&#160;</TD></TR>
  </TABLE>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0">&#8212;&#8212;&#8212;&#8212;&#8212;&#8212;&#8212;</P>

<TABLE CELLSPACING="0" CELLPADDING="0" STYLE="font: 10pt Times New Roman, Times, Serif; width: 100%; border-collapse: collapse">
  <TR STYLE="vertical-align: top">
    <TD STYLE="width: 3%">(1)&#160;&#160;&#160;</TD>
    <TD STYLE="width: 97%; text-align: justify">Kenneth Ehrman resigned as Chairman and as a director on April 9, 2025. He was appointed to the board in January 2019. Through November 19, 2020, he served as Chairman of the Compensation Committee and as of that date he was named Chairman of our Board of Directors. He served as a member of the Compensation Committee and was Chairman of the Corporate Governance and Nominating Committee. He was also a member of the Audit Committee through April 1, 2024.</TD></TR>
  <TR STYLE="vertical-align: top">
    <TD>(2)</TD>
    <TD STYLE="text-align: justify">Frank A. Lonegro was appointed to the board on July 19, 2023. Mr. Lonegro became a member of the Audit Committee on April 1, 2024. Mr. Lonegro elected to receive all of his compensation in stock.</TD></TR>
  <TR STYLE="vertical-align: top">
    <TD STYLE="text-align: justify">(3)</TD>
    <TD STYLE="text-align: justify">Ned Mavrommatis was appointed to the board on August 13, 2019. Through November 19, 2020, he served as Co-Chairman of the Audit Committee and since then he has been the sole Chairman of the Audit Committee. &#160;He is a member of the Compensation and Corporate Governance Committee and is Chairman of the Nominating Committee.</TD></TR>
  <TR STYLE="vertical-align: top">
    <TD>(4)</TD>
    <TD STYLE="text-align: justify">James Craig Nixon was appointed to the board on July 15, 2021. Since his appointment, he has served as Chairman of the Compensation Committee and he is a member of the Audit and Corporate Governance and Nominating Committees. Mr. Nixon elected to receive all of his compensation in stock.</TD></TR>
  <TR STYLE="vertical-align: top">
    <TD>(5)</TD>
    <TD STYLE="text-align: justify">Reflects the aggregate grant date fair value of stock awards computed in accordance with FASB ASC Topic 718. In determining the grant date fair value of stock awards, the Company used the closing price of the Company&#8217;s common stock on the grant date.</TD></TR>
  </TABLE>
<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify">&#160;</P>

<P STYLE="font: bold 10pt Times New Roman, Times, Serif; margin: 0 0 12pt; text-transform: uppercase; text-align: center"></P>

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<P STYLE="font: bold 10pt Times New Roman, Times, Serif; margin: 0 0 12pt; text-transform: uppercase; text-align: center"><FONT ID="a_0015"></FONT>SECURITY
OWNERSHIP OF CERTAIN BENEFICIAL OWNERS AND MANAGEMENT</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0 0 12pt; text-align: justify">As of July 7, 2025, our authorized capitalization
was 500,000,000 shares of common stock $0.001 par value per share, 500,000 shares of Series A Redeemable Convertible Preferred Stock (&#8220;Preferred
A&#8221;), 15,000 shares of Series B Convertible Preferred Stock (&#8220;Preferred B&#8221;), 5,000 shares of Series C Convertible Preferred
Stock (&#8220;Preferred C&#8221;), 4,000 shares of Series D Convertible Preferred Stock (&#8220;Preferred D&#8221;), 30,000 shares of
Series E Convertible Preferred Stock (&#8220;Preferred E&#8221;), and 5,000 shares of Series F Convertible Preferred Stock (&#8220;Preferred
F&#8221;). As of the same date, there were 0 shares of Preferred A, 0 shares of Preferred B, 0 shares of Preferred C, 999 shares of Preferred
D, 12,500 shares of Preferred E, and 0 shares of Preferred F outstanding, respectively, and 12,393,325 shares of our common stock issued.
Additionally, our common stock entitles its holder to one vote on each matter submitted to the stockholders.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0 0 12pt; text-align: justify">The following table sets forth, as of July
7, 2025, the number of shares of our common stock beneficially owned by (i) each person who is known by us to own of record or beneficially
five percent or more of our outstanding shares, (ii) each of our directors, (iii) each of our executive officers and (iv) all of our directors
and executive officers as a group. Unless otherwise indicated, each of the persons listed below has sole voting and investment power with
respect to the shares of our common stock beneficially owned. The address of our directors and executive officers is c/o Duos Technologies
Group, Inc., at 7660 Centurion Parkway, Suite 100, Jacksonville, Florida 32256.</P>

<TABLE CELLSPACING="0" CELLPADDING="0" STYLE="font: 10pt Times New Roman, Times, Serif; width: 100%; border-collapse: collapse">
  <TR STYLE="vertical-align: bottom">
    <TD STYLE="border-bottom: black 1pt solid"><FONT STYLE="font-size: 8pt"><B>Name and Address of Beneficial Owner</B></FONT></TD>
    <TD>&#160;</TD>
    <TD COLSPAN="2" STYLE="border-bottom: black 1pt solid">
    <P STYLE="font: 8pt Times New Roman, Times, Serif; margin: 0; text-align: center"><B>Number of</B></P>
    <P STYLE="font: 8pt Times New Roman, Times, Serif; margin: 0; text-align: center"><B>Shares of</B></P>
    <P STYLE="font: 8pt Times New Roman, Times, Serif; margin: 0; text-align: center"><B>Common Stock</B></P>
    <P STYLE="font: 8pt Times New Roman, Times, Serif; margin: 0; text-align: center"><B>Beneficially Owned</B></P></TD>
    <TD>&#160;</TD>
    <TD>&#160;</TD>
    <TD COLSPAN="2" STYLE="border-bottom: black 1pt solid">
    <P STYLE="font: 8pt Times New Roman, Times, Serif; margin: 0; text-align: center"><B>Percentage of</B></P>
    <P STYLE="font: 8pt Times New Roman, Times, Serif; margin: 0; text-align: center"><B>Shares of<BR>
    Common Stock<BR>
    Beneficially Owned</B></P></TD>
    <TD>&#160;</TD></TR>
  <TR STYLE="vertical-align: bottom; background-color: #CCEEFF">
    <TD><B>5% Beneficial Shareholders</B></TD>
    <TD>&#160;</TD>
    <TD>&#160;</TD>
    <TD STYLE="text-align: right">&#160;</TD>
    <TD>&#160;</TD>
    <TD>&#160;</TD>
    <TD>&#160;</TD>
    <TD STYLE="text-align: right">&#160;</TD>
    <TD>&#160;</TD></TR>
  <TR STYLE="vertical-align: bottom; background-color: white">
    <TD STYLE="width: 68%">Bleichroeder LP<BR>
1345 Avenue of the Americas, 47<SUP>th</SUP> Floor<BR>
New York, NY 10105<SUP>(1)</SUP></TD>
    <TD STYLE="width: 1%">&#160;</TD>
    <TD STYLE="width: 1%">&#160;</TD>
    <TD STYLE="width: 13%; text-align: right">2,690,538</TD>
    <TD STYLE="width: 1%">&#160;</TD>
    <TD STYLE="width: 1%">&#160;</TD>
    <TD STYLE="width: 1%">&#160;</TD>
    <TD STYLE="width: 13%; text-align: right">19.99</TD>
    <TD STYLE="width: 1%">%</TD></TR>
  <TR STYLE="vertical-align: bottom; background-color: #CCEEFF">
    <TD>Pessin Family Holdings<BR>
500 Fifth Avenue, Suite 2240<BR>
New York, NY 10110<SUP>(2)</SUP></TD>
    <TD>&#160;</TD>
    <TD>&#160;</TD>
    <TD STYLE="text-align: right">1,459,945</TD>
    <TD>&#160;</TD>
    <TD>&#160;</TD>
    <TD>&#160;</TD>
    <TD STYLE="text-align: right">11.78</TD>
    <TD>%</TD></TR>
  <TR STYLE="vertical-align: bottom; background-color: white">
    <TD><B>Directors and Named Executive Officers</B></TD>
    <TD>&#160;</TD>
    <TD>&#160;</TD>
    <TD STYLE="text-align: right">&#160;</TD>
    <TD>&#160;</TD>
    <TD>&#160;</TD>
    <TD>&#160;</TD>
    <TD STYLE="text-align: right">&#160;</TD>
    <TD>&#160;</TD></TR>
  <TR STYLE="vertical-align: bottom; background-color: #CCEEFF">
    <TD>Charles P. Ferry <SUP>(3)</SUP></TD>
    <TD>&#160;</TD>
    <TD>&#160;</TD>
    <TD STYLE="text-align: right">537,058</TD>
    <TD>&#160;</TD>
    <TD>&#160;</TD>
    <TD>&#160;</TD>
    <TD STYLE="text-align: right">4.33</TD>
    <TD>%</TD></TR>
  <TR STYLE="vertical-align: bottom; background-color: white">
    <TD>Adrian G. Goldfarb <SUP>(4)</SUP></TD>
    <TD>&#160;</TD>
    <TD>&#160;</TD>
    <TD STYLE="text-align: right">444,541</TD>
    <TD>&#160;</TD>
    <TD>&#160;</TD>
    <TD>&#160;</TD>
    <TD STYLE="text-align: right">3.59</TD>
    <TD>%</TD></TR>
  <TR STYLE="vertical-align: bottom; background-color: #CAEDFB">
    <TD>Christopher T. King <SUP>(5)</SUP></TD>
    <TD>&#160;</TD>
    <TD>&#160;</TD>
    <TD STYLE="text-align: right">225,000</TD>
    <TD>&#160;</TD>
    <TD>&#160;</TD>
    <TD>&#160;</TD>
    <TD STYLE="text-align: right">1.82</TD>
    <TD>%</TD></TR>
  <TR STYLE="vertical-align: bottom">
    <TD>Ned Mavrommatis <SUP>(6)</SUP></TD>
    <TD>&#160;</TD>
    <TD>&#160;</TD>
    <TD STYLE="text-align: right">47,802</TD>
    <TD>&#160;</TD>
    <TD>&#160;</TD>
    <TD>&#160;</TD>
    <TD STYLE="text-align: right">*</TD>
    <TD>&#160;</TD></TR>
  <TR STYLE="vertical-align: bottom; background-color: #CAEDFB">
    <TD>James C. Nixon</TD>
    <TD>&#160;</TD>
    <TD>&#160;</TD>
    <TD STYLE="text-align: right">59,265</TD>
    <TD>&#160;</TD>
    <TD>&#160;</TD>
    <TD>&#160;</TD>
    <TD STYLE="text-align: right">*</TD>
    <TD>&#160;</TD></TR>
  <TR STYLE="vertical-align: bottom">
    <TD>Frank A. Lonegro</TD>
    <TD>&#160;</TD>
    <TD>&#160;</TD>
    <TD STYLE="text-align: right">20,608</TD>
    <TD>&#160;</TD>
    <TD>&#160;</TD>
    <TD>&#160;</TD>
    <TD STYLE="text-align: right">*</TD>
    <TD>&#160;</TD></TR>
  <TR STYLE="vertical-align: bottom; background-color: #CAEDFB">
    <TD>Executive Officers and Directors as a Group (6 persons)</TD>
    <TD>&#160;</TD>
    <TD>&#160;</TD>
    <TD STYLE="text-align: right">1,333,914</TD>
    <TD></TD>
    <TD>&#160;</TD>
    <TD>&#160;</TD>
    <TD STYLE="text-align: right">10.83</TD>
    <TD>%</TD></TR>
  </TABLE>
<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify">&#160;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify">&#8212;&#8212;&#8212;&#8212;&#8212;&#8212;&#8212;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0">*Denotes less than 1%</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0">&#160;</P>

<TABLE CELLSPACING="0" CELLPADDING="0" STYLE="font: 10pt Times New Roman, Times, Serif; width: 100%; border-collapse: collapse">
  <TR STYLE="vertical-align: top">
    <TD STYLE="width: 3%">(1)</TD>
    <TD STYLE="text-align: justify; width: 97%">Based on Amendment No. 8 to Schedule 13G/A filed by Bleichroeder LP (&#8220;Bleichroeder&#8221;) with the SEC on March 21, 2025 (the &#8220;Bleichroeder 13G/A&#8221;). According to the Bleichroeder 13G/A, Bleichroeder is an investment advisor registered under Section 203 of the Investment Advisers Act of 1940 and as of March 21, 2025 was deemed to be the owner of 1,283,162 shares of our Common Stock (21 April Fund, Ltd. held 929,522 shares and 21 April Fund, LP held 353,640 shares) as a result of acting as investment advisor to various clients. The 21 April Entities also purchased 999 shares of Series D Preferred Stock on September 30, 2022, which are convertible into 333,000 shares of Common Stock (21 April Fund, Ltd. holds 237,000 common equivalent shares and 21 April Fund, LP holds 96,000 common equivalent shares). The 21 April Entities also purchased 4,000 shares of Series E Preferred Stock on March 27, 2023, which were convertible into 1,333,334 shares of Common Stock (21 April Fund, Ltd. held 933,334 common equivalent shares and 21 April Fund, LP held 400,000 common equivalent shares). The 21 April Entities also purchased an additional 2,500 shares of Series E Preferred Stock on November 10, 2023, which were convertible into 833,333 shares of Common Stock (21 April Fund, Ltd. held 508,333 common equivalent shares and 21 April Fund, LP held 325,000 common equivalent shares). The 21 April Entities also purchased an additional 1,000 shares of Series E Preferred Stock on March 22, 2024, which were convertible into 333,334 shares of Common Stock (21 April Fund, Ltd. held 281,334 common equivalent shares and 21 April Fund, LP held 52,000 common equivalent shares). The 21 April Entities exchanged 5,000 shares of Series F Preferred Stock that were acquired in connection with the Purchase Agreement of Series F Convertible Preferred Stock, completed on August 2, 2023. The 5,000 shares of Series F Preferred Stock, originally convertible into 806,452 common shares, were exchanged for 5,000 shares of Series E Convertible Preferred Stock on November 10, 2023, which were convertible into 1,666,667 shares of Common Stock, representing an additional 860,215 common share equivalents (21 April Fund, Ltd. then held 1,116,667 common equivalent shares and 21 April Fund, LP then held 550,000 common equivalent shares). On September 19, 2024, the conversion price for Series E Preferred Stock was lowered to $2.61 from $3.00 per share, resulting in an additional 622,606 shares of Common Stock being issuable upon conversion (21 April Fund, Ltd. adding an additional 424,318 common equivalent shares and 21 April Fund, LP adding an additional 198,287 common equivalent shares). Conversion of the Series D Preferred Stock and the Series E Preferred Stock owned by the 21 April Entities is subject to a 19.99% beneficial ownership limitation. Due to the beneficial ownership limitations, included in the above number of shares of Common Stock beneficially owned are 1,283,162 shares of Common Stock and an aggregate of 1,407,376 shares of Common Stock issuable upon conversion of the Series D Preferred Stock and/or the Series E Preferred Stock. All other shares are excluded. If there were no beneficial ownership limitations, Bleichroeder would be deemed to beneficially own 6,750,079 shares of Common Stock, representing 38.54% of the outstanding shares of Common Stock.</TD></TR>
</TABLE>

<P STYLE="margin: 0">&#160;</P>

<P STYLE="margin: 0"></P>

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<TABLE CELLSPACING="0" CELLPADDING="0" STYLE="font: 10pt Times New Roman, Times, Serif; width: 100%; border-collapse: collapse">
  <TR STYLE="vertical-align: top">
    <TD STYLE="text-align: justify; width: 3%">(2)</TD>
    <TD STYLE="text-align: justify; width: 97%">Based on Amendment No. 5 to Schedule 13D/A filed by Norman H. Pessin, Sandra F. Pessin and Brian L. Pessin with the SEC on October 7, 2022 disclosing that Norman H. Pessin owns 57,972 shares of our Common Stock, Sandra F. Pessin beneficially owns 1,221,062 shares of our Common Stock and Brian L. Pessin beneficially owns 180,911 shares of our Common Stock.</TD></TR>
  <TR STYLE="vertical-align: top">
    <TD STYLE="text-align: justify">(3)</TD>
    <TD STYLE="text-align: justify">Includes (i) 552,889 shares of our Common Stock which are subject to a three-year cliff vesting period and vest on January 1, 2028, (ii) 4,396 shares of our Common Stock owned by Mr. Ferry, and (iii) 9,773 shares of our Common Stock owned by Mr. Ferry in a joint account with his spouse.</TD></TR>
  <TR STYLE="vertical-align: top">
    <TD STYLE="text-align: justify">(4)</TD>
    <TD STYLE="text-align: justify">Includes (i) 441,275 shares of our Common Stock which are subject to a three-year cliff vesting period and vest on January 1, 2028, and (ii) 3,266 shares of our Common Stock owned by Mr. Goldfarb.</TD></TR>
  <TR STYLE="vertical-align: top">
    <TD STYLE="text-align: justify">(5)</TD>
    <TD STYLE="text-align: justify">Such shares of our Common Stock are subject to a three-year cliff vesting period and vest on January 1, 2028.</TD></TR>
  <TR STYLE="vertical-align: top">
    <TD STYLE="text-align: justify">(6)</TD>
    <TD STYLE="text-align: justify">Includes (i) 10,000 shares of our Common Stock which are subject to a one-year cliff vesting period and vest on April 1, 2026, and (ii) 36,447 shares of our Common Stock owned by Mr. Mavrommatis. </TD></TR>
  </TABLE>
<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0">&#160;</P>

<P STYLE="font: bold 10pt Times New Roman, Times, Serif; margin: 0 0 12pt; text-transform: uppercase; text-align: center"><FONT ID="a_0016"></FONT>CERTAIN RELATIONSHIPS
AND RELATED PARTY TRANSACTIONS</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0 0 12pt; text-align: justify">Frank Lonegro serves on the Board of Directors
and is a member of the Audit Committee. Mr. Lonegro is the Chief Executive Officer of Landstar System, Inc. (&#8220;Landstar&#8221;),
based in Jacksonville, Florida. The Company has previously utilized Landstar for shipping services including transporting large items.
Most recently, Landstar was the designated vendor involved in shipping an Edge Data Center to an Amtrak site in Secaucus, New Jersey.
Mr. Lonegro was not involved in the selection of his company by the Company, with which there was an existing relationship pre-dating
Mr. Lonegro&#8217;s appointment to the Board of the Company. Mr. Lonegro did not participate in any Board discussions or votes relating
to the selection of Landstar nor approval of the transactions with Landstar. The terms of these transactions were reviewed and approved
by the management team. For the three months ended March 31, 2025 and March 31, 2024, the Company expensed $8,690 and zero, respectively,
on transactions relating to Landstar. For the three months ended March 31, 2025 and March 31, 2024, the amounts owed were zero and zero
, respectively, and are included in accounts payable in the accompanying balance sheets.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0 0 12pt; text-align: justify">In the fourth quarter of 2022, the Company
elected to not renew a support contract with an existing customer due to a change in focus by the Company away from its Integrated Correctional
Automation System (&#8220;iCAS&#8221;) business and the limited amount of revenue expected from that business going forward. On June 29,
2023, the Company completed a transaction whereby it sold assets related to its iCAS business and a recommendation to that customer to
engage with the eventual buyer going forward. The transaction was completed with a third-party buyer of which the Company&#8217;s then
former and now current Chief Financial Officer is a director. The former officer, who was rehired as our CFO in May of 2024, did not participate
in the transaction on behalf of the Company which was negotiated by the CEO.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0 0 12pt; text-align: justify">In late 2024, Duos engaged with FIG to assist
in FIG&#8217;s purchase of approximately 850 Mega Watts of electrical generation capacity (consisting of 30 mobile gas turbine generators)
and associated equipment to support their installation and operation (&#8220;balance of plant&#8221;). In late November 2024, Sawgrass
Buyer LLC, an entity formed and owned by FIG, executed an asset purchase agreement with Atlas Corporation, APR Energy Holdings Limited
and a number of its wholly-owned affiliates (collectively, &#8220;APR&#8221;). Chuck Ferry, our CEO, was formerly the CEO of APR from
2018 to 2020. The transaction closed on December 31, 2024. At Closing, Sawgrass Buyer LLC entered into an Asset Management Agreement (&#8220;AMA&#8221;)
with the Company under which a substantial portion of company staff, including certain members of the management team (including Mr. Ferry),
would oversee operations of Sawgrass Buyer LLC. The AMA term is two years and subject to customary cancellation provisions. At closing,
the Company also received a 5% non-voting equity ownership interest in Sawgrass APR Holdings, LLC (&#8220;Sawgrass Parent&#8221;), the
ultimate parent company of Sawgrass Buyer LLC. As part of the transaction, certain members of the Company&#8217;s management team, including
Charles Ferry, Duos&#8217; Chief Executive Officer, and Christopher King, Duos&#8217; Chief Operating Officer, will serve in similar positions
with New APR in addition to their roles at the Company. Mr. Ferry will also be Executive Chairman and a member of the Board of New APR.
Mr. Goldfarb, the Company&#8217;s CFO, will be an observer on the board of New APR but will have no executive role or management responsibilities
at the new entity. The Company will continue to pay the full compensation for Mr. Ferry, Mr. King and one other employee, with New APR
covering 50% of that cost.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0 0 12pt; text-align: justify">As a result of the relationships between Duos
Energy Corporation and the FIG related entities described above, Sawfrass APR Holdings LLC (&#34;Sawgrass Parent&#34;) and New APR Energy,
LLC (&#34;New APR&#34;) are considered related parties to the Company.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0 0 12pt; text-align: justify">In 2024, the Company borrowed $2,200,000 from
two lenders that are related parties because together they hold more than 10% of the Company&#8217;s voting common stock. The Company
began early repayments of the loan in the amount of $1.0 million, during the first three months ended March 31, 2025.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0 0 12pt; text-align: justify"><B><I>Policy on Future Related Party Transactions</I></B></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0 0 12pt; text-align: justify">The Company requires that any related party
transactions must be approved by a majority of the Company&#8217;s independent directors and also be approved by the Company&#8217;s Corporate
Governance and Nominating Committee.</P>

<P STYLE="font: bold 10pt Times New Roman, Times, Serif; margin: 0 0 12pt; text-transform: uppercase; text-align: center"></P>

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<P STYLE="font: bold 10pt Times New Roman, Times, Serif; margin: 0 0 12pt; text-transform: uppercase; text-align: center"><FONT ID="a_0017"></FONT>DESCRIPTION
OF CAPITAL STOCK</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0 0 12pt; text-align: justify">In the discussion that follows, we have summarized
selected provisions of our certificate of incorporation, bylaws and the Florida Business Corporation Act relating to our capital stock.
This summary is not complete. This discussion is subject to the relevant provisions of Florida law and is qualified by reference to our
certificate of incorporation and our bylaws. You should read the provisions of our certificate of incorporation and our bylaws as currently
in effect for provisions that may be important to you.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0 0 12pt; text-align: justify"><I>Market Information</I></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0 0 12pt; text-align: justify">Our common stock is quoted on the Nasdaq Capital
Markets (&#8220;Nasdaq&#8221;) under the trading symbol &#8220;DUOT&#8221;.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0 0 12pt; text-align: justify"><I>Authorized Capital</I></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0 0 12pt; text-align: justify">The Company is authorized to issue an aggregate
number of 510,000,000 shares of capital stock, of which 10,000,000 shares are blank check preferred stock, $0.001 par value per share,
and 500,000,000 shares are common stock, $0.001 par value per share.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0 0 12pt; text-align: justify"><B>Preferred Stock</B></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0 0 12pt; text-align: justify">The Company has 10,000,000 authorized shares
of preferred stock par value $0.001 per share. Six series of preferred stock have been authorized to date. As of June 30, 2025, the Series
A Preferred Stock has 0 shares issued and outstanding, the Series B Preferred Stock has 0 shares issued and outstanding, the Series C
Preferred Stock has 0 shares issued and outstanding, the Series D Preferred Stock has 999 shares issued and outstanding, the Series E
Preferred Stock has 12,500 shares issued and outstanding. and the Series F Preferred Stock has 0 shares issued and outstanding.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0 0 12pt; text-align: justify">Our Board has the authority, within the limitations
and restrictions in our certificate of incorporation, to issue shares of preferred stock in one or more series and to fix the rights,
preferences, privileges and restrictions thereof, including dividend rights, dividend rates, conversion rights, voting rights, terms of
redemption, redemption prices, liquidation preferences and the number of shares constituting any series or the designation of any series,
without further vote or action by the stockholders. The issuance of shares of preferred stock may have the effect of delaying, deferring
or preventing a change in our control without further action by the stockholders. The issuance of shares of preferred stock with voting
and conversion rights may adversely affect the voting power of the holders of our common stock. In some circumstances, this issuance could
have the effect of decreasing the market price of our common stock.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0 0 12pt; text-align: justify">Undesignated preferred stock may enable our
Board to render more difficult or to discourage an attempt to obtain control of the Company by means of a tender offer, proxy contest,
merger or otherwise, and thereby to protect the continuity of our management. The issuance of shares of preferred stock may adversely
affect the rights of our common stockholders. For example, any shares of preferred stock issued may rank senior to the common stock as
to dividend rights, liquidation preference or both, may have full or limited voting rights and may be convertible into shares of common
stock. As a result, the issuance of shares of preferred stock, or the issuance of rights to purchase shares of preferred stock, may discourage
an unsolicited acquisition proposal or bids for our common stock or may otherwise adversely affect the market price of our common stock
or any existing preferred stock.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0 0 12pt; text-align: justify"><B>Series A Convertible Preferred Stock</B></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0 0 12pt; text-align: justify">Our board of directors has designated 500,000
of the 10,000,000 authorized shares of preferred stock as Series A Convertible Preferred Stock.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0 0 12pt; text-align: justify">There are 0 shares of Series A Convertible
Preferred Stock outstanding.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0 0 12pt; text-align: justify"></P>

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<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0 0 12pt; text-align: justify"><B>Series B Convertible Preferred Stock</B></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0 0 12pt; text-align: justify">Our board of directors has designated 15,000
of the 10,000,000 authorized shares of preferred stock as Series B Convertible Preferred Stock.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0 0 12pt; text-align: justify">Each share of the Series B Preferred Stock
was convertible into 143 shares of common stock. Holders of Series B Preferred Stock voted together with the holders of common stock on
an as-converted basis (subject to the applicable beneficial ownership limitation) on all matters on which holders of the common stock
are entitled to vote.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0 0 12pt; text-align: justify">There are 0 shares of Series B Preferred Stock
outstanding.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0 0 12pt; text-align: justify"><B>Series C Preferred Stock</B></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0 0 12pt; text-align: justify">Our board of directors has designated 5,000
of the 10,000,000 authorized shares of preferred stock as Series C Convertible Preferred Stock.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0 0 12pt; text-align: justify">Each share of the Series C Preferred Stock
was convertible into 182 shares of common stock. Holders of Series C Preferred Stock had 172 votes (subject to the applicable beneficial
ownership limitation) for each share of Series C Preferred Stock and voted together with the holders of common stock on all matters on
which holders of the common stock are entitled to vote.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0 0 12pt; text-align: justify">There are 0 shares of Series C Preferred Stock
outstanding.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0 0 12pt; text-align: justify"><B>Series D Preferred Stock</B>&#160;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify">Our board of directors has designated 4,000 of the 10,000,000 authorized
shares of preferred stock as Series E Convertible Preferred Stock.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0">&#160;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0 0 12pt; text-align: justify">Each share of Series D Convertible Preferred
Stock is convertible at any time at the holder&#8217;s option into a number of shares of common stock equal to $1,000 divided by the conversion
price of $3.00 per share. Notwithstanding the foregoing, we shall not effect any conversion of Series D Convertible Preferred Stock, with
certain exceptions, to the extent that, after giving effect to an attempted conversion, the holder of shares of Series D Convertible Preferred
Stock (together with such holder&#8217;s affiliates, and any persons acting as a group together with such holder or any of such holder&#8217;s
affiliates) would beneficially own a number of shares of our common stock in excess of 4.99% (or, at the election of the purchaser, 19.99%)
of the shares of our common stock then outstanding after giving effect to such exercise. Holders of Series D Convertible Preferred will
vote on all matters on which the holders of common stock are entitled to vote and will have 333 votes per share, subject to beneficial
ownership limitations.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0 0 12pt; text-align: justify">As of June 30, 2025, there are 999 shares of
Series D Convertible Preferred Stock issued and outstanding.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0 0 12pt; text-align: justify"><B>Series E Convertible Preferred Stock</B></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0 0 12pt; text-align: justify">Our board of directors has designated 30,000
of the 10,000,000 authorized shares of preferred stock as Series E Convertible Preferred Stock.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0 0 12pt; text-align: justify">Each share of Series E Convertible Preferred
Stock is convertible at any time at the holder&#8217;s option into a number of shares of common stock equal to $1,000 divided by the conversion
price. The conversion price originally was $3.00 per share but was reduced to $2.61 as described below. Notwithstanding the foregoing,
we shall not effect any conversion of Series E Convertible Preferred Stock, with certain exceptions, to the extent that, after giving
effect to an attempted conversion, the holder of shares of Series E Convertible Preferred Stock (together with such holder&#8217;s affiliates,
and any persons acting as a group together with such holder or any of such holder&#8217;s affiliates) would beneficially own a number
of shares of our common stock in excess of 4.99% (or, at the election of the purchaser, 19.99%) of the shares of our common stock then
outstanding after giving effect to such exercise. Holders of Series E Convertible Preferred will vote on all matters on which the holders
of common stock are entitled to vote and will have 333 votes per share, subject to beneficial ownership limitations. The Company also
agreed that it would not, with certain exceptions, sell or issue common stock or Common Stock Equivalents (as defined in the Purchase
Agreement relating to the Series E Preferred Stock) on or prior to June 30, 2024 that entitled any person to acquire shares of common
stock at an effective price per share less than the then conversion price of the Series E Preferred Stock without the consent of the purchasers
in a Series E offering from November 2023 (the &#8220;November Purchase Agreement&#8221;).</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0 0 12pt; text-align: justify"></P>

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<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0 0 12pt; text-align: justify">On March 22, 2024 and March 28, 2024, the Company
entered into Securities Purchase Agreements (the &#8220;Purchase Agreements&#8221;) with certain existing and other accredited investors
(the &#8220;2024 Purchasers&#8221;). Pursuant to the Purchase Agreements, the 2024 Purchasers purchased an aggregate of 2,125 shares of
Series E. Convertible Preferred Stock, at a price in each case of $1,000 per share, and the Company received proceeds of $2,125,002. Those
Purchase Agreements had similar price protections as the November Purchase Agreement but extended the price protection date to December
31, 2024, for all Series E holders.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0 0 12pt; text-align: justify">On September 19, 2024, the conversion price
was lowered to $2.61 from $3.00 per share based on the down-round protection provision triggered by the warrants induced exercise price
of $2.61 per share.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0 0 12pt; text-align: justify">As of June 30, 2025, there were 12,500 shares
of Series E Convertible Preferred Stock issued and outstanding.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0 0 12pt; text-align: justify"><B>Series F Convertible Preferred Stock</B></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0 0 12pt; text-align: justify; color: #222222">The Company's Board of Directors
designated 5,000 shares as the Series F Preferred Stock. Each share of Series F Preferred Stock was convertible, at any time and from
time to time, at the option of the holder, into that number of shares of common stock (subject to the beneficial ownership limitation
described below) determined by dividing the stated value of such share ($1,000) by the conversion price, which was $6.20 (subject to standard
anti-dilution provisions). The Company, however, shall not effect any conversion of the Series F Preferred Stock, and the holder shall
not have the right to convert any portion of the Series F Preferred Stock, to the extent that after giving effect to the conversion sought
by the holder such holder (together with such holder&#8217;s Attribution Parties (as defined in the Certificate of Designation)) would
beneficially own more than 4.99% (or upon election by a holder, 19.99%) of the number of shares of common stock outstanding immediately
after giving effect to the issuance of shares of common stock issuable upon such conversion. The purchasers of the Series F Preferred
Stock elected that their ownership limitation will be 19.99%.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0 0 12pt; text-align: justify; color: #222222">The holders of the Series F
Preferred Stock, the holders of the common stock and the holders of any other class or series of shares entitled to vote with the common
stock shall vote together as one class on all matters submitted to a vote of shareholders of the Company. Each share of Series F Preferred
Stock had 161 votes (subject to adjustment); provided that in no event may a holder of Series F Preferred Stock be entitled to vote a
number of shares in excess of such holder&#8217;s ownership limitation.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0 0 12pt; text-align: justify; color: #222222">The Company also agreed that
it would not, with certain exceptions, sell or issue common stock or Common Stock Equivalents (as defined in the Purchase Agreement relating
to the Series F Preferred Stock) on or prior to December 31, 2023 that entitled any person to acquire shares of common stock at an effective
price per share less than the then conversion price of the Series F Preferred Stock without the consent of the holders. As a result of
that agreement, upon the issuance of 2,500 shares of Series E Preferred Stock (which had a conversion price of $3.00 per share) on November
10, 2023, the holders exchanged their 5,000 shares of Series F Preferred Stock for 5,000 shares of Series E Preferred Stock.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0 0 12pt; text-align: justify"><FONT STYLE="color: #222222">All of the shares
of Series F Preferred Stock thereupon were cancelled with 0 shares now outstanding.</FONT>&#160;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0 0 12pt; text-align: justify"><B>Options and Warrants</B></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0 0 12pt; text-align: justify">As of June 30, 2025, there are 485,125 outstanding
options to purchase shares of our common stock. The weighted average exercise price of these options is $5.30, the average term when issued
was five years and the average term remaining is two years.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0 0 12pt; text-align: justify">As of June 30, 2025, there are no warrants
outstanding to purchase shares of our common stock.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0 0 12pt; text-align: justify"><B>Dividends</B></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0 0 12pt; text-align: justify">To date, we have not paid any dividends on
our common stock and do not anticipate paying any such dividends in the foreseeable future. The declaration and payment of dividends on
the common stock is at the discretion of our board of directors and will depend on, among other things, our operating results, financial
condition, capital requirements, contractual restrictions or such other factors as our board of directors may deem relevant. We currently
expect to use all available funds to finance the future development and expansion of our business and do not anticipate paying dividends
on our common stock in the foreseeable future.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0 0 12pt; text-align: justify"><B>Transfer Agent</B></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0 0 12pt; text-align: justify">The transfer agent and registrar for our Common
Stock is Continental Stock Transfer &amp; Trust, 1 State Street, 30th Floor, New York, NY 10004-1561.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0 0 12pt; text-align: justify"></P>

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<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0 0 12pt; text-align: justify"><B>Florida Anti-Takeover Law and Certain Charter
and Bylaw Provisions</B></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0 0 12pt; text-align: justify">Certain provisions of Florida law and our Charter
and bylaws could make it more difficult to acquire us by means of a tender offer, a proxy contest or otherwise, or to remove incumbent
officers and directors. These provisions, summarized below, may discourage certain types of takeover practices and takeover bids, and
encourage persons seeking to acquire control of our Company to first negotiate with us. We believe that the potential ability to negotiate
with the proponent of an unfriendly or unsolicited proposal to acquire or restructure us outweigh the disadvantages of discouraging such
proposals because, among other things, negotiation of such proposals could result in an improvement of their terms.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0 0 12pt; text-align: justify"><B>Florida Law</B></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0 0 12pt; text-align: justify">As a Florida corporation, we are subject to
certain anti-takeover provisions that apply to public corporations under Florida law.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0 0 12pt; text-align: justify">Pursuant to Section 607.0901 of the Florida
Business Corporation Act, or the FBCA, a publicly held Florida corporation, under certain circumstances, may not engage in a broad range
of business combinations or other extraordinary corporate transactions with an interested shareholder without the approval of the holders
of two-thirds of the voting shares of the corporation (excluding shares held by the interested shareholder).</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0 0 12pt; text-align: justify">An interested shareholder is defined as a person
who, together with affiliates and associates, beneficially owns more than 15% of a corporation&#8217;s outstanding voting shares. We have
not made an election in our amended Articles of Incorporation to opt out of Section 607.0901.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0 0 12pt; text-align: justify">In addition, we are subject to Section 607.0902
of the FBCA which prohibits the voting of shares in a publicly held Florida corporation that are acquired in a control share acquisition
unless (i) our Board of Directors approved such acquisition prior to its consummation or (ii) after such acquisition, in lieu of prior
approval by our Board of Directors, the holders of a majority of the corporation&#8217;s voting shares, exclusive of shares owned by officers
of the corporation, employee directors or the acquiring party, approve the granting of voting rights as to the shares &#160;acquired in
the control share acquisition. A control share acquisition is defined as an acquisition that immediately thereafter entitles the acquiring
party to 20% or more of the total voting power in an election of directors.</P>

<P STYLE="font: bold 10pt Times New Roman, Times, Serif; margin: 0 0 12pt; text-transform: uppercase; text-align: center"><FONT ID="a_0018"></FONT>INTERESTS OF
NAMED EXPERTS AND COUNSEL</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0 0 12pt; text-align: justify">No expert or counsel named in this prospectus
as having prepared or certified any part of this prospectus or having given an opinion upon the validity of the securities being registered
or upon other legal matters in connection with the registration or offering of the Common Stock was employed on a contingency basis, or
had, or is to receive, in connection with the offering, a substantial interest, direct or indirect, in the registrant or any of its parents
or subsidiaries. Nor was any such person connected with the registrant or any of its parents or subsidiaries as a promoter, managing or
principal underwriter, voting trustee, director, officer, or employee.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0 0 12pt; text-align: justify">Our consolidated balance sheets as of December
31, 2024 and 2023, and the related consolidated statements of operations, changes in stockholders&#8217; equity, and cash flows for each
of the two years in the period ended December 31, 2024 have been audited by Salberg &amp; Company, P.A., an independent registered public
accounting firm, as set forth in its report appearing herein and are included in reliance upon such report given on the authority of such
firm as experts in accounting and auditing.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0 0 12pt; text-align: justify">The validity of the Common Stock offered by
this prospectus will be passed upon for us by Shutts &amp; Bowen LLP.</P>

<P STYLE="font: bold 10pt Times New Roman, Times, Serif; margin: 0 0 12pt; text-transform: uppercase; text-align: center"><FONT ID="a_0019"></FONT>WHERE YOU CAN
FIND MORE INFORMATION</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0 0 12pt; text-align: justify">We are a reporting company and file annual,
quarterly and special reports, and other information with the Securities and Exchange Commission. The SEC maintains a web site at <I>http://</I>www.sec.gov
that contains reports, proxy and information statements and other information regarding registrants that file electronically with the
SEC.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0 0 12pt; text-align: justify">This prospectus is part of a registration statement
on Form S-1 that we filed with the SEC. Certain information in the registration statement has been omitted from this prospectus in accordance
with the rules and regulations of the SEC. We have also filed exhibits and schedules with the registration statement that are excluded
from this prospectus. For further information you may:</P>

<TABLE CELLSPACING="0" CELLPADDING="0" STYLE="font: 10pt Times New Roman, Times, Serif; width: 100%; border-collapse: collapse">
  <TR STYLE="vertical-align: top">
    <TD STYLE="width: 48px; text-align: justify">&#160;</TD>
    <TD STYLE="width: 32px; text-align: justify"><FONT STYLE="font-family: Symbol">&#183;</FONT></TD>
    <TD STYLE="text-align: justify">read a copy of the registration statement, including the exhibits and schedules, without charge at the SEC&#8217;s Public Reference Room; or</TD></TR>
  <TR STYLE="vertical-align: top">
    <TD STYLE="text-align: justify">&#160;</TD>
    <TD STYLE="text-align: justify"><FONT STYLE="font-family: Symbol">&#183;</FONT></TD>
    <TD STYLE="text-align: justify">obtain a copy from the SEC upon payment of the fees prescribed by the SEC.</TD></TR>
  </TABLE>
<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify">&#160;</P>

<P STYLE="font: bold 10pt Times New Roman, Times, Serif; margin: 0 0 12pt; text-transform: uppercase; text-align: center"><FONT ID="a_0020"></FONT>INCORPORATION
OF CERTAIN INFORMATION BY REFERENCE</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0 0 12pt; text-align: justify">The following documents filed by the Company
with the SEC are incorporated by reference into this prospectus. You should carefully read and consider all of these documents before
making an investment decision:</P>

<TABLE CELLSPACING="0" CELLPADDING="0" STYLE="font: 10pt Times New Roman, Times, Serif; width: 100%; border-collapse: collapse">
  <TR STYLE="vertical-align: top">
    <TD STYLE="padding-bottom: 0.05in">&nbsp;</TD>
    <TD STYLE="padding-bottom: 0.05in"><FONT STYLE="font-family: Symbol">&#183;</FONT></TD>
    <TD STYLE="padding-bottom: 0.05in">Our Annual Report on <A HREF="http://www.sec.gov/Archives/edgar/data/1396536/000107997325000555/duos_10k-123124.htm" STYLE="-sec-extract: exhibit">Form 10-K</A> for the year ended December 31, 2024, filed with the SEC on March
    31, 2025;</TD></TR>
  <TR STYLE="vertical-align: top">
    <TD STYLE="padding-bottom: 0.05in; width: 24px">&#160;</TD>
    <TD STYLE="padding-bottom: 0.05in; width: 24px"><FONT STYLE="font-family: Symbol">&#183;</FONT></TD>
    <TD STYLE="padding-bottom: 0.05in">Our <A HREF="http://www.sec.gov/Archives/edgar/data/1396536/000107997325000627/duos_def14a.htm" STYLE="-sec-extract: exhibit">Definitive Proxy Statement</A> filed with the SEC on April 14, 2025;</TD></TR>
  <TR STYLE="vertical-align: top">
    <TD STYLE="padding-bottom: 0.05in">&nbsp;</TD>
    <TD STYLE="padding-bottom: 0.05in"><FONT STYLE="font-family: Symbol">&#183;</FONT></TD>
    <TD STYLE="padding-bottom: 0.05in">Our Quarterly Report on <A HREF="http://www.sec.gov/Archives/edgar/data/1396536/000155335025000046/duot_033125-10q.htm" STYLE="-sec-extract: exhibit">Form 10-Q</A> for the quarter ended March 31, 2025, filed with the SEC on
    May 15, 2025;</TD></TR>
  <TR STYLE="vertical-align: top">
    <TD STYLE="padding-bottom: 0.05in">&#160;</TD>
    <TD STYLE="padding-bottom: 0.05in"><FONT STYLE="font-family: Symbol">&#183;</FONT></TD>
    <TD STYLE="padding-bottom: 0.05in">Our Current Reports on Form 8-K, filed with the SEC on <A HREF="http://www.sec.gov/Archives/edgar/data/1396536/000107997325000038/duot_8k.htm" STYLE="-sec-extract: exhibit">January 6, 2025</A>, <A HREF="http://www.sec.gov/Archives/edgar/data/1396536/000107997325000184/duot_8k.htm" STYLE="-sec-extract: exhibit">February 4, 2025</A>, <A HREF="http://www.sec.gov/Archives/edgar/data/1396536/000107997325000608/duot_8k.htm" STYLE="-sec-extract: exhibit">April 10, 2025</A>, <A HREF="http://www.sec.gov/Archives/edgar/data/1396536/000107997325000648/duot_8k.htm" STYLE="-sec-extract: exhibit">April 15, 2025</A>, <A HREF="http://www.sec.gov/Archives/edgar/data/1396536/000107997325000900/duot_8k.htm" STYLE="-sec-extract: exhibit">May 19, 2025</A>, <A HREF="http://www.sec.gov/Archives/edgar/data/1396536/000107997325000945/duot_8k.htm" STYLE="-sec-extract: exhibit">May 29, 2025</A>, and <A HREF="http://www.sec.gov/Archives/edgar/data/1396536/000107997325000959/duot_8k.htm" STYLE="-sec-extract: exhibit">May 30, 2025</A>; and</TD></TR>
  <TR STYLE="vertical-align: top">
    <TD STYLE="padding-bottom: 0.05in">&#160;</TD>
    <TD STYLE="padding-bottom: 0.05in"><FONT STYLE="font-family: Symbol">&#183;</FONT></TD>
    <TD STYLE="padding-bottom: 0.05in; text-align: justify">The description of our Common Stock contained in <A HREF="http://www.sec.gov/Archives/edgar/data/1396536/000155335022000281/duot_ex4z4.htm" STYLE="-sec-extract: exhibit">Exhibit 4.4</A> to our Annual Report on Form 10-K for the year ended December 31, 2021, filed with the SEC on March 31, 2022, and any amendment or report filed with the SEC for the purpose of updating the description.</TD></TR>
  </TABLE>
<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify">&#160;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0 0 12pt; text-align: justify"></P>

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<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0 0 12pt; text-align: justify">All documents that we file with the SEC under
Sections 13(a), 13(c), 14 or 15(d) of the Exchange Act, after the date of the initial registration statement and prior to the effectiveness
of the registration statement as well as on or after the date of this prospectus and prior to the termination of this offering are also
incorporated herein by reference and will automatically update and supersede information contained or incorporated by reference in this
prospectus and previously filed documents that are incorporated by reference in this prospectus. However, anything herein to the contrary
notwithstanding, no document, exhibit or information or portion thereof that we have &#8220;furnished&#8221; or may in the future &#8220;furnish&#8221;
to (rather than &#8220;file&#8221; with) the SEC, including, without limitation, any document, exhibit or information filed pursuant to
Item 2.02, Item 7.01 and certain exhibits furnished pursuant to Item 9.01 of our Current Reports on Form 8-K, shall be incorporated by
reference into this prospectus.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0 0 12pt; text-align: justify">We will provide to each person, including any
beneficial owner, to whom a prospectus is delivered, a copy of any or all of the reports or documents that have been incorporated by reference
into this prospectus but not delivered with this prospectus. We will provide these reports upon written or oral request at no cost to
the requester. Please direct your request, either in writing or by telephone, to the Secretary, Duos Technologies Group, Inc., 7660 Centurion
Parkway, Suite 100, Jacksonville, Florida 32256, telephone number (904) 652-6616. We maintain a website at http://www.duostechnologies.com.
You may access our annual reports on Form 10-K, quarterly reports on Form 10-Q, current reports on Form 8-K and amendments to those reports
filed or furnished pursuant to Section 13(a) or 15(d) of the Exchange Act with the SEC free of charge at our website as soon as reasonably
practicable after such material is electronically filed with, or furnished to, the SEC. The information contained in, or that can be accessed
through, our website is not incorporated by reference in, and is not part of, this prospectus.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0">&#160;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0">&#160;</P>


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<P STYLE="font: bold 10pt Times New Roman, Times, Serif; margin: 0 0 12pt; text-transform: uppercase; text-align: center"><FONT ID="a_00021"></FONT>INDEX
TO CONSOLIDATED FINANCIAL STATEMENTS</P>

<TABLE CELLSPACING="0" CELLPADDING="0" STYLE="font: 11pt Arial, Helvetica, Sans-Serif; width: 100%; border-collapse: collapse">
  <TR STYLE="vertical-align: bottom; background-color: rgb(204,238,255)">
    <TD><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt"><B><FONT STYLE="text-decoration: underline">Audited Consolidated Financial Statements:</FONT></B></FONT></TD>
    <TD STYLE="text-align: justify"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">&#160;</FONT></TD>
    <TD STYLE="text-align: justify"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">&#160;</FONT></TD>
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<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0"></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0">&#160;&#160;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0"><B>&#160;<IMG SRC="image_007.jpg" ALT=""></B></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0"><B>&#160;</B></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0"><B></B></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: center"><FONT ID="a_025"></FONT><B>Report of Independent Registered Public Accounting
Firm</B></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: center"><B>&#160;</B></P>

<P STYLE="font: 10pt/115% Times New Roman, Times, Serif; margin: 0; text-align: justify">To the Stockholders and the Board of Directors
of:</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify">Duos Technologies Group, Inc.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify">&#160;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify">&#160;<FONT STYLE="text-decoration: underline">Opinion on the Financial Statements</FONT></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify">&#160;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify">We have audited the accompanying consolidated balance
sheets of Duos Technologies Group, Inc. and Subsidiaries (the &#8220;Company&#8221;) as of December 31, 2024 and 2023, the related consolidated
statements of operations, changes in stockholders&#8217; equity and cash flows for each of the two years in the period ended December
31, 2024 and the related notes (collectively referred to as the &#8220;consolidated financial statements&#8221;). In our opinion, the
consolidated financial statements present fairly, in all material respects, the consolidated financial position of the Company as of December
31, 2024 and 2023, and the consolidated results of its operations and its cash flows for each of the two years in the period ended December
31, 2024, in conformity with accounting principles generally accepted in the United States of America.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify">&#160;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify"><FONT STYLE="text-decoration: underline">Basis for Opinion</FONT></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify">&#160;</P>

<P STYLE="font: 12pt Arial, Helvetica, Sans-Serif; margin: 0; text-align: justify"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt"></FONT></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify">These consolidated financial statements are the
responsibility of the Company&#8217;s management. Our responsibility is to express an opinion on the Company&#8217;s consolidated
financial statements based on our audits. We are a public accounting firm registered with the Public Company Accounting Oversight
Board (United States) (&#8220;PCAOB&#8221;) and are required to be independent with respect to the Company in accordance with the
U.S. federal securities laws and the applicable rules and regulations of the Securities and Exchange Commission and the PCAOB. We
conducted our audits in accordance with the standards of the PCAOB. Those standards require that we plan and perform the audits to
obtain reasonable assurance about whether the consolidated financial statements are free of material misstatement, whether due to
error or fraud. The Company is not required to have, nor were we engaged to perform, an audit of internal control over financial
reporting. As part of our audits we are required to obtain an understanding of internal control over financial reporting but not for
the purpose of expressing an opinion on the effectiveness of the Company&#8217;s internal control over financial reporting.
Accordingly, we express no such opinion. Our audits included performing procedures to assess the risks of material misstatement of
the consolidated financial statements, whether due to error or fraud, and performing procedures that respond to those risks. Such
procedures included examining, on a test basis, evidence regarding the amounts and disclosures in the consolidated financial
statements. Our audits also included evaluating the accounting principles used and significant estimates made by management, as well
as evaluating the overall presentation of the consolidated financial statements. We believe that our audits provide a reasonable
basis for our opinion.</P>
<P STYLE="font: 12pt Arial, Helvetica, Sans-Serif; margin: 0; text-align: justify"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt"></FONT></P>

<P STYLE="font: 12pt Arial, Helvetica, Sans-Serif; margin: 0; text-align: justify"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">&#160;</FONT></P>

<P STYLE="font: 12pt Arial, Helvetica, Sans-Serif; margin: 0; text-align: justify"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt"><FONT STYLE="text-decoration: underline">Critical
Audit Matters</FONT></FONT></P>

<P STYLE="font: 11pt Times New Roman, Times, Serif; margin: 0; text-align: justify">&#160;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify">The critical audit matters communicated below are
matters arising from the current period audit of the consolidated financial statements that were communicated or required to be communicated
to the audit committee and that: (1) relate to accounts or disclosures that are material to the consolidated financial statements and
(2) involved our especially challenging, subjective, or complex judgments. The communication of critical audit matters does not alter
in any way our opinion on the consolidated financial statements, taken as a whole, and we are not, by communicating the critical audit
matters below, providing separate opinions on the critical audit matters or on the accounts or disclosures to which they relate.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify"></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify"><I>&#160;</I></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify"><I>Equity Method Investment</I></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify"><I>&#160;</I></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify">As described in Footnote 1 &#8220;Equity Method
Investments&#8221; and Footnote 9 &#8220;Equity Investment &#8211; Sawgrass APR Holdings LLC&#8221;, the Company entered into an
Asset Management Agreement (&#8220;AMA&#8221;) with Sawgrass Buyer LLC (&#8220;Sawgrass&#8221;). Under the AMA, the Company will
manage the deployment and operations of a fleet of mobile gas turbines and balance-of-plant inventory providing management, sales
and operations functions. A substantial portion of the Company staff and management would oversee operations of Sawgrass. In
connection with this agreement, the company received an initial cash payment and common units in Sawgrass.</P>

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<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify">We identified the accounting for the common units
received in Sawgrass as a critical audit matter. The determination of whether to consolidate Sawgrass as a variable interest entity or
use cost method or equity method for the investment and the valuation of the investment is complex and requires estimates which can be
subjective. Further, the units are considered received as non-monetary consideration from a customer, which accounting is complex.&#160;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify">&#160;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify">&#160;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0 0 0 0.5in; text-align: center; color: #333399">2295 NW Corporate Blvd.,
Suite 240 &#8226; Boca Raton, FL 33431</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0 0 0 0.5in; text-align: center; color: #333399">Phone: (561) 995-8270 &#8226;
Toll Free: (866) CPA-8500 &#8226; Fax: (561) 995-1920</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0 0 0 0.5in; text-align: center; color: #333399">www.salbergco.com &#8226;
info@salbergco.com</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0 0 0 0.5in; text-align: center; color: #333399"><I>Member National Association
of Certified Valuation Analysts &#8226; Registered with the PCAOB</I></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0 0 0 0.5in; text-align: center; color: #333399"><FONT STYLE="letter-spacing: 0.5pt"><I>Member
CP</I></FONT><I><FONT STYLE="letter-spacing: 0.2pt">AC</FONT><FONT STYLE="letter-spacing: 0.5pt">onnect with Affiliated Offices Worldwide
</FONT></I><FONT STYLE="letter-spacing: 0.5pt">&#8226; <I>Member Center for Public Company Audit Firms</I></FONT></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify">&#160;</P>


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<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0">&#160;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify">The primary procedures we performed to address these
critical audit matters included (a) Reviewed the AMA agreement. (b) Audited management&#8217;s analysis and conclusion as to whether Sawgrass
should be consolidated as a variable interest entity or the value of the common units received should be accounted for under the equity
method or cost method and compared such analysis to authoritative and interpretive guidance, (c) Gained an understanding of management&#8217;s
process to value the investment, (d) Audited the Company&#8217;s fair value valuation of the investment including the propriety of the
valuation method used, the reliability and relevancy of data used and the reasonableness of significant assumptions used in the estimate,
(e) Recomputed the resulting fair value to test the accuracy of the valuation estimate, (f) Tested management&#8217;s conclusion that
the non-monetary consideration received represents consideration from a customer to be accounted for under ASC 606 &#8220;Revenue from
contracts with customers&#8221;, and (g) Compared the financial statement presentation to authoritative or interpretive literature. We
agree with management&#8217;s conclusions.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify"><I>&#160;</I></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify"><I>Percentage of Completion Revenue Recognition &amp;
Related Contract Assets and Contract Liabilities</I></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify"><I>&#160;</I></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify">As described in footnote 1, &#8220;Revenue Recognition
&#8211; Technology Systems&#8221; and footnote 11, &#8220;Revenues and Contract Accounting&#8221; to the consolidated financial statements,
the Company recognizes revenue over time using a cost-based input methodology in which significant judgement is required to determine
estimated costs to complete projects. These estimated costs are then used to determine the progress towards contract completion and the
corresponding amount of revenue to recognize. In addition, contract assets on uncompleted contracts represent cumulative revenues in excess
of billings on uncompleted contracts accounted for under the percentage of completion contract method. Contract liabilities on uncompleted
contracts represent billings that exceed cumulative revenues recognized on uncompleted contracts accounted for under the percentage of
completion contract method.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify">&#160;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify">We identified this percentage of completion revenue
recognition as a critical audit matter. Auditing management&#8217;s estimates and judgments regarding forecasts of total estimated costs
to complete projects is especially challenging and complex.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify">&#160;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify">The primary procedures we performed to address this
critical audit matter included (a) evaluated the reasonableness of management&#8217;s cost estimates to complete projects by gaining an
understanding of the management&#8217;s process to develop the estimates, comparing them to historical information, year-to-date current
information, information available on projects subsequent to year end, and other supporting information, (b) performed ratio analysis
and gross margin comparisons when applicable on a sample of technology systems revenues (c) agreed cost details to supporting documents,
(d) traced cash receipts from customers to bank statements, (e) recomputed the revenue earned and recognized, and (f) recomputed the contract
asset or liability. We agree with management&#8217;s conclusions.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify"><I>&#160;</I></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify"><I>&#160;Analysis of Liquidity and Going Concern</I></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify"><I>&#160;</I></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify">As summarized in Footnote 2 &#8220;Liquidity&#8221;
to the consolidated financial statements, the Company has a history of net losses and net cash used in operating activities and believes
such conditions will continue for a period of time into the future. These are considered adverse conditions or events that lead management
to consider whether there is substantial doubt about the ability of the Company to continue as a going concern for a reasonable period
of time or whether such concerns are alleviated with management&#8217;s plans.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify">&#160;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify">We identified the going concern risk analysis as a
critical audit matter. Auditing management&#8217;s going concern analysis including their process to develop the analysis and the projections
of future cash flows, operating trends, and assessments of internal and external matters that may affect the Company&#8217;s future operations
and cash flows involved a high degree of subjectivity. Additionally, auditing management&#8217;s plans to address the going concern risk
involved highly subjective auditor judgment.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify">&#160;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify">The primary procedures we performed to address this
critical audit matter included (a) assessed the reasonableness of management&#8217;s process for developing their assessment of whether
a going concern risk exists, (b) assessed the reasonableness of assumptions management used in their future cash flow projections, consideration
of positive and negative evidence impacting management&#8217;s forecasts, and consideration of the Company&#8217;s financing arrangements
in place as of the report date, (c) developed our own independent calculation of expected source and use of funds and needs of the Company
over the one year period from the date of issuance of the consolidated financial statements, (d) tested management&#8217;s bank reconciliations
and confirmed cash balances as of December 31, 2024 with the banks and inspected the bank balances after the January and February 2025
stock subscriptions (e) identified management&#8217;s plans for dealing with the adverse conditions and events discussed above and assessed
the reasonableness of the assumptions of such plans, (f) assessed whether it is probable that management&#8217;s plans, when implemented,
will mitigate the adverse effects of the conditions and events discussed above, (g) concluded whether substantial doubt exists as to whether
the Company can continue as a going concern for a period of one year after the consolidated financial statements are issued and (h) considered
the effect of such conclusion on the consolidated financial statement disclosures and our report of an independent registered public accounting
firm. We agree with management&#8217;s conclusions</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify">&#160;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify"></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify"></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify"></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify">&#160;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify">/s/ Salberg &amp; Company, P.A.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify"><I>&#160;</I></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify">SALBERG &amp; COMPANY, P.A.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify">We have served as the Company&#8217;s auditor since
2013</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify">Boca Raton, Florida</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify">March 31, 2025</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify">&#160;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: center"><B>&#160;</B></P>


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<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0"></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: center"><B>DUOS TECHNOLOGIES GROUP, INC. AND SUBSIDIARIES</B></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: center"><B><FONT ID="a_026"></FONT>CONSOLIDATED BALANCE SHEETS</B></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: center"><B></B></P>

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    <TD COLSPAN="2" STYLE="text-align: center">&#160;</TD><TD>&#160;</TD><TD>&#160;</TD>
    <TD COLSPAN="2" STYLE="text-align: center">&#160;</TD><TD>&#160;</TD></TR>
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    <TD STYLE="text-align: left">&#160;</TD><TD STYLE="text-align: right">&#160;</TD><TD STYLE="text-align: left">&#160;</TD><TD>&#160;</TD>
    <TD STYLE="text-align: left">&#160;</TD><TD STYLE="text-align: right">&#160;</TD><TD STYLE="text-align: left">&#160;</TD></TR>
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    <TD STYLE="text-align: left">&#160;</TD><TD STYLE="text-align: right">&#160;</TD><TD STYLE="text-align: left">&#160;</TD></TR>
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    <TD STYLE="text-align: right">&#160;</TD><TD>&#160;</TD>
    <TD STYLE="text-align: left">&#160;</TD><TD STYLE="text-align: right">&#160;</TD><TD STYLE="text-align: left">&#160;</TD><TD>&#160;</TD>
    <TD STYLE="text-align: left">&#160;</TD><TD STYLE="text-align: right">&#160;</TD><TD STYLE="text-align: left">&#160;</TD></TR>
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    <TD STYLE="text-align: right">&#160;</TD><TD>&#160;</TD>
    <TD STYLE="text-align: left">&#160;</TD><TD STYLE="text-align: right">&#160;</TD><TD STYLE="text-align: left">&#160;</TD><TD>&#160;</TD>
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<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: center"><B>&#160;</B></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: center"></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: center">See accompanying notes to the consolidated financial
statements.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: center">&#160;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0">&#160;</P>


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<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0"></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: center"><B>DUOS TECHNOLOGIES GROUP, INC. AND SUBSIDIARIES</B></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: center"><FONT ID="a_027"></FONT><B>CONSOLIDATED BALANCE SHEETS (CONTINUED)</B></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: center"><B></B></P>

<TABLE CELLPADDING="0" CELLSPACING="0" STYLE="font: 12pt Arial, Helvetica, Sans-Serif; border-collapse: collapse; width: 100%">
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    <TD COLSPAN="2" STYLE="text-align: center">&#160;</TD><TD>&#160;</TD></TR>
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    <TD COLSPAN="2" STYLE="text-align: center">&#160;</TD><TD>&#160;</TD><TD>&#160;</TD>
    <TD COLSPAN="2" STYLE="text-align: center">&#160;</TD><TD>&#160;</TD></TR>
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    <TD STYLE="text-align: left">&#160;</TD><TD STYLE="text-align: right">&#160;</TD><TD STYLE="text-align: left">&#160;</TD><TD>&#160;</TD>
    <TD STYLE="text-align: left">&#160;</TD><TD STYLE="text-align: right">&#160;</TD><TD STYLE="text-align: left">&#160;</TD></TR>
  <TR STYLE="vertical-align: bottom; background-color: White">
    <TD STYLE="text-align: center">&#160;</TD><TD>&#160;</TD>
    <TD STYLE="text-align: left">&#160;</TD><TD STYLE="text-align: right">&#160;</TD><TD STYLE="text-align: left">&#160;</TD><TD>&#160;</TD>
    <TD STYLE="text-align: left">&#160;</TD><TD STYLE="text-align: right">&#160;</TD><TD STYLE="text-align: left">&#160;</TD></TR>
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    <TD STYLE="text-align: left">&#160;</TD><TD STYLE="text-align: right">&#160;</TD><TD STYLE="text-align: left">&#160;</TD><TD>&#160;</TD>
    <TD STYLE="text-align: left">&#160;</TD><TD STYLE="text-align: right">&#160;</TD><TD STYLE="text-align: left">&#160;</TD></TR>
  <TR ID="xdx_40E_eus-gaap--AccountsPayableCurrent_i01I_pp0p0_maLCzidS_zWd351y7bRzi" STYLE="vertical-align: bottom; background-color: White">
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  <TR ID="xdx_404_ecustom--NotesPayableFinancingAgreements_i01I_pp0p0_maLCzidS_zNGXuF6t2ioa" STYLE="vertical-align: bottom; background-color: rgb(204,238,255)">
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  <TR ID="xdx_40D_eus-gaap--AccruedLiabilitiesCurrent_i01I_pp0p0_maLCzidS_zMFxhr5xN8k2" STYLE="vertical-align: bottom; background-color: White">
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    <TD STYLE="font: 10pt Times New Roman, Times, Serif; text-align: left">&#160;</TD><TD STYLE="font: 10pt Times New Roman, Times, Serif; text-align: right">164,113</TD><TD STYLE="font: 10pt Times New Roman, Times, Serif; text-align: left">&#160;</TD></TR>
  <TR ID="xdx_40B_eus-gaap--OperatingLeaseLiabilityCurrent_i01I_pp0p0_maLCzidS_zerdQtn8UUQ" STYLE="vertical-align: bottom; background-color: rgb(204,238,255)">
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    <TD STYLE="font: 10pt Times New Roman, Times, Serif; text-align: left">&#160;</TD><TD STYLE="font: 10pt Times New Roman, Times, Serif; text-align: right">&#8212;</TD><TD STYLE="font: 10pt Times New Roman, Times, Serif; text-align: left">&#160;</TD></TR>
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    <TD STYLE="font: 10pt Times New Roman, Times, Serif; text-align: left; padding-left: 10pt">&#160;Notes payable, net of
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    <TD STYLE="font: 10pt Times New Roman, Times, Serif; text-align: left">&#160;</TD><TD STYLE="font: 10pt Times New Roman, Times, Serif; text-align: right">&#8212;</TD><TD STYLE="font: 10pt Times New Roman, Times, Serif; text-align: left">&#160;</TD></TR>
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    <TD STYLE="text-align: left">&#160;</TD><TD STYLE="text-align: right">&#160;</TD><TD STYLE="text-align: left">&#160;</TD></TR>
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<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: center"><B>&#160;</B></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: center"></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: center"><B>&#160;</B>&#160;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: center"></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: center">See accompanying notes to the consolidated financial
statements.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: center">&#160;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: center"><B>&#160;</B></P>


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<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0"></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: center"><B>DUOS TECHNOLOGIES GROUP, INC. AND SUBSIDIARIES</B></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: center"><FONT ID="a_028"></FONT><B>CONSOLIDATED STATEMENTS OF OPERATIONS</B></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: center"><B></B></P>

<TABLE CELLPADDING="0" CELLSPACING="0" ID="xdx_30E_113_zEbsueuJlxBe" SUMMARY="xdx: Statement - CONSOLIDATED STATEMENTS OF OPERATIONS (Unaudited)" STYLE="font: 12pt Arial, Helvetica, Sans-Serif; border-collapse: collapse; width: 100%">
  <TR STYLE="vertical-align: bottom">
    <TD STYLE="text-align: right">&#160;</TD><TD>&#160;</TD>
    <TD COLSPAN="2" ID="xdx_494_20240101_20241231" STYLE="text-align: center">&#160;</TD><TD>&#160;</TD><TD>&#160;</TD>
    <TD COLSPAN="2" ID="xdx_492_20230101_20231231" STYLE="text-align: center">&#160;</TD><TD>&#160;</TD></TR>
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  <TR STYLE="vertical-align: bottom">
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    <TD COLSPAN="2" STYLE="text-align: center">&#160;</TD><TD>&#160;</TD></TR>
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    <TD STYLE="text-align: left">&#160;</TD><TD STYLE="text-align: right">&#160;</TD><TD STYLE="text-align: left">&#160;</TD></TR>
  <TR STYLE="vertical-align: bottom; background-color: White">
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  <TR STYLE="vertical-align: bottom; background-color: White">
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    <TD STYLE="text-align: left">&#160;</TD><TD STYLE="text-align: right">&#160;</TD><TD STYLE="text-align: left">&#160;</TD><TD>&#160;</TD>
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  <TR ID="xdx_40B_eus-gaap--Revenues_maCz3Lr_zVJPxBmSNmtc" STYLE="vertical-align: bottom; background-color: rgb(204,238,255)">
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  <TR STYLE="vertical-align: bottom; background-color: White">
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  <TR ID="xdx_40E_eus-gaap--CostOfGoodsAndServicesSoldAbstract_iB_zNfEPu1xQpeg" STYLE="vertical-align: bottom; background-color: rgb(204,238,255)">
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  <TR STYLE="vertical-align: bottom; background-color: White">
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  <TR STYLE="vertical-align: bottom; background-color: rgb(204,238,255)">
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  <TR STYLE="vertical-align: bottom; background-color: White">
    <TD STYLE="text-align: right">&#160;</TD><TD>&#160;</TD>
    <TD STYLE="text-align: left">&#160;</TD><TD STYLE="text-align: right">&#160;</TD><TD STYLE="text-align: left">&#160;</TD><TD>&#160;</TD>
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  <TR ID="xdx_405_eus-gaap--CostOfRevenue_msCz3Lr_zQe8MxdULwoe" STYLE="vertical-align: bottom; background-color: rgb(204,238,255)">
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  <TR STYLE="vertical-align: bottom; background-color: White">
    <TD STYLE="text-align: right">&#160;</TD><TD>&#160;</TD>
    <TD STYLE="text-align: left">&#160;</TD><TD STYLE="text-align: right">&#160;</TD><TD STYLE="text-align: left">&#160;</TD><TD>&#160;</TD>
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  <TR STYLE="vertical-align: bottom; background-color: White">
    <TD STYLE="text-align: right">&#160;</TD><TD>&#160;</TD>
    <TD STYLE="text-align: left">&#160;</TD><TD STYLE="text-align: right">&#160;</TD><TD STYLE="text-align: left">&#160;</TD><TD>&#160;</TD>
    <TD STYLE="text-align: left">&#160;</TD><TD STYLE="text-align: right">&#160;</TD><TD STYLE="text-align: left">&#160;</TD></TR>
  <TR ID="xdx_409_eus-gaap--OperatingExpensesAbstract_iB_zSfGLyFjZ19i" STYLE="vertical-align: bottom; background-color: rgb(204,238,255)">
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  <TR ID="xdx_402_eus-gaap--SellingAndMarketingExpense_i01_maCzHnN_zey0FKi05rik" STYLE="vertical-align: bottom; background-color: White">
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  <TR ID="xdx_408_eus-gaap--ResearchAndDevelopmentExpense_i01_maCzHnN_z8q3HNe6gnH1" STYLE="vertical-align: bottom; background-color: rgb(204,238,255)">
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  <TR STYLE="vertical-align: bottom; background-color: rgb(204,238,255)">
    <TD STYLE="text-align: right">&#160;</TD><TD>&#160;</TD>
    <TD STYLE="text-align: left">&#160;</TD><TD STYLE="text-align: right">&#160;</TD><TD STYLE="text-align: left">&#160;</TD><TD>&#160;</TD>
    <TD STYLE="text-align: left">&#160;</TD><TD STYLE="text-align: right">&#160;</TD><TD STYLE="text-align: left">&#160;</TD></TR>
  <TR ID="xdx_40C_eus-gaap--OperatingCostsAndExpenses_iT_mtCzHnN_msCzZIi_zdCCkkTHtan4" STYLE="vertical-align: bottom; background-color: White">
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  <TR STYLE="vertical-align: bottom; background-color: rgb(204,238,255)">
    <TD STYLE="text-align: right">&#160;</TD><TD>&#160;</TD>
    <TD STYLE="text-align: left">&#160;</TD><TD STYLE="text-align: right">&#160;</TD><TD STYLE="text-align: left">&#160;</TD><TD>&#160;</TD>
    <TD STYLE="text-align: left">&#160;</TD><TD STYLE="text-align: right">&#160;</TD><TD STYLE="text-align: left">&#160;</TD></TR>
  <TR ID="xdx_402_eus-gaap--OperatingIncomeLoss_iT_mtCzZIi_maCzjDh_z1LUsKHDkqri" STYLE="vertical-align: bottom; background-color: White">
    <TD STYLE="font: 10pt Times New Roman, Times, Serif; text-align: left">&#160;LOSS FROM OPERATIONS</TD><TD STYLE="font: 10pt Times New Roman, Times, Serif">&#160;</TD>
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  <TR STYLE="vertical-align: bottom; background-color: rgb(204,238,255)">
    <TD STYLE="text-align: right">&#160;</TD><TD>&#160;</TD>
    <TD STYLE="text-align: left">&#160;</TD><TD STYLE="text-align: right">&#160;</TD><TD STYLE="text-align: left">&#160;</TD><TD>&#160;</TD>
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  <TR ID="xdx_408_eus-gaap--OtherIncomeAndExpensesAbstract_iB_zAFXL3PoN5r4" STYLE="vertical-align: bottom; background-color: White">
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  <TR ID="xdx_40A_eus-gaap--FairValueAdjustmentOfWarrants_i01N_di_msCznUr_zMLmbcbzH0qj" STYLE="vertical-align: bottom; background-color: White">
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    <TD STYLE="font: 10pt Times New Roman, Times, Serif; text-align: left">&#160;</TD><TD STYLE="font: 10pt Times New Roman, Times, Serif; text-align: right">&#8212;</TD><TD STYLE="font: 10pt Times New Roman, Times, Serif; text-align: left">&#160;</TD></TR>
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  <TR STYLE="vertical-align: bottom; background-color: rgb(204,238,255)">
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    <TD STYLE="text-align: left">&#160;</TD><TD STYLE="text-align: right">&#160;</TD><TD STYLE="text-align: left">&#160;</TD><TD>&#160;</TD>
    <TD STYLE="text-align: left">&#160;</TD><TD STYLE="text-align: right">&#160;</TD><TD STYLE="text-align: left">&#160;</TD></TR>
  <TR ID="xdx_40A_eus-gaap--NonoperatingIncomeExpense_i01T_mtCznUr_maCzjDh_z7C09gnBn45b" STYLE="vertical-align: bottom; background-color: White">
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<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: center"><B>&#160;</B></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: center"><B>&#160;&#160;&#160;</B></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: center">See accompanying notes to the consolidated financial
statements.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: center">&#160;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: center">&#160;</P>


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<P STYLE="font: 10pt Times New Roman, Times, Serif; text-align: center; margin-top: 0; margin-bottom: 0">&#160;<B>DUOS TECHNOLOGIES GROUP, INC. AND SUBSIDIARIES</B></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: center"><B><FONT ID="a_029"></FONT>CONSOLIDATED STATEMENTS OF CHANGES IN STOCKHOLDERS'
EQUITY</B></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: center"><B>FOR THE YEARS ENDED DECEMBER 31, 2024 AND
2023</B></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: center"><B>&#160;</B></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: center"><B></B></P>

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    <TD>&#160;</TD><TD STYLE="font-weight: bold">&#160;</TD>
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    <TD COLSPAN="2" STYLE="font-weight: bold; text-align: center">&#160;</TD><TD STYLE="font-weight: bold">&#160;</TD><TD STYLE="font-weight: bold">&#160;</TD>
    <TD COLSPAN="2" STYLE="font-weight: bold; text-align: center">&#160;</TD><TD STYLE="font-weight: bold">&#160;</TD><TD STYLE="font-weight: bold">&#160;</TD>
    <TD COLSPAN="2" STYLE="font-weight: bold; text-align: center">&#160;</TD><TD STYLE="font-weight: bold">&#160;</TD><TD STYLE="font-weight: bold">&#160;</TD>
    <TD COLSPAN="2" STYLE="font-weight: bold; text-align: center">&#160;</TD><TD STYLE="font-weight: bold">&#160;</TD><TD STYLE="font-weight: bold">&#160;</TD>
    <TD COLSPAN="2" STYLE="font-weight: bold; text-align: center">&#160;</TD><TD STYLE="font-weight: bold">&#160;</TD><TD STYLE="font-weight: bold">&#160;</TD>
    <TD COLSPAN="2" STYLE="font-weight: bold; text-align: center">&#160;</TD><TD STYLE="font-weight: bold">&#160;</TD><TD STYLE="font-weight: bold">&#160;</TD>
    <TD COLSPAN="2" STYLE="font-weight: bold; text-align: center">&#160;</TD><TD STYLE="font-weight: bold">&#160;</TD><TD STYLE="font-weight: bold">&#160;</TD>
    <TD COLSPAN="2" STYLE="font-weight: bold; text-align: center">&#160;</TD><TD STYLE="font-weight: bold">&#160;</TD><TD STYLE="font-weight: bold">&#160;</TD>
    <TD COLSPAN="2" STYLE="font-weight: bold; text-align: center">&#160;</TD><TD STYLE="font-weight: bold">&#160;</TD><TD STYLE="font-weight: bold">&#160;</TD>
    <TD COLSPAN="2" STYLE="font-weight: bold">&#160;</TD><TD STYLE="font-weight: bold">&#160;</TD><TD STYLE="font-weight: bold">&#160;</TD>
    <TD COLSPAN="2" STYLE="font-weight: bold">&#160;</TD><TD STYLE="font-weight: bold">&#160;</TD><TD STYLE="font-weight: bold">&#160;</TD>
    <TD COLSPAN="2" STYLE="font-weight: bold; text-align: center">&#160;</TD><TD STYLE="font-weight: bold">&#160;</TD><TD STYLE="font-weight: bold">&#160;</TD>
    <TD COLSPAN="2" STYLE="font-weight: bold; text-align: center">&#160;</TD><TD STYLE="font-weight: bold">&#160;</TD><TD STYLE="font-weight: bold">&#160;</TD>
    <TD COLSPAN="2" STYLE="font-weight: bold; text-align: center">&#160;</TD><TD STYLE="font-weight: bold">&#160;</TD><TD STYLE="font-weight: bold">&#160;</TD>
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    <TD STYLE="width: 1%; text-align: left">$</TD><TD STYLE="width: 1%; text-align: right">1</TD><TD STYLE="width: 1%; text-align: left">&#160;</TD><TD STYLE="width: 1%">&#160;</TD>
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    <TD STYLE="width: 1%; text-align: left">$</TD><TD STYLE="width: 1%; text-align: right">&#8212;</TD><TD STYLE="width: 1%; text-align: left">&#160;</TD><TD STYLE="width: 1%">&#160;</TD>
    <TD STYLE="width: 1%; text-align: left">&#160;</TD><TD ID="xdx_985_eus-gaap--SharesOutstanding_iS_c20230101__20231231__us-gaap--StatementEquityComponentsAxis__custom--PreferredStockFMember_zVHLSvTDMA8i" TITLE="Beginning balance, shares" STYLE="width: 1%; text-align: right">&#8212;</TD><TD STYLE="width: 1%; text-align: left">&#160;</TD><TD STYLE="width: 1%">&#160;</TD>
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    <TD>&#160;</TD><TD>&#160;</TD>
    <TD STYLE="text-align: left">&#160;</TD><TD STYLE="text-align: right">&#160;</TD><TD STYLE="text-align: left">&#160;</TD><TD>&#160;</TD>
    <TD STYLE="text-align: left">&#160;</TD><TD STYLE="text-align: right">&#160;</TD><TD STYLE="text-align: left">&#160;</TD><TD>&#160;</TD>
    <TD STYLE="text-align: left">&#160;</TD><TD STYLE="text-align: right">&#160;</TD><TD STYLE="text-align: left">&#160;</TD><TD>&#160;</TD>
    <TD STYLE="text-align: left">&#160;</TD><TD STYLE="text-align: right">&#160;</TD><TD STYLE="text-align: left">&#160;</TD><TD>&#160;</TD>
    <TD STYLE="text-align: left">&#160;</TD><TD STYLE="text-align: right">&#160;</TD><TD STYLE="text-align: left">&#160;</TD><TD>&#160;</TD>
    <TD STYLE="text-align: left">&#160;</TD><TD STYLE="text-align: right">&#160;</TD><TD STYLE="text-align: left">&#160;</TD><TD>&#160;</TD>
    <TD STYLE="text-align: left">&#160;</TD><TD STYLE="text-align: right">&#160;</TD><TD STYLE="text-align: left">&#160;</TD><TD>&#160;</TD>
    <TD STYLE="text-align: left">&#160;</TD><TD STYLE="text-align: right">&#160;</TD><TD STYLE="text-align: left">&#160;</TD><TD>&#160;</TD>
    <TD STYLE="text-align: left">&#160;</TD><TD STYLE="text-align: right">&#160;</TD><TD STYLE="text-align: left">&#160;</TD><TD>&#160;</TD>
    <TD STYLE="text-align: left">&#160;</TD><TD STYLE="text-align: right">&#160;</TD><TD STYLE="text-align: left">&#160;</TD><TD>&#160;</TD>
    <TD STYLE="text-align: left">&#160;</TD><TD STYLE="text-align: right">&#160;</TD><TD STYLE="text-align: left">&#160;</TD><TD>&#160;</TD>
    <TD STYLE="text-align: left">&#160;</TD><TD STYLE="text-align: right">&#160;</TD><TD STYLE="text-align: left">&#160;</TD><TD>&#160;</TD>
    <TD STYLE="text-align: left">&#160;</TD><TD STYLE="text-align: right">&#160;</TD><TD STYLE="text-align: left">&#160;</TD><TD>&#160;</TD>
    <TD STYLE="text-align: left">&#160;</TD><TD STYLE="text-align: right">&#160;</TD><TD STYLE="text-align: left">&#160;</TD><TD>&#160;</TD>
    <TD STYLE="text-align: left">&#160;</TD><TD STYLE="text-align: right">&#160;</TD><TD STYLE="text-align: left">&#160;</TD><TD>&#160;</TD>
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    <TD STYLE="text-align: left">&#160;</TD><TD STYLE="text-align: right">&#8212;</TD><TD STYLE="text-align: left">&#160;</TD><TD>&#160;</TD>
    <TD STYLE="text-align: left">&#160;</TD><TD STYLE="text-align: right">&#8212;</TD><TD STYLE="text-align: left">&#160;</TD><TD>&#160;</TD>
    <TD STYLE="text-align: left">&#160;</TD><TD STYLE="text-align: right">&#8212;</TD><TD STYLE="text-align: left">&#160;</TD><TD>&#160;</TD>
    <TD STYLE="text-align: left">&#160;</TD><TD STYLE="text-align: right">&#8212;</TD><TD STYLE="text-align: left">&#160;</TD><TD>&#160;</TD>
    <TD STYLE="text-align: left">&#160;</TD><TD STYLE="text-align: right">&#8212;</TD><TD STYLE="text-align: left">&#160;</TD><TD>&#160;</TD>
    <TD STYLE="text-align: left">&#160;</TD><TD STYLE="text-align: right">&#8212;</TD><TD STYLE="text-align: left">&#160;</TD><TD>&#160;</TD>
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    <TD STYLE="text-align: left">&#160;</TD><TD STYLE="text-align: right">&#8212;</TD><TD STYLE="text-align: left">&#160;</TD><TD>&#160;</TD>
    <TD STYLE="text-align: left">&#160;</TD><TD STYLE="text-align: right">&#8212;</TD><TD STYLE="text-align: left">&#160;</TD><TD>&#160;</TD>
    <TD STYLE="text-align: left">&#160;</TD><TD STYLE="text-align: right">&#8212;</TD><TD STYLE="text-align: left">&#160;</TD><TD>&#160;</TD>
    <TD STYLE="text-align: left">&#160;</TD><TD STYLE="text-align: right">&#8212;</TD><TD STYLE="text-align: left">&#160;</TD><TD>&#160;</TD>
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    <TD STYLE="text-align: left">&#160;</TD><TD STYLE="text-align: right">&#8212;</TD><TD STYLE="text-align: left">&#160;</TD><TD>&#160;</TD>
    <TD STYLE="text-align: left">&#160;</TD><TD STYLE="text-align: right">&#8212;</TD><TD STYLE="text-align: left">&#160;</TD><TD>&#160;</TD>
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    <TD>&#160;</TD><TD>&#160;</TD>
    <TD STYLE="text-align: left">&#160;</TD><TD STYLE="text-align: right">&#160;</TD><TD STYLE="text-align: left">&#160;</TD><TD>&#160;</TD>
    <TD STYLE="text-align: left">&#160;</TD><TD STYLE="text-align: right">&#160;</TD><TD STYLE="text-align: left">&#160;</TD><TD>&#160;</TD>
    <TD STYLE="text-align: left">&#160;</TD><TD STYLE="text-align: right">&#160;</TD><TD STYLE="text-align: left">&#160;</TD><TD>&#160;</TD>
    <TD STYLE="text-align: left">&#160;</TD><TD STYLE="text-align: right">&#160;</TD><TD STYLE="text-align: left">&#160;</TD><TD>&#160;</TD>
    <TD STYLE="text-align: left">&#160;</TD><TD STYLE="text-align: right">&#160;</TD><TD STYLE="text-align: left">&#160;</TD><TD>&#160;</TD>
    <TD STYLE="text-align: left">&#160;</TD><TD STYLE="text-align: right">&#160;</TD><TD STYLE="text-align: left">&#160;</TD><TD>&#160;</TD>
    <TD STYLE="text-align: left">&#160;</TD><TD STYLE="text-align: right">&#160;</TD><TD STYLE="text-align: left">&#160;</TD><TD>&#160;</TD>
    <TD STYLE="text-align: left">&#160;</TD><TD STYLE="text-align: right">&#160;</TD><TD STYLE="text-align: left">&#160;</TD><TD>&#160;</TD>
    <TD STYLE="text-align: left">&#160;</TD><TD STYLE="text-align: right">&#160;</TD><TD STYLE="text-align: left">&#160;</TD><TD>&#160;</TD>
    <TD STYLE="text-align: left">&#160;</TD><TD STYLE="text-align: right">&#160;</TD><TD STYLE="text-align: left">&#160;</TD><TD>&#160;</TD>
    <TD STYLE="text-align: left">&#160;</TD><TD STYLE="text-align: right">&#160;</TD><TD STYLE="text-align: left">&#160;</TD><TD>&#160;</TD>
    <TD STYLE="text-align: left">&#160;</TD><TD STYLE="text-align: right">&#160;</TD><TD STYLE="text-align: left">&#160;</TD><TD>&#160;</TD>
    <TD STYLE="text-align: left">&#160;</TD><TD STYLE="text-align: right">&#160;</TD><TD STYLE="text-align: left">&#160;</TD><TD>&#160;</TD>
    <TD STYLE="text-align: left">&#160;</TD><TD STYLE="text-align: right">&#160;</TD><TD STYLE="text-align: left">&#160;</TD><TD>&#160;</TD>
    <TD STYLE="text-align: left">&#160;</TD><TD STYLE="text-align: right">&#160;</TD><TD STYLE="text-align: left">&#160;</TD><TD>&#160;</TD>
    <TD STYLE="text-align: left">&#160;</TD><TD STYLE="text-align: right">&#160;</TD><TD STYLE="text-align: left">&#160;</TD></TR>
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    <TD STYLE="text-align: left">&#160;</TD><TD STYLE="text-align: right">&#8212;</TD><TD STYLE="text-align: left">&#160;</TD><TD>&#160;</TD>
    <TD STYLE="text-align: left">&#160;</TD><TD STYLE="text-align: right">&#8212;</TD><TD STYLE="text-align: left">&#160;</TD><TD>&#160;</TD>
    <TD STYLE="text-align: left">&#160;</TD><TD STYLE="text-align: right">&#8212;</TD><TD STYLE="text-align: left">&#160;</TD><TD>&#160;</TD>
    <TD STYLE="text-align: left">&#160;</TD><TD STYLE="text-align: right">&#8212;</TD><TD STYLE="text-align: left">&#160;</TD><TD>&#160;</TD>
    <TD STYLE="text-align: left">&#160;</TD><TD STYLE="text-align: right">&#8212;</TD><TD STYLE="text-align: left">&#160;</TD><TD>&#160;</TD>
    <TD STYLE="text-align: left">&#160;</TD><TD STYLE="text-align: right">&#8212;</TD><TD STYLE="text-align: left">&#160;</TD><TD>&#160;</TD>
    <TD STYLE="text-align: left">&#160;</TD><TD STYLE="text-align: right">&#8212;</TD><TD STYLE="text-align: left">&#160;</TD><TD>&#160;</TD>
    <TD STYLE="text-align: left">&#160;</TD><TD STYLE="text-align: right">&#8212;</TD><TD STYLE="text-align: left">&#160;</TD><TD>&#160;</TD>
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    <TD STYLE="text-align: left">&#160;</TD><TD STYLE="text-align: right">&#8212;</TD><TD STYLE="text-align: left">&#160;</TD><TD>&#160;</TD>
    <TD STYLE="text-align: left">&#160;</TD><TD STYLE="text-align: right">&#8212;</TD><TD STYLE="text-align: left">&#160;</TD><TD>&#160;</TD>
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    <TD STYLE="text-align: left">&#160;</TD><TD STYLE="text-align: right">&#160;</TD><TD STYLE="text-align: left">&#160;</TD><TD>&#160;</TD>
    <TD STYLE="text-align: left">&#160;</TD><TD STYLE="text-align: right">&#160;</TD><TD STYLE="text-align: left">&#160;</TD><TD>&#160;</TD>
    <TD STYLE="text-align: left">&#160;</TD><TD STYLE="text-align: right">&#160;</TD><TD STYLE="text-align: left">&#160;</TD><TD>&#160;</TD>
    <TD STYLE="text-align: left">&#160;</TD><TD STYLE="text-align: right">&#160;</TD><TD STYLE="text-align: left">&#160;</TD><TD>&#160;</TD>
    <TD STYLE="text-align: left">&#160;</TD><TD STYLE="text-align: right">&#160;</TD><TD STYLE="text-align: left">&#160;</TD><TD>&#160;</TD>
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    <TD>&#160;</TD><TD>&#160;</TD>
    <TD STYLE="text-align: left">&#160;</TD><TD STYLE="text-align: right">&#160;</TD><TD STYLE="text-align: left">&#160;</TD><TD>&#160;</TD>
    <TD STYLE="text-align: left">&#160;</TD><TD STYLE="text-align: right">&#160;</TD><TD STYLE="text-align: left">&#160;</TD><TD>&#160;</TD>
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    <TD STYLE="text-align: left">&#160;</TD><TD STYLE="text-align: right">&#8212;</TD><TD STYLE="text-align: left">&#160;</TD><TD>&#160;</TD>
    <TD STYLE="text-align: left">&#160;</TD><TD STYLE="text-align: right">&#8212;</TD><TD STYLE="text-align: left">&#160;</TD><TD>&#160;</TD>
    <TD STYLE="text-align: left">&#160;</TD><TD STYLE="text-align: right">&#8212;</TD><TD STYLE="text-align: left">&#160;</TD><TD>&#160;</TD>
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    <TD STYLE="text-align: left">&#160;</TD><TD STYLE="text-align: right">&#160;</TD><TD STYLE="text-align: left">&#160;</TD><TD>&#160;</TD>
    <TD STYLE="text-align: left">&#160;</TD><TD STYLE="text-align: right">&#160;</TD><TD STYLE="text-align: left">&#160;</TD><TD>&#160;</TD>
    <TD STYLE="text-align: left">&#160;</TD><TD STYLE="text-align: right">&#160;</TD><TD STYLE="text-align: left">&#160;</TD><TD>&#160;</TD>
    <TD STYLE="text-align: left">&#160;</TD><TD STYLE="text-align: right">&#160;</TD><TD STYLE="text-align: left">&#160;</TD><TD>&#160;</TD>
    <TD STYLE="text-align: left">&#160;</TD><TD STYLE="text-align: right">&#160;</TD><TD STYLE="text-align: left">&#160;</TD><TD>&#160;</TD>
    <TD STYLE="text-align: left">&#160;</TD><TD STYLE="text-align: right">&#160;</TD><TD STYLE="text-align: left">&#160;</TD><TD>&#160;</TD>
    <TD STYLE="text-align: left">&#160;</TD><TD STYLE="text-align: right">&#160;</TD><TD STYLE="text-align: left">&#160;</TD><TD>&#160;</TD>
    <TD STYLE="text-align: left">&#160;</TD><TD STYLE="text-align: right">&#160;</TD><TD STYLE="text-align: left">&#160;</TD><TD>&#160;</TD>
    <TD STYLE="text-align: left">&#160;</TD><TD STYLE="text-align: right">&#160;</TD><TD STYLE="text-align: left">&#160;</TD><TD>&#160;</TD>
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    <TD STYLE="text-align: left">&#160;</TD><TD STYLE="text-align: right">&#160;</TD><TD STYLE="text-align: left">&#160;</TD><TD>&#160;</TD>
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  <TR ID="xdx_408_ecustom--StockIssuanceCost_zALTu6bdG9Ma" STYLE="vertical-align: bottom; background-color: rgb(204,238,255)">
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    <TD STYLE="text-align: left">&#160;</TD><TD STYLE="text-align: right">&#8212;</TD><TD STYLE="text-align: left">&#160;</TD><TD>&#160;</TD>
    <TD STYLE="text-align: left">&#160;</TD><TD STYLE="text-align: right">&#8212;</TD><TD STYLE="text-align: left">&#160;</TD><TD>&#160;</TD>
    <TD STYLE="text-align: left">&#160;</TD><TD STYLE="text-align: right">&#8212;</TD><TD STYLE="text-align: left">&#160;</TD><TD>&#160;</TD>
    <TD STYLE="text-align: left">&#160;</TD><TD STYLE="text-align: right">&#8212;</TD><TD STYLE="text-align: left">&#160;</TD><TD>&#160;</TD>
    <TD STYLE="text-align: left">&#160;</TD><TD STYLE="text-align: right">&#8212;</TD><TD STYLE="text-align: left">&#160;</TD><TD>&#160;</TD>
    <TD STYLE="text-align: left">&#160;</TD><TD STYLE="text-align: right">&#8212;</TD><TD STYLE="text-align: left">&#160;</TD><TD>&#160;</TD>
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    <TD STYLE="text-align: left">&#160;</TD><TD STYLE="text-align: right">&#8212;</TD><TD STYLE="text-align: left">&#160;</TD><TD>&#160;</TD>
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    <TD STYLE="text-align: left">&#160;</TD><TD STYLE="text-align: right">(25,797</TD><TD STYLE="text-align: left">)</TD><TD>&#160;</TD>
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    <TD>&#160;</TD><TD>&#160;</TD>
    <TD STYLE="text-align: left">&#160;</TD><TD STYLE="text-align: right">&#160;</TD><TD STYLE="text-align: left">&#160;</TD><TD>&#160;</TD>
    <TD STYLE="text-align: left">&#160;</TD><TD STYLE="text-align: right">&#160;</TD><TD STYLE="text-align: left">&#160;</TD><TD>&#160;</TD>
    <TD STYLE="text-align: left">&#160;</TD><TD STYLE="text-align: right">&#160;</TD><TD STYLE="text-align: left">&#160;</TD><TD>&#160;</TD>
    <TD STYLE="text-align: left">&#160;</TD><TD STYLE="text-align: right">&#160;</TD><TD STYLE="text-align: left">&#160;</TD><TD>&#160;</TD>
    <TD STYLE="text-align: left">&#160;</TD><TD STYLE="text-align: right">&#160;</TD><TD STYLE="text-align: left">&#160;</TD><TD>&#160;</TD>
    <TD STYLE="text-align: left">&#160;</TD><TD STYLE="text-align: right">&#160;</TD><TD STYLE="text-align: left">&#160;</TD><TD>&#160;</TD>
    <TD STYLE="text-align: left">&#160;</TD><TD STYLE="text-align: right">&#160;</TD><TD STYLE="text-align: left">&#160;</TD><TD>&#160;</TD>
    <TD STYLE="text-align: left">&#160;</TD><TD STYLE="text-align: right">&#160;</TD><TD STYLE="text-align: left">&#160;</TD><TD>&#160;</TD>
    <TD STYLE="text-align: left">&#160;</TD><TD STYLE="text-align: right">&#160;</TD><TD STYLE="text-align: left">&#160;</TD><TD>&#160;</TD>
    <TD STYLE="text-align: left">&#160;</TD><TD STYLE="text-align: right">&#160;</TD><TD STYLE="text-align: left">&#160;</TD><TD>&#160;</TD>
    <TD STYLE="text-align: left">&#160;</TD><TD STYLE="text-align: right">&#160;</TD><TD STYLE="text-align: left">&#160;</TD><TD>&#160;</TD>
    <TD STYLE="text-align: left">&#160;</TD><TD STYLE="text-align: right">&#160;</TD><TD STYLE="text-align: left">&#160;</TD><TD>&#160;</TD>
    <TD STYLE="text-align: left">&#160;</TD><TD STYLE="text-align: right">&#160;</TD><TD STYLE="text-align: left">&#160;</TD><TD>&#160;</TD>
    <TD STYLE="text-align: left">&#160;</TD><TD STYLE="text-align: right">&#160;</TD><TD STYLE="text-align: left">&#160;</TD><TD>&#160;</TD>
    <TD STYLE="text-align: left">&#160;</TD><TD STYLE="text-align: right">&#160;</TD><TD STYLE="text-align: left">&#160;</TD><TD>&#160;</TD>
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    <TD STYLE="text-align: left">&#160;</TD><TD STYLE="text-align: right">&#8212;</TD><TD STYLE="text-align: left">&#160;</TD><TD>&#160;</TD>
    <TD STYLE="text-align: left">&#160;</TD><TD STYLE="text-align: right">&#8212;</TD><TD STYLE="text-align: left">&#160;</TD><TD>&#160;</TD>
    <TD STYLE="text-align: left">&#160;</TD><TD STYLE="text-align: right">&#8212;</TD><TD STYLE="text-align: left">&#160;</TD><TD>&#160;</TD>
    <TD STYLE="text-align: left">&#160;</TD><TD STYLE="text-align: right">&#8212;</TD><TD STYLE="text-align: left">&#160;</TD><TD>&#160;</TD>
    <TD STYLE="text-align: left">&#160;</TD><TD STYLE="text-align: right">&#8212;</TD><TD STYLE="text-align: left">&#160;</TD><TD>&#160;</TD>
    <TD STYLE="text-align: left">&#160;</TD><TD STYLE="text-align: right">&#8212;</TD><TD STYLE="text-align: left">&#160;</TD><TD>&#160;</TD>
    <TD STYLE="text-align: left">&#160;</TD><TD STYLE="text-align: right">&#8212;</TD><TD STYLE="text-align: left">&#160;</TD><TD>&#160;</TD>
    <TD STYLE="text-align: left">&#160;</TD><TD STYLE="text-align: right">&#8212;</TD><TD STYLE="text-align: left">&#160;</TD><TD>&#160;</TD>
    <TD STYLE="text-align: left">&#160;</TD><TD STYLE="text-align: right">&#8212;</TD><TD STYLE="text-align: left">&#160;</TD><TD>&#160;</TD>
    <TD STYLE="text-align: left">&#160;</TD><TD STYLE="text-align: right">&#8212;</TD><TD STYLE="text-align: left">&#160;</TD><TD>&#160;</TD>
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    <TD>&#160;</TD><TD>&#160;</TD>
    <TD STYLE="text-align: left">&#160;</TD><TD STYLE="text-align: right">&#160;</TD><TD STYLE="text-align: left">&#160;</TD><TD>&#160;</TD>
    <TD STYLE="text-align: left">&#160;</TD><TD STYLE="text-align: right">&#160;</TD><TD STYLE="text-align: left">&#160;</TD><TD>&#160;</TD>
    <TD STYLE="text-align: left">&#160;</TD><TD STYLE="text-align: right">&#160;</TD><TD STYLE="text-align: left">&#160;</TD><TD>&#160;</TD>
    <TD STYLE="text-align: left">&#160;</TD><TD STYLE="text-align: right">&#160;</TD><TD STYLE="text-align: left">&#160;</TD><TD>&#160;</TD>
    <TD STYLE="text-align: left">&#160;</TD><TD STYLE="text-align: right">&#160;</TD><TD STYLE="text-align: left">&#160;</TD><TD>&#160;</TD>
    <TD STYLE="text-align: left">&#160;</TD><TD STYLE="text-align: right">&#160;</TD><TD STYLE="text-align: left">&#160;</TD><TD>&#160;</TD>
    <TD STYLE="text-align: left">&#160;</TD><TD STYLE="text-align: right">&#160;</TD><TD STYLE="text-align: left">&#160;</TD><TD>&#160;</TD>
    <TD STYLE="text-align: left">&#160;</TD><TD STYLE="text-align: right">&#160;</TD><TD STYLE="text-align: left">&#160;</TD><TD>&#160;</TD>
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    <TD STYLE="text-align: left">&#160;</TD><TD STYLE="text-align: right">&#160;</TD><TD STYLE="text-align: left">&#160;</TD><TD>&#160;</TD>
    <TD STYLE="text-align: left">&#160;</TD><TD STYLE="text-align: right">&#160;</TD><TD STYLE="text-align: left">&#160;</TD><TD>&#160;</TD>
    <TD STYLE="text-align: left">&#160;</TD><TD STYLE="text-align: right">&#160;</TD><TD STYLE="text-align: left">&#160;</TD><TD>&#160;</TD>
    <TD STYLE="text-align: left">&#160;</TD><TD STYLE="text-align: right">&#160;</TD><TD STYLE="text-align: left">&#160;</TD><TD>&#160;</TD>
    <TD STYLE="text-align: left">&#160;</TD><TD STYLE="text-align: right">&#160;</TD><TD STYLE="text-align: left">&#160;</TD><TD>&#160;</TD>
    <TD STYLE="text-align: left">&#160;</TD><TD STYLE="text-align: right">&#160;</TD><TD STYLE="text-align: left">&#160;</TD><TD>&#160;</TD>
    <TD STYLE="text-align: left">&#160;</TD><TD STYLE="text-align: right">&#160;</TD><TD STYLE="text-align: left">&#160;</TD><TD>&#160;</TD>
    <TD STYLE="text-align: left">&#160;</TD><TD STYLE="text-align: right">&#160;</TD><TD STYLE="text-align: left">&#160;</TD><TD>&#160;</TD>
    <TD STYLE="text-align: left">&#160;</TD><TD STYLE="text-align: right">&#160;</TD><TD STYLE="text-align: left">&#160;</TD><TD>&#160;</TD>
    <TD STYLE="text-align: left">&#160;</TD><TD STYLE="text-align: right">&#160;</TD><TD STYLE="text-align: left">&#160;</TD><TD>&#160;</TD>
    <TD STYLE="text-align: left">&#160;</TD><TD STYLE="text-align: right">&#160;</TD><TD STYLE="text-align: left">&#160;</TD><TD>&#160;</TD>
    <TD STYLE="text-align: left">&#160;</TD><TD STYLE="text-align: right">&#160;</TD><TD STYLE="text-align: left">&#160;</TD><TD>&#160;</TD>
    <TD STYLE="text-align: left">&#160;</TD><TD STYLE="text-align: right">&#160;</TD><TD STYLE="text-align: left">&#160;</TD><TD>&#160;</TD>
    <TD STYLE="text-align: left">&#160;</TD><TD STYLE="text-align: right">&#160;</TD><TD STYLE="text-align: left">&#160;</TD><TD>&#160;</TD>
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    <TD STYLE="text-align: left">&#160;</TD><TD STYLE="text-align: right">&#8212;</TD><TD STYLE="text-align: left">&#160;</TD><TD>&#160;</TD>
    <TD STYLE="text-align: left">&#160;</TD><TD STYLE="text-align: right">&#8212;</TD><TD STYLE="text-align: left">&#160;</TD><TD>&#160;</TD>
    <TD STYLE="text-align: left">&#160;</TD><TD STYLE="text-align: right">&#8212;</TD><TD STYLE="text-align: left">&#160;</TD><TD>&#160;</TD>
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    <TD>&#160;</TD><TD>&#160;</TD>
    <TD STYLE="text-align: left">&#160;</TD><TD STYLE="text-align: right">&#160;</TD><TD STYLE="text-align: left">&#160;</TD><TD>&#160;</TD>
    <TD STYLE="text-align: left">&#160;</TD><TD STYLE="text-align: right">&#160;</TD><TD STYLE="text-align: left">&#160;</TD><TD>&#160;</TD>
    <TD STYLE="text-align: left">&#160;</TD><TD STYLE="text-align: right">&#160;</TD><TD STYLE="text-align: left">&#160;</TD><TD>&#160;</TD>
    <TD STYLE="text-align: left">&#160;</TD><TD STYLE="text-align: right">&#160;</TD><TD STYLE="text-align: left">&#160;</TD><TD>&#160;</TD>
    <TD STYLE="text-align: left">&#160;</TD><TD STYLE="text-align: right">&#160;</TD><TD STYLE="text-align: left">&#160;</TD><TD>&#160;</TD>
    <TD STYLE="text-align: left">&#160;</TD><TD STYLE="text-align: right">&#160;</TD><TD STYLE="text-align: left">&#160;</TD><TD>&#160;</TD>
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    <TD STYLE="text-align: left">&#160;</TD><TD STYLE="text-align: right">&#160;</TD><TD STYLE="text-align: left">&#160;</TD><TD>&#160;</TD>
    <TD STYLE="text-align: left">&#160;</TD><TD STYLE="text-align: right">&#160;</TD><TD STYLE="text-align: left">&#160;</TD><TD>&#160;</TD>
    <TD STYLE="text-align: left">&#160;</TD><TD STYLE="text-align: right">&#160;</TD><TD STYLE="text-align: left">&#160;</TD><TD>&#160;</TD>
    <TD STYLE="text-align: left">&#160;</TD><TD STYLE="text-align: right">&#160;</TD><TD STYLE="text-align: left">&#160;</TD><TD>&#160;</TD>
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    <TD STYLE="text-align: left">&#160;</TD><TD STYLE="text-align: right">&#160;</TD><TD STYLE="text-align: left">&#160;</TD><TD>&#160;</TD>
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    <TD STYLE="text-align: left">&#160;</TD><TD STYLE="text-align: right">&#160;</TD><TD STYLE="text-align: left">&#160;</TD><TD>&#160;</TD>
    <TD STYLE="text-align: left">&#160;</TD><TD STYLE="text-align: right">&#160;</TD><TD STYLE="text-align: left">&#160;</TD><TD>&#160;</TD>
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    <TD STYLE="text-align: left">&#160;</TD><TD STYLE="text-align: right">&#160;</TD><TD STYLE="text-align: left">&#160;</TD><TD>&#160;</TD>
    <TD STYLE="text-align: left">&#160;</TD><TD STYLE="text-align: right">&#160;</TD><TD STYLE="text-align: left">&#160;</TD><TD>&#160;</TD>
    <TD STYLE="text-align: left">&#160;</TD><TD STYLE="text-align: right">&#160;</TD><TD STYLE="text-align: left">&#160;</TD><TD>&#160;</TD>
    <TD STYLE="text-align: left">&#160;</TD><TD STYLE="text-align: right">&#160;</TD><TD STYLE="text-align: left">&#160;</TD><TD>&#160;</TD>
    <TD STYLE="text-align: left">&#160;</TD><TD STYLE="text-align: right">&#160;</TD><TD STYLE="text-align: left">&#160;</TD><TD>&#160;</TD>
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    <TD STYLE="text-align: left">&#160;</TD><TD STYLE="text-align: right">&#160;</TD><TD STYLE="text-align: left">&#160;</TD><TD>&#160;</TD>
    <TD STYLE="text-align: left">&#160;</TD><TD STYLE="text-align: right">&#160;</TD><TD STYLE="text-align: left">&#160;</TD><TD>&#160;</TD>
    <TD STYLE="text-align: left">&#160;</TD><TD STYLE="text-align: right">&#160;</TD><TD STYLE="text-align: left">&#160;</TD><TD>&#160;</TD>
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    <TD>&#160;</TD><TD>&#160;</TD>
    <TD STYLE="text-align: left">&#160;</TD><TD STYLE="text-align: right">&#160;</TD><TD STYLE="text-align: left">&#160;</TD><TD>&#160;</TD>
    <TD STYLE="text-align: left">&#160;</TD><TD STYLE="text-align: right">&#160;</TD><TD STYLE="text-align: left">&#160;</TD><TD>&#160;</TD>
    <TD STYLE="text-align: left">&#160;</TD><TD STYLE="text-align: right">&#160;</TD><TD STYLE="text-align: left">&#160;</TD><TD>&#160;</TD>
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    <TD STYLE="text-align: left">&#160;</TD><TD STYLE="text-align: right">&#160;</TD><TD STYLE="text-align: left">&#160;</TD><TD>&#160;</TD>
    <TD STYLE="text-align: left">&#160;</TD><TD STYLE="text-align: right">&#160;</TD><TD STYLE="text-align: left">&#160;</TD><TD>&#160;</TD>
    <TD STYLE="text-align: left">&#160;</TD><TD STYLE="text-align: right">&#160;</TD><TD STYLE="text-align: left">&#160;</TD><TD>&#160;</TD>
    <TD STYLE="text-align: left">&#160;</TD><TD STYLE="text-align: right">&#160;</TD><TD STYLE="text-align: left">&#160;</TD><TD>&#160;</TD>
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    <TD STYLE="text-align: left">&#160;</TD><TD STYLE="text-align: right">&#160;</TD><TD STYLE="text-align: left">&#160;</TD><TD>&#160;</TD>
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    <TD STYLE="text-align: left">&#160;</TD><TD STYLE="text-align: right">&#160;</TD><TD STYLE="text-align: left">&#160;</TD><TD>&#160;</TD>
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    <TD STYLE="text-align: left">&#160;</TD><TD STYLE="text-align: right">&#8212;</TD><TD STYLE="text-align: left">&#160;</TD><TD>&#160;</TD>
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    <TD STYLE="text-align: left">&#160;</TD><TD STYLE="text-align: right">&#8212;</TD><TD STYLE="text-align: left">&#160;</TD><TD>&#160;</TD>
    <TD STYLE="text-align: left">&#160;</TD><TD STYLE="text-align: right">&#8212;</TD><TD STYLE="text-align: left">&#160;</TD><TD>&#160;</TD>
    <TD STYLE="text-align: left">&#160;</TD><TD STYLE="text-align: right">&#8212;</TD><TD STYLE="text-align: left">&#160;</TD><TD>&#160;</TD>
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    <TD STYLE="text-align: left">&#160;</TD><TD STYLE="text-align: right">&#8212;</TD><TD STYLE="text-align: left">&#160;</TD><TD>&#160;</TD>
    <TD STYLE="text-align: left">&#160;</TD><TD STYLE="text-align: right">&#8212;</TD><TD STYLE="text-align: left">&#160;</TD><TD>&#160;</TD>
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    <TD STYLE="text-align: left">&#160;</TD><TD STYLE="text-align: right">&#160;</TD><TD STYLE="text-align: left">&#160;</TD><TD>&#160;</TD>
    <TD STYLE="text-align: left">&#160;</TD><TD STYLE="text-align: right">&#160;</TD><TD STYLE="text-align: left">&#160;</TD><TD>&#160;</TD>
    <TD STYLE="text-align: left">&#160;</TD><TD STYLE="text-align: right">&#160;</TD><TD STYLE="text-align: left">&#160;</TD><TD>&#160;</TD>
    <TD STYLE="text-align: left">&#160;</TD><TD STYLE="text-align: right">&#160;</TD><TD STYLE="text-align: left">&#160;</TD><TD>&#160;</TD>
    <TD STYLE="text-align: left">&#160;</TD><TD STYLE="text-align: right">&#160;</TD><TD STYLE="text-align: left">&#160;</TD><TD>&#160;</TD>
    <TD STYLE="text-align: left">&#160;</TD><TD STYLE="text-align: right">&#160;</TD><TD STYLE="text-align: left">&#160;</TD><TD>&#160;</TD>
    <TD STYLE="text-align: left">&#160;</TD><TD STYLE="text-align: right">&#160;</TD><TD STYLE="text-align: left">&#160;</TD><TD>&#160;</TD>
    <TD STYLE="text-align: left">&#160;</TD><TD STYLE="text-align: right">&#160;</TD><TD STYLE="text-align: left">&#160;</TD><TD>&#160;</TD>
    <TD STYLE="text-align: left">&#160;</TD><TD STYLE="text-align: right">&#160;</TD><TD STYLE="text-align: left">&#160;</TD><TD>&#160;</TD>
    <TD STYLE="text-align: left">&#160;</TD><TD STYLE="text-align: right">&#160;</TD><TD STYLE="text-align: left">&#160;</TD><TD>&#160;</TD>
    <TD STYLE="text-align: left">&#160;</TD><TD STYLE="text-align: right">&#160;</TD><TD STYLE="text-align: left">&#160;</TD><TD>&#160;</TD>
    <TD STYLE="text-align: left">&#160;</TD><TD STYLE="text-align: right">&#160;</TD><TD STYLE="text-align: left">&#160;</TD><TD>&#160;</TD>
    <TD STYLE="text-align: left">&#160;</TD><TD STYLE="text-align: right">&#160;</TD><TD STYLE="text-align: left">&#160;</TD><TD>&#160;</TD>
    <TD STYLE="text-align: left">&#160;</TD><TD STYLE="text-align: right">&#160;</TD><TD STYLE="text-align: left">&#160;</TD><TD>&#160;</TD>
    <TD STYLE="text-align: left">&#160;</TD><TD STYLE="text-align: right">&#160;</TD><TD STYLE="text-align: left">&#160;</TD><TD>&#160;</TD>
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  </TABLE>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: center"><B>&#160;</B></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: center"><B>&#160;</B></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: center"><B>&#160;</B></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: center">See accompanying notes to the consolidated financial
statements.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: center">&#160;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify">&#160;</P>


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<P STYLE="font: 10pt Times New Roman, Times, Serif; text-align: center; margin-top: 0; margin-bottom: 0">&#160;<B>DUOS TECHNOLOGIES GROUP, INC. AND SUBSIDIARIES</B></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: center"><FONT ID="a_030"></FONT><B>CONSOLIDATED STATEMENTS OF CASH FLOWS</B></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: center"><B></B></P>

<TABLE CELLPADDING="0" CELLSPACING="0" ID="xdx_304_112_zO9yu0iy4oTi" SUMMARY="xdx: Statement - CONSOLIDATED STATEMENTS OF CASH FLOWS (Unaudited)" STYLE="font: 10pt Times New Roman, Times, Serif; border-collapse: collapse; width: 100%">
  <TR STYLE="vertical-align: bottom">
    <TD STYLE="font-size: 12pt">&#160;</TD><TD STYLE="font-size: 12pt">&#160;</TD>
    <TD COLSPAN="2" ID="xdx_490_20240101__20241231_z5dF6mzK60Yg" STYLE="font-size: 12pt; text-align: right">&#160;</TD><TD STYLE="font-size: 12pt">&#160;</TD><TD STYLE="font-size: 12pt">&#160;</TD>
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  <TR STYLE="vertical-align: bottom">
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    <TD COLSPAN="2" STYLE="font-size: 12pt; text-align: center">&#160;</TD><TD STYLE="font-size: 12pt">&#160;</TD><TD STYLE="font-size: 12pt">&#160;</TD>
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    <TD STYLE="font-size: 12pt; text-align: left">&#160;</TD><TD STYLE="font-size: 12pt; text-align: right">&#160;</TD><TD STYLE="font-size: 12pt; text-align: left">&#160;</TD></TR>
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    <TD STYLE="text-align: left">&#160;</TD><TD STYLE="text-align: right">2,161,722</TD><TD STYLE="text-align: left">&#160;</TD><TD>&#160;</TD>
    <TD STYLE="text-align: left">&#160;</TD><TD STYLE="text-align: right">550,201</TD><TD STYLE="text-align: left">&#160;</TD></TR>
  <TR ID="xdx_40C_eus-gaap--ShareBasedCompensation_i01_maCzIfz_zi5Cm5jL8mze" STYLE="vertical-align: bottom; background-color: rgb(204,238,255)">
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    <TD STYLE="text-align: left">&#160;</TD><TD STYLE="text-align: right">108,981</TD><TD STYLE="text-align: left">&#160;</TD><TD>&#160;</TD>
    <TD STYLE="text-align: left">&#160;</TD><TD STYLE="text-align: right">710,047</TD><TD STYLE="text-align: left">&#160;</TD></TR>
  <TR ID="xdx_400_eus-gaap--IssuanceOfStockAndWarrantsForServicesOrClaims_i01_maCzIfz_zNIVV8EuN4Jd" STYLE="vertical-align: bottom; background-color: White">
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  <TR ID="xdx_40E_ecustom--AmortizationOfDebtDiscountRelatedToWarrantLiabilities_i01_maCzIfz_ziEHkSLdfFwl" STYLE="vertical-align: bottom; background-color: rgb(204,238,255)">
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    <TD STYLE="text-align: left">&#160;</TD><TD STYLE="text-align: right">184,002</TD><TD STYLE="text-align: left">&#160;</TD><TD>&#160;</TD>
    <TD STYLE="text-align: left">&#160;</TD><TD STYLE="text-align: right">&#8212;</TD><TD STYLE="text-align: left">&#160;</TD></TR>
  <TR ID="xdx_40A_eus-gaap--FairValueAdjustmentOfWarrants_i01_maCzIfz_zYHNYD8R5PXh" STYLE="vertical-align: bottom; background-color: White">
    <TD>Fair value of warrant liabilities</TD><TD>&#160;</TD>
    <TD STYLE="text-align: left">&#160;</TD><TD STYLE="text-align: right">(245,980</TD><TD STYLE="text-align: left">)</TD><TD>&#160;</TD>
    <TD STYLE="text-align: left">&#160;</TD><TD STYLE="text-align: right">&#8212;</TD><TD STYLE="text-align: left">&#160;</TD></TR>
  <TR ID="xdx_407_eus-gaap--LifeSettlementContractsFairValueMethodGainLoss_i01N_di_msCzIfz_zhCWSnr9E5Rf" STYLE="vertical-align: bottom; background-color: rgb(204,238,255)">
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    <TD STYLE="text-align: left">&#160;</TD><TD STYLE="text-align: right">(379,626</TD><TD STYLE="text-align: left">)</TD><TD>&#160;</TD>
    <TD STYLE="text-align: left">&#160;</TD><TD STYLE="text-align: right">&#8212;</TD><TD STYLE="text-align: left">&#160;</TD></TR>
  <TR ID="xdx_405_ecustom--AmortizationOfDebtDiscountRelatedToWarrantLiability_i01_maCzIfz_zmANwrweyBla" STYLE="vertical-align: bottom; background-color: White">
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    <TD STYLE="text-align: left">&#160;</TD><TD STYLE="text-align: right">344,757</TD><TD STYLE="text-align: left">&#160;</TD><TD>&#160;</TD>
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  <TR ID="xdx_408_ecustom--AmortizationOfLeaseRightOfUseAssetEdgeDataCenters_i01_maCzIfz_zLC6qAgebMM4" STYLE="vertical-align: bottom; background-color: rgb(204,238,255)">
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    <TD STYLE="text-align: left">&#160;</TD><TD STYLE="text-align: right">50,820</TD><TD STYLE="text-align: left">&#160;</TD><TD>&#160;</TD>
    <TD STYLE="text-align: left">&#160;</TD><TD STYLE="text-align: right">&#8212;</TD><TD STYLE="text-align: left">&#160;</TD></TR>
  <TR ID="xdx_40A_eus-gaap--ProvisionForOtherCreditLosses_i01_maCzIfz_zfYvvYTaBqy4" STYLE="vertical-align: bottom; background-color: White">
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    <TD STYLE="text-align: left">&#160;</TD><TD STYLE="text-align: right">76,037</TD><TD STYLE="text-align: left">&#160;</TD><TD>&#160;</TD>
    <TD STYLE="text-align: left">&#160;</TD><TD STYLE="text-align: right">&#8212;</TD><TD STYLE="text-align: left">&#160;</TD></TR>
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    <TD STYLE="text-align: left">&#160;</TD><TD STYLE="text-align: right">161,250</TD><TD STYLE="text-align: left">&#160;</TD><TD>&#160;</TD>
    <TD STYLE="text-align: left">&#160;</TD><TD STYLE="text-align: right">&#8212;</TD><TD STYLE="text-align: left">&#160;</TD></TR>
  <TR ID="xdx_406_eus-gaap--InventoryWriteDown_i01_maCzIfz_zJOzgRv4Faha" STYLE="vertical-align: bottom; background-color: White">
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    <TD STYLE="text-align: left">&#160;</TD><TD STYLE="text-align: right">126,703</TD><TD STYLE="text-align: left">&#160;</TD><TD>&#160;</TD>
    <TD STYLE="text-align: left">&#160;</TD><TD STYLE="text-align: right">&#8212;</TD><TD STYLE="text-align: left">&#160;</TD></TR>
  <TR ID="xdx_401_eus-gaap--IncreaseDecreaseInOtherOperatingAssetsAndLiabilitiesNetAbstract_i01B_zULlnvcEHir9" STYLE="vertical-align: bottom; background-color: rgb(204,238,255)">
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    <TD STYLE="font-size: 12pt; text-align: left">&#160;</TD><TD STYLE="font-size: 12pt; text-align: right">&#160;</TD><TD STYLE="font-size: 12pt; text-align: left">&#160;</TD><TD STYLE="font-size: 12pt">&#160;</TD>
    <TD STYLE="font-size: 12pt; text-align: left">&#160;</TD><TD STYLE="font-size: 12pt; text-align: right">&#160;</TD><TD STYLE="font-size: 12pt; text-align: left">&#160;</TD></TR>
  <TR ID="xdx_406_eus-gaap--IncreaseDecreaseInReceivables_i02N_di_msCzIfz_zY9GLhZgb3ab" STYLE="vertical-align: bottom; background-color: White">
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    <TD STYLE="text-align: left">&#160;</TD><TD STYLE="text-align: right">982,985</TD><TD STYLE="text-align: left">&#160;</TD><TD>&#160;</TD>
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  <TR ID="xdx_407_eus-gaap--IncreaseDecreaseInNotesReceivableCurrent_i02N_di_msCzIfz_zvvgIckzbzi9" STYLE="vertical-align: bottom; background-color: rgb(204,238,255)">
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  <TR ID="xdx_403_eus-gaap--IncreaseDecreaseInContractWithCustomerAsset_i02N_di_msCzIfz_zfZDVMQOXGhc" STYLE="vertical-align: bottom; background-color: White">
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    <TD STYLE="text-align: left">&#160;</TD><TD STYLE="text-align: right">6,173</TD><TD STYLE="text-align: left">&#160;</TD><TD>&#160;</TD>
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    <TD STYLE="text-align: left">&#160;</TD><TD STYLE="text-align: right">(97,804</TD><TD STYLE="text-align: left">)</TD></TR>
  <TR ID="xdx_402_eus-gaap--IncreaseDecreaseInSecurityDeposits_i02_maCzIfz_za2hfXZ5kbE4" STYLE="vertical-align: bottom; background-color: White">
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    <TD STYLE="text-align: left">&#160;</TD><TD STYLE="text-align: right">50,000</TD><TD STYLE="text-align: left">&#160;</TD></TR>
  <TR ID="xdx_404_eus-gaap--IncreaseDecreaseInPrepaidDeferredExpenseAndOtherAssets_i02N_di_msCzIfz_zeX5dqGnbWr" STYLE="vertical-align: bottom; background-color: rgb(204,238,255)">
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  <TR ID="xdx_407_eus-gaap--IncreaseDecreaseInAccountsPayable_i02_maCzIfz_zYPf6GG45Vj9" STYLE="vertical-align: bottom; background-color: White">
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    <TD STYLE="text-align: left">&#160;</TD><TD STYLE="text-align: right">374,188</TD><TD STYLE="text-align: left">&#160;</TD><TD>&#160;</TD>
    <TD STYLE="text-align: left">&#160;</TD><TD STYLE="text-align: right">(1,694,756</TD><TD STYLE="text-align: left">)</TD></TR>
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  <TR ID="xdx_409_eus-gaap--IncreaseDecreaseInOperatingLeaseLiability_i02_maCzIfz_zvzeW9iROyq9" STYLE="vertical-align: bottom; background-color: White">
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    <TD STYLE="text-align: left">&#160;</TD><TD STYLE="text-align: right">(342,206</TD><TD STYLE="text-align: left">)</TD><TD>&#160;</TD>
    <TD STYLE="text-align: left">&#160;</TD><TD STYLE="text-align: right">(232,007</TD><TD STYLE="text-align: left">)</TD></TR>
  <TR ID="xdx_404_eus-gaap--ProceedsFromLongTermCapitalLeaseObligations_i02_maCzIfz_z3asi4qZ8nq1" STYLE="vertical-align: bottom; background-color: rgb(204,238,255)">
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    <TD STYLE="text-align: left">&#160;</TD><TD STYLE="text-align: right">22,055</TD><TD STYLE="text-align: left">&#160;</TD><TD>&#160;</TD>
    <TD STYLE="text-align: left">&#160;</TD><TD STYLE="text-align: right">&#8212;</TD><TD STYLE="text-align: left">&#160;</TD></TR>
  <TR ID="xdx_407_eus-gaap--IncreaseDecreaseInContractWithCustomerLiability_i02_maCzIfz_zQ33uXWboGuk" STYLE="vertical-align: bottom; background-color: White">
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    <TD STYLE="border-bottom: Black 1pt solid; text-align: left">&#160;</TD><TD STYLE="border-bottom: Black 1pt solid; text-align: right">708,245</TD><TD STYLE="padding-bottom: 1pt; text-align: left">&#160;</TD></TR>
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    <TD STYLE="font-size: 12pt">&#160;</TD><TD STYLE="font-size: 12pt">&#160;</TD>
    <TD STYLE="font-size: 12pt; text-align: left">&#160;</TD><TD STYLE="font-size: 12pt; text-align: right">&#160;</TD><TD STYLE="font-size: 12pt; text-align: left">&#160;</TD><TD STYLE="font-size: 12pt">&#160;</TD>
    <TD STYLE="font-size: 12pt; text-align: left">&#160;</TD><TD STYLE="font-size: 12pt; text-align: right">&#160;</TD><TD STYLE="font-size: 12pt; text-align: left">&#160;</TD></TR>
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    <TD STYLE="font-size: 12pt">&#160;</TD><TD STYLE="font-size: 12pt">&#160;</TD>
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    <TD STYLE="font-size: 12pt; text-align: left">&#160;</TD><TD STYLE="font-size: 12pt; text-align: right">&#160;</TD><TD STYLE="font-size: 12pt; text-align: left">&#160;</TD></TR>
  <TR ID="xdx_400_eus-gaap--NetCashProvidedByUsedInInvestingActivitiesAbstract_iB_zYvrUFMV4NX2" STYLE="vertical-align: bottom; background-color: White">
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    <TD STYLE="font-size: 12pt; text-align: left">&#160;</TD><TD STYLE="font-size: 12pt; text-align: right">&#160;</TD><TD STYLE="font-size: 12pt; text-align: left">&#160;</TD></TR>
  <TR ID="xdx_405_eus-gaap--PaymentsToAcquireIntangibleAssets_i01N_di_msCz0BJ_zCHyGiwOiVrh" STYLE="vertical-align: bottom; background-color: rgb(204,238,255)">
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    <TD STYLE="text-align: left">&#160;</TD><TD STYLE="text-align: right">(9,535</TD><TD STYLE="text-align: left">)</TD><TD>&#160;</TD>
    <TD STYLE="text-align: left">&#160;</TD><TD STYLE="text-align: right">(69,327</TD><TD STYLE="text-align: left">)</TD></TR>
  <TR ID="xdx_401_eus-gaap--PaymentsToDevelopSoftware_i01N_di_msCz0BJ_zssyy1rWCzga" STYLE="vertical-align: bottom; background-color: White">
    <TD STYLE="text-align: left">&#160;&#160;&#160;&#160;Purchase of software development</TD><TD>&#160;</TD>
    <TD STYLE="text-align: left">&#160;</TD><TD STYLE="text-align: right">&#8212;</TD><TD STYLE="text-align: left">&#160;</TD><TD>&#160;</TD>
    <TD STYLE="text-align: left">&#160;</TD><TD STYLE="text-align: right">(527,896</TD><TD STYLE="text-align: left">)</TD></TR>
  <TR ID="xdx_402_eus-gaap--PaymentsToAcquirePropertyPlantAndEquipment_i01N_di_msCz0BJ_zuG0JoQPNqG" STYLE="vertical-align: bottom; background-color: rgb(204,238,255)">
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    <TD STYLE="font-size: 12pt">&#160;</TD><TD STYLE="font-size: 12pt">&#160;</TD>
    <TD STYLE="font-size: 12pt; text-align: left">&#160;</TD><TD STYLE="font-size: 12pt; text-align: right">&#160;</TD><TD STYLE="font-size: 12pt; text-align: left">&#160;</TD><TD STYLE="font-size: 12pt">&#160;</TD>
    <TD STYLE="font-size: 12pt; text-align: left">&#160;</TD><TD STYLE="font-size: 12pt; text-align: right">&#160;</TD><TD STYLE="font-size: 12pt; text-align: left">&#160;</TD></TR>
  <TR ID="xdx_402_eus-gaap--NetCashProvidedByUsedInInvestingActivities_iT_mtCz0BJ_maCzzZK_z0k6tPxlVVfd" STYLE="vertical-align: bottom; background-color: rgb(204,238,255)">
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    <TD STYLE="text-align: left">&#160;</TD><TD STYLE="text-align: right">(1,841,298</TD><TD STYLE="text-align: left">)</TD><TD>&#160;</TD>
    <TD STYLE="text-align: left">&#160;</TD><TD STYLE="text-align: right">(1,093,909</TD><TD STYLE="text-align: left">)</TD></TR>
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    <TD STYLE="font-size: 12pt">&#160;</TD><TD STYLE="font-size: 12pt">&#160;</TD>
    <TD STYLE="font-size: 12pt; text-align: left">&#160;</TD><TD STYLE="font-size: 12pt; text-align: right">&#160;</TD><TD STYLE="font-size: 12pt; text-align: left">&#160;</TD><TD STYLE="font-size: 12pt">&#160;</TD>
    <TD STYLE="font-size: 12pt; text-align: left">&#160;</TD><TD STYLE="font-size: 12pt; text-align: right">&#160;</TD><TD STYLE="font-size: 12pt; text-align: left">&#160;</TD></TR>
  <TR ID="xdx_409_eus-gaap--NetCashProvidedByUsedInFinancingActivitiesAbstract_iB_zcAu3uWuF0dd" STYLE="vertical-align: bottom; background-color: rgb(204,238,255)">
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    <TD STYLE="font-size: 12pt; text-align: left">&#160;</TD><TD STYLE="font-size: 12pt; text-align: right">&#160;</TD><TD STYLE="font-size: 12pt; text-align: left">&#160;</TD><TD STYLE="font-size: 12pt">&#160;</TD>
    <TD STYLE="font-size: 12pt; text-align: left">&#160;</TD><TD STYLE="font-size: 12pt; text-align: right">&#160;</TD><TD STYLE="font-size: 12pt; text-align: left">&#160;</TD></TR>
  <TR ID="xdx_40A_ecustom--RepaymentsOnFinancingAgreements_i01N_di_msCzwiV_z3FoTnkyhbSj" STYLE="vertical-align: bottom; background-color: White">
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    <TD STYLE="text-align: left">&#160;</TD><TD STYLE="text-align: right">(430,855</TD><TD STYLE="text-align: left">)</TD><TD>&#160;</TD>
    <TD STYLE="text-align: left">&#160;</TD><TD STYLE="text-align: right">(520,529</TD><TD STYLE="text-align: left">)</TD></TR>
  <TR ID="xdx_40A_ecustom--RepaymentsOfLongTermCapitalLeaseObligation_i01N_di_msCzwiV_zOOGcPaYH137" STYLE="vertical-align: bottom; background-color: rgb(204,238,255)">
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    <TD STYLE="text-align: left">&#160;</TD><TD STYLE="text-align: right">&#8212;</TD><TD STYLE="text-align: left">&#160;</TD><TD>&#160;</TD>
    <TD STYLE="text-align: left">&#160;</TD><TD STYLE="text-align: right">(22,851</TD><TD STYLE="text-align: left">)</TD></TR>
  <TR ID="xdx_406_eus-gaap--ProceedsFromNotesPayable_i01_maCzwiV_zl51DxiZGlqh" STYLE="vertical-align: bottom; background-color: White">
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    <TD STYLE="text-align: left">&#160;</TD><TD STYLE="text-align: right">&#8212;</TD><TD STYLE="text-align: left">&#160;</TD></TR>
  <TR ID="xdx_40F_eus-gaap--ProceedsFromWarrantExercises_i01_maCzwiV_zZTWvDYxogP" STYLE="vertical-align: bottom; background-color: rgb(204,238,255)">
    <TD STYLE="text-align: left">&#160;&#160;&#160;Proceeds from warrant exercises</TD><TD>&#160;</TD>
    <TD STYLE="text-align: left">&#160;</TD><TD STYLE="text-align: right">899,521</TD><TD STYLE="text-align: left">&#160;</TD><TD>&#160;</TD>
    <TD STYLE="text-align: left">&#160;</TD><TD STYLE="text-align: right">&#8212;</TD><TD STYLE="text-align: left">&#160;</TD></TR>
  <TR ID="xdx_409_eus-gaap--ProceedsFromIssuanceOfCommonStock_i01_maCzwiV_zxkN1OwVBQs5" STYLE="vertical-align: bottom; background-color: White">
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    <TD STYLE="text-align: left">&#160;</TD><TD STYLE="text-align: right">3,544,689</TD><TD STYLE="text-align: left">&#160;</TD><TD>&#160;</TD>
    <TD STYLE="text-align: left">&#160;</TD><TD STYLE="text-align: right">&#8212;</TD><TD STYLE="text-align: left">&#160;</TD></TR>
  <TR ID="xdx_401_ecustom--IssuanceCosts_i01N_di_msCzwiV_zcbXOfzyFkqd" STYLE="vertical-align: bottom; background-color: rgb(204,238,255)">
    <TD STYLE="text-align: left">&#160;&#160;&#160;Stock issuance cost</TD><TD>&#160;</TD>
    <TD STYLE="text-align: left">&#160;</TD><TD STYLE="text-align: right">(220,183</TD><TD STYLE="text-align: left">)</TD><TD>&#160;</TD>
    <TD STYLE="text-align: left">&#160;</TD><TD STYLE="text-align: right">(25,797</TD><TD STYLE="text-align: left">)</TD></TR>
  <TR ID="xdx_401_eus-gaap--ProceedsFromRepaymentOfLoansByEmployeeStockOwnershipPlans_i01_maCzwiV_zrkYWizJRnq3" STYLE="vertical-align: bottom; background-color: White">
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    <TD STYLE="text-align: left">&#160;</TD><TD STYLE="text-align: right">166,265</TD><TD STYLE="text-align: left">&#160;</TD><TD>&#160;</TD>
    <TD STYLE="text-align: left">&#160;</TD><TD STYLE="text-align: right">230,400</TD><TD STYLE="text-align: left">&#160;</TD></TR>
  <TR ID="xdx_407_eus-gaap--ProceedsFromIssuanceOfPreferredStockAndPreferenceStock_i01_maCzwiV_zvZ9eDdj2ZSf" STYLE="vertical-align: bottom; background-color: rgb(204,238,255)">
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    <TD STYLE="border-bottom: Black 1pt solid; text-align: left">&#160;</TD><TD STYLE="border-bottom: Black 1pt solid; text-align: right">11,500,000</TD><TD STYLE="padding-bottom: 1pt; text-align: left">&#160;</TD></TR>
  <TR STYLE="vertical-align: bottom; background-color: White">
    <TD STYLE="font-size: 12pt">&#160;</TD><TD STYLE="font-size: 12pt">&#160;</TD>
    <TD STYLE="font-size: 12pt; text-align: left">&#160;</TD><TD STYLE="font-size: 12pt; text-align: right">&#160;</TD><TD STYLE="font-size: 12pt; text-align: left">&#160;</TD><TD STYLE="font-size: 12pt">&#160;</TD>
    <TD STYLE="font-size: 12pt; text-align: left">&#160;</TD><TD STYLE="font-size: 12pt; text-align: right">&#160;</TD><TD STYLE="font-size: 12pt; text-align: left">&#160;</TD></TR>
  <TR ID="xdx_40B_eus-gaap--NetCashProvidedByUsedInFinancingActivities_i01T_mtCzwiV_maCzzZK_ztaxIusimbRa" STYLE="vertical-align: bottom; background-color: rgb(204,238,255)">
    <TD STYLE="font-weight: bold; text-align: left">Net cash provided by financing activities</TD><TD>&#160;</TD>
    <TD STYLE="text-align: left">&#160;</TD><TD STYLE="text-align: right">9,154,439</TD><TD STYLE="text-align: left">&#160;</TD><TD>&#160;</TD>
    <TD STYLE="text-align: left">&#160;</TD><TD STYLE="text-align: right">11,161,223</TD><TD STYLE="text-align: left">&#160;</TD></TR>
  <TR STYLE="vertical-align: bottom; background-color: White">
    <TD STYLE="font-size: 12pt">&#160;</TD><TD STYLE="font-size: 12pt">&#160;</TD>
    <TD STYLE="font-size: 12pt; text-align: left">&#160;</TD><TD STYLE="font-size: 12pt; text-align: right">&#160;</TD><TD STYLE="font-size: 12pt; text-align: left">&#160;</TD><TD STYLE="font-size: 12pt">&#160;</TD>
    <TD STYLE="font-size: 12pt; text-align: left">&#160;</TD><TD STYLE="font-size: 12pt; text-align: right">&#160;</TD><TD STYLE="font-size: 12pt; text-align: left">&#160;</TD></TR>
  <TR ID="xdx_409_eus-gaap--CashCashEquivalentsRestrictedCashAndRestrictedCashEquivalentsPeriodIncreaseDecreaseExcludingExchangeRateEffect_iT_mtCzzZK_zk3A8agpaboc" STYLE="vertical-align: bottom; background-color: rgb(204,238,255)">
    <TD STYLE="font-weight: bold; text-align: left">Net increase in cash</TD><TD>&#160;</TD>
    <TD STYLE="text-align: left">&#160;</TD><TD STYLE="text-align: right">3,824,454</TD><TD STYLE="text-align: left">&#160;</TD><TD>&#160;</TD>
    <TD STYLE="text-align: left">&#160;</TD><TD STYLE="text-align: right">1,320,750</TD><TD STYLE="text-align: left">&#160;</TD></TR>
  <TR ID="xdx_408_eus-gaap--CashCashEquivalentsRestrictedCashAndRestrictedCashEquivalents_iS_zbA8dR2wnvA3" STYLE="vertical-align: bottom; background-color: White">
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    <TD STYLE="border-bottom: Black 1pt solid; text-align: left">&#160;</TD><TD STYLE="border-bottom: Black 1pt solid; text-align: right">1,121,092</TD><TD STYLE="padding-bottom: 1pt; text-align: left">&#160;</TD></TR>
  <TR ID="xdx_40C_eus-gaap--CashCashEquivalentsRestrictedCashAndRestrictedCashEquivalents_iE_z02yerXjCCte" STYLE="vertical-align: bottom; background-color: rgb(204,238,255)">
    <TD STYLE="font-weight: bold; padding-bottom: 1pt">Cash, end of year</TD><TD STYLE="padding-bottom: 1pt">&#160;</TD>
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    <TD STYLE="border-bottom: Black 1pt solid; text-align: left">$</TD><TD STYLE="border-bottom: Black 1pt solid; text-align: right">2,441,842</TD><TD STYLE="padding-bottom: 1pt; text-align: left">&#160;</TD></TR>
  <TR STYLE="vertical-align: bottom; background-color: White">
    <TD STYLE="font-size: 12pt">&#160;</TD><TD STYLE="font-size: 12pt">&#160;</TD>
    <TD STYLE="font-size: 12pt; text-align: left">&#160;</TD><TD STYLE="font-size: 12pt; text-align: right">&#160;</TD><TD STYLE="font-size: 12pt; text-align: left">&#160;</TD><TD STYLE="font-size: 12pt">&#160;</TD>
    <TD STYLE="font-size: 12pt; text-align: left">&#160;</TD><TD STYLE="font-size: 12pt; text-align: right">&#160;</TD><TD STYLE="font-size: 12pt; text-align: left">&#160;</TD></TR>
  <TR ID="xdx_406_eus-gaap--SupplementalCashFlowInformationAbstract_iB_ztHuWCwAhB55" STYLE="vertical-align: bottom; background-color: rgb(204,238,255)">
    <TD STYLE="text-decoration: underline; font-weight: bold; text-align: left">Supplemental Disclosure of Cash Flow Information:</TD><TD STYLE="font-size: 12pt">&#160;</TD>
    <TD STYLE="font-size: 12pt; text-align: left">&#160;</TD><TD STYLE="font-size: 12pt; text-align: right">&#160;</TD><TD STYLE="font-size: 12pt; text-align: left">&#160;</TD><TD STYLE="font-size: 12pt">&#160;</TD>
    <TD STYLE="font-size: 12pt; text-align: left">&#160;</TD><TD STYLE="font-size: 12pt; text-align: right">&#160;</TD><TD STYLE="font-size: 12pt; text-align: left">&#160;</TD></TR>
  <TR ID="xdx_405_eus-gaap--InterestPaidNet_i01_zRgqefDFkWPl" STYLE="vertical-align: bottom; background-color: White">
    <TD STYLE="text-align: left; padding-bottom: 1pt">Interest paid</TD><TD STYLE="padding-bottom: 1pt">&#160;</TD>
    <TD STYLE="border-bottom: Black 1pt solid; text-align: left">$</TD><TD STYLE="border-bottom: Black 1pt solid; text-align: right">3,865</TD><TD STYLE="padding-bottom: 1pt; text-align: left">&#160;</TD><TD STYLE="padding-bottom: 1pt">&#160;</TD>
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  <TR ID="xdx_40F_eus-gaap--IncomeTaxesPaidNet_i01_zgKkOMblMOyg" STYLE="vertical-align: bottom; background-color: rgb(204,238,255)">
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  <TR STYLE="vertical-align: bottom; background-color: White">
    <TD STYLE="font-size: 12pt">&#160;</TD><TD STYLE="font-size: 12pt">&#160;</TD>
    <TD STYLE="font-size: 12pt; text-align: left">&#160;</TD><TD STYLE="font-size: 12pt; text-align: right">&#160;</TD><TD STYLE="font-size: 12pt; text-align: left">&#160;</TD><TD STYLE="font-size: 12pt">&#160;</TD>
    <TD STYLE="font-size: 12pt; text-align: left">&#160;</TD><TD STYLE="font-size: 12pt; text-align: right">&#160;</TD><TD STYLE="font-size: 12pt; text-align: left">&#160;</TD></TR>
  <TR ID="xdx_401_eus-gaap--NoncashInvestingAndFinancingItemsAbstract_iB_zLXQoyBG0gVk" STYLE="vertical-align: bottom; background-color: rgb(204,238,255)">
    <TD STYLE="text-decoration: underline; font-weight: bold; text-align: left">Supplemental Non-Cash Investing and Financing Activities:</TD><TD STYLE="font-size: 12pt">&#160;</TD>
    <TD STYLE="font-size: 12pt; text-align: left">&#160;</TD><TD STYLE="font-size: 12pt; text-align: right">&#160;</TD><TD STYLE="font-size: 12pt; text-align: left">&#160;</TD><TD STYLE="font-size: 12pt">&#160;</TD>
    <TD STYLE="font-size: 12pt; text-align: left">&#160;</TD><TD STYLE="font-size: 12pt; text-align: right">&#160;</TD><TD STYLE="font-size: 12pt; text-align: left">&#160;</TD></TR>
  <TR ID="xdx_407_ecustom--DebtDiscountForWarrantLiability_i01_zLqsooyYK21f" STYLE="vertical-align: bottom; background-color: White">
    <TD STYLE="text-align: left; padding-bottom: 1pt">Debt discount for warrant liability</TD><TD STYLE="padding-bottom: 1pt">&#160;</TD>
    <TD STYLE="border-bottom: Black 1pt solid; text-align: left">$</TD><TD STYLE="border-bottom: Black 1pt solid; text-align: right">625,606</TD><TD STYLE="padding-bottom: 1pt; text-align: left">&#160;</TD><TD STYLE="padding-bottom: 1pt">&#160;</TD>
    <TD STYLE="border-bottom: Black 1pt solid; text-align: left">$</TD><TD STYLE="border-bottom: Black 1pt solid; text-align: right">&#8212;</TD><TD STYLE="padding-bottom: 1pt; text-align: left">&#160;</TD></TR>
  <TR ID="xdx_40A_eus-gaap--NotesIssued1_i01_zVJb2na5KA82" STYLE="vertical-align: bottom; background-color: rgb(204,238,255)">
    <TD STYLE="text-align: left; padding-bottom: 1pt">Notes issued for financing of insurance premiums</TD><TD STYLE="padding-bottom: 1pt">&#160;</TD>
    <TD STYLE="border-bottom: Black 1pt solid; text-align: left">$</TD><TD STYLE="border-bottom: Black 1pt solid; text-align: right">434,883</TD><TD STYLE="padding-bottom: 1pt; text-align: left">&#160;</TD><TD STYLE="padding-bottom: 1pt">&#160;</TD>
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  <TR ID="xdx_40A_ecustom--TransferOfInventoryToFixedAssets_i01_zPPvQknORC3g" STYLE="vertical-align: bottom; background-color: White">
    <TD STYLE="text-align: left; padding-bottom: 1pt">Transfer of inventory to fixed assets</TD><TD STYLE="padding-bottom: 1pt">&#160;</TD>
    <TD STYLE="border-bottom: Black 1pt solid; text-align: left">$</TD><TD STYLE="border-bottom: Black 1pt solid; text-align: right">545,091</TD><TD STYLE="padding-bottom: 1pt; text-align: left">&#160;</TD><TD STYLE="padding-bottom: 1pt">&#160;</TD>
    <TD STYLE="border-bottom: Black 1pt solid; text-align: left">$</TD><TD STYLE="border-bottom: Black 1pt solid; text-align: right">&#8212;</TD><TD STYLE="padding-bottom: 1pt; text-align: left">&#160;</TD></TR>
  <TR ID="xdx_404_ecustom--IntangibleAssetAcquiredWithContractLiability_i01_zZnP1WmBceI9" STYLE="vertical-align: bottom; background-color: rgb(204,238,255)">
    <TD STYLE="text-align: left; padding-bottom: 1pt">Intangible asset acquired with contract liability</TD><TD STYLE="padding-bottom: 1pt">&#160;</TD>
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    <TD STYLE="border-bottom: Black 1pt solid; text-align: left">$</TD><TD STYLE="border-bottom: Black 1pt solid; text-align: right">&#8212;</TD><TD STYLE="padding-bottom: 1pt; text-align: left">&#160;</TD></TR>
  <TR ID="xdx_402_ecustom--EquityInvestmentSawgrassAprHoldingsLlc_i01_zIgWw9XR686f" STYLE="vertical-align: bottom; background-color: White">
    <TD STYLE="text-align: left">Equity Investment - Sawgrass APR Holdings LLC</TD><TD>&#160;</TD>
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    <TD STYLE="border-bottom: Black 1pt solid; text-align: left">$</TD><TD STYLE="border-bottom: Black 1pt solid; text-align: right">&#8212;</TD><TD STYLE="padding-bottom: 1pt; text-align: left">&#160;</TD></TR>
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<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: center"><B>&#160;</B></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: center">See accompanying notes to the consolidated financial
statements.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: center">&#160;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify"><B>&#160;&#160;</B></P>


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<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0"></P>

<P ID="xdx_043_c20240101__20241231_zQ0GWDvCfY9e" STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: center"><B>DUOS TECHNOLOGIES GROUP, INC. AND SUBSIDIARIES</B></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: center"><B><FONT ID="a_031"></FONT>NOTES TO CONSOLIDATED FINANCIAL STATEMENTS</B></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: center"><B>DECEMBER 31, 2024 AND 2023</B></P>

<P ID="xdx_044_c20240101__20241231_zTmCu4gHC6f6" STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0">&#160;</P>

<P ID="xdx_803_eus-gaap--OrganizationConsolidationBasisOfPresentationBusinessDescriptionAndAccountingPoliciesTextBlock_zXQUPSuAKBj6" STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify"><B>NOTE 1 &#8211; <FONT ID="xdx_822_zNVnSJoOIAb8">NATURE OF OPERATIONS AND SUMMARY
OF SIGNIFICANT ACCOUNTING POLICIES</FONT></B></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify">&#160;</P>

<P ID="xdx_84B_ecustom--NatureOfOperationsPolicyTextBlock_zr4ZgkYGyP77" STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify"><B><FONT STYLE="text-decoration: underline"><FONT ID="xdx_86D_zj9VtB5V7Hoj">Nature of Operations</FONT></FONT></B></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify">&#160;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify">Duos Technologies Group, Inc., through its operating
subsidiaries, Duos Technologies, Inc., Duos Edge AI, Inc., and Duos Energy Corporation, (collectively the &#8220;Company&#8221;), is a
company that specializes in machine vision and artificial intelligence to analyze fast moving objects such as trains, trucks, automobiles,
and aircraft. This technology can help improve safety, maintenance, and operating metrics.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify">&#160;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify">The Company is the inventor of the Railcar Inspection
Portal (&#8220;RIP&#8221;) and is currently the rail industry leader for machine vision/camera wayside detection systems that include
the use of Artificial Intelligence at speeds up to 125 mph. The RIP inspects a train at full speed from the top, sides, and bottom looking
at Federal Railroad Administration/Association of American Railroads mandated safety inspection points. The system also detects illegal
riders, which can assist law enforcement agencies. Each railcar is scanned with machine vision cameras and other sensors from the top,
sides, and bottom, where images are produced within seconds of the railcar passing. These images can then be used by the customer to help
prevent derailments, improve maintenance operations, and assist with security. The Company self-performs all aspects of hardware, software,
Information Technology (&#8220;IT&#8221;), and Artificial Intelligence development and engineering. The Company maintains significant
intellectual property and continues to be awarded additional patents for both the technology and methodologies used. The Company also
has a proprietary portfolio of approximately 53 Artificial Intelligence &#8220;Use Cases&#8221; that automatically flag defects. The Company
has deployed this system with several Class 1 railroads and one major passenger carrier and anticipates an increased demand in the future
from railcar operators, owners, shippers, transit railroads as well as law enforcement agencies.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify">&#160;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify">In 2024, the Company&#8217;s management team determined
that it would be in the best interests of the Company and its shareholders to leverage the skills and expertise that have been built up
since 2021 to expand into other markets. Duos will continue to develop industry solutions for its target markets addressing rail, trucking,
aviation and other vehicle-based processes. In addition, the Company elected to develop new offerings based on its existing technology
and formed a new subsidiary in July 2024 called Duos Edge AI (&#8220;Edge&#8221;). The objective of this new subsidiary is to market a
special part of the RIP for the provision of high-speed and function processing of data and applications with a focus on reducing latency
in response times to end-users. Duos has many years of experience via its expert staff in bringing these types of capabilities to remote
locations, also known as &#8220;the edge&#8221;. Edge processing can be an extremely efficient and lower cost alternative to traditional
data centers. The strategy for Edge is to serve rural communities, also known as Tier 3 and 4 markets, and install Edge data centers in
these locations thereby providing access to high-speed communications and advanced processing capabilities as a substitute for solutions
where large amounts of data are &#8220;backhauled&#8221; using &#8220;the Cloud&#8221;. Duos developed these capabilities as an adjunct
to its RIP offerings due to the need for fast results (less than 60 seconds) in identifying defects and maintenance issues on moving railcars.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify"></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify">&#160;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify">Also in late 2024, the Company formed a third subsidiary,
Duos Energy Corporation (&#8220;Duos Energy&#8221;) with the express purpose of providing consulting services and solutions for the rapidly
growing demand for electrical power outside of traditional utilities. As an outgrowth of its new Edge Data Center subsidiary, and the
current expert staff on-hand, the Company has engaged with multiple third parties to act in a consulting and ultimately asset management
capacity whereby Duos staff will be engaged directly to supply this type of power solutions for multiple uses including for large data
centers supporting AI &#8220;hyperscalers&#8221;. In conjunction with this, in late 2024, Duos engaged with Fortress Investment Group
(&#8220;FIG&#8221;) to assist in FIG&#8217;s purchase of approximately 850 Mega Watts of electrical generation capacity (consisting of
30 mobile gas turbine generators) and associated equipment to support their installation and operation (&#8220;balance-of-plant&#8221;).
In late November 2024, Sawgrass Buyer LLC, an entity formed and owned by FIG, executed an asset purchase agreement with Atlas Corporation,
APR Energy Holdings Limited and a number of its wholly-owned affiliates (collectively, &#8220;APR&#8221;). Chuck Ferry, our CEO, was formerly
the CEO of APR from 2018 to 2020. The transaction closed on December 31, 2024. At Closing, Sawgrass Buyer LLC entered into an Asset Management
Agreement (&#8220;AMA&#8221;) with the Company under which a substantial portion of Company staff, including certain members of the management
team (including Mr. Ferry), would oversee operations of Sawgrass Buyer LLC. The AMA term has a two year term with customary cancellation
provisions. At Closing, the Company also received a 5%, non-voting ownership interest in Sawgrass APR Holdings, LLC (&#8220;Sawgrass
Parent&#8221;), the ultimate parent company of Sawgrass Buyer LLC. Subsequent to Closing, Sawgrass Buyer LLC changed its name to New APR
Energy, LLC (&#8220;New APR&#8221;).</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify">&#160;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify">On December 31, 2024, the Company entered into an
AMA, with New APR, an entity formed by affiliates of FIG.&#160;Under the AMA, Duos Energy
will manage the deployment and operations for a fleet of mobile gas turbines and &#8220;balance-of-plant&#8221; inventory, providing management,
sales and operations functions to New APR in connection with the Assets. In exchange for services to be performed under the AMA, the Company
received an initial cash payment from New APR and common units in Sawgrass Parent. While the Company has board representation in Sawgrass
Parent, its common units are non-voting and the Company does not control the board of directors of Sawgrass Parent.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify"></P>

<P ID="xdx_237_zpQ8M9uklgRb" STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify">&#160;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify">&#160;</P>
<P ID="xdx_23A_zf4LHG2N1D7k" STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify">&#160;</P>


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<P ID="xdx_23D_z9nrws1jtrTj" STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify">&#160;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify">Where the Company has an interest in a Variable Interest
Entity (&#8220;VIE&#8221;), it will consolidate any VIE in which the Company has a controlling financial interest and deemed to be the
primary beneficiary. A controlling financial interest has both of the following characteristics: (1) the power to direct the activities
of the VIE that most significantly impact its economic performance; and (2) the obligation to absorb losses of the VIE that could potentially
be significant to the VIE or the right to receive benefits from the VIE that could be significant to the VIE. If both of the characteristics
are met, the Company is considered to be the primary beneficiary and therefore will consolidate that VIE into our consolidated financial
statements.</P>


<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0">&#160;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify"></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify">Investments in partnerships, unincorporated joint
ventures and LLCs that maintain specific ownership accounts for each investor are excluded from the scope of ASC 323-10. However, ASC
323-30 provides guidance on applying the criteria for equity method accounting to investments in partnerships, unincorporated joint ventures
and LLCs. When an investor in a partnership, unincorporated joint venture or LLC has the ability to exercise significant influence over
that investment, it should apply the equity method (ASC 323-10) by analogy (ASC 323-30-25-1).</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify">&#160;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify">Sawgrass Parent is deemed to be a VIE and the
Company holds a 5% interest in the Sawgrass Parent and an interest in the subsidiary New APR through the AMA, both of which are
considered variable interests. However, the Company does not represent the primary beneficiary as it does not possess the ability to
direct the activities that most significantly impact the economic performance of Sawgrass Parent. Accordingly, the Company does not
consolidate Sawgrass Parent. Due to the Company&#8217;s interest in Sawgrass Parent, it was determined that the Company has
significant influence over Sawgrass Parent. Therefore, the Company accounts for its investment in Sawgrass Parent as an Equity
Method Investment.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify">&#160;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify">The Company also concluded that the arrangement
with Sawgrass Parent is within the scope of ASC 606, Revenue from contracts with customers, and the common units issued to the
Company by Sawgrass Parent represented non-cash consideration. The initial carrying value of the equity method investment as of
December 31, 2024 of $<FONT ID="xdx_900_ecustom--CarryingValueOfCommonUnitsReceived_iI_pn3n3_dm_c20241231__us-gaap--TypeOfArrangementAxis__custom--AssetManagementAgreementMember_z6nT7qG812J6" TITLE="Carrying value of common units received">7.2</FONT>
million was measured equal to the fair value of the common units received for future services to be performed under the AMA. The
Company recorded $<FONT ID="xdx_90F_eus-gaap--DeferredRevenue_iI_pn3n3_dm_c20241231__us-gaap--TypeOfArrangementAxis__custom--AssetManagementAgreementMember_z4WmztBTjiS3" TITLE="Deferred revenue">7.2 </FONT>million
of deferred revenue for services to be performed under the AMA. During the year ended December 31, 2024, the Company did not
recognize any revenue associated with the AMA.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify">&#160;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify">The Company will initially record the equity method
investment in Sawgrass Parent of $<FONT ID="xdx_905_eus-gaap--EquityMethodInvestments_iI_pn3n3_dm_c20241231__srt--CounterpartyNameAxis__custom--SawgrassParentMember_zQI4jQejJm" TITLE="Equity method investment">7.2</FONT> million, equal to the fair value of the common units as of December 31, 2024.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify">&#160;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify">Under the terms of the AMA, Duos staff will conduct
all operations for commercial engagement, planning and project management, installation and operations of the New APR assets. The new
entity will share certain management functions with Duos including the CEO, COO, Chief Commercial Officer and General Counsel and other
services will be provided by Duos in a combination of direct staffing with specific experience in the power generation industry and other
functions as necessary via a &#8220;shared services&#8221; agreement. New APR will have its own President and Chief Financial Officer
and while in the early stages, certain accounting staff will be supplied via the shared services arrangement, it is expected that New
APR will develop its own accounting and administrative functions. It is expected that there will be a strong correlation between the two
companies, particularly in the areas of Data Center power generation and business development and Duos is expected to participate in these
opportunities in addition to the anticipated revenues from the AMA.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify">&#160;&#160;</P>


<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0"></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify"><B></B></P>

<P ID="xdx_84E_eus-gaap--BasisOfAccountingPolicyPolicyTextBlock_zgu2p9kCyamb" STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify"><B><FONT STYLE="text-decoration: underline"><FONT ID="xdx_861_zsbMjV4abkm7">Principles of Consolidation</FONT></FONT></B></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify">&#160;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify">The audited consolidated financial statements include
Duos Technologies Group, Inc. and its wholly owned subsidiaries, Duos Technologies, Inc., Duos Edge AI, Inc. and Duos Energy Corporation.
All inter-company transactions and balances are eliminated in consolidation.<B>&#160;</B></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify">&#160;</P>

<P ID="xdx_847_eus-gaap--UseOfEstimates_z4sdqHuapWD4" STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify"><B><FONT STYLE="text-decoration: underline"><FONT ID="xdx_86E_zSz70zHSAEy7">Use of Estimates</FONT></FONT></B></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify">&#160;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify">The preparation of financial statements in conformity
with accounting principles generally accepted in the United States of America requires management to make estimates and assumptions that
affect the reported amounts of assets and liabilities and disclosures of contingent assets and liabilities at the date of the consolidated
financial statements and the reported amounts of revenues and expenses during the reporting period. Actual results may differ from these
estimates. The most significant estimates in the accompanying audited consolidated financial statements include the initial valuation
of a non-monetary transaction with a customer, valuation of intangible assets for impairment analysis, allowance on accounts receivable
and notes receivable, valuation of common stock warrants received in exchange for an asset sale, valuation of deferred tax assets, valuation
of other long-lived assets, estimates of net contract revenues and the total estimated costs to determine progress towards contract completion,
valuation of inventory, estimates of the valuation of right of use assets and corresponding lease liabilities, valuation of warrants issued
with debt, valuation of warrant liabilities, valuation of stock-based awards and the valuation of a minority interest in Sawgrass Parent.
We base our estimates on historical experience and on various other assumptions that we believe are reasonable under the circumstances,
the results of which form the basis for making judgments about the carrying values of assets and liabilities that are not readily apparent
from other sources. Actual results may differ from these estimates.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify">&#160;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify"></P>


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    <!-- Field: /Page -->


<P ID="xdx_233_zNV5bam0ZfYe" STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0">&#160;</P>
<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify"></P>

<P ID="xdx_840_eus-gaap--ConcentrationRiskCreditRisk_zjrWQPaNwslb" STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify"><B><FONT STYLE="text-decoration: underline"><FONT ID="xdx_86F_zQuQaOuGhIjj">Concentrations</FONT></FONT></B></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify">&#160;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify"><B>Cash Concentrations</B></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify">&#160;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify">Cash is maintained at financial institutions and
at times, balances may exceed federally insured limits. We have not experienced any losses related to these balances. As of December
31, 2024 and 2023, the Company had balances in a financial institution which combined exceeded federally insured limits by
approximately $<FONT ID="xdx_902_eus-gaap--CashUninsuredAmount_c20241231_pp0p0" TITLE="Federally insured limits">5,422,404</FONT>
and $<FONT ID="xdx_90D_eus-gaap--CashUninsuredAmount_iI_pp0p0_c20231231_zPNACjGbjEY2" TITLE="Federally insured limits">1,948,794</FONT>,
respectively. Any loss incurred or a lack of access to such funds could have a significant adverse impact on the
Company&#8217;s consolidated financial condition, results of operation and cash flows.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify">&#160;</P>


<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify"></P>


<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify"><B>Significant Customers and Concentration of Credit
Risk</B></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify">&#160;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify">The Company had certain customers whose revenue individually
represented 10% or more of the Company&#8217;s total revenue, or whose accounts receivable balances individually represented 10% or more
of the Company&#8217;s total accounts receivable, as follows:</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify">&#160;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify">For the year ended December 31, 2024, four customers
accounted for <FONT ID="xdx_901_ecustom--ConcentrationRiskThresholdPercentage_c20240101__20241231__srt--MajorCustomersAxis__custom--Customer1Member__us-gaap--ConcentrationRiskByBenchmarkAxis__us-gaap--SalesRevenueNetMember__us-gaap--ConcentrationRiskByTypeAxis__us-gaap--CustomerConcentrationRiskMember_zj8JFUFfOksf" TITLE="Concentration risk, percentage">34%</FONT>, <FONT ID="xdx_903_ecustom--ConcentrationRiskThresholdPercentage_c20240101__20241231__srt--MajorCustomersAxis__custom--Customer2Member__us-gaap--ConcentrationRiskByBenchmarkAxis__us-gaap--SalesRevenueNetMember__us-gaap--ConcentrationRiskByTypeAxis__us-gaap--CustomerConcentrationRiskMember_zHq2FTusrH93" TITLE="Concentration risk, percentage">31%</FONT>, <FONT ID="xdx_905_ecustom--ConcentrationRiskThresholdPercentage_c20240101__20241231__srt--MajorCustomersAxis__custom--Customer3Member__us-gaap--ConcentrationRiskByBenchmarkAxis__us-gaap--SalesRevenueNetMember__us-gaap--ConcentrationRiskByTypeAxis__us-gaap--CustomerConcentrationRiskMember_zaJuxAyOvUz" TITLE="Concentration risk, percentage">13%</FONT>, and <FONT ID="xdx_900_ecustom--ConcentrationRiskThresholdPercentage_c20240101__20241231__srt--MajorCustomersAxis__custom--Customer4Member__us-gaap--ConcentrationRiskByBenchmarkAxis__us-gaap--SalesRevenueNetMember__us-gaap--ConcentrationRiskByTypeAxis__us-gaap--CustomerConcentrationRiskMember_zsAVkP8fA4B2" TITLE="Concentration risk, percentage">12%</FONT> of revenues. For the year ended December 31, 2023, three customers accounted for <FONT ID="xdx_90D_ecustom--ConcentrationRiskThresholdPercentage_c20230101__20231231__srt--MajorCustomersAxis__custom--Customer1Member__us-gaap--ConcentrationRiskByBenchmarkAxis__us-gaap--SalesRevenueNetMember__us-gaap--ConcentrationRiskByTypeAxis__us-gaap--CustomerConcentrationRiskMember_zri24db36bDd" TITLE="Concentration risk, percentage">48%</FONT>, <FONT ID="xdx_90E_ecustom--ConcentrationRiskThresholdPercentage_c20230101__20231231__srt--MajorCustomersAxis__custom--Customer2Member__us-gaap--ConcentrationRiskByBenchmarkAxis__us-gaap--SalesRevenueNetMember__us-gaap--ConcentrationRiskByTypeAxis__us-gaap--CustomerConcentrationRiskMember_zfQTdt39C3Gl" TITLE="Concentration risk, percentage">30%</FONT>, and <FONT ID="xdx_907_ecustom--ConcentrationRiskThresholdPercentage_c20230101__20231231__srt--MajorCustomersAxis__custom--Customer3Member__us-gaap--ConcentrationRiskByBenchmarkAxis__us-gaap--SalesRevenueNetMember__us-gaap--ConcentrationRiskByTypeAxis__us-gaap--CustomerConcentrationRiskMember_zga6msAe5sfe" TITLE="Concentration risk, percentage">11%</FONT>
of revenues. In all cases, there are no minimum contract values stated. Each contract covers an agreement to deliver a rail inspection
portal which, once accepted, must be paid in full, with 30% or more being due and payable prior to delivery. The balances of the contracts
are for service and maintenance, which is paid annually in advance with revenues recorded ratably over the contract period.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify">&#160;&#160;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify">At December 31, 2024, three customers accounted
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<FONT ID="xdx_905_ecustom--ConcentrationRiskThresholdPercentage_c20240101__20241231__srt--MajorCustomersAxis__custom--Customer2Member__us-gaap--ConcentrationRiskByBenchmarkAxis__us-gaap--AccountsReceivableMember__us-gaap--ConcentrationRiskByTypeAxis__us-gaap--CustomerConcentrationRiskMember_zgGvhAmz4lNi" TITLE="Concentration risk, percentage">17%</FONT> and <FONT ID="xdx_902_ecustom--ConcentrationRiskThresholdPercentage_c20240101__20241231__srt--MajorCustomersAxis__custom--Customer3Member__us-gaap--ConcentrationRiskByBenchmarkAxis__us-gaap--AccountsReceivableMember__us-gaap--ConcentrationRiskByTypeAxis__us-gaap--CustomerConcentrationRiskMember_zv68h9DLS7Qi" TITLE="Concentration risk, percentage">10%</FONT>,
of accounts receivable. At December 31, 2023, two customers accounted for <FONT ID="xdx_90F_ecustom--ConcentrationRiskThresholdPercentage_c20230101__20231231__srt--MajorCustomersAxis__custom--Customer1Member__us-gaap--ConcentrationRiskByBenchmarkAxis__us-gaap--AccountsReceivableMember__us-gaap--ConcentrationRiskByTypeAxis__us-gaap--CustomerConcentrationRiskMember_zziuclTg7pG5" TITLE="Concentration risk, percentage">83%</FONT>
and <FONT ID="xdx_901_ecustom--ConcentrationRiskThresholdPercentage_c20230101__20231231__srt--MajorCustomersAxis__custom--Customer2Member__us-gaap--ConcentrationRiskByBenchmarkAxis__us-gaap--AccountsReceivableMember__us-gaap--ConcentrationRiskByTypeAxis__us-gaap--CustomerConcentrationRiskMember_zocwqG2wZjVg" TITLE="Concentration risk, percentage">11%</FONT>
of accounts receivable. Much of the credit risk is mitigated since all of the customers listed here are Class 1 railroads with a
history of timely payments to us.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify">&#160;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify"><B>Geographic Concentration</B></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify"><B>&#160;</B></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify">Approximately <FONT ID="xdx_906_ecustom--ConcentrationRiskThresholdPercentage_c20240101__20241231__srt--MajorCustomersAxis__custom--ThreeCustomerMember__us-gaap--ConcentrationRiskByBenchmarkAxis__us-gaap--SalesRevenueNetMember__us-gaap--ConcentrationRiskByTypeAxis__us-gaap--CustomerConcentrationRiskMember__srt--StatementGeographicalAxis__country--US_z2TTMvlU89k9" TITLE="Concentration risk, percentage">45%</FONT> and <FONT ID="xdx_903_ecustom--ConcentrationRiskThresholdPercentage_c20230101__20231231__srt--MajorCustomersAxis__custom--ThreeCustomerMember__us-gaap--ConcentrationRiskByBenchmarkAxis__us-gaap--SalesRevenueNetMember__us-gaap--ConcentrationRiskByTypeAxis__us-gaap--CustomerConcentrationRiskMember__srt--StatementGeographicalAxis__country--US_zwplYV2MCPXg" TITLE="Concentration risk, percentage">44%</FONT> of revenue in 2024 and 2023, respectively,
is generated from customers outside of the United States.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify"><B>&#160;</B></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify"><B>Significant Vendors and Concentration of Credit
Risk</B></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify"><B>&#160;</B></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify">In some instances, the Company relies on a limited
pool of vendors for key components related to the manufacturing of its subsystems. These vendors are primarily focused on camera, server
and lighting technologies integral to the Company&#8217;s solution. Where possible, the Company seeks multiple vendors for key components
to mitigate vendor concentration risk.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify">&#160;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify"></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0"></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify"></P>

<P ID="xdx_842_eus-gaap--FairValueMeasurementPolicyPolicyTextBlock_zKNaxuf4mOSl" STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify"><B><FONT STYLE="text-decoration: underline"><FONT ID="xdx_86B_z58IvJwNoWTa">Fair Value of Financial Instruments and Fair
Value Measurements</FONT></FONT></B></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify">&#160;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify">The Company follows Accounting Standards Codification
(&#8220;ASC&#8221;) 820, &#8220;Fair Value Measurements and Disclosures&#8221; (&#8220;ASC 820&#8221;), for assets and liabilities measured
at fair value on a recurring basis. ASC 820 establishes a common definition for fair value to be applied to existing generally accepted
accounting principles that requires the use of fair value measurements, establishes a framework for measuring fair value and expands disclosure
about such fair value measurements.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify">&#160;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify">ASC&#160;820 defines fair value as the price that
would be received to sell an asset or paid to transfer a liability in an orderly transaction between market participants at the measurement
date. Additionally, ASC&#160;820 requires the use of valuation techniques that maximize the use of observable inputs and minimize the
use of unobservable inputs.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify">&#160;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify">These inputs are prioritized below:&#160;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify">&#160;</P>

<TABLE CELLSPACING="0" CELLPADDING="0" STYLE="font: 11pt Arial, Helvetica, Sans-Serif; width: 100%; border-collapse: collapse">
  <TR STYLE="vertical-align: top">
    <TD STYLE="width: 10%; text-align: justify"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">Level 1:</FONT></TD>
    <TD STYLE="width: 90%">
    <P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0 4.5pt 0 0; text-align: justify">Observable inputs such as quoted market
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    <P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0 4.5pt 0 0; text-align: justify">&#160;</P></TD></TR>
  <TR STYLE="vertical-align: top">
    <TD STYLE="text-align: justify"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">Level 2:</FONT></TD>
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    <P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0 0.8pt 0 0; text-align: justify">Observable market-based inputs or unobservable
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    <P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify">Unobservable inputs for which there is little or no
    market data, which require the use of the reporting entity&#8217;s own assumptions that the market participants would use in the valuation
    of the asset or liability based on the best available information.</P>
    <P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify">&#160;</P></TD></TR>
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<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify">&#160;</P>

<P ID="xdx_23A_z4zcwXetk2s3" STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify">&#160;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify"></P>

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    <!-- Field: /Page -->

<P ID="xdx_236_zX1M1a0Ovhf2" STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify">&#160;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify">The Company analyzes all financial instruments with
features of both liabilities and equity under the Financial Accounting Standard Board&#8217;s (&#8220;FASB&#8221;) accounting standard
for such instruments. Under this standard, financial assets and liabilities are classified in their entirety based on the lowest level
of input that is significant to the fair value measurement.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify">&#160;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify">The estimated fair value of certain financial instruments,
including accounts receivable, prepaid expenses, accounts payable, accrued expenses and notes payable are carried at historical cost basis,
which approximates their fair values because of the short-term nature of these instruments.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify">&#160;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify">The changes in level 3 valuations for the year ended
December 31, 2024, was as follows:</P>

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  <TR STYLE="vertical-align: bottom">
    <TD ID="xdx_8B6_zw7QOPTMsPk2"><FONT STYLE="display: none; font-size: 8pt">&#160;Schedule of fair value of financial instruments</FONT></TD><TD><FONT STYLE="font-size: 8pt">&#160;</FONT></TD>
    <TD COLSPAN="2" STYLE="text-align: center"><FONT STYLE="font-size: 8pt">&#160;</FONT></TD><TD><FONT STYLE="font-size: 8pt">&#160;</FONT></TD></TR>
  <TR STYLE="vertical-align: bottom">
    <TD><FONT STYLE="font-size: 8pt">&#160;</FONT></TD><TD STYLE="font: bold 10pt Times New Roman, Times, Serif"><FONT STYLE="font-size: 8pt">&#160;</FONT></TD>
    <TD COLSPAN="2" STYLE="font: bold 10pt Times New Roman, Times, Serif; text-align: center"><FONT STYLE="font-size: 8pt">December 31,</FONT></TD><TD STYLE="font: bold 10pt Times New Roman, Times, Serif"><FONT STYLE="font-size: 8pt">&#160;</FONT></TD></TR>
  <TR STYLE="vertical-align: bottom">
    <TD><FONT STYLE="font-size: 8pt">&#160;</FONT></TD><TD STYLE="font: bold 10pt Times New Roman, Times, Serif; padding-bottom: 1pt"><FONT STYLE="font-size: 8pt">&#160;</FONT></TD>
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    <TD STYLE="font: 10pt Times New Roman, Times, Serif">December 31, 2023</TD><TD STYLE="font: 10pt Times New Roman, Times, Serif">&#160;</TD>
    <TD STYLE="font: 10pt Times New Roman, Times, Serif; text-align: left">$</TD><TD ID="xdx_981_eus-gaap--FinancialLiabilitiesFairValueDisclosure_iS_pp0p0_c20240101__20241231_z332cbuCkFkk" TITLE="Fire valu financial liabilities, at begining" STYLE="font: 10pt Times New Roman, Times, Serif; text-align: right">&#8212;</TD><TD STYLE="font: 10pt Times New Roman, Times, Serif; text-align: left">&#160;</TD></TR>
  <TR STYLE="vertical-align: bottom; background-color: White">
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  <TR STYLE="vertical-align: bottom; background-color: rgb(204,238,255)">
    <TD STYLE="font: 10pt Times New Roman, Times, Serif; text-align: left">Change in fair value</TD><TD STYLE="font: 10pt Times New Roman, Times, Serif">&#160;</TD>
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    <TD STYLE="font: 10pt Times New Roman, Times, Serif; text-align: left; padding-bottom: 1pt">Gain on extinguishment</TD><TD STYLE="font: 10pt Times New Roman, Times, Serif; padding-bottom: 1pt">&#160;</TD>
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<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify"></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify">&#160;</P>

<P ID="xdx_847_eus-gaap--TradeAndOtherAccountsReceivablePolicy_zd23LKcBL5Xf" STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify"><B><FONT STYLE="text-decoration: underline"><FONT ID="xdx_861_zi7t4Lc23uo1">Accounts Receivable</FONT></FONT></B></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify">&#160;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify">On January 1, 2023, the Company adopted ASC 326,
&#34;Financial Instruments - Credit Losses&#34;. In accordance with ASC 326, an allowance for credit losses is maintained for
estimated forward-looking losses resulting from the possible inability of customers to make required payments (current expected
losses). The amount of the allowance is determined principally on the basis of past collection experience and known financial
factors regarding specific customers.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify">&#160;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify">Accounts receivable are stated at estimated net realizable
value. Accounts receivable are comprised of balances due from customers net of estimated allowances for credit losses. In determining
the collections on the account, historical trends are evaluated, and specific customer issues are reviewed to arrive at appropriate allowances.
The Company reviews its accounts to estimate losses resulting from the inability of its customers to make required payments. Any required
allowance is based on specific analysis of past due accounts and also considers historical trends of write-offs. Past due status is based
on how recently payments have been received from customers.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify"><B>&#160;</B></P>

<P ID="xdx_849_eus-gaap--InventoryPolicyTextBlock_zL053i3gG7od" STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify"><B><FONT STYLE="text-decoration: underline"><FONT ID="xdx_862_zGb1qQLMB9kh">Inventory</FONT></FONT></B></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify"><B>&#160;</B></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify">Inventory consists primarily of spare parts and consumables
and long-lead time components to be used in the production of our technology systems or in connection with maintenance agreements with
customers. Any inventory deemed to be obsolete is written off. Inventory is stated at the lower of cost or net realizable value. Inventory
cost is primarily determined using the weighted average cost method.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify">&#160;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify">The Company classifies inventory as a current asset
when it is expected to be sold or utilized in production within the normal operating cycle, typically twenty-four months. Inventory that
is determined to be slow-moving or not expected to be sold or utilized within the next twenty-four months is reclassified to non-current
assets under Non-current inventory</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify">&#160;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify">The assessment of slow-moving inventory is based on
historical sales trends, demand forecasts, and management&#8217;s judgment regarding market conditions. Once reclassified, the inventory
is reviewed annually for impairment, and any necessary write-downs are recognized in the consolidated statement of operations.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify">&#160;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify">As of December 31, 2024, the Company recognized an
inventory write-off of $<FONT ID="xdx_90E_ecustom--InventoryWriteoff_c20240101__20241231_zwjLpdS9zAO3" TITLE="Inventory write-off">126,703</FONT>. This write-off was primarily due to inventory that was deemed obsolete. The write-off was recorded as a
reduction to the carrying value of inventory and recorded to general and administration as an expense in the period. The Company continuously
evaluates the recoverability of its inventory. There are no material impacts on the Company's financial position as a result of the write-off.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify"></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify">&#160;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0">For the year ended December 31, 2024, the Company reclassified $<FONT ID="xdx_90D_eus-gaap--InventoryNoncurrent_c20241231_pp0p0" TITLE="Inventory non- current assets">196,315</FONT>
of inventory to non-current assets due to extended product cycles. This reclassification did not have a material impact on the Company&#8217;s
financial position or results of operations.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify">&#160;</P>

<P ID="xdx_233_zr1b1jYseVka" STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify">&#160;</P>


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<P ID="xdx_23C_zxiyn0gnaZS2" STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0">&#160;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0"></P>

<P ID="xdx_844_eus-gaap--IntangibleAssetsFiniteLivedPolicy_zivRto4akDU6" STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify"><B><FONT STYLE="text-decoration: underline"><FONT ID="xdx_869_ziGuU0QodgUf">Intangible Asset </FONT></FONT></B></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify">&#160;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify">In May 2024, the Company recognized an intangible
asset which represents digital image data rights received under a license agreement as non-monetary consideration under a five-year customer
contract. The intangible asset will be amortized over the five-year contractual term.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify"><B>&#160;</B></P>

<P ID="xdx_849_eus-gaap--PropertyPlantAndEquipmentPolicyTextBlock_z1EhWKu5p0m7" STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify"><B><FONT STYLE="text-decoration: underline"><FONT ID="xdx_866_zNNCMbFPvdS6">Property and Equipment</FONT></FONT></B></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify">&#160;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify">Property and equipment are stated at cost, less accumulated
depreciation. Depreciation is provided by the straight-line method over the estimated economic life of the property and equipment (three
to five years). When assets are sold or retired, their costs and accumulated depreciation are eliminated from the accounts and any gain
or loss resulting from their disposal is included in the statement of operations. Leasehold improvements are expensed over the shorter
of the term of our lease or their useful lives.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify">&#160;</P>

<P ID="xdx_84D_eus-gaap--ResearchDevelopmentAndComputerSoftwarePolicyTextBlock_zTzn5MaSIPC" STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify"><B><FONT STYLE="text-decoration: underline"><FONT ID="xdx_867_zaX3kBGQI8Hj">Software Development Costs</FONT></FONT></B></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify">&#160;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify">Software development costs incurred prior to
establishing technological feasibility are charged to operations and included in research and development costs. The technological feasibility
of a software product is established when the Company has completed all planning, designing, coding, and testing activities that are necessary
to establish that the product meets its design specifications, including functionality, features, and technical performance requirements.
Software development costs incurred after establishing technological&#160;feasibility for software sold as a perpetual license, as defined
within ASC 985-20 (Software &#8211; Costs of Software to be Sold, Leased, or Marketed) are capitalized and amortized on a product-by-product
basis when the product is available for general release to customers. Software development costs are evaluated for impairment annually
by comparing the net realizable value to the unamortized capitalization costs and writing these costs down to net realizable value.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify">&#160;</P>

<P ID="xdx_848_ecustom--PatentsAndTrademarksPolicyTextBlock_zqHQk7xlyOA8" STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify"><B><FONT STYLE="text-decoration: underline"><FONT ID="xdx_86D_zdkzPhzdIWhg">Patents and Trademarks</FONT></FONT></B></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify">&#160;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify">Patents and trademarks which are stated at amortized
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<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify"><B>&#160;</B></P>

<P ID="xdx_841_ecustom--LonglivedAssetsTextBlock_zg17oRHxV19k" STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify"><B><FONT STYLE="text-decoration: underline"><FONT ID="xdx_865_zrncRrJXJbVg">Long-Lived Assets</FONT></FONT></B></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify">&#160;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify">The Company evaluates the recoverability of its
property, equipment, and other long-lived assets, including finite-lived intangible assets, in accordance with FASB ASC 360-10-35-15
&#8220;Impairment or Disposal of Long-Lived Assets&#8221;, which requires recognition of impairment of long-lived assets in the
event there are indicators of impairment and the net book values of such assets exceed the estimated future undiscounted cash flows
attributable to such assets or the business to which such intangible assets relate. This guidance requires that long-lived assets
and certain identifiable intangibles be reviewed for impairment whenever events or changes in circumstances indicate that the
carrying amount of an asset may not be recoverable. Recoverability of assets to be held and used is measured by a comparison of the
carrying amount of an asset to future undiscounted net cash flows expected to be generated by the asset. If such assets are
considered to be impaired, the impairment to be recognized is measured by the amount by which the carrying amount of the assets
exceeds the fair value of the assets. Assets to be disposed of are reported at the lower of the carrying amount or fair value less
costs to sell.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify">&#160;</P>

<P ID="xdx_84E_eus-gaap--EquityMethodInvestmentsPolicy_zCZg5hQ8Drzh" STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify"><B><FONT STYLE="text-decoration: underline"><FONT ID="xdx_864_z3PNMUrKwjV">Equity Method Investments</FONT></FONT></B></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify">&#160;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify">If an investment qualifies for the equity method of accounting, the Company&#8217;s
investment is recorded initially at cost and subsequently adjusted for equity in net income (loss) and cash contributions and distributions.
The net income or loss of an unconsolidated equity method investment is allocated to its investors in accordance with the provisions of
the operating agreement of the entity. The allocation provisions in these agreements may differ from the ownership interest held by each
investor. Differences, if any, between the carrying amount of our investment in the respective equity method investee and the Company&#8217;s
share of the underlying equity of such equity method investee are amortized over the respective lives of the underlying assets as applicable.
These items are reported as a single line item in the consolidated statements of operations as income or loss from investments in unconsolidated
equity method investees. Investments are reviewed for changes in circumstance or the occurrence of events that suggest an other-than-temporary
event where our investment may not be recoverable.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0">&#160;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify">On December 31, 2024, the Company entered into an
Asset Management Agreement (the &#8220;AMA&#8221;), with New APR, an entity formed by affiliates of FIG. Under
the AMA, Duos Energy will manage the deployment and operations of a fleet of mobile gas turbines and balance-of-plant inventory, providing
management, sales and operations functions to New APR in connection with the assets. In exchange for services to be performed under the
AMA, the Company received an initial cash payment and common units in Sawgrass Parent. While the Company has board representation in Sawgrass
Parent, its common units are non-voting and the Company does not control the board of directors of Sawgrass Parent.</P>

<P STYLE="font: 10pt/115% Times New Roman, Times, Serif; margin: 0">&#160;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify"></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify">&#160;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify"></P>

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<P ID="xdx_232_zzpO7ByDvea6" STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify">&#160;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify">Where the Company has an interest in a Variable Interest
Entities (&#8220;VIE&#8221;) it will consolidate any VIE in which the Company has a controlling financial interest and deemed to be the
primary beneficiary. A controlling financial interest has both of the following characteristics: (1) the power to direct the activities
of the VIE that most significantly impact its economic performance; and (2) the obligation to absorb losses of the VIE that could potentially
be significant to the VIE or the right to receive benefits from the VIE that could be significant to the VIE. If both of the characteristics
are met, the Company is considered to be the primary beneficiary and therefore will consolidate that VIE into the consolidated financial
statements.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify">&#160;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify">Investments in partnerships, unincorporated joint
ventures and LLCs that maintain specific ownership accounts for each investor are excluded from the scope of ASC 323-10. However, ASC
323-30 provides guidance on applying the criteria for equity method accounting to investments in partnerships, unincorporated joint ventures
and LLCs. When an investor in a partnership, unincorporated joint venture or LLC has the ability to exercise significant influence over
that investment, it should apply the equity method (ASC 323-10) by analogy (ASC 323-30-25-1).</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify">&#160;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify">Sawgrass Parent is deemed to be a VIE and the Company
holds a 5% interest in the Parent and an interest in the subsidiary New APR through the AMA, both of which are considered variable interests.
However, the Company does not represent the primary beneficiary as it does not possess the ability to direct the activities that most
significantly impact the economic performance of Sawgrass Parent. Accordingly, the Company does not consolidate Sawgrass Parent. Due to
the Company&#8217;s interest in Sawgrass Parent, it was determined that the Company has significant influence over Sawgrass Parent. Therefore,
the Company accounts for its investment in Sawgrass Parent as an Equity Method Investment.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify">&#160;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify">The Company also concluded that the arrangement
with Sawgrass Parent is within the scope of ASC 606, Revenue from contracts with customers, and the common units issued to the
Company by Sawgrass Parent represented non-cash consideration. The initial carrying value of the equity method investment as of
December 31, 2024 of $7.2 million was measured equal to the fair value of the common units received for future services to be
performed under the AMA. The Company recorded $7.2 million of deferred revenue for services to be performed under the AMA. During
the year ended December 31, 2024, the Company did not recognize any revenue associated with the AMA. The Company will initially
record the equity method investment in Sawgrass Parent of $7.2 million, equal to the fair value of the common units as of December
31, 2024.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify">&#160;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify">The Company assesses its equity method investment
for impairment whenever events or changes in circumstances indicate that the carrying amount of the investment may not be recoverable.
No impairment losses were recognized during the year ended December 31, 2024.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify">&#160;</P>

<P ID="xdx_840_eus-gaap--GuaranteesIndemnificationsAndWarrantiesPolicies_z8Ix5WC384V1" STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify"><B><FONT STYLE="text-decoration: underline"><FONT ID="xdx_862_zkgY7uQ9mbL3">Product Warranties</FONT></FONT></B></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify">&#160;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify">The Company has a <FONT ID="xdx_904_ecustom--ProductWarrantyPeriod_dtD_c20240101__20241231_zYJwcNhOChF5" TITLE="Product warranty Period">90</FONT>-day warranty period for materials
and labor after final acceptance of a project. If any parts are defective they are replaced under our vendor warranty which is usually
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fails or is unable to correct any deviations, a full refund of all payments made by the customer will be arranged by the Company. As of
December 31, 2024 and 2023, the warranty costs have been de-minimis, therefore no accrual of warranty liability has been made.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify">&#160;</P>

<P ID="xdx_84C_eus-gaap--LoanCommitmentsPolicy_zQeEQBNlcZa6" STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify"><B><FONT STYLE="text-decoration: underline"><FONT ID="xdx_861_zegIDae68Yxl">Loan Costs</FONT></FONT></B></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify"><B>&#160;</B></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify">Loan costs paid to lenders, or third parties are recorded
as debt discounts to the related loans and amortized to interest expense over the loan term.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify">&#160;</P>

<P ID="xdx_84A_ecustom--SalesReturnPolicyTextBlock_zrVo3InAAgVa" STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify"><B><FONT STYLE="text-decoration: underline"><FONT ID="xdx_861_zQSf7T3d2wai">Sales Returns</FONT></FONT></B></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify">&#160;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify">Our systems are sold as integrated systems and there
are no sales returns allowed.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify">&#160;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify"><B><FONT STYLE="text-decoration: underline"></FONT></B></P>

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<P ID="xdx_23C_zPrmQ2ftmka9" STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify"><B>&#160;</B>&#160;</P>

<P ID="xdx_841_eus-gaap--RevenueFromContractWithCustomerPolicyTextBlock_zJw6OWQpfA3f" STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify"><B><FONT STYLE="text-decoration: underline"><FONT ID="xdx_868_zfQbE9tVWYIj">Revenue Recognition</FONT></FONT></B></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify"><B>&#160;</B></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify">The Company follows Accounting Standards Codification
606, Revenue from Contracts with Customers (&#8220;ASC 606&#8221;), that affects the timing of when certain types of revenues will be
recognized. The basic principles in ASC 606 include the following: a contract with a customer creates distinct contract assets and performance
obligations, satisfaction of a performance obligation creates revenue, and a performance obligation is satisfied upon transfer of control
to a good or service to a customer.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify">&#160;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify">Revenue is recognized by evaluating our revenue contracts
with customers based on the five-step model under ASC 606:</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify">&#160;</P>

<TABLE CELLSPACING="0" CELLPADDING="0" STYLE="font: 11pt Arial, Helvetica, Sans-Serif; width: 100%; border-collapse: collapse">
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<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0 0 0 0.5in; text-align: justify">&#160;</P>

<TABLE CELLSPACING="0" CELLPADDING="0" STYLE="font: 11pt Arial, Helvetica, Sans-Serif; width: 100%; border-collapse: collapse">
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<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify">&#160;</P>

<TABLE CELLSPACING="0" CELLPADDING="0" STYLE="font: 11pt Arial, Helvetica, Sans-Serif; width: 100%; border-collapse: collapse">
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<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify">&#160;</P>

<TABLE CELLSPACING="0" CELLPADDING="0" STYLE="font: 11pt Arial, Helvetica, Sans-Serif; width: 100%; border-collapse: collapse">
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<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify">&#160;</P>

<TABLE CELLSPACING="0" CELLPADDING="0" STYLE="font: 11pt Arial, Helvetica, Sans-Serif; width: 100%; border-collapse: collapse">
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<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify">&#160;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify">The Company generates revenue from four sources:</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify">&#160;</P>

<TABLE CELLPADDING="0" CELLSPACING="0" STYLE="font: 11pt Times New Roman, Times, Serif; width: 100%; margin-top: 0; margin-bottom: 0"><TR STYLE="vertical-align: top">
<TD STYLE="width: 0.25in"></TD><TD STYLE="width: 0.25in"><FONT STYLE="font-size: 10pt">(1)</FONT></TD><TD STYLE="text-align: justify"><FONT STYLE="font-size: 10pt">Technology Systems</FONT></TD></TR></TABLE>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0 0 0 0.5in; text-align: justify">&#160;</P>

<TABLE CELLPADDING="0" CELLSPACING="0" STYLE="font: 11pt Times New Roman, Times, Serif; width: 100%; margin-top: 0; margin-bottom: 0"><TR STYLE="vertical-align: top">
<TD STYLE="width: 0.25in"></TD><TD STYLE="width: 0.25in"><FONT STYLE="font-size: 10pt">(2)</FONT></TD><TD STYLE="text-align: justify"><FONT STYLE="font-size: 10pt">AI Technologies</FONT></TD></TR></TABLE>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify">&#160;</P>

<TABLE CELLPADDING="0" CELLSPACING="0" STYLE="font: 11pt Times New Roman, Times, Serif; width: 100%; margin-top: 0; margin-bottom: 0"><TR STYLE="vertical-align: top">
<TD STYLE="width: 0.25in"></TD><TD STYLE="width: 0.25in"><FONT STYLE="font-size: 10pt">(3)</FONT></TD><TD STYLE="text-align: justify"><FONT STYLE="font-size: 10pt">Technical Support</FONT></TD></TR></TABLE>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify">&#160;</P>

<TABLE CELLPADDING="0" CELLSPACING="0" STYLE="font: 11pt Times New Roman, Times, Serif; width: 100%; margin-top: 0; margin-bottom: 0"><TR STYLE="vertical-align: top">
<TD STYLE="width: 0.25in"></TD><TD STYLE="width: 0.25in"><FONT STYLE="font-size: 10pt">(4)</FONT></TD><TD STYLE="text-align: justify"><FONT STYLE="font-size: 10pt">Consulting services  including revenues from the AMA agreement which begins in January 2025</FONT> </TD></TR></TABLE>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify">&#160;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify"><B><FONT STYLE="text-decoration: underline">Technology Systems</FONT></B></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify">&#160;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify">For revenues related to technology systems, the Company
recognizes revenue over time using a cost-based input methodology in which significant judgment is required to estimate costs to complete
projects. These estimated costs are then used to determine the progress towards contract completion and the corresponding amount of revenue
to recognize.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify">&#160;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify">Accordingly, the Company now bases its revenue recognition
on ASC 606-10-25-27, where control of a good or service transfers over time if the entity&#8217;s performance does not create an asset
with an alternative use to the entity and the entity has an enforceable right to payment for performance completed to date including a
profit margin or reasonable return on capital. Control is deemed to pass to the customer instantaneously as the goods are manufactured
and revenue is recognized accordingly.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify">&#160;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify">In addition, the Company has adopted ASC 606-10-55-21
such that if the cost incurred is not proportionate to the progress in satisfying the performance obligation, we adjust the input method
to recognize revenue only to the extent of the cost incurred. Therefore, the Company will recognize revenue at an equal amount to the
cost of the goods to satisfy the performance obligation. To accurately reflect revenue recognition based on the input method, the Company
has adopted the implementation guidance as set out in ASC-606-10-55-187 through 192.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify">&#160;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify">Under this method, contract revenues are recognized
over the performance period of the contract in direct proportion to the costs incurred. Costs include direct material, direct labor, subcontract
labor and other allocable indirect costs. All un-allocable indirect costs and corporate general and administrative costs are also charged
to the periods as incurred. Any recognized revenues that have not been billed to a customer are recorded as an asset in &#8220;contract
assets&#8221;. Any billings of customers more than recognized revenues are recorded as a liability in &#8220;contract liabilities&#8221;.
However, in the event a loss on a contract is foreseen, the Company will recognize the loss when such loss is determined to be both probable
and reasonably estimable.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify">&#160;</P>

<P ID="xdx_232_zsDHYcUiAckl" STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify">&#160;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify"></P>

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<P ID="xdx_239_zXpXeKioJLg6" STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify">&#160;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify"><B><FONT STYLE="text-decoration: underline">AI Technologies</FONT></B></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify">&#160;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify">The Company has revenue from applications that incorporate
artificial intelligence (AI) in the form of predetermined algorithms which provide important operating information to the users of our
systems. The revenue generated from these applications of AI consists of a fixed fee related to the design, development, testing and incorporation
of new algorithms into the system, which is recognized as revenue at a point in time upon acceptance, as well as an annual application
maintenance fee, which is recognized as revenue ratably over the contracted maintenance term.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify">&#160;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify"><B><FONT STYLE="text-decoration: underline">Technical Support</FONT></B></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify">&#160;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify">Technical support services are provided on both an
as-needed and extended-term basis and may include providing both parts and labor. Maintenance and technical support provided outside of
a maintenance contract are on an &#8220;as-requested&#8221; basis, and revenue is recognized over time as the services are provided. Revenue
for maintenance and technical support provided on an extended-term basis is recognized over time ratably over the term of the contract.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify">&#160;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify"><B><FONT STYLE="text-decoration: underline">Consulting Services</FONT></B></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify">&#160;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify">The Company&#8217;s consulting services business
generates revenues under contracts with customers from four sources: (1) Professional Services (consulting and auditing and including revenues from the AMA agreement which begins in January 2025); (2)
Software licensing with optional hardware sales; (3) Customer service training and (4) Maintenance/support.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0 0 0 0.5in; text-align: justify">&#160;</P>

<TABLE CELLPADDING="0" CELLSPACING="0" STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 6pt; width: 100%"><TR STYLE="vertical-align: top; text-align: justify">
<TD STYLE="width: 35pt; text-align: right">(1)</TD><TD STYLE="width: 5pt"></TD><TD STYLE="text-align: justify">Revenues for professional services, which are of short-term duration, are recognized when
services are completed;</TD>
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<TABLE CELLPADDING="0" CELLSPACING="0" STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 6pt; width: 100%"><TR STYLE="vertical-align: top; text-align: justify">
<TD STYLE="width: 35pt; text-align: right">(2)</TD><TD STYLE="width: 5pt"></TD><TD STYLE="text-align: justify">For all periods reflected in this report, software license sales have been one-time sales
of a perpetual license to use our software product and the customer also has the option to purchase third-party manufactured handheld
devices from us if they purchase our software license. Accordingly, the revenue is recognized upon delivery of the software and delivery
of the hardware, as applicable, to the customer;</TD>
</TR></TABLE>

<TABLE CELLPADDING="0" CELLSPACING="0" STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 6pt; width: 100%"><TR STYLE="vertical-align: top; text-align: justify">
<TD STYLE="width: 35pt; text-align: right">(3)</TD><TD STYLE="width: 5pt"></TD><TD STYLE="text-align: justify">Training sales are one-time upfront short-term training sessions and are recognized after
the service has been performed; and</TD>
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<TD STYLE="width: 35pt; text-align: right">(4)</TD><TD STYLE="width: 5pt"></TD><TD STYLE="text-align: justify">Maintenance/support is an optional product sold to our software license customers under one-year
contracts. Accordingly, maintenance payments received upfront are deferred and recognized over the contract term.</TD>
</TR></TABLE>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify">&#160;</P>

<P ID="xdx_840_ecustom--MultiplePerformanceObligationsAndAllocationOfTransactionPricePolicyTextBlock_zQtJDQleZMn4" STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify"><B><FONT STYLE="text-decoration: underline"><FONT ID="xdx_86A_zdnKAzacq8ub">Multiple Performance Obligations and Allocation
of Transaction Price</FONT></FONT></B></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify">&#160;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify">Arrangements with customers may involve multiple performance
obligations including project revenue and maintenance services in our Technology Systems business. Maintenance will occur after the project
is completed and may be provided on an extended-term basis or on an as-needed basis. In our consulting services business, multiple performance
obligations may include any of the above four sources. Training and maintenance on software products may occur after the software product
sale while other services may occur before or after the software product sale and may not relate to the software product. Revenue recognition
for a multiple performance obligations arrangement is as follows:</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify">&#160;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify">Each performance obligation is accounted for separately
when each has value to the customer on a standalone basis and there is Company specific objective evidence of the selling price of each
deliverable. For revenue arrangements with multiple deliverables, the Company allocates the total customer arrangement to the separate
units of accounting based on their relative selling prices as determined by the price of the items when sold separately. Once the selling
price is allocated, the revenue for each performance obligation is recognized using the applicable criteria under GAAP as discussed above
for performance obligations sold in single performance obligation arrangements. A delivered item or items that do not qualify as a separate
unit of accounting within the arrangement are combined with the other applicable undelivered items within the arrangement. The allocation
of arrangement consideration and the recognition of revenue is then determined for those combined deliverables as a single unit of accounting.
The Company sells its various services and software and hardware products at established prices on a standalone basis which provides Company
specific objective evidence of selling price for purposes of performance obligations relative selling price allocation. The Company only
sells maintenance services or spare parts based on its established rates after it has completed a system integration project for a customer.
The customer is not required to purchase maintenance services. All elements in multiple performance obligations arrangements with Company
customers qualify as separate units of account for revenue recognition purposes.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify"></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify"><B>&#160;</B></P>

<P ID="xdx_841_eus-gaap--CostOfSalesPolicyTextBlock_zddh5TbJ1OE8" STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify"><B><FONT STYLE="text-decoration: underline">Cos<FONT ID="xdx_86D_zeIp4Ivl3g23">t of Revenues</FONT></FONT></B></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify"><B>&#160;</B></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify">Cost of revenues primarily includes inventory, shipping,
certain fixed labor and overhead and allocated depreciation and amortization as applicable.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify"><B>&#160;</B></P>

<P ID="xdx_841_eus-gaap--AdvertisingCostsPolicyTextBlock_zHJVsWHGlMr6" STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify"><B><FONT STYLE="text-decoration: underline"><FONT ID="xdx_86F_zV5fDGSlDM9j">Advertising</FONT></FONT></B></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify"><B>&#160;</B></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify">The Company expenses the cost of advertising.
During the years ended December 31, 2024 and 2023, there were <FONT ID="xdx_907_eus-gaap--AdvertisingExpense_pp0p0_do_c20230101__20231231_ziRimwu7nIRi" TITLE="Advertising costs"><FONT ID="xdx_906_eus-gaap--AdvertisingExpense_pp0p0_do_c20240101__20241231_zrhYobnAEbXb" TITLE="Advertising costs">no</FONT></FONT> advertising costs.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify">&#160;</P>

<P ID="xdx_23E_z01ysw27hjT5" STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify">&#160;</P>


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<P ID="xdx_23C_zBU0QmreveN5" STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0">&#160;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0"></P>

<P ID="xdx_843_eus-gaap--ShareholdersEquityAndShareBasedPaymentsTextBlock_zfDQrfjkc30d" STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0"><B><FONT STYLE="text-decoration: underline"><FONT ID="xdx_86E_zwaGKMdHEkW6">Stock Based Compensation</FONT></FONT></B></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify"><B>&#160;</B></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify">The Company accounts for employee and non-employee
stock-based compensation in accordance with ASC 718-10, &#8220;<I>Share-Based Payment</I>,&#8221; which requires the measurement and recognition
of compensation expense for all share-based payment awards made to employees and directors including stock options, restricted stock units,
and employee stock purchases based on estimated fair values. The stock-based compensation carries a graded vesting feature subject to
the condition of time of employment service with awarded stock-based compensation tranches vesting evenly upon the anniversary date of
the award.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify"><B>&#160;</B></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify">The Company estimates the fair value of stock options
granted using the Black-Scholes option-pricing formula. In accordance with ASC 718-10-35-8, the Company elected to recognize the fair
value of the stock award using the graded vesting method as time of employment service is the criteria for vesting. The Company&#8217;s
determination of fair value using an option-pricing model is affected by the stock price as well as assumptions regarding a number of
highly subjective variables.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify">&#160;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify">The Company estimates volatility based upon the historical
stock price of the Company and estimates the expected term for stock options using the simplified method for employees and directors and
the contractual term for non-employees. The risk-free rate is determined based upon the prevailing rate of United States Treasury securities
with similar maturities.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify">&#160;</P>

<P ID="xdx_844_eus-gaap--IncomeTaxPolicyTextBlock_zmZ5ePZeBxr2" STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify"><B><FONT STYLE="text-decoration: underline"><FONT ID="xdx_863_zoNk33r08vn6">Income Taxes</FONT></FONT></B></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify">&#160;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify">The Company accounts for income taxes in accordance
with the Financial Accounting Standards Board FASB Accounting Standards Codification (&#8220;ASC&#8221;) 740, Income Taxes, which requires
the recognition of deferred income taxes for differences between the basis of assets and liabilities for financial statement and income
tax purposes. The deferred tax assets and liabilities represent the future tax return consequences of those differences, which will either
be taxable or deductible when the assets and liabilities are recovered or settled. Valuation allowances are established when necessary
to reduce deferred tax assets to the amount expected to be realized.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify">&#160;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify">The Company evaluates all significant tax positions
as required by ASC 740. As of December 31, 2024, the Company does not believe that it has taken any positions that would require the recording
of any additional tax liability, nor does it believe that there are any unrealized tax benefits that would either increase or decrease
within the next year.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify">&#160;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify">Any penalties and interest assessed by income
taxing authorities are included in operating expenses.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify">&#160;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify">The federal and state income tax returns of the
Company are subject to examination by the IRS and state taxing authorities, generally for three years after they were filed. Tax years
2021, 2022 and 2023 remain open for potential audit.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify"><B>&#160;</B></P>

<P ID="xdx_842_eus-gaap--EarningsPerSharePolicyTextBlock_zrQbCqcbidza" STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify"><B><FONT STYLE="text-decoration: underline"><FONT ID="xdx_867_zOoYgkMr6dvi">Earnings (Loss) Per Share</FONT></FONT></B></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify"><B>&#160;</B></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify">Basic earnings per share (EPS) are computed by dividing
the net loss applicable to common stock by the weighted average number of common shares outstanding. Diluted net loss per common share
is computed by dividing the net loss applicable to common stock by the weighted average number of common shares outstanding for the period
and, if dilutive, potential common shares outstanding during the period. Potential common shares consist of the incremental common shares
issuable upon the exercise or conversion of stock options, stock warrants, convertible debt instruments, convertible preferred stock or
other common stock equivalents. Potentially dilutive securities are excluded from the computation if their effect is anti-dilutive.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify">&#160;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify">At December 31, 2024, there were (i) an aggregate
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issuable upon conversion of Series E Convertible Preferred Stock, and (v) <FONT ID="xdx_903_eus-gaap--AntidilutiveSecuritiesExcludedFromComputationOfEarningsPerShareAmount_c20240101__20241231__us-gaap--AntidilutiveSecuritiesExcludedFromComputationOfEarningsPerShareByAntidilutiveSecuritiesAxis__custom--SeriesFConvertiblePreferredStockMember_pdd" TITLE="Antidilutive shares">0</FONT> common shares issuable upon conversion of Series F Convertible
Preferred Stock, all of which were excluded from the computation of diluted net earnings per share because their inclusion would have
been anti-dilutive.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify">&#160;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify">At December 31, 2023, there were (i) an aggregate
of <FONT ID="xdx_90E_eus-gaap--AntidilutiveSecuritiesExcludedFromComputationOfEarningsPerShareAmount_c20230101__20231231__us-gaap--AntidilutiveSecuritiesExcludedFromComputationOfEarningsPerShareByAntidilutiveSecuritiesAxis__custom--WarrantsMember_pdd" TITLE="Antidilutive shares">44,644</FONT> outstanding warrants to purchase shares of common stock, (ii) employee stock options to purchase an aggregate of <FONT ID="xdx_90B_eus-gaap--AntidilutiveSecuritiesExcludedFromComputationOfEarningsPerShareAmount_c20230101__20231231__us-gaap--AntidilutiveSecuritiesExcludedFromComputationOfEarningsPerShareByAntidilutiveSecuritiesAxis__custom--EmployeeStockOptionsMember_pdd" TITLE="Antidilutive shares">1,387,775</FONT> shares
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Preferred Stock, all of which were excluded from the computation of diluted net earnings per share because their inclusion would have
been anti-dilutive.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify">&#160;</P>

<P ID="xdx_230_z4ai98m4BBh4" STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify">&#160;</P>


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<P ID="xdx_23B_zXdegKNuKloj" STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0">&#160;<B>&#160;</B></P>

<P ID="xdx_846_eus-gaap--LesseeLeasesPolicyTextBlock_z0O0ZE7fsADc" STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify"><B><FONT STYLE="text-decoration: underline"><FONT ID="xdx_866_zVbTKTi68Pq">Leases</FONT></FONT></B></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify">&#160;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify">The Company follows ASC 842 &#8220;Leases&#8221;.
This guidance requires lessees to recognize right-of-use (&#8220;ROU&#8221;) assets and lease liabilities for most operating leases. In
addition, this guidance requires that lessors separate lease and non-lease components in a contract in accordance with the revenue guidance
in ASC 606.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify">&#160;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify">The Company made an accounting policy election
to not recognize short-term leases with terms of twelve months or less on the balance sheet and instead recognize the lease payments in
expense as incurred. The Company has also elected to account for real estate leases that contain both lease and non-lease components as
a single lease component.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify">&#160;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify">At the inception of a contract the Company assesses
whether the contract is, or contains, a lease. The Company&#8217;s assessment is based on: (1) whether the contract involves the use of
a distinct identified asset, (2) whether we obtain the right to substantially all the economic benefit from the use of the asset throughout
the period, and (3) whether we have the right to direct the use of the asset.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify">&#160;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify">Operating ROU assets represent the right to use
the leased asset for the lease term and operating lease liabilities are recognized based on the present value of minimum lease payments
over the lease term at commencement date. As most leases do not provide an implicit rate, the Company uses an incremental borrowing rate
based on the information available at the lease commencement date to determine the present value of future payments. The lease term includes
all periods covered by renewal and termination options where the Company is reasonably certain to exercise the renewal options or not
to exercise the termination options. Operating lease expense is recognized on a straight-line basis over the lease term and is included
in general and administration expenses in the consolidated statements of operations.&#160;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify">&#160;</P>

<P ID="xdx_84D_eus-gaap--NewAccountingPronouncementsPolicyPolicyTextBlock_zJtRvsXnd5D8" STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify"><B><FONT STYLE="text-decoration: underline"><FONT ID="xdx_86A_zTuskIAjMplk">Recent Accounting Pronouncements</FONT></FONT></B></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify"></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify">&#160;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify">&#160;From time to time, the FASB or other standards
setting bodies will issue new accounting pronouncements. Updates to the FASB ASC are communicated through issuance of an Accounting Standards
Update (&#8220;ASU&#8221;).</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify"></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify">&#160;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify">In December 2023, the FASB issued ASU No. 2023-09
Income Taxes (Topic 740): Improvements to Income Tax Disclosures. ASU 2023-09 requires companies to disclose, on an annual basis, specific
categories in the effective tax rate reconciliation and provide additional information for reconciling items that meet a quantitative
threshold. Further, ASU 2023-09 requires companies to disclose additional information about income taxes paid. ASU 2023-09 is effective
for annual periods beginning January 1, 2025 and will be applied on a prospective basis with the option to apply the standard retrospectively.
The Company evaluated the disclosure impact of ASU 2023-09; and determined the standard will not have an impact on the Company&#8217;s
consolidated financial statements.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify">&#160;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify"></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify">In November 2024, the FASB issued ASU 2024-03, Income
Statement&#8212;Reporting Comprehensive Income&#8212;Expense Disaggregation Disclosures (Subtopic 220-40), which requires entities to
provide more detailed disaggregation of expenses in the income statement, focusing on the nature of the expenses rather than their function.
The new disclosures will require entities to separately present expenses for significant line items, including but not limited to, depreciation,
amortization, and employee compensation. Entities will also be required to provide a qualitative description of the amounts remaining
in relevant expense captions that are not separately disaggregated quantitatively, disclose the total amount of selling expenses and,
in annual reporting periods, provide a definition of what constitutes selling expenses. This pronouncement is effective for fiscal years
beginning after December 15, 2026, and interim periods within fiscal years beginning after December 15, 2027, with early adoption permitted.
The Company does not expect the adoption of this new guidance to have a material impact on the consolidated financial statements.<B>&#160;</B></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify">&#160;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify">Management does not believe that any other recently
issued, but not yet effective accounting pronouncements, if adopted, would have a material effect on the accompanying financial statements.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify">&#160;</P>

<P ID="xdx_237_zxJmcD2TWv0k" STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify">&#160;</P>


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<P ID="xdx_233_zD2gZxtPNue6" STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0">&#160;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0"><B></B></P>

<P ID="xdx_806_eus-gaap--SubstantialDoubtAboutGoingConcernTextBlock_z6hNZawCFsIa" STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify"><B>NOTE 2 &#8211; <FONT ID="xdx_820_zHh7vqdUE0x">LIQUIDITY</FONT></B></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify"><B>&#160;</B></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify">Under Accounting Codification ASC 205, Presentation
of Financial Statements&#8212;Going Concern (Subtopic 205-40) (&#8220;ASC 205-40&#8221;), the Company has the responsibility to evaluate
whether conditions and/or events raise substantial doubt about its ability to meet its future financial obligations as they become due
within one year after the date that the financial statements are issued. As required by ASC 205-40, this evaluation shall initially not
take into consideration the potential mitigating effects of plans that have not been fully implemented as of the date the financial statements
are issued. Management has assessed the Company&#8217;s ability to continue as a going concern in accordance with the requirement of ASC
205-40.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify">&#160;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify">As reflected in the accompanying consolidated financial
statements, the Company had a net loss of $<FONT ID="xdx_90B_eus-gaap--NetIncomeLoss_iN_pp0p0_di_c20240101__20241231_zGUMDBhLfdGl" TITLE="Net loss">10,764,457</FONT> for the year ended December 31, 2024. During the same period, cash used in operating
activities was $<FONT ID="xdx_901_eus-gaap--NetCashProvidedByUsedInOperatingActivities_iN_pp0p0_di_c20240101__20241231_zuDTd9awJB53" TITLE="Cash used in operating activities">3,488,687</FONT>. The working capital deficit and accumulated deficit as of December 31, 2024, were $<FONT ID="xdx_908_ecustom--WorkingCapitalDeficit_c20241231_pp0p0" TITLE="Working capital deficit">8,002,361</FONT> and $<FONT ID="xdx_908_eus-gaap--RetainedEarningsAccumulatedDeficit_iNI_pp0p0_di_c20241231_z8XBXFVP9Yif" TITLE="Accumulated deficit">74,368,009</FONT>,
respectively. In previous financial reports, the Company had raised substantial doubt about continuing as a going concern. This was principally
due to a lack of working capital prior to securities underwritten offerings and private placements which were completed during 2022, 2023,
2024 and 2025 as well.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify">&#160;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify">As previously noted, the Company was successful during
2023 in raising gross proceeds of over $<FONT ID="xdx_909_eus-gaap--ProceedsFromIssuanceOfPreferredStockAndPreferenceStock_c20230101__20231231_pp0p0" TITLE="Proceeds from preferred stock issued">11,500,000</FONT> from the sale of Series E and F Preferred Stock. Additionally, in the first and second
quarters of 2024, the Company raised gross proceeds of $<FONT ID="xdx_90A_eus-gaap--ProceedsFromIssuanceOfPreferredStockAndPreferenceStock_c20240101__20240630_pp0p0" TITLE="Proceeds from preferred stock issued">2,995,002</FONT> from the issuance of a combination of Series D and E Preferred Stock
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of 2025, the Company will again have access to its S-3 &#8220;shelf registration&#8221; statement allowing the Company to sell additional
securities. At the time of this document, the Company estimates that it will have available capacity on its shelf registration which it
can utilize to bolster working capital and growth of the business in the event that revenues from its recently executed AMA with New APR
do not provide sufficient cash flow to support operations. Although additional investment is not assured, the Company is comfortable that
it would be able to raise sufficient capital to support expanded operations based on an anticipated increase in business activity. In
the long run, the continuation of the Company as a going concern is dependent upon the ability of the Company to continue executing its
business plan, generate enough revenue, and attain consistently profitable operations. We have analyzed our cash flow under &#8220;stress
test&#8221; conditions and have determined that we have sufficient liquid assets on hand or available via the capital markets to maintain
operations for at least twelve months from the issuance date of this report.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify">&#160;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify">In addition, management has taken and continues to
take actions including, but not limited to, elimination of certain costs that do not contribute to short term revenue, and re-aligning
both management and staffing with a focus on improving certain skill sets necessary to build growth and profitability and focusing product
strategy on opportunities that are likely to bear results in the relatively short term. The Company believes that, with the combination
of commercial sales success, coupled with an S-3 shelf registration availability starting in the second quarter of 2025, it will have
sufficient working capital to meet its obligations over the following twelve months. In the last twelve months the Company has seen growth
in its contracted backlog as well as significant, positive signs from new commercial projects that indicate improvements in future revenues.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify">&#160;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify">Management believes that, at this time, the conditions
in our traditional market space with ongoing contract delays, the consequent need to procure certain materials in advance of a binding
contract and the additional time needed to execute on new contracts previously reported could put a strain on our cash reserves. However,
the anticipated steady cashflow from the AMA and the ability to raise capital via its shelf registration indicate there is no substantial
doubt for the Company to continue as a going concern for a period of twelve months. We expect to continue executing the plan to grow our
business and achieve profitability as previously discussed. The Company may selectively look at opportunities for fundraising in the future
including potential debt offerings to support asset acquisition. Management has extensively evaluated our requirements for the next twelve
months and has determined that the Company currently has sufficient cash and access to capital to operate for at least that period.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify">&#160;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify">While no assurance can be provided, management believes
that these actions provide the opportunity for the Company to continue as a going concern and to grow its business and achieve profitability
with access to additional capital funding. Ultimately the continuation of the Company as a going concern is dependent upon the ability
of the Company to continue executing the plan described above which was put in place in late 2024 and will continue in 2025 and beyond.
As a result, we expect to generate sufficient revenue and to attain profitable operations with minimal cash use in the next 12-18 months.
These consolidated financial statements do not include any adjustments related to the recoverability and classification of recorded asset
amounts and classification of liabilities that might be necessary should the Company be unable to continue as a going concern.</P>

<P ID="xdx_233_zgmX0TCW7382" STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify">&#160;</P>

<P ID="xdx_238_z4dLlQEYS8Ll" STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify">&#160;</P>


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<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0"></P>

<P ID="xdx_23A_zSmocGe3Btaa" STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0"><B>&#160;</B></P>

<P ID="xdx_80D_eus-gaap--LoansNotesTradeAndOtherReceivablesDisclosureTextBlock_z0zinSYgmETe" STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify"><B>NOTE 3 &#8211; <FONT ID="xdx_829_zIeBV931gxW6">ACCOUNTS RECEIVABLE</FONT> </B></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify">&#160;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify">Accounts receivable were as follows at December
31, 2024 and 2023:</P>

<TABLE CELLPADDING="0" CELLSPACING="0" ID="xdx_885_eus-gaap--ScheduleOfAccountsNotesLoansAndFinancingReceivableTextBlock_zQHeSrt5gRRk" SUMMARY="xdx: Disclosure - ACCOUNTS RECEIVABLE (Details- Accounts receivable)" STYLE="font: 12pt Arial, Helvetica, Sans-Serif; border-collapse: collapse; width: 100%">
  <TR STYLE="vertical-align: bottom">
    <TD ID="xdx_8B4_zmur7WsTGKW1" STYLE="display: none">Schedule of accounts receivable</TD><TD>&#160;</TD>
    <TD COLSPAN="2" ID="xdx_498_20241231_zyPIcHX1YzMg" STYLE="text-align: center">&#160;</TD><TD>&#160;</TD><TD>&#160;</TD>
    <TD COLSPAN="2" ID="xdx_498_20231231_zXFq0SMLPx04" STYLE="text-align: center">&#160;</TD><TD>&#160;</TD></TR>
  <TR STYLE="vertical-align: bottom">
    <TD STYLE="padding-bottom: 1pt; text-align: center">&#160;</TD><TD STYLE="font: bold 8pt Times New Roman, Times, Serif; padding-bottom: 1pt">&#160;</TD>
    <TD COLSPAN="2" STYLE="border-bottom: Black 1pt solid; font: bold 8pt Times New Roman, Times, Serif; text-align: center">December 31,<BR> 2024</TD><TD STYLE="font: bold 8pt Times New Roman, Times, Serif; padding-bottom: 1pt">&#160;</TD><TD STYLE="font: bold 8pt Times New Roman, Times, Serif; padding-bottom: 1pt">&#160;</TD>
    <TD COLSPAN="2" STYLE="border-bottom: Black 1pt solid; font: bold 8pt Times New Roman, Times, Serif; text-align: center">December 31,<BR> 2023</TD><TD STYLE="font: bold 8pt Times New Roman, Times, Serif; padding-bottom: 1pt">&#160;</TD></TR>
  <TR STYLE="vertical-align: bottom; background-color: rgb(204,238,255)">
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    <TD STYLE="font: 10pt Times New Roman, Times, Serif; width: 1%; text-align: left">$</TD><TD STYLE="font: 10pt Times New Roman, Times, Serif; width: 14%; text-align: right">479,478</TD><TD STYLE="font: 10pt Times New Roman, Times, Serif; width: 1%; text-align: left">&#160;</TD><TD STYLE="font: 10pt Times New Roman, Times, Serif; width: 1%">&#160;</TD>
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  <TR ID="xdx_40A_eus-gaap--AllowanceForDoubtfulAccountsReceivable_iNI_pp0p0_di_msARNzgc2_zmOalkpu2ANh" STYLE="vertical-align: bottom; background-color: White">
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    <TD STYLE="border-bottom: Black 1pt solid; font: 10pt Times New Roman, Times, Serif; text-align: left">&#160;</TD><TD STYLE="border-bottom: Black 1pt solid; font: 10pt Times New Roman, Times, Serif; text-align: right">&#8212;</TD><TD STYLE="font: 10pt Times New Roman, Times, Serif; padding-bottom: 1pt; text-align: left">&#160;</TD></TR>
  <TR ID="xdx_406_eus-gaap--AccountsReceivableNet_iTI_pp0p0_mtARNzgc2_zutkeXqi8agi" STYLE="vertical-align: bottom; background-color: rgb(204,238,255)">
    <TD STYLE="font: 10pt Times New Roman, Times, Serif; text-align: left; padding-bottom: 2.5pt">Accounts Receivable, net</TD><TD STYLE="font: 10pt Times New Roman, Times, Serif; padding-bottom: 2.5pt">&#160;</TD>
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    <TD STYLE="border-bottom: Black 2.5pt double; font: 10pt Times New Roman, Times, Serif; text-align: left">$</TD><TD STYLE="border-bottom: Black 2.5pt double; font: 10pt Times New Roman, Times, Serif; text-align: right">1,462,463</TD><TD STYLE="font: 10pt Times New Roman, Times, Serif; padding-bottom: 2.5pt; text-align: left">&#160;</TD></TR>
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<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify">&#160;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify">The Company recorded bad debt expense in the
amount of $<FONT ID="xdx_906_ecustom--BadDebtExpense_pp0p0_c20240101__20241231_zzHIyNzNrDK1" TITLE="Bad debt expense">76,037</FONT>
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<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify">&#160;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify">A summary of the activity related to our allowance
for credit losses during the year ended December 31, 2024 is summarized below.&#160;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify"></P>

<TABLE CELLPADDING="0" CELLSPACING="0" ID="xdx_88D_ecustom--ScheduleOfAllowanceForDoubtfulAccountsTableTextBlock_zHgMpLoiMEx1" SUMMARY="xdx: Disclosure - ACCOUNTS RECEIVABLE (Details- Allowance for doubtful accounts)" STYLE="font: 10pt Times New Roman, Times, Serif; border-collapse: collapse; width: 100%">
  <TR STYLE="vertical-align: bottom">
    <TD STYLE="font-size: 12pt"><FONT STYLE="display: none; font-size: 8pt">&#160;<FONT ID="xdx_8BC_zdokdiempK61">Schedule of allowance for doubtful accounts</FONT></FONT></TD><TD STYLE="font-weight: bold"><FONT STYLE="font-size: 8pt">&#160;</FONT></TD>
    <TD COLSPAN="2" STYLE="font-weight: bold; text-align: center"><FONT STYLE="font-size: 8pt">&#160;</FONT></TD><TD STYLE="font-weight: bold"><FONT STYLE="font-size: 8pt">&#160;</FONT></TD></TR>
  <TR STYLE="vertical-align: bottom">
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    <TD COLSPAN="2" STYLE="border-bottom: Black 1pt solid; font-weight: bold; text-align: center"><FONT STYLE="font-size: 8pt">Amounts</FONT></TD><TD STYLE="padding-bottom: 1pt; font-weight: bold"><FONT STYLE="font-size: 8pt">&#160;</FONT></TD></TR>
  <TR STYLE="vertical-align: bottom; background-color: rgb(204,238,255)">
    <TD STYLE="text-align: left">Allowance for doubtful accounts, beginning balance</TD><TD>&#160;</TD>
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  <TR STYLE="vertical-align: bottom; background-color: White">
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<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify">&#160;&#160;</P>

<P ID="xdx_801_eus-gaap--IntangibleAssetsDisclosureTextBlock_zEUB6yMaJYii" STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify"><B>NOTE 4 &#8211; <FONT ID="xdx_822_zeb0VRz3iNd9">INTANGIBLE ASSET</FONT></B></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify"><B>&#160;</B></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0 0 8pt; text-align: justify">In May 2024, the Company recorded an intangible
asset with a fair value of $<FONT ID="xdx_900_eus-gaap--FiniteLivedIntangibleAssetsGross_c20240531__us-gaap--FiniteLivedIntangibleAssetsByMajorClassAxis__us-gaap--CustomerContractsMember_pp0p0" TITLE="Intangible asset fair value">11,161,428</FONT>. This asset represents non-monetary consideration received under a <FONT ID="xdx_90F_ecustom--TermOfContract_dtY_c20240530__20240531__us-gaap--FiniteLivedIntangibleAssetsByMajorClassAxis__us-gaap--CustomerContractsMember_zanxRt4SUq4i" TITLE="Term of contract">5</FONT>-year customer contract, in
which the Company will provide maintenance services to the customer. The intangible asset represents Digital Image data rights in the
form of a license agreement received by the Company from the customer.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0 0 8pt; text-align: justify">The fair value of the asset was determined on
the contract inception date based on the standalone selling price of the service and goods to be provided to the customer under the 5-year
contract since the Company could not reasonably estimate the fair value of the data rights received. The non-monetary transaction was
accounted for in accordance with Accounting Standards Codification (ASC) 606-10-32-21 through ASC 606-10-32-24.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0 0 8pt; text-align: justify">On the contract inception date, the Company
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program for this contract and recorded deferred revenue of $<FONT ID="xdx_901_eus-gaap--DeferredRevenueCurrent_c20240531__us-gaap--FiniteLivedIntangibleAssetsByMajorClassAxis__us-gaap--CustomerContractsMember_pp0p0" TITLE="Deferred revenue">11,161,428</FONT> as contract liabilities with a current and non-current component,
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is being recognized over the <FONT ID="xdx_904_ecustom--TermOfDeferredRevenue_dtY_c20240530__20240531__us-gaap--FiniteLivedIntangibleAssetsByMajorClassAxis__us-gaap--CustomerContractsMember_zKs2w1C8mi48" TITLE="Term of deferred revenue">5</FONT>-year term.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0 0 8pt; text-align: justify">In accordance with ASC 350-30-35-1, the amortization
for the intangible asset is based on its useful life and the useful life of an intangible asset is the period over which it is expected
to contribute directly or indirectly to the future cash flows of that entity. Accordingly, amortization of the intangible asset is recognized
over the life of the contract of five years.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0 0 8pt; text-align: justify">In accordance with ASC 350-30-35-14, an intangible
asset that is subject to amortization shall be reviewed for impairment if the carrying amount of the asset is not recoverable and exceeds
its fair value. There is no indication of impairment at December 31, 2024.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0 0 0pt; text-align: justify">Intangible asset at December 31, 2024 and December
31, 2023 consists of:</P>

<TABLE CELLSPACING="0" CELLPADDING="0" SUMMARY="xdx: Disclosure - INTANGIBLE ASSET (Details - Intangible Asset)" ID="xdx_89C_eus-gaap--ScheduleOfFiniteLivedIntangibleAssetsTableTextBlock_zA5VhrPR4n28" STYLE="font: 11pt Arial, Helvetica, Sans-Serif; width: 100%; border-collapse: collapse">
  <TR STYLE="vertical-align: bottom">
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    <TD><FONT STYLE="font-size: 8pt">&#160;</FONT></TD>
    <TD COLSPAN="2" ID="xdx_492_20241231_zgiuapt2Rr5i" STYLE="text-align: center"><FONT STYLE="font-size: 8pt">&#160;</FONT></TD>
    <TD><FONT STYLE="font-size: 8pt">&#160;</FONT></TD>
    <TD><FONT STYLE="font-size: 8pt">&#160;</FONT></TD>
    <TD COLSPAN="2" ID="xdx_492_20231231_ztPDu1T5I545" STYLE="text-align: center"><FONT STYLE="font-size: 8pt">&#160;</FONT></TD>
    <TD><FONT STYLE="font-size: 8pt">&#160;</FONT></TD></TR>
  <TR STYLE="vertical-align: bottom">
    <TD><FONT STYLE="font-size: 8pt">&#160;</FONT></TD>
    <TD><FONT STYLE="font-size: 8pt">&#160;</FONT></TD>
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    <TD><FONT STYLE="font-size: 8pt">&#160;</FONT></TD>
    <TD><FONT STYLE="font-size: 8pt">&#160;</FONT></TD>
    <TD COLSPAN="2" STYLE="text-align: center"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 8pt"><B>December 31,</B></FONT></TD>
    <TD><FONT STYLE="font-size: 8pt">&#160;</FONT></TD></TR>
  <TR STYLE="vertical-align: bottom">
    <TD><FONT STYLE="font-size: 8pt">&#160;</FONT></TD>
    <TD><FONT STYLE="font-size: 8pt">&#160;</FONT></TD>
    <TD COLSPAN="2" STYLE="border-bottom: black 1pt solid; text-align: center"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 8pt"><B>2024</B></FONT></TD>
    <TD><FONT STYLE="font-size: 8pt">&#160;</FONT></TD>
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    <TD><FONT STYLE="font-size: 8pt">&#160;</FONT></TD></TR>
  <TR ID="xdx_403_eus-gaap--FiniteLivedIntangibleAssetsGross_iI_pp0p0_maFLIANzSEn_zskhpzobLbQe" STYLE="vertical-align: bottom; background-color: #CCEEFF">
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    <TD STYLE="width: 1%">&#160;</TD>
    <TD STYLE="width: 1%"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">$</FONT></TD>
    <TD STYLE="width: 13%; text-align: right"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">11,161,428</FONT></TD>
    <TD STYLE="width: 1%">&#160;</TD>
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    <TD STYLE="width: 13%; text-align: right"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">&#8212;</FONT></TD>
    <TD STYLE="width: 1%">&#160;</TD></TR>
  <TR ID="xdx_403_eus-gaap--FiniteLivedIntangibleAssetsAccumulatedAmortization_iNI_pp0p0_di_msFLIANzSEn_ztda0ZTQkhO5" STYLE="vertical-align: bottom; background-color: white">
    <TD><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">Accumulated Amortization</FONT></TD>
    <TD>&#160;</TD>
    <TD STYLE="border-bottom: black 1pt solid">&#160;</TD>
    <TD STYLE="border-bottom: black 1pt solid; text-align: right"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">(1,569,310</FONT></TD>
    <TD><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">)</FONT></TD>
    <TD>&#160;</TD>
    <TD STYLE="border-bottom: black 1pt solid">&#160;</TD>
    <TD STYLE="border-bottom: black 1pt solid; text-align: right"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">&#8212;</FONT></TD>
    <TD>&#160;</TD></TR>
  <TR ID="xdx_40B_eus-gaap--FiniteLivedIntangibleAssetsNet_iTI_pp0p0_mtFLIANzSEn_zKv7aECOPZ0k" STYLE="vertical-align: bottom; background-color: #CCEEFF">
    <TD><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">Intangible Asset, net</FONT></TD>
    <TD>&#160;</TD>
    <TD STYLE="border-bottom: black 2.25pt double"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">$</FONT></TD>
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    <TD>&#160;</TD>
    <TD>&#160;</TD>
    <TD STYLE="border-bottom: black 2.25pt double"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">$</FONT></TD>
    <TD STYLE="border-bottom: black 2.25pt double; text-align: right"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">&#8212;</FONT></TD>
    <TD>&#160;</TD></TR>
  </TABLE>
<P ID="xdx_8AC_zM24BBFvrEv4" STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0 0 12pt; text-align: justify"></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0 0 12pt; text-align: justify">Amortization of the intangible asset
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<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify">The future amortization of the intangible asset is
as follows:</P>

<TABLE CELLPADDING="0" CELLSPACING="0" ID="xdx_89E_eus-gaap--ScheduleofFiniteLivedIntangibleAssetsFutureAmortizationExpenseTableTextBlock_zd4X1CTo8Vsc" SUMMARY="xdx: Disclosure - INTANGIBLE ASSET (Details - Future amortization)" STYLE="font: 11pt Arial, Helvetica, Sans-Serif; border-collapse: collapse; width: 100%">
  <TR STYLE="vertical-align: bottom">
    <TD COLSPAN="2" ID="xdx_8B5_zyD7yI0sFBRi" STYLE="display: none; text-align: left; font-size: 8pt; vertical-align: bottom">Schedule of future amortization of intangible assets</TD><TD STYLE="font-size: 8pt">&#160;</TD><TD STYLE="font-size: 8pt">&#160;</TD>
    <TD COLSPAN="2" STYLE="font-size: 8pt; text-align: center">&#160;</TD><TD STYLE="font-size: 8pt">&#160;</TD></TR>
  <TR STYLE="vertical-align: bottom">
    <TD COLSPAN="2" STYLE="font: bold 8pt Times New Roman, Times, Serif; padding-bottom: 1pt; text-align: left; vertical-align: bottom">Calendar Year</TD><TD STYLE="font: bold 8pt Times New Roman, Times, Serif; padding-bottom: 1pt">&#160;</TD><TD STYLE="font: bold 8pt Times New Roman, Times, Serif; color: #104861; padding-bottom: 1pt">&#160;</TD>
    <TD COLSPAN="2" STYLE="border-bottom: Black 1pt solid; font: bold 8pt Times New Roman, Times, Serif; color: #104861; text-align: center">Amount</TD><TD STYLE="font: bold 8pt Times New Roman, Times, Serif; padding-bottom: 1pt; color: #104861">&#160;</TD></TR>
  <TR STYLE="vertical-align: bottom; background-color: rgb(204,238,255)">
    <TD STYLE="font: 10pt Times New Roman, Times, Serif; vertical-align: bottom; width: 1%; text-align: left">&#160;</TD><TD STYLE="font: 10pt Times New Roman, Times, Serif; vertical-align: bottom; width: 80%; text-align: left">2025</TD><TD STYLE="font: 10pt Times New Roman, Times, Serif; width: 1%; text-align: left">&#160;</TD><TD STYLE="font: 10pt Times New Roman, Times, Serif; width: 1%">&#160;</TD>
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  <TR STYLE="vertical-align: bottom; background-color: White">
    <TD STYLE="font: 10pt Times New Roman, Times, Serif; vertical-align: bottom; text-align: left">&#160;</TD><TD STYLE="font: 10pt Times New Roman, Times, Serif; vertical-align: bottom; text-align: left">2026</TD><TD STYLE="font: 10pt Times New Roman, Times, Serif; text-align: left">&#160;</TD><TD STYLE="font: 10pt Times New Roman, Times, Serif">&#160;</TD>
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  <TR STYLE="vertical-align: bottom; background-color: rgb(204,238,255)">
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  <TR STYLE="vertical-align: bottom; background-color: White">
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  <TR STYLE="vertical-align: bottom; background-color: rgb(204,238,255)">
    <TD STYLE="font: 10pt Times New Roman, Times, Serif; padding-bottom: 1pt; vertical-align: bottom; text-align: left">&#160;</TD><TD STYLE="font: 10pt Times New Roman, Times, Serif; padding-bottom: 1pt; vertical-align: bottom; text-align: left">2029</TD><TD STYLE="font: 10pt Times New Roman, Times, Serif; padding-bottom: 1pt; text-align: left">&#160;</TD><TD STYLE="font: 10pt Times New Roman, Times, Serif; padding-bottom: 1pt">&#160;</TD>
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  <TR STYLE="vertical-align: bottom; background-color: White">
    <TD STYLE="font: 10pt Times New Roman, Times, Serif; padding-bottom: 2.5pt; vertical-align: bottom; text-align: left">&#160;</TD><TD STYLE="font: 10pt Times New Roman, Times, Serif; padding-bottom: 2.5pt; vertical-align: bottom; text-align: left"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">Total Intangible Asset Amortization</FONT></TD><TD STYLE="font: 10pt Times New Roman, Times, Serif; padding-bottom: 2.5pt; text-align: left">&#160;</TD><TD STYLE="font: 10pt Times New Roman, Times, Serif; padding-bottom: 2.5pt">&#160;</TD>
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  </TABLE>

<P ID="xdx_8A1_z8pqpSQF9ap5" STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify">&#160;</P>

<P ID="xdx_238_zjN8YK8Kj0kf" STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify">&#160;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify"></P>

<!-- Field: Page; Sequence: 99 -->
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    <!-- Field: /Page -->

<P ID="xdx_23D_zgyHexz4Glyc" STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify">&#160;</P>

<P ID="xdx_80C_ecustom--CashAdvancePaymentSawgrassHoldingsLlcTextBlock_zriX4wq1RnYe" STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify"><B>NOTE 5: <FONT ID="xdx_82F_zUzaALiG35La">CASH ADVANCE PAYMENT &#8211; SAWGRASS HOLDINGS
LLC</FONT></B></P>

<TABLE CELLPADDING="0" CELLSPACING="0" ID="xdx_88A_ecustom--ScheduleOfCashAdvancePaymentSawgrassHoldingsLlcTableTextBlock_zeKGm4EIzrT" SUMMARY="xdx: Disclosure - CASH ADVANCE PAYMENT - SAWGRASS HOLDINGS LLC (Details)" STYLE="font: 12pt Arial, Helvetica, Sans-Serif; border-collapse: collapse; width: 100%">
  <TR STYLE="vertical-align: bottom">
    <TD ID="xdx_8BE_zzUGDSru1kh1"><FONT STYLE="display: none; font-size: 8pt">&#160;Schedule of cash advance payment</FONT></TD><TD><FONT STYLE="font-size: 8pt">&#160;</FONT></TD>
    <TD COLSPAN="2" ID="xdx_494_20241231__srt--CounterpartyNameAxis__custom--SawgrassHoldingsLLCMember_z9ceCNCfPq0h" STYLE="text-align: center"><FONT STYLE="font-size: 8pt">&#160;</FONT></TD><TD><FONT STYLE="font-size: 8pt">&#160;</FONT></TD></TR>
  <TR STYLE="vertical-align: bottom">
    <TD STYLE="text-align: center"><FONT STYLE="font-size: 8pt">&#160;</FONT></TD><TD STYLE="font: bold 10pt Times New Roman, Times, Serif; padding-bottom: 1pt"><FONT STYLE="font-size: 8pt">&#160;</FONT></TD>
    <TD COLSPAN="2" STYLE="border-bottom: Black 1pt solid; font: bold 10pt Times New Roman, Times, Serif; text-align: center"><FONT STYLE="font-size: 8pt">Amount</FONT></TD><TD STYLE="font: bold 10pt Times New Roman, Times, Serif; padding-bottom: 1pt"><FONT STYLE="font-size: 8pt">&#160;</FONT></TD></TR>
  <TR ID="xdx_40B_eus-gaap--Cash_iI_pp0p0" STYLE="vertical-align: bottom; background-color: rgb(204,238,255)">
    <TD STYLE="font: 10pt Times New Roman, Times, Serif; width: 83%">Cash</TD><TD STYLE="font: 10pt Times New Roman, Times, Serif; width: 1%">&#160;</TD>
    <TD STYLE="font: 10pt Times New Roman, Times, Serif; width: 1%; text-align: left">$</TD><TD STYLE="font: 10pt Times New Roman, Times, Serif; width: 14%; text-align: right">5,000,000</TD><TD STYLE="font: 10pt Times New Roman, Times, Serif; width: 1%; text-align: left">&#160;</TD></TR>
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  <TR ID="xdx_40D_ecustom--NetStatementOfOperationsImpact_iI_pp0p0" STYLE="vertical-align: bottom; background-color: rgb(204,238,255)">
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<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify"><B>&#160;</B></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify">In December 2024, the Company entered into a series
of contracts with Fortress under which the Company will deploy and operate a fleet of mobile gas turbines and balance-of-plant inventory,
providing management, sales and operations functions to New APR in connection with the assets. In exchange for services performed under
the Asset Management Agreement (&#8220;AMA&#8221;), the Company received an advance cash payments and common units in Sawgrass Parent
(see Note 9). The Company will account for the arrangement with New APR as <I>Revenue from contracts with customers</I>. New APR advanced
the Company $5.0 million in cash upon execution of the contract, which will be applied ratably on a monthly basis against amounts incurred
under the AMA for a period of 12 months in 2025. In the event that the AMA is terminated within the first 12 months, any balance remaining
of the advanced funds would be credited in full to Duos.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify">&#160;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify">The advanced consideration does not provide the benefit
of financing as the cash will be consumed within the first year of the contract to align the interests of both parties under the AMA.
As of December 31, 2024, deferred revenue under the arrangement was $<FONT ID="xdx_909_eus-gaap--DeferredRevenue_iI_pn3n3_dm_c20241231__us-gaap--TypeOfArrangementAxis__custom--AssetManagementAgreementMember__srt--CounterpartyNameAxis__custom--SawgrassAPRHoldingsLLCMember_zOO658IC6oEb" TITLE="Deferred revenue">5.0</FONT> million, comprised of the $<FONT ID="xdx_903_eus-gaap--PaymentsForAdvanceToAffiliate_pn3n3_dm_c20240101__20241231__us-gaap--TypeOfArrangementAxis__custom--AssetManagementAgreementMember__srt--CounterpartyNameAxis__custom--SawgrassHoldingsLLCMember_zHxSYpOG5d7e" TITLE="Advance payment">5.0</FONT> million advance payment. The Company
did <FONT ID="xdx_906_eus-gaap--Revenues_pp0p0_do_c20240101__20241231__us-gaap--TypeOfArrangementAxis__custom--AssetManagementAgreementMember__srt--CounterpartyNameAxis__custom--SawgrassHoldingsLLCMember_zQk8emvIPDyl" TITLE="Revenues">no</FONT>t recognize any revenue under the AMA during the year ended December 31, 2024.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify"></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify">&#160;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify"></P>

<P ID="xdx_802_eus-gaap--PropertyPlantAndEquipmentDisclosureTextBlock_zCpjkf3bZFxj" STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify"><B>NOTE 6 &#8211; <FONT ID="xdx_823_zMU2i7lxxZF1">PROPERTY AND EQUIPMENT</FONT></B></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify">&#160;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify">The major classes of property and equipment are as
follows at December 31, 2024 and 2023:</P>

<TABLE CELLPADDING="0" CELLSPACING="0" ID="xdx_897_eus-gaap--PropertyPlantAndEquipmentTextBlock_zhiX97HKrMO9" SUMMARY="xdx: Disclosure - PROPERTY AND EQUIPMENT (Details - Major classes of property and equipment)" STYLE="font: 10pt Times New Roman, Times, Serif; border-collapse: collapse; width: 100%">
  <TR STYLE="vertical-align: bottom">
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    <TD COLSPAN="2" STYLE="font-size: 12pt; text-align: center">&#160;</TD><TD STYLE="font-size: 12pt">&#160;</TD></TR>
  <TR STYLE="vertical-align: bottom">
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  <TR STYLE="vertical-align: bottom; background-color: rgb(204,238,255)">
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  <TR STYLE="vertical-align: bottom; background-color: White">
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  <TR STYLE="vertical-align: bottom; background-color: rgb(204,238,255)">
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  <TR STYLE="vertical-align: bottom; background-color: White">
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  <TR STYLE="vertical-align: bottom; background-color: rgb(204,238,255)">
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    <TD STYLE="border-bottom: Black 1pt solid; text-align: left">&#160;</TD><TD ID="xdx_986_eus-gaap--PropertyPlantAndEquipmentGross_c20241231__us-gaap--PropertyPlantAndEquipmentByTypeAxis__us-gaap--SoftwareDevelopmentMember_pp0p0" TITLE="Property, Plant and Equipment, Gross" STYLE="border-bottom: Black 1pt solid; text-align: right">381,441</TD><TD STYLE="padding-bottom: 1pt; text-align: left">&#160;</TD><TD STYLE="padding-bottom: 1pt">&#160;</TD>
    <TD STYLE="border-bottom: Black 1pt solid; text-align: left">&#160;</TD><TD ID="xdx_985_eus-gaap--PropertyPlantAndEquipmentGross_c20231231__us-gaap--PropertyPlantAndEquipmentByTypeAxis__us-gaap--SoftwareDevelopmentMember_pp0p0" TITLE="Property, Plant and Equipment, Gross" STYLE="border-bottom: Black 1pt solid; text-align: right">381,441</TD><TD STYLE="padding-bottom: 1pt; text-align: left">&#160;</TD></TR>
  <TR STYLE="vertical-align: bottom; background-color: White">
    <TD STYLE="color: #CCEEFF; font-weight: bold; text-align: left">&#160;</TD><TD>&#160;</TD>
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  <TR STYLE="vertical-align: bottom; background-color: rgb(204,238,255)">
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    <TD STYLE="border-bottom: Black 1pt solid; text-align: left">&#160;</TD><TD ID="xdx_98A_eus-gaap--AccumulatedDepreciationDepletionAndAmortizationPropertyPlantAndEquipment_iNI_pp0p0_di_c20241231_ztoOOwtkt2Rh" TITLE="Accumulated Depreciation" STYLE="border-bottom: Black 1pt solid; text-align: right">(1,708,211</TD><TD STYLE="padding-bottom: 1pt; text-align: left">)</TD><TD STYLE="padding-bottom: 1pt">&#160;</TD>
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  <TR STYLE="vertical-align: bottom; background-color: White">
    <TD STYLE="text-align: left; padding-bottom: 2.5pt; text-indent: 10pt">Property, Equipment and Software, net</TD><TD STYLE="padding-bottom: 2.5pt">&#160;</TD>
    <TD STYLE="border-bottom: Black 2.5pt double; text-align: left">$</TD><TD ID="xdx_981_eus-gaap--PropertyPlantAndEquipmentNet_c20241231_pp0p0" TITLE="Property, Equipment and Software, net" STYLE="border-bottom: Black 2.5pt double; text-align: right">2,771,779</TD><TD STYLE="padding-bottom: 2.5pt; text-align: left">&#160;</TD><TD STYLE="padding-bottom: 2.5pt">&#160;</TD>
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<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify">&#160;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify"></P>

<TABLE CELLPADDING="0" CELLSPACING="0" STYLE="font: 10pt Times New Roman, Times, Serif; border-collapse: collapse; width: 100%">
  <TR STYLE="vertical-align: bottom">
    <TD STYLE="font-size: 8pt">&#160;</TD><TD STYLE="font-size: 8pt">&#160;</TD>
    <TD COLSPAN="2" STYLE="font-size: 8pt; text-align: center">&#160;</TD><TD STYLE="font-size: 8pt">&#160;</TD><TD STYLE="font-size: 8pt">&#160;</TD>
    <TD COLSPAN="2" STYLE="font-size: 8pt; text-align: center">&#160;</TD><TD STYLE="font-size: 8pt">&#160;</TD></TR>
  <TR STYLE="vertical-align: bottom">
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  <TR STYLE="vertical-align: bottom; background-color: rgb(204,238,255)">
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  <TR STYLE="vertical-align: bottom; background-color: White">
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<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0">&#160;</P>

<TABLE CELLPADDING="0" CELLSPACING="0" STYLE="font: 10pt Times New Roman, Times, Serif; border-collapse: collapse; width: 100%">
  <TR STYLE="vertical-align: bottom">
    <TD STYLE="font-size: 8pt">&#160;</TD><TD STYLE="font-size: 8pt">&#160;</TD>
    <TD COLSPAN="2" STYLE="font-size: 8pt; text-align: right">&#160;</TD><TD STYLE="font-size: 8pt">&#160;</TD><TD STYLE="font-size: 8pt">&#160;</TD>
    <TD COLSPAN="2" STYLE="font-size: 8pt; text-align: right">&#160;</TD><TD STYLE="font-size: 8pt">&#160;</TD></TR>
  <TR STYLE="vertical-align: bottom">
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  <TR STYLE="vertical-align: bottom; background-color: White">
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    <TD STYLE="width: 1%; text-align: left">$</TD><TD ID="xdx_98A_eus-gaap--DepreciationDepletionAndAmortization_c20240101__20241231__us-gaap--PropertyPlantAndEquipmentByTypeAxis__us-gaap--PropertyPlantAndEquipmentOtherTypesMember_pp0p0" TITLE="Depreciation Expense" STYLE="width: 14%; text-align: right">239,302</TD><TD STYLE="width: 1%; text-align: left">&#160;</TD><TD STYLE="width: 1%">&#160;</TD>
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  <TR STYLE="vertical-align: bottom; background-color: rgb(204,238,255)">
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<P ID="xdx_8A7_zTH3nyEtZ1P1" STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0">&#160;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0">&#160;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0">The following is a schedule of estimated future amortization expense of
internal use software at December 31, 2024:</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0"></P>

<TABLE CELLPADDING="0" CELLSPACING="0" ID="xdx_89E_eus-gaap--ScheduleofFiniteLivedIntangibleAssetsFutureAmortizationExpenseTableTextBlock_hus-gaap--PropertyPlantAndEquipmentByTypeAxis__us-gaap--PropertyPlantAndEquipmentOtherTypesMember_zAHZMUbbZtP6" SUMMARY="xdx: Disclosure - PROPERTY AND EQUIPMENT (Details - Estimated future depreciation expense of software)" STYLE="font: 11pt Arial, Helvetica, Sans-Serif; border-collapse: collapse; width: 100%">
  <TR STYLE="vertical-align: bottom">
    <TD COLSPAN="2" ID="xdx_8B6_zuISgaBLPHK3" STYLE="display: none; text-align: left"><FONT STYLE="font-family: Times New Roman, Times, Serif">Schedule
    of estimated future depreciation expense of software</FONT></TD><TD>&#160;</TD><TD>&#160;</TD>
    <TD COLSPAN="2">&#160;</TD><TD>&#160;</TD></TR>
  <TR STYLE="vertical-align: bottom; background-color: rgb(204,238,255)">
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  <TR STYLE="vertical-align: bottom; background-color: White">
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  <TR STYLE="vertical-align: bottom; background-color: rgb(204,238,255)">
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  <TR STYLE="vertical-align: bottom; background-color: White">
    <TD STYLE="padding-bottom: 2.5pt; text-align: left">&#160;</TD><TD STYLE="padding-bottom: 2.5pt; text-align: left">&#160;</TD><TD STYLE="padding-bottom: 2.5pt; text-align: left">&#160;</TD><TD STYLE="font: 10pt Times New Roman, Times, Serif; padding-bottom: 2.5pt">&#160;</TD>
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  </TABLE>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify"></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify"></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify"><B></B></P>

<P ID="xdx_8AB_zE5ftSufFPTj" STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify"><B>&#160;</B></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify"></P>

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<P ID="xdx_230_zYJJs688EhUd" STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify">&#160;</P>

<P ID="xdx_807_ecustom--PatentsAndTrademarksTextBlock_zQrQK18iYR5g" STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify"><B>NOTE 7 &#8211; <FONT ID="xdx_82B_zG6Q474qj6rl">PATENTS AND TRADEMARKS</FONT></B></P>



<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify"><B></B></P>

<TABLE CELLPADDING="0" CELLSPACING="0" ID="xdx_882_eus-gaap--ScheduleOfIndefiniteLivedIntangibleAssetsTableTextBlock_zyFVtX3h47zh" SUMMARY="xdx: Disclosure - PATENTS AND TRADEMARKS (Details - Patents and trademarks)" STYLE="font: 10pt Times New Roman, Times, Serif; border-collapse: collapse; width: 100%">
  <TR STYLE="vertical-align: bottom">
    <TD ID="xdx_8B8_z7k0xyJInNZj" STYLE="display: none; font-size: 12pt">Schedule of patents and trademarks</TD><TD STYLE="font-size: 12pt">&#160;</TD>
    <TD COLSPAN="2" ID="xdx_491_20241231__us-gaap--FiniteLivedIntangibleAssetsByMajorClassAxis__us-gaap--PatentsMember_zaSxoyHNFPe5" STYLE="font-size: 12pt">&#160;</TD><TD STYLE="font-size: 12pt">&#160;</TD><TD STYLE="font-size: 12pt">&#160;</TD>
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  <TR STYLE="vertical-align: bottom">
    <TD STYLE="font-size: 12pt; text-align: center">&#160;</TD><TD STYLE="font-size: 8pt; font-weight: bold; padding-bottom: 1pt">&#160;</TD>
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  <TR ID="xdx_40D_eus-gaap--FiniteLivedIntangibleAssetsGross_iI_pp0p0_maFLIANzbTm_zEYxJziHYE3f" STYLE="vertical-align: bottom; background-color: rgb(204,238,255)">
    <TD STYLE="width: 66%">Patents</TD><TD STYLE="width: 1%">&#160;</TD>
    <TD STYLE="width: 1%; text-align: left">$</TD><TD STYLE="width: 14%; text-align: right">405,007</TD><TD STYLE="width: 1%; text-align: left">&#160;</TD><TD STYLE="width: 1%">&#160;</TD>
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  <TR ID="xdx_404_eus-gaap--FiniteLivedIntangibleAssetsAccumulatedAmortization_iNI_pp0p0_di_msFLIANzbTm_zypHAVi0uv8b" STYLE="vertical-align: bottom; background-color: White">
    <TD STYLE="text-align: left; padding-bottom: 1pt">Accumulated Amortization</TD><TD STYLE="padding-bottom: 1pt">&#160;</TD>
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    <TD STYLE="text-align: left; padding-bottom: 2.5pt; text-indent: 10pt">Patents and trademarks, net</TD><TD STYLE="padding-bottom: 2.5pt">&#160;</TD>
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<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify"><B>&#160;</B>&#160;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify">Amortization expense in 2024 and 2023 was
$<FONT ID="xdx_904_eus-gaap--AmortizationOfIntangibleAssets_pp0p0_c20240101__20241231__us-gaap--FiniteLivedIntangibleAssetsByMajorClassAxis__us-gaap--PatentsMember_zsSwZPqqGio9" TITLE="Amortization expense">11,375</FONT> and $<FONT ID="xdx_901_eus-gaap--AmortizationOfIntangibleAssets_pp0p0_c20230101__20231231__us-gaap--FiniteLivedIntangibleAssetsByMajorClassAxis__us-gaap--PatentsMember_zriPaHDTPYW3" TITLE="Amortization expense">9,920</FONT>, respectively.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify"><B></B></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify"></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify">&#160;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0"></P>

<P ID="xdx_804_eus-gaap--ResearchDevelopmentAndComputerSoftwareDisclosureTextBlock_z80B3MTy7U0f" STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify"><B>NOTE 8 &#8211; <FONT ID="xdx_82C_zGSNG2vj3CBj">SOFTWARE DEVELOPMENT COSTS</FONT></B></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify"><B></B></P>

<TABLE CELLPADDING="0" CELLSPACING="0" ID="xdx_89C_ecustom--ScheduleOfSoftwareAndSoftwareDevelopmentCostsTableTextBlock_zHoqx7IflaUc" SUMMARY="xdx: Disclosure - SOFTWARE AND SOFTWARE DEVELOPMENT COSTS (Details - Software development costs)" STYLE="font: 10pt Times New Roman, Times, Serif; border-collapse: collapse; width: 100%">
  <TR STYLE="vertical-align: bottom">
    <TD ID="xdx_8B0_zzPaFNsxqup8" STYLE="display: none; font-size: 12pt">Schedule of software development costs</TD><TD STYLE="font-size: 12pt">&#160;</TD>
    <TD COLSPAN="2" ID="xdx_498_20241231_zc47VLGGnWml" STYLE="font-size: 12pt">&#160;</TD><TD STYLE="font-size: 12pt">&#160;</TD><TD STYLE="font-size: 12pt">&#160;</TD>
    <TD COLSPAN="2" ID="xdx_492_20231231_zcDHWL7f6IOe" STYLE="font-size: 12pt">&#160;</TD><TD STYLE="font-size: 12pt">&#160;</TD></TR>
  <TR STYLE="vertical-align: bottom">
    <TD STYLE="font-size: 12pt; text-align: center">&#160;</TD><TD STYLE="font-size: 8pt; font-weight: bold; padding-bottom: 1pt">&#160;</TD>
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  <TR ID="xdx_40D_eus-gaap--CapitalizedComputerSoftwareGross_iI_pp0p0" STYLE="vertical-align: bottom; background-color: rgb(204,238,255)">
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  <TR ID="xdx_40E_ecustom--ConstructionInProgress_iI_pp0p0" STYLE="vertical-align: bottom; background-color: White">
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  <TR ID="xdx_40C_ecustom--SoftwareDevelopmentCostsNet_iI_pp0p0" STYLE="vertical-align: bottom; background-color: White">
    <TD STYLE="text-align: left; padding-bottom: 2.5pt">Software Development, net</TD><TD STYLE="padding-bottom: 2.5pt">&#160;</TD>
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<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify"><B></B></P>

<P ID="xdx_8AD_ztivnKPNgfQ7" STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify"><B>&#160;</B></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify"><B></B></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify">The following is a schedule of estimated future amortization
expense of software development costs at December 31, 2024:</P>
<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify"><B></B></P>

<TABLE CELLSPACING="0" CELLPADDING="0" ID="xdx_89D_eus-gaap--ScheduleofFiniteLivedIntangibleAssetsFutureAmortizationExpenseTableTextBlock_hus-gaap--PropertyPlantAndEquipmentByTypeAxis__us-gaap--SoftwareAndSoftwareDevelopmentCostsMember_ztG77deayYC7" SUMMARY="xdx: Disclosure - SOFTWARE AND SOFTWARE DEVELOPMENT COSTS (Details - Estimated future amortization)" STYLE="font: 12pt Arial, Helvetica, Sans-Serif; width: 100%; border-collapse: collapse">
  <TR STYLE="vertical-align: bottom">
    <TD>&#160;</TD>
    <TD ID="xdx_8B6_zzvw0NpEXYe3" STYLE="display: none"><FONT STYLE="font-family: Times New Roman, Times, Serif">Schedule of estimated
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    <TD>&#160;</TD>
    <TD>&#160;</TD>
    <TD>&#160;</TD>
    <TD STYLE="text-align: right">&#160;</TD>
    <TD>&#160;</TD></TR>
  <TR STYLE="vertical-align: bottom; background-color: #CCEEFF">
    <TD STYLE="width: 1%">&#160;</TD>
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    <TD STYLE="width: 1%">&#160;</TD>
    <TD STYLE="width: 1%">&#160;</TD>
    <TD STYLE="width: 1%"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">$</FONT></TD>
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  <TR STYLE="vertical-align: bottom; background-color: white">
    <TD>&#160;</TD>
    <TD><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">2026</FONT></TD>
    <TD>&#160;</TD>
    <TD>&#160;</TD>
    <TD>&#160;</TD>
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    <TD>&#160;</TD></TR>
  <TR STYLE="vertical-align: bottom; background-color: #CCEEFF">
    <TD>&#160;</TD>
    <TD><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">2027</FONT></TD>
    <TD>&#160;</TD>
    <TD>&#160;</TD>
    <TD STYLE="border-bottom: black 1pt solid">&#160;</TD>
    <TD ID="xdx_980_eus-gaap--FiniteLivedIntangibleAssetsAmortizationExpenseYearThree_c20241231__us-gaap--PropertyPlantAndEquipmentByTypeAxis__us-gaap--SoftwareAndSoftwareDevelopmentCostsMember_pp0p0" TITLE="2027" STYLE="border-bottom: black 1pt solid; text-align: right"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">47,813</FONT></TD>
    <TD>&#160;</TD></TR>
  <TR STYLE="vertical-align: bottom; background-color: white">
    <TD>&#160;</TD>
    <TD>&#160;</TD>
    <TD>&#160;</TD>
    <TD>&#160;</TD>
    <TD STYLE="border-bottom: black 2.25pt double"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">$</FONT></TD>
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    <TD>&#160;</TD></TR>
  </TABLE>
<P ID="xdx_8A5_zJ2kl7q3L48f" STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify">&#160;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify"></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify">Amortization of software development costs for the
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<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify">&#160;</P>

<P ID="xdx_803_eus-gaap--EquityMethodInvestmentsDisclosureTextBlock_zPlNg7vbrtL" STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0 0 0pt"><B>NOTE
9 &#8211; <FONT ID="xdx_825_zOKFmGG1yOLh">EQUITY INVESTMENT &#8211; SAWGRASS APR HOLDINGS LLC</FONT></B></P>

<TABLE CELLPADDING="0" CELLSPACING="0" ID="xdx_882_eus-gaap--EquityMethodInvestmentsTextBlock_z1JpBZHJVZBe" SUMMARY="xdx: Disclosure - EQUITY INVESTMENT - SAWGRASS APR HOLDINGS LLC (Details)" STYLE="font: 10pt Times New Roman, Times, Serif; border-collapse: collapse; width: 100%">
  <TR STYLE="vertical-align: bottom">
    <TD ID="xdx_8BC_zYEPM6UDLMj5" STYLE="display: none; font-size: 8pt">Schedule of equity investment</TD><TD STYLE="font-size: 8pt">&#160;</TD>
    <TD COLSPAN="2" ID="xdx_496_20241231_us-gaap--TypeOfArrangementAxis_custom--AssetManagementAgreementMember_srt--CounterpartyNameAxis_custom--SawgrassAPRHoldingsLLCMember" STYLE="font-size: 8pt">&#160;</TD><TD STYLE="font-size: 8pt">&#160;</TD></TR>
  <TR STYLE="vertical-align: bottom">
    <TD STYLE="padding-bottom: 1pt; font-size: 8pt; text-align: center">&#160;</TD><TD STYLE="padding-bottom: 1pt; font-size: 8pt; font-weight: bold">&#160;</TD>
    <TD COLSPAN="2" STYLE="border-bottom: Black 1pt solid; padding-bottom: 1pt; font-size: 8pt; font-weight: bold; text-align: center">December 31,<BR> 2024</TD><TD STYLE="padding-bottom: 1pt; font-size: 8pt; font-weight: bold">&#160;</TD></TR>
  <TR ID="xdx_401_eus-gaap--EquityMethodInvestments_iI_pp0p0" STYLE="vertical-align: bottom; background-color: rgb(204,238,255)">
    <TD STYLE="width: 83%; text-align: left">Equity Investment - Sawgrass APR Holdings LLC</TD><TD STYLE="width: 1%">&#160;</TD>
    <TD STYLE="width: 1%; text-align: left">$</TD><TD STYLE="width: 14%; text-align: right">7,233,000</TD><TD STYLE="width: 1%; text-align: left">&#160;</TD></TR>
  <TR STYLE="vertical-align: bottom">
    <TD STYLE="font-size: 12pt; text-align: center">&#160;</TD><TD STYLE="font-size: 12pt">&#160;</TD>
    <TD STYLE="font-size: 12pt; text-align: left">&#160;</TD><TD STYLE="font-size: 12pt; text-align: right">&#160;</TD><TD STYLE="font-size: 12pt; text-align: left">&#160;</TD></TR>
  </TABLE>


<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0 0 8pt; text-align: justify">At the close of business December 31, 2024,
Duos Energy Corporation, a subsidiary, executed an AMA with New APR to manage its operations. The Company&#8217;s CEO is also the CEO
of New APR and the operations of New APR are housed in the same facility as the Company in Jacksonville Florida.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0 0 8pt; text-align: justify">The Company was issued a 5% non-voting ownership
interest in Sawgrass Parent, in the form of 25,882,353 common units, which is accounted for using the equity method. The Company determined
the equity method was appropriate since Sawgrass Parent is considered a related party due to common management and the Company can exert
significant influence over the operations of New APR.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify">The Company concluded that the arrangement with New
APR is within the scope of ASC 606, Revenue from contracts with customers, and the common units issued to the Company by Sawgrass Parent
represented non-cash consideration under ASC 606-10-32-31. The initial carrying value as of December 31, 2024 of $<FONT ID="xdx_906_ecustom--CarryingValueOfCommonUnitsReceived_iI_pn3n3_dm_c20241231__us-gaap--TypeOfArrangementAxis__custom--AssetManagementAgreementMember_ztEzr2vANub2" TITLE="Carrying value of common units received">7.2</FONT> million was measured
equal to the fair value of the common units received for future services to be performed under the AMA. The Company recorded $<FONT ID="xdx_90A_eus-gaap--DeferredRevenue_iI_pn3n3_dm_c20241231__us-gaap--TypeOfArrangementAxis__custom--AssetManagementAgreementMember_z0frm92EXQL7" TITLE="Deferred revenue">7.2</FONT> million
of an equity method investment asset and $<FONT ID="xdx_902_eus-gaap--EquityMethodInvestments_iI_pn3n3_dm_c20241231__srt--CounterpartyNameAxis__custom--SawgrassParentMember_zhLbEaA5LPyd" TITLE="Equity method investment">7.2</FONT> million of deferred revenue for services to be performed under the AMA. During the year
ended December 31, 2024, the Company did not recognize any revenue associated with the AMA and did not recognize any equity in net loss
of the investee.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify">&#160;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify">The Company assesses its equity method investment
for impairment whenever events or changes in circumstances indicate that the carrying amount of the investment may not be recoverable.
No impairment losses were recognized during the year ended December 31, 2024.</P>

<P ID="xdx_23E_zhyS2IhhxWk4" STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify">&#160;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0 5.75pt 0 0; text-align: justify"></P>

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    <!-- Field: /Page -->

<P ID="xdx_23B_zMjkoaTj3jWh" STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0 5.75pt 0 0; text-align: justify">&#160;</P>

<P ID="xdx_805_eus-gaap--DebtDisclosureTextBlock_zW2el5guKSfk" STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0 5.75pt 0 0; text-align: justify"><B>NOTE 10 &#8211; <FONT ID="xdx_826_zjnFzoe1byXg">DEBT</FONT></B></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0 5.75pt 0 0; text-align: justify"><B>&#160;</B></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify"><B><FONT STYLE="text-decoration: underline">Notes Payable &#8211; Insurance Premium
Financing Agreements</FONT></B></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify">&#160;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify">The Company&#8217;s notes payable relating to financing
agreements classified as current liabilities consist of the following as of:</P>

<TABLE CELLPADDING="0" CELLSPACING="0" ID="xdx_89E_eus-gaap--ScheduleOfDebtTableTextBlock_zwl5SJ3Z04m9" SUMMARY="xdx: Disclosure - DEBT (Details - Notes payable - financing agreements)" STYLE="font: 11pt Arial, Helvetica, Sans-Serif; border-collapse: collapse; width: 100%">
  <TR STYLE="vertical-align: bottom">
    <TD ID="xdx_8B0_zOtvNC7DCDx1"><FONT STYLE="display: none; font-size: 8pt">&#160;Schedule of notes payable</FONT></TD><TD><FONT STYLE="font-size: 8pt">&#160;</FONT></TD>
    <TD COLSPAN="2" STYLE="text-align: right"><FONT STYLE="font-size: 8pt">&#160;</FONT></TD><TD><FONT STYLE="font-size: 8pt">&#160;</FONT></TD><TD><FONT STYLE="font-size: 8pt">&#160;</FONT></TD>
    <TD COLSPAN="2" STYLE="text-align: right"><FONT STYLE="font-size: 8pt">&#160;</FONT></TD><TD><FONT STYLE="font-size: 8pt">&#160;</FONT></TD><TD><FONT STYLE="font-size: 8pt">&#160;</FONT></TD>
    <TD COLSPAN="2" STYLE="text-align: right"><FONT STYLE="font-size: 8pt">&#160;</FONT></TD><TD><FONT STYLE="font-size: 8pt">&#160;</FONT></TD><TD><FONT STYLE="font-size: 8pt">&#160;</FONT></TD>
    <TD COLSPAN="2" STYLE="text-align: right"><FONT STYLE="font-size: 8pt">&#160;</FONT></TD><TD><FONT STYLE="font-size: 8pt">&#160;</FONT></TD></TR>
  <TR STYLE="vertical-align: bottom">
    <TD STYLE="text-align: justify"><FONT STYLE="font-size: 8pt">&#160;</FONT></TD><TD STYLE="font: bold 10pt Times New Roman, Times, Serif; padding-bottom: 1pt"><FONT STYLE="font-size: 8pt">&#160;</FONT></TD>
    <TD COLSPAN="6" STYLE="border-bottom: Black 1pt solid; font: bold 10pt Times New Roman, Times, Serif; text-align: center"><FONT STYLE="font-size: 8pt">December
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    <TD COLSPAN="6" STYLE="border-bottom: Black 1pt solid; font: bold 10pt Times New Roman, Times, Serif; text-align: center"><FONT STYLE="font-size: 8pt">December
    31, 2023</FONT></TD><TD STYLE="font: bold 10pt Times New Roman, Times, Serif; padding-bottom: 1pt"><FONT STYLE="font-size: 8pt">&#160;</FONT></TD></TR>
  <TR STYLE="vertical-align: bottom">
    <TD STYLE="border-bottom: Black 1pt solid; font: bold 10pt Times New Roman, Times, Serif; text-align: justify"><FONT STYLE="font-size: 8pt">Notes
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    <TD COLSPAN="2" STYLE="border-bottom: Black 1pt solid; font: bold 10pt Times New Roman, Times, Serif; text-align: center"><FONT STYLE="font-size: 8pt">Principal</FONT></TD><TD STYLE="font: bold 10pt Times New Roman, Times, Serif; padding-bottom: 1pt"><FONT STYLE="font-size: 8pt">&#160;</FONT></TD><TD STYLE="font: bold 10pt Times New Roman, Times, Serif; padding-bottom: 1pt"><FONT STYLE="font-size: 8pt">&#160;</FONT></TD>
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    <TD COLSPAN="2" STYLE="border-bottom: Black 1pt solid; font: bold 10pt Times New Roman, Times, Serif; text-align: center"><FONT STYLE="font-size: 8pt">Principal</FONT></TD><TD STYLE="font: bold 10pt Times New Roman, Times, Serif; padding-bottom: 1pt"><FONT STYLE="font-size: 8pt">&#160;</FONT></TD><TD STYLE="font: bold 10pt Times New Roman, Times, Serif; padding-bottom: 1pt"><FONT STYLE="font-size: 8pt">&#160;</FONT></TD>
    <TD COLSPAN="2" STYLE="border-bottom: Black 1pt solid; font: bold 10pt Times New Roman, Times, Serif; text-align: center"><FONT STYLE="font-size: 8pt">Interest</FONT></TD><TD STYLE="font: bold 10pt Times New Roman, Times, Serif; padding-bottom: 1pt"><FONT STYLE="font-size: 8pt">&#160;</FONT></TD></TR>
  <TR STYLE="vertical-align: bottom; background-color: rgb(204,238,255)">
    <TD STYLE="font: 10pt Times New Roman, Times, Serif; width: 48%; text-align: justify">Third Party - Insurance Note 1</TD><TD STYLE="font: 10pt Times New Roman, Times, Serif; width: 1%">&#160;</TD>
    <TD STYLE="font: 10pt Times New Roman, Times, Serif; width: 1%; text-align: left">$</TD><TD ID="xdx_987_eus-gaap--OtherNotesPayableCurrent_c20241231__us-gaap--ShortTermDebtTypeAxis__custom--ThirdPartyInsuranceNoteOneMember_pp0p0" TITLE="Notes payable, Principal" STYLE="font: 10pt Times New Roman, Times, Serif; width: 10%; text-align: right">13,002</TD><TD STYLE="font: 10pt Times New Roman, Times, Serif; width: 1%; text-align: left">&#160;</TD><TD STYLE="font: 10pt Times New Roman, Times, Serif; width: 1%">&#160;</TD>
    <TD STYLE="font: 10pt Times New Roman, Times, Serif; width: 1%; text-align: left">&#160;</TD><TD ID="xdx_98F_eus-gaap--LongTermDebtPercentageBearingFixedInterestRate_iI_dp_c20241231__us-gaap--ShortTermDebtTypeAxis__custom--ThirdPartyInsuranceNoteOneMember_zbbK8add89b3" TITLE="Notes payable, Interest" STYLE="font: 10pt Times New Roman, Times, Serif; width: 10%; text-align: right">8.00</TD><TD STYLE="font: 10pt Times New Roman, Times, Serif; width: 1%; text-align: left">%</TD><TD STYLE="font: 10pt Times New Roman, Times, Serif; width: 1%">&#160;</TD>
    <TD STYLE="font: 10pt Times New Roman, Times, Serif; width: 1%; text-align: left">$</TD><TD ID="xdx_980_eus-gaap--OtherNotesPayableCurrent_c20231231__us-gaap--ShortTermDebtTypeAxis__custom--ThirdPartyInsuranceNoteOneMember_pp0p0" TITLE="Notes payable, Principal" STYLE="font: 10pt Times New Roman, Times, Serif; width: 10%; text-align: right">39,968</TD><TD STYLE="font: 10pt Times New Roman, Times, Serif; width: 1%; text-align: left">&#160;</TD><TD STYLE="font: 10pt Times New Roman, Times, Serif; width: 1%">&#160;</TD>
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  <TR STYLE="vertical-align: bottom; background-color: White">
    <TD STYLE="font: 10pt Times New Roman, Times, Serif; text-align: justify">Third Party - Insurance Note 2</TD><TD STYLE="font: 10pt Times New Roman, Times, Serif">&#160;</TD>
    <TD STYLE="font: 10pt Times New Roman, Times, Serif; text-align: left">&#160;</TD><TD ID="xdx_98C_eus-gaap--OtherNotesPayableCurrent_c20241231__us-gaap--ShortTermDebtTypeAxis__custom--ThirdPartyInsuranceNoteTwoMember_pp0p0" TITLE="Notes payable, Principal" STYLE="font: 10pt Times New Roman, Times, Serif; text-align: right">4,070</TD><TD STYLE="font: 10pt Times New Roman, Times, Serif; text-align: left">&#160;</TD><TD STYLE="font: 10pt Times New Roman, Times, Serif">&#160;</TD>
    <TD STYLE="font: 10pt Times New Roman, Times, Serif; text-align: left">&#160;</TD><TD STYLE="font: 10pt Times New Roman, Times, Serif; text-align: right">&#8212;</TD><TD STYLE="font: 10pt Times New Roman, Times, Serif; text-align: left">&#160;</TD><TD STYLE="font: 10pt Times New Roman, Times, Serif">&#160;</TD>
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    <TD STYLE="font: 10pt Times New Roman, Times, Serif; text-align: left">&#160;</TD><TD STYLE="font: 10pt Times New Roman, Times, Serif; text-align: right">&#8212;</TD><TD STYLE="font: 10pt Times New Roman, Times, Serif; text-align: left">&#160;</TD></TR>
  <TR STYLE="vertical-align: bottom; background-color: rgb(204,238,255)">
    <TD STYLE="font: 10pt Times New Roman, Times, Serif; text-align: justify; padding-bottom: 1pt">Third Party - Insurance Note 3</TD><TD STYLE="font: 10pt Times New Roman, Times, Serif; padding-bottom: 1pt">&#160;</TD>
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    <TD STYLE="font: 10pt Times New Roman, Times, Serif; padding-bottom: 1pt; text-align: left">&#160;</TD><TD STYLE="font: 10pt Times New Roman, Times, Serif; padding-bottom: 1pt; text-align: right">&#8212;</TD><TD STYLE="font: 10pt Times New Roman, Times, Serif; padding-bottom: 1pt; text-align: left">&#160;</TD><TD STYLE="font: 10pt Times New Roman, Times, Serif; padding-bottom: 1pt">&#160;</TD>
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    <TD STYLE="font: 10pt Times New Roman, Times, Serif; padding-bottom: 1pt; text-align: left">&#160;</TD><TD STYLE="font: 10pt Times New Roman, Times, Serif; padding-bottom: 1pt; text-align: right">&#8212;</TD><TD STYLE="font: 10pt Times New Roman, Times, Serif; padding-bottom: 1pt; text-align: left">&#160;</TD></TR>
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    <TD STYLE="font: 10pt Times New Roman, Times, Serif; text-align: justify; padding-bottom: 2.5pt">Total</TD><TD STYLE="font: 10pt Times New Roman, Times, Serif; padding-bottom: 2.5pt">&#160;</TD>
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    <TD STYLE="padding-bottom: 2.5pt; text-align: left">&#160;</TD><TD STYLE="padding-bottom: 2.5pt; text-align: right">&#160;</TD><TD STYLE="padding-bottom: 2.5pt; text-align: left">&#160;</TD></TR>
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<P ID="xdx_8A1_zOBXZtcU3lS3" STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify">&#160;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify">The Company entered into an agreement on April 15,
2023 with its insurance provider by issuing a note payable (Insurance Note 1) for the purchase of an insurance policy in the amount of
$<FONT ID="xdx_90F_ecustom--PurchaseOfInsurancePolicy_c20230414__20230415__us-gaap--ShortTermDebtTypeAxis__custom--ThirdPartyInsuranceNoteOneMember_pp0p0" TITLE="Purchase of insurance policy">142,734</FONT>, secured by that policy with an annual interest rate of <FONT ID="xdx_909_eus-gaap--DerivativeFixedInterestRate_c20230415__us-gaap--ShortTermDebtTypeAxis__custom--ThirdPartyInsuranceNoteOneMember_pdd" TITLE="Annual interest rate">8.00%</FONT> and payable in 11 monthly installments of principal and interest
totaling $<FONT ID="xdx_904_eus-gaap--DebtInstrumentPeriodicPayment_c20230414__20230415__us-gaap--ShortTermDebtTypeAxis__custom--ThirdPartyInsuranceNoteOneMember_pp0p0" TITLE="Monthly installments">13,501</FONT>. The Company renewed its agreement on April 15, 2024 with its insurance provider by issuing a note payable (Insurance
Note 1) for the purchase of an insurance policy in the amount of $<FONT ID="xdx_90D_ecustom--PurchaseOfInsurancePolicy_c20240414__20240415__us-gaap--ShortTermDebtTypeAxis__custom--ThirdPartyInsuranceNoteOneMember_pp0p0" TITLE="Purchase of insurance policy">154,338</FONT>, secured by that policy with an annual interest rate of <FONT ID="xdx_906_eus-gaap--DerivativeFixedInterestRate_c20240415__us-gaap--ShortTermDebtTypeAxis__custom--ThirdPartyInsuranceNoteOneMember_pdd" TITLE="Annual interest rate">8.25%</FONT>
and payable in 10 monthly installments of principal and interest totaling $<FONT ID="xdx_906_eus-gaap--DebtInstrumentPeriodicPayment_c20240414__20240415__us-gaap--ShortTermDebtTypeAxis__custom--ThirdPartyInsuranceNoteOneMember_pp0p0" TITLE="Monthly installments">16,023</FONT>. At December 31, 2024 and December 31, 2023, the balance
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<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify">&#160;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify">The Company renewed its agreement on February 3, 2023
with its insurance provider by issuing a note payable (Insurance Note 2) for the purchase of an insurance policy in the amount of $<FONT ID="xdx_906_ecustom--PurchaseOfInsurancePolicy_pp0p0_c20230126__20230203__us-gaap--ShortTermDebtTypeAxis__custom--ThirdPartyInsuranceNoteTwoMember__us-gaap--TransactionTypeAxis__custom--RenewedAgreementMember_zRvwbKEXFjob" TITLE="Purchase of insurance policy">24,140</FONT>,
and payable in 12 monthly installments of $<FONT ID="xdx_900_eus-gaap--DebtInstrumentPeriodicPayment_pp0p0_c20230126__20230203__us-gaap--ShortTermDebtTypeAxis__custom--ThirdPartyInsuranceNoteTwoMember__us-gaap--TransactionTypeAxis__custom--RenewedAgreementMember_zmICm6naGjD9" TITLE="Monthly installments">2,012</FONT>. The Company renewed its agreement on February 3, 2024 with its insurance provider by
issuing a note payable (Insurance Note 2) for the purchase of an insurance policy in the amount of $<FONT ID="xdx_90E_ecustom--PurchaseOfInsurancePolicy_c20240202__20240203__us-gaap--ShortTermDebtTypeAxis__custom--ThirdPartyInsuranceNoteTwoMember_pp0p0" TITLE="Purchase of insurance policy">24,480</FONT>, and payable in 12 monthly
installments of $<FONT ID="xdx_90B_eus-gaap--DebtInstrumentPeriodicPayment_c20240202__20240203__us-gaap--ShortTermDebtTypeAxis__custom--ThirdPartyInsuranceNoteTwoMember_pp0p0" TITLE="Monthly installments">2,040</FONT>. At December 31, 2024 and December 31, 2023, the balance of Insurance Note 2 was $<FONT ID="xdx_902_eus-gaap--NotesPayable_c20241231__us-gaap--ShortTermDebtTypeAxis__custom--ThirdPartyInsuranceNoteTwoMember_pp0p0" TITLE="Notes payable">4,070</FONT> and $<FONT ID="xdx_903_eus-gaap--NotesPayable_c20231231__us-gaap--ShortTermDebtTypeAxis__custom--ThirdPartyInsuranceNoteTwoMember_pp0p0" TITLE="Notes payable">2,008</FONT>, respectively.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify">&#160;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify">The Company entered on February 2, 2023 with its insurance
provider by issuing a note payable (Insurance Note 3) for the purchase of an insurance policy in the amount of $<FONT ID="xdx_904_ecustom--PurchaseOfInsurancePolicy_pp0p0_c20230126__20230202__us-gaap--ShortTermDebtTypeAxis__custom--ThirdPartyInsuranceNoteThreeMember_zDczxBPRy049" TITLE="Purchase of insurance policy">293,520</FONT> with a down payment
paid in the amount of $<FONT ID="xdx_909_ecustom--DownPaymentPaid_pp0p0_c20230126__20230202__us-gaap--ShortTermDebtTypeAxis__custom--ThirdPartyInsuranceNoteThreeMember_z74cZaV9uwLg" TITLE="Down payment paid">125,690</FONT>. The Company received a refund in October 2024 in the amount of $30,433 as a result of the annual audit
of the policy resulting in the refund being applied to the outstanding balance. The Company renewed its agreement on February 3, 2024
with its insurance provider by issuing a note payable (Insurance Note 3) for the purchase of an insurance policy in the amount of $<FONT ID="xdx_906_ecustom--PurchaseOfInsurancePolicy_pp0p0_c20240201__20240203__us-gaap--ShortTermDebtTypeAxis__custom--ThirdPartyInsuranceNoteThreeMember_zjyKP3IpPrbf" TITLE="Purchase of insurance policy">245,798</FONT>
with a down payment paid in the amount of $<FONT ID="xdx_902_ecustom--DownPaymentPaid_pp0p0_c20240201__20240203__us-gaap--ShortTermDebtTypeAxis__custom--ThirdPartyInsuranceNoteThreeMember_zbFkEr5BdBTf" TITLE="Down payment paid">84,473</FONT> in the first quarter of 2024 and ten monthly installments of $<FONT ID="xdx_901_eus-gaap--DebtInstrumentPeriodicPayment_pp0p0_c20240201__20240203__us-gaap--ShortTermDebtTypeAxis__custom--ThirdPartyInsuranceNoteThreeMember_zA4xeI4p2Mok" TITLE="Monthly installments">20,166</FONT>. At December 31,
2024 and December 31, 2023, the balance of Insurance Note 3 was $<FONT ID="xdx_90C_eus-gaap--NotesPayable_c20241231__us-gaap--ShortTermDebtTypeAxis__custom--ThirdPartyInsuranceNoteThreeMember_pp0p0" TITLE="Notes payable">0</FONT> and $<FONT ID="xdx_90D_eus-gaap--NotesPayable_c20231231__us-gaap--ShortTermDebtTypeAxis__custom--ThirdPartyInsuranceNoteThreeMember_pp0p0" TITLE="Notes payable">0</FONT>, respectively<B>.</B></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify"><B>&#160;</B></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify"></P><P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify"><B><FONT STYLE="text-decoration: underline">
                                                                                        Notes Payable, Related Parties</FONT></B></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify">&#160;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify">On July 22, 2024, the Company and Duos Edge
entered into secured promissory notes (the &#8220;Notes&#8221;) with two institutional investors in the Company, 21 April Fund LP and 21
April Fund Ltd. These investors own more than 10% of the outstanding shares and are therefore considered related parties. The
principal amounts of the Notes are $<FONT ID="xdx_90F_eus-gaap--DebtInstrumentFaceAmount_c20240722__us-gaap--LongtermDebtTypeAxis__custom--SecuredPromissoryNotesMember__srt--CounterpartyNameAxis__custom--N21AprilFundLPMember_pp0p0" TITLE="Principal amounts">1,520,000</FONT>
for the Note issued to 21 April Fund Ltd. and $<FONT ID="xdx_90E_eus-gaap--DebtInstrumentFaceAmount_c20240722__us-gaap--LongtermDebtTypeAxis__custom--SecuredPromissoryNotesMember__srt--CounterpartyNameAxis__custom--N21AprilFundLtdMember_pp0p0" TITLE="Principal amounts">680,000</FONT>
for the Note issued to 21 April Fund LP. The Notes bear interest at an annual rate of <FONT ID="xdx_900_eus-gaap--DebtInstrumentInterestRateStatedPercentage_c20240722__us-gaap--LongtermDebtTypeAxis__custom--SecuredPromissoryNotesMember__srt--CounterpartyNameAxis__custom--N21AprilFundLPMember_pdd" TITLE="Interest rate"><FONT ID="xdx_907_eus-gaap--DebtInstrumentInterestRateStatedPercentage_c20240722__us-gaap--LongtermDebtTypeAxis__custom--SecuredPromissoryNotesMember__srt--CounterpartyNameAxis__custom--N21AprilFundLtdMember_pdd" TITLE="Interest rate">10%</FONT></FONT>
and the principal and any accrued interest on the Notes are due on <FONT ID="xdx_90A_eus-gaap--DebtInstrumentMaturityDate_dd_c20240701__20240722__us-gaap--LongtermDebtTypeAxis__custom--SecuredPromissoryNotesMember__srt--CounterpartyNameAxis__custom--N21AprilFundLPMember_zIpXFkEE3pC5" TITLE="Maturity date"><FONT ID="xdx_901_eus-gaap--DebtInstrumentMaturityDate_dd_c20240701__20240722__us-gaap--LongtermDebtTypeAxis__custom--SecuredPromissoryNotesMember__srt--CounterpartyNameAxis__custom--N21AprilFundLtdMember_zrjA7nmGRQii" TITLE="Maturity date">December
30, 2025</FONT></FONT>. The Company has guaranteed all of Duos Edge&#8217;s obligations pursuant to the Notes.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify">&#160;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify">As security for the Notes, Duos Edge AI granted
a first priority security interest in the equipment installed, as well as all revenues from such equipment and the Company pledged
all proceeds from the sale of shares of Common Stock under its ATM facility. All of the pledged revenues from the equipment and the
ATM facility are deposited in a blocked account and used solely to repay the Notes until they are repaid in full. In November 2024,
the Company obtained the lenders&#8217; consent waiving the requirement to deposit ATM proceeds in a separate blocked account and to
utilize the ATM proceeds for general corporate purposes, provided that any such amounts must be deposited in the blocked account on
or prior to December 1, 2025. The Notes may be prepaid without any prepayment penalties, provided that any prepayments shall be made
proportionately to each Note.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify"><B>&#160;</B></P>

<P ID="xdx_231_zdRVyDH9j2M8" STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify">&#160;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify"></P>

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    <!-- Field: /Page -->

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify"></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify"></P>

<P ID="xdx_23C_zNuTJtuaPjid" STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify">&#160;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify">This transaction is accounted for in accordance with
ASC 470, which provides guidance on the accounting for debt and debt modifications. The Company is in compliance with all covenants and
conditions associated with the Notes as of December 31, 2024.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify">&#160;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify">As of December 31, 2024, the carrying amount of the Notes is classified
as a current liability on the Company's consolidated balance sheet. The company accrued interest of $<FONT ID="xdx_90A_eus-gaap--InterestPayableCurrent_c20241231__us-gaap--LongtermDebtTypeAxis__custom--SecuredPromissoryNotesMember_pp0p0" TITLE="Accrued interest">98,247</FONT> for the six months ended
December 31, 2024 with regard to the Notes.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify">&#160;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify">In connection with the Notes, the Company issued
warrants to purchase <FONT ID="xdx_903_eus-gaap--ClassOfWarrantOrRightNumberOfSecuritiesCalledByEachWarrantOrRight_c20240722__us-gaap--LongtermDebtTypeAxis__custom--SecuredPromissoryNotesMember__srt--CounterpartyNameAxis__custom--N21AprilFundLPMember_pdd" TITLE="Warrants purchase">92,727</FONT>
shares of Common Stock to 21 April Fund LP and <FONT ID="xdx_903_eus-gaap--ClassOfWarrantOrRightNumberOfSecuritiesCalledByEachWarrantOrRight_c20240722__us-gaap--LongtermDebtTypeAxis__custom--SecuredPromissoryNotesMember__srt--CounterpartyNameAxis__custom--N21AprilFundLtdMember_pdd" TITLE="Warrants purchase">207,273</FONT>
shares of Common Stock to 21 April Fund Ltd. The warrants had an exercise price of $<FONT ID="xdx_90D_eus-gaap--ClassOfWarrantOrRightExercisePriceOfWarrantsOrRights1_c20240722__us-gaap--LongtermDebtTypeAxis__custom--SecuredPromissoryNotesMember__srt--CounterpartyNameAxis__custom--N21AprilFundLPMember_pdd" TITLE="Warrants exercisable per share"><FONT ID="xdx_902_eus-gaap--ClassOfWarrantOrRightExercisePriceOfWarrantsOrRights1_c20240722__us-gaap--LongtermDebtTypeAxis__custom--SecuredPromissoryNotesMember__srt--CounterpartyNameAxis__custom--N21AprilFundLtdMember_pdd" TITLE="Warrants exercisable per share">3.00</FONT></FONT>
and were exercisable at any time on or prior to the close of business on the five-year <FONT ID="xdx_90D_eus-gaap--WarrantsAndRightsOutstandingTerm_iI_dtY_c20240722__us-gaap--LongtermDebtTypeAxis__custom--SecuredPromissoryNotesMember__srt--CounterpartyNameAxis__custom--N21AprilFundLPMember_zE1BlMPPFq41" TITLE="Warrant term"><FONT ID="xdx_902_eus-gaap--WarrantsAndRightsOutstandingTerm_iI_dtY_c20240722__us-gaap--LongtermDebtTypeAxis__custom--SecuredPromissoryNotesMember__srt--CounterpartyNameAxis__custom--N21AprilFundLtdMember_z2rRiCDyqibe" TITLE="Warrant term" STYLE="display: none">5</FONT></FONT> anniversary of the original issuance date
of July 22, 2024. The warrants contained a fundamental transaction provision whereby the Company might have to make a cash payment
to the warrant holder on a fundamental transaction trigger date. Accordingly, the warrants met the criteria to be accounted for as a
derivative liability instrument.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify">&#160;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify">The above warrants and the previously held <FONT ID="xdx_90C_ecustom--WarrantExercised_c20240901__20240919__us-gaap--LongtermDebtTypeAxis__custom--SecuredPromissoryNotesMember_pdd" TITLE="Warrant exercised">44,644</FONT>
warrants were exercised by 21 April Fund LP and 21 April Fund Ltd. on September 19, 2024 and the Company issued an aggregate of <FONT ID="xdx_90A_eus-gaap--ClassOfWarrantOrRightNumberOfSecuritiesCalledByEachWarrantOrRight_c20240919__us-gaap--LongtermDebtTypeAxis__custom--SecuredPromissoryNotesMember_pdd" TITLE="Warrants purchase">344,644</FONT>
shares of Common Stock. In connection with such exercise, the parties agreed to reduce the exercise price of the warrants to $<FONT ID="xdx_909_eus-gaap--ClassOfWarrantOrRightExercisePriceOfWarrantsOrRights1_c20240919__us-gaap--LongtermDebtTypeAxis__custom--SecuredPromissoryNotesMember_pdd" TITLE="Warrants exercisable per share">2.61</FONT> per
share and to remove any &#8220;blocker&#8221; or similar provisions in the warrants.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify">&#160;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify">The warrant liability value was measured using a Monte
Carlo simulation valuation method. The initial warrant liability valuation on the loan date was $<FONT ID="xdx_901_ecustom--FairValueOfWarrant_c20240722__us-gaap--LongtermDebtTypeAxis__custom--SecuredPromissoryNotesMember_pp0p0" TITLE="Fair value of warrant">625,606</FONT> which was recorded as a debt
discount and initial warrant liability. The warrant liability on September 19, 2024 was $<FONT ID="xdx_909_ecustom--FairValueOfWarrant_c20240919__us-gaap--LongtermDebtTypeAxis__custom--SecuredPromissoryNotesMember_pp0p0" TITLE="Fair value of warrant">379,626</FONT> with a change in fair value recorded
in other income/expense from the initial recording date through September 30, 2024 of $245,980. The debt discount is being amortized over
the term of the Notes.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify">&#160;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify">On September 19, 2024, the warrant exercise date,
the Company eliminated the warrant liability and recognized a gain on the extinguishment of the warrants in the amount $<FONT ID="xdx_909_eus-gaap--GainsLossesOnExtinguishmentOfDebt_c20240101__20241231_pp0p0" TITLE="Gain on extinguishment of warrant liabilities">379,626</FONT>.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify">&#160;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify">The promissory Notes Payable at December 31, 2024
were as follows:</P>

<TABLE CELLPADDING="0" CELLSPACING="0" ID="xdx_89C_ecustom--ScheduleOfPromissoryNotesPayableTableTextBlock_zyo9xwh05Fq6" SUMMARY="xdx: Disclosure - DEBT (Details - Promissory Notes Payable)" STYLE="font: 8pt Arial, Helvetica, Sans-Serif; border-collapse: collapse; width: 100%">
  <TR STYLE="vertical-align: bottom">
    <TD ID="xdx_8B7_zgm7TlidZoAb" STYLE="display: none">Schedule of promissory notes payable</TD><TD>&#160;</TD>
    <TD COLSPAN="2" ID="xdx_49B_20241231_z4iDP3SSFilc">&#160;</TD><TD>&#160;</TD></TR>
  <TR ID="xdx_402_eus-gaap--NotesPayable_iI_pp0p0" STYLE="vertical-align: bottom; background-color: rgb(204,238,255)">
    <TD STYLE="font: 10pt Times New Roman, Times, Serif; width: 83%; text-align: left">Notes Payable</TD><TD STYLE="font: 10pt Times New Roman, Times, Serif; width: 1%">&#160;</TD>
    <TD STYLE="font: 10pt Times New Roman, Times, Serif; width: 1%; text-align: left">$</TD><TD STYLE="font: 10pt Times New Roman, Times, Serif; width: 14%; text-align: right">2,200,000</TD><TD STYLE="font: 10pt Times New Roman, Times, Serif; width: 1%; text-align: left">&#160;</TD></TR>
  <TR ID="xdx_405_eus-gaap--DebtInstrumentUnamortizedDiscountNoncurrent_iNI_pp0p0_di_z9jG769qJjSi" STYLE="vertical-align: bottom; background-color: White">
    <TD STYLE="font: 10pt Times New Roman, Times, Serif; text-align: left; padding-bottom: 1pt">Unamortized Discount</TD><TD STYLE="font: 10pt Times New Roman, Times, Serif; padding-bottom: 1pt">&#160;</TD>
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<P ID="xdx_8AF_zMlgndFXY4V4" STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify">&#160;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify">Amortization of the discount from the Note date of
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<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify">&#160;</P>

<P ID="xdx_233_zm6iCYz9CRe6" STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify">&#160;</P>


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    <!-- Field: /Page -->


<P ID="xdx_23C_zjxx6UIPUYH7" STYLE="font: 10pt/107% Times New Roman, Times, Serif; margin: 0 0 8pt">&#160;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify">The Company used the following assumptions in determining
the fair value of the warrant liabilities:</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify"></P>

<TABLE CELLPADDING="0" CELLSPACING="0" ID="xdx_898_eus-gaap--ScheduleOfVariableInterestEntitiesTextBlock_zoebYxJtAEIl" SUMMARY="xdx: Disclosure - DEBT (Details - Assumptions in determining the fair value of the warrant liabilities)" STYLE="font: 11pt Arial, Helvetica, Sans-Serif; border-collapse: collapse; width: 100%">
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    <TD COLSPAN="2"><FONT STYLE="font-size: 8pt">&#160;</FONT></TD><TD><FONT STYLE="font-size: 8pt">&#160;</FONT></TD><TD><FONT STYLE="font-size: 8pt">&#160;</FONT></TD>
    <TD COLSPAN="2"><FONT STYLE="font-size: 8pt">&#160;</FONT></TD><TD><FONT STYLE="font-size: 8pt">&#160;</FONT></TD><TD><FONT STYLE="font-size: 8pt">&#160;</FONT></TD>
    <TD COLSPAN="2"><FONT STYLE="font-size: 8pt">&#160;</FONT></TD><TD><FONT STYLE="font-size: 8pt">&#160;</FONT></TD></TR>
  <TR STYLE="vertical-align: bottom">
    <TD><FONT STYLE="font-size: 8pt">&#160;</FONT></TD><TD STYLE="font: bold 10pt Times New Roman, Times, Serif; padding-bottom: 1pt"><FONT STYLE="font-size: 8pt">&#160;</FONT></TD>
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  <TR STYLE="vertical-align: bottom">
    <TD STYLE="text-align: center"><FONT STYLE="font-size: 8pt">&#160;</FONT></TD><TD STYLE="font: bold 10pt Times New Roman, Times, Serif; padding-bottom: 1pt"><FONT STYLE="font-size: 8pt">&#160;</FONT></TD>
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    <TD COLSPAN="2" STYLE="border-bottom: Black 1pt solid; font: bold 10pt Times New Roman, Times, Serif; text-align: center"><FONT STYLE="font-size: 8pt">21
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    <TD STYLE="font: 10pt Times New Roman, Times, Serif; text-align: left">$</TD><TD ID="xdx_98B_ecustom--Strike_c20241231__us-gaap--ClassOfWarrantOrRightAxis__custom--UponGrantMember__srt--CounterpartyNameAxis__custom--N21AprilFundLtdMember_pdd" TITLE="Strike" STYLE="font: 10pt Times New Roman, Times, Serif; text-align: right">3.00</TD><TD STYLE="font: 10pt Times New Roman, Times, Serif; text-align: left">&#160;</TD><TD STYLE="font: 10pt Times New Roman, Times, Serif">&#160;</TD>
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    <TD STYLE="font: 10pt Times New Roman, Times, Serif; text-align: left">&#160;</TD><TD ID="xdx_989_ecustom--ShareEquivalents_c20240101__20241231__us-gaap--ClassOfWarrantOrRightAxis__custom--UponGrantMember__srt--CounterpartyNameAxis__custom--N21AprilFundLtdMember_pdd" TITLE="Share Equivalents" STYLE="font: 10pt Times New Roman, Times, Serif; text-align: right">207,273</TD><TD STYLE="font: 10pt Times New Roman, Times, Serif; text-align: left">&#160;</TD><TD STYLE="font: 10pt Times New Roman, Times, Serif">&#160;</TD>
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  <TR STYLE="vertical-align: bottom; background-color: rgb(204,238,255)">
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    <TD STYLE="font: 10pt Times New Roman, Times, Serif; text-align: left">&#160;</TD><TD ID="xdx_986_ecustom--StrikePriceDiscount_dp_c20240101__20241231__us-gaap--ClassOfWarrantOrRightAxis__custom--UponGrantMember__srt--CounterpartyNameAxis__custom--N21AprilFundLPMember_zTAHu5bEsKxa" TITLE="Strike Price discount" STYLE="font: 10pt Times New Roman, Times, Serif; text-align: right">0</TD><TD STYLE="font: 10pt Times New Roman, Times, Serif; text-align: left">%</TD><TD STYLE="font: 10pt Times New Roman, Times, Serif">&#160;</TD>
    <TD STYLE="font: 10pt Times New Roman, Times, Serif; text-align: left">&#160;</TD><TD ID="xdx_98C_ecustom--StrikePriceDiscount_dp_c20240101__20241231__us-gaap--ClassOfWarrantOrRightAxis__custom--UponGrantMember__srt--CounterpartyNameAxis__custom--N21AprilFundLtdMember_zUFvbdkA9XA9" TITLE="Strike Price discount" STYLE="font: 10pt Times New Roman, Times, Serif; text-align: right">0</TD><TD STYLE="font: 10pt Times New Roman, Times, Serif; text-align: left">%</TD><TD STYLE="font: 10pt Times New Roman, Times, Serif">&#160;</TD>
    <TD STYLE="font: 10pt Times New Roman, Times, Serif; text-align: left">&#160;</TD><TD ID="xdx_983_ecustom--StrikePriceDiscount_dp_c20240101__20241231__us-gaap--ClassOfWarrantOrRightAxis__custom--UponExerciseMember__srt--CounterpartyNameAxis__custom--N21AprilFundLPMember_z85EeAWmH1Vg" TITLE="Strike Price discount" STYLE="font: 10pt Times New Roman, Times, Serif; text-align: right">0</TD><TD STYLE="font: 10pt Times New Roman, Times, Serif; text-align: left">%</TD><TD STYLE="font: 10pt Times New Roman, Times, Serif">&#160;</TD>
    <TD STYLE="font: 10pt Times New Roman, Times, Serif; text-align: left">&#160;</TD><TD ID="xdx_989_ecustom--StrikePriceDiscount_dp_c20240101__20241231__us-gaap--ClassOfWarrantOrRightAxis__custom--UponExerciseMember__srt--CounterpartyNameAxis__custom--N21AprilFundLtdMember_zL5vACtpSaZj" TITLE="Strike Price discount" STYLE="font: 10pt Times New Roman, Times, Serif; text-align: right">0</TD><TD STYLE="font: 10pt Times New Roman, Times, Serif; text-align: left">%</TD></TR>
  <TR STYLE="vertical-align: bottom; background-color: White">
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    <TD STYLE="font: 10pt Times New Roman, Times, Serif; text-align: left">&#160;</TD><TD ID="xdx_981_eus-gaap--SharebasedCompensationArrangementBySharebasedPaymentAwardFairValueAssumptionsExpectedTerm1_dtY_c20240101__20241231__us-gaap--ClassOfWarrantOrRightAxis__custom--UponGrantMember__srt--CounterpartyNameAxis__custom--N21AprilFundLtdMember_z1Kk8a8mcG79" TITLE="Expected Remaining Term (Years)" STYLE="font: 10pt Times New Roman, Times, Serif; text-align: right">5.00</TD><TD STYLE="font: 10pt Times New Roman, Times, Serif; text-align: left">&#160;</TD><TD STYLE="font: 10pt Times New Roman, Times, Serif">&#160;</TD>
    <TD STYLE="font: 10pt Times New Roman, Times, Serif; text-align: left">&#160;</TD><TD ID="xdx_983_eus-gaap--SharebasedCompensationArrangementBySharebasedPaymentAwardFairValueAssumptionsExpectedTerm1_dtY_c20240101__20241231__us-gaap--ClassOfWarrantOrRightAxis__custom--UponExerciseMember__srt--CounterpartyNameAxis__custom--N21AprilFundLPMember_zsuY39GR4Kaf" TITLE="Expected Remaining Term (Years)" STYLE="font: 10pt Times New Roman, Times, Serif; text-align: right">4.84</TD><TD STYLE="font: 10pt Times New Roman, Times, Serif; text-align: left">&#160;</TD><TD STYLE="font: 10pt Times New Roman, Times, Serif">&#160;</TD>
    <TD STYLE="font: 10pt Times New Roman, Times, Serif; text-align: left">&#160;</TD><TD ID="xdx_98B_eus-gaap--SharebasedCompensationArrangementBySharebasedPaymentAwardFairValueAssumptionsExpectedTerm1_dtY_c20240101__20241231__us-gaap--ClassOfWarrantOrRightAxis__custom--UponExerciseMember__srt--CounterpartyNameAxis__custom--N21AprilFundLtdMember_znfikfA0d2Df" TITLE="Expected Remaining Term (Years)" STYLE="font: 10pt Times New Roman, Times, Serif; text-align: right">4.84</TD><TD STYLE="font: 10pt Times New Roman, Times, Serif; text-align: left">&#160;</TD></TR>
  <TR STYLE="vertical-align: bottom; background-color: rgb(204,238,255)">
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    <TD STYLE="font: 10pt Times New Roman, Times, Serif; text-align: left">&#160;</TD><TD ID="xdx_983_ecustom--ShareBasedCompensationArrangementByShareBasedPaymentAwardFairValueAssumptionsHistoricalVolatilityRate_dp_c20240101__20241231__us-gaap--ClassOfWarrantOrRightAxis__custom--UponGrantMember__srt--CounterpartyNameAxis__custom--N21AprilFundLPMember_zjaPUTWsk6I1" TITLE="Historical Volatility" STYLE="font: 10pt Times New Roman, Times, Serif; text-align: right">52</TD><TD STYLE="font: 10pt Times New Roman, Times, Serif; text-align: left">%</TD><TD STYLE="font: 10pt Times New Roman, Times, Serif">&#160;</TD>
    <TD STYLE="font: 10pt Times New Roman, Times, Serif; text-align: left">&#160;</TD><TD ID="xdx_982_ecustom--ShareBasedCompensationArrangementByShareBasedPaymentAwardFairValueAssumptionsHistoricalVolatilityRate_dp_c20240101__20241231__us-gaap--ClassOfWarrantOrRightAxis__custom--UponGrantMember__srt--CounterpartyNameAxis__custom--N21AprilFundLtdMember_zQjPVygipbl7" TITLE="Historical Volatility" STYLE="font: 10pt Times New Roman, Times, Serif; text-align: right">52</TD><TD STYLE="font: 10pt Times New Roman, Times, Serif; text-align: left">%</TD><TD STYLE="font: 10pt Times New Roman, Times, Serif">&#160;</TD>
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    <TD STYLE="font: 10pt Times New Roman, Times, Serif; text-align: left">&#160;</TD><TD ID="xdx_984_eus-gaap--ShareBasedCompensationArrangementByShareBasedPaymentAwardFairValueAssumptionsExpectedVolatilityRate_dp_c20240101__20241231__us-gaap--ClassOfWarrantOrRightAxis__custom--UponGrantMember__srt--CounterpartyNameAxis__custom--N21AprilFundLtdMember_z20xBHHX0WK1" TITLE="Expected Volatility" STYLE="font: 10pt Times New Roman, Times, Serif; text-align: right">100</TD><TD STYLE="font: 10pt Times New Roman, Times, Serif; text-align: left">%</TD><TD STYLE="font: 10pt Times New Roman, Times, Serif">&#160;</TD>
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  <TR STYLE="vertical-align: bottom; background-color: rgb(204,238,255)">
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  </TABLE>

<P ID="xdx_8A5_zKDgrXalYt72" STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify">&#160;&#160;</P>

<P ID="xdx_805_eus-gaap--RevenueFromContractWithCustomerTextBlock_zoPDrgPYtYy6" STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify"><B>NOTE 11 &#8211; <FONT ID="xdx_823_ziK0h7jV4X93">REVENUES AND CONTRACT ACCOUNTING</FONT></B></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify">&#160;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify">The Company generates revenue from four sources: (1)
Technology Systems; (2) AI Technology which is included in the consolidated statements of operations line-item Technology Systems; (3)
Technical Support; and (4) Consulting Services which is included in the consolidated statements of operations line-item Services and Consulting.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify">&#160;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify">Contract assets and contract liabilities on uncompleted
contracts for revenues recognized over time are as follows:</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify">&#160;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify"><B><FONT STYLE="text-decoration: underline">Contract Assets</FONT></B></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify">&#160;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify">Contract assets on uncompleted contracts represent
cumulative revenues recognized in excess of billings and/or cash received on uncompleted contracts accounted for under the cost-to-cost
input method which recognizes revenue based on the ratio of costs incurred to total estimated costs.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify">&#160;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify">At December 31, 2024 and 2023, contract assets on
uncompleted contracts consisted of the following:</P>

<TABLE CELLPADDING="0" CELLSPACING="0" ID="xdx_892_ecustom--CostsAndEstimatedEarningsInExcessOfBillingsOnUncompletedContractsTableTextBlock_zWevAybdQYuk" SUMMARY="xdx: Disclosure - REVENUES AND CONTRACT ACCOUNTING (Details - Contract assets)" STYLE="font: 11pt Arial, Helvetica, Sans-Serif; border-collapse: collapse; width: 100%">
  <TR STYLE="vertical-align: bottom">
    <TD ID="xdx_8B7_zDRx1oN8aLg4"><FONT STYLE="display: none; font-size: 8pt">&#160;Schedule of contract assets on uncompleted contracts</FONT></TD><TD><FONT STYLE="font-size: 8pt">&#160;</FONT></TD>
    <TD COLSPAN="2" ID="xdx_499_20241231_zLAhOcC4uJD4" STYLE="text-align: center"><FONT STYLE="font-size: 8pt">&#160;</FONT></TD><TD><FONT STYLE="font-size: 8pt">&#160;</FONT></TD><TD><FONT STYLE="font-size: 8pt">&#160;</FONT></TD>
    <TD COLSPAN="2" ID="xdx_490_20231231_zRKlc5nonGda" STYLE="text-align: center"><FONT STYLE="font-size: 8pt">&#160;</FONT></TD><TD><FONT STYLE="font-size: 8pt">&#160;</FONT></TD></TR>
  <TR STYLE="vertical-align: bottom">
    <TD><FONT STYLE="font-size: 8pt">&#160;</FONT></TD><TD STYLE="font: bold 10pt Times New Roman, Times, Serif; padding-bottom: 1pt"><FONT STYLE="font-size: 8pt">&#160;</FONT></TD>
    <TD COLSPAN="2" STYLE="border-bottom: Black 1pt solid; font: bold 10pt Times New Roman, Times, Serif; text-align: center"><FONT STYLE="font-size: 8pt">2024</FONT></TD><TD STYLE="font: bold 10pt Times New Roman, Times, Serif; padding-bottom: 1pt"><FONT STYLE="font-size: 8pt">&#160;</FONT></TD><TD STYLE="font: bold 10pt Times New Roman, Times, Serif; padding-bottom: 1pt"><FONT STYLE="font-size: 8pt">&#160;</FONT></TD>
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  <TR ID="xdx_400_ecustom--CumulativeRevenueRecognized_iI_pp0p0_maCWCANz7la_zvaDuaoxMwG7" STYLE="vertical-align: bottom; background-color: rgb(204,238,255)">
    <TD STYLE="font: 10pt Times New Roman, Times, Serif; width: 66%; text-align: left">Cumulative revenues recognized</TD><TD STYLE="font: 10pt Times New Roman, Times, Serif; width: 1%">&#160;</TD>
    <TD STYLE="font: 10pt Times New Roman, Times, Serif; width: 1%; text-align: left">$</TD><TD STYLE="font: 10pt Times New Roman, Times, Serif; width: 14%; text-align: right">9,916,761</TD><TD STYLE="font: 10pt Times New Roman, Times, Serif; width: 1%; text-align: left">&#160;</TD><TD STYLE="font: 10pt Times New Roman, Times, Serif; width: 1%">&#160;</TD>
    <TD STYLE="font: 10pt Times New Roman, Times, Serif; width: 1%; text-align: left">$</TD><TD STYLE="font: 10pt Times New Roman, Times, Serif; width: 14%; text-align: right">8,820,256</TD><TD STYLE="font: 10pt Times New Roman, Times, Serif; width: 1%; text-align: left">&#160;</TD></TR>
  <TR ID="xdx_400_ecustom--BillingsOrCashReceived_iNI_pp0p0_di_msCWCANz7la_zC4mJlHtBxnh" STYLE="vertical-align: bottom; background-color: White">
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  <TR ID="xdx_401_eus-gaap--ContractWithCustomerAssetNetCurrent_iTI_pp0p0_mtCWCANz7la_zdAlGEdyMb03" STYLE="vertical-align: bottom; background-color: rgb(204,238,255)">
    <TD STYLE="font: 10pt Times New Roman, Times, Serif; text-align: left; padding-bottom: 2.5pt">Contract Assets</TD><TD STYLE="font: 10pt Times New Roman, Times, Serif; padding-bottom: 2.5pt">&#160;</TD>
    <TD STYLE="border-bottom: Black 2.5pt double; font: 10pt Times New Roman, Times, Serif; text-align: left">$</TD><TD STYLE="border-bottom: Black 2.5pt double; font: 10pt Times New Roman, Times, Serif; text-align: right">635,774</TD><TD STYLE="font: 10pt Times New Roman, Times, Serif; padding-bottom: 2.5pt; text-align: left">&#160;</TD><TD STYLE="font: 10pt Times New Roman, Times, Serif; padding-bottom: 2.5pt">&#160;</TD>
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  </TABLE>

<P ID="xdx_8AE_z2ljJsx7inzj" STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0">&#160;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify"><B><FONT STYLE="text-decoration: underline">Contract Liabilities</FONT></B></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify">&#160;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify">Contract liabilities on uncompleted contracts represent
billings and/or cash received that exceed cumulative revenues recognized on uncompleted contracts accounted for under the cost-to-cost
input method, which recognizes revenues based on the ratio of the cost incurred to total estimated costs.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify">&#160;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify">Contract liabilities on services and consulting revenues
represent billings and/or cash received in excess of revenue recognized on service agreements that are not accounted for under the cost-to-cost
input method.</P>

<P ID="xdx_23F_zoRPEQMRFeri" STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0">&#160;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0"></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify">&#160;</P>

<P ID="xdx_232_zPL0EmG86zTi" STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify">&#160;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify"></P>


<!-- Field: Page; Sequence: 104 -->
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<P ID="xdx_232_zV7jZagrH2zb" STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0">&#160;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0">At December 31, 2024 and December 31, 2023, contract liabilities
on uncompleted contracts and contract liabilities on services and consulting consisted of the following:</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0"></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify"></P>

<TABLE CELLPADDING="0" CELLSPACING="0" ID="xdx_892_ecustom--ScheduleOfBillingsInExcessOfCostsAndEstimatedEarningsOnUncompletedContractsTableTextBlock_zPusP8Gf7wE1" SUMMARY="xdx: Disclosure - REVENUES AND CONTRACT ACCOUNTING (Details - Contract liabilities)" STYLE="font: 11pt Arial, Helvetica, Sans-Serif; border-collapse: collapse; width: 100%">
  <TR STYLE="vertical-align: bottom">
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    <TD COLSPAN="2" ID="xdx_493_20241231_zG1R5LCYn4rg" STYLE="text-align: center"><FONT STYLE="font-size: 8pt">&#160;</FONT></TD><TD><FONT STYLE="font-size: 8pt">&#160;</FONT></TD><TD><FONT STYLE="font-size: 8pt">&#160;</FONT></TD>
    <TD COLSPAN="2" ID="xdx_497_20231231_zPpzDOuzbxt6" STYLE="text-align: center"><FONT STYLE="font-size: 8pt">&#160;</FONT></TD><TD><FONT STYLE="font-size: 8pt">&#160;</FONT></TD></TR>
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    <TD><FONT STYLE="font-size: 8pt">&#160;</FONT></TD><TD STYLE="font: bold 10pt Times New Roman, Times, Serif; padding-bottom: 1pt"><FONT STYLE="font-size: 8pt">&#160;</FONT></TD>
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    <TD COLSPAN="2" STYLE="border-bottom: Black 1pt solid; font: bold 10pt Times New Roman, Times, Serif; text-align: center"><FONT STYLE="font-size: 8pt">2023</FONT></TD><TD STYLE="font: bold 10pt Times New Roman, Times, Serif; padding-bottom: 1pt"><FONT STYLE="font-size: 8pt">&#160;</FONT></TD></TR>
  <TR ID="xdx_406_ecustom--BillingsAndorCashReceiptsOnUncompletedContracts_iI_pp0p0_maCLTSzULT_zo23iWpGYFYi" STYLE="vertical-align: bottom; background-color: rgb(204,238,255)">
    <TD STYLE="font: 10pt Times New Roman, Times, Serif; width: 66%; text-align: left">Billings and/or cash receipts on uncompleted contracts</TD><TD STYLE="font: 10pt Times New Roman, Times, Serif; width: 1%">&#160;</TD>
    <TD STYLE="font: 10pt Times New Roman, Times, Serif; width: 1%; text-align: left">$</TD><TD STYLE="font: 10pt Times New Roman, Times, Serif; width: 14%; text-align: right">1,264,658</TD><TD STYLE="font: 10pt Times New Roman, Times, Serif; width: 1%; text-align: left">&#160;</TD><TD STYLE="font: 10pt Times New Roman, Times, Serif; width: 1%">&#160;</TD>
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  <TR ID="xdx_400_ecustom--CumulativeRevenuesRecognized_iNI_pp0p0_di_msCLTSzULT_zs1fjbG5Fh3f" STYLE="vertical-align: bottom; background-color: White">
    <TD STYLE="font: 10pt Times New Roman, Times, Serif; text-align: left; padding-bottom: 1pt">Less: Cumulative revenues recognized</TD><TD STYLE="font: 10pt Times New Roman, Times, Serif; padding-bottom: 1pt">&#160;</TD>
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  <TR ID="xdx_40A_ecustom--ContractLiabilitiesTechnologiesSystems_iTI_pp0p0_mtCLTSzULT_maCWCLCz49C_zFrSXjXlvhtc" STYLE="vertical-align: bottom; background-color: rgb(204,238,255)">
    <TD STYLE="font: 10pt Times New Roman, Times, Serif; text-align: left">Contract liabilities, technology systems, current</TD><TD STYLE="font: 10pt Times New Roman, Times, Serif">&#160;</TD>
    <TD STYLE="font: 10pt Times New Roman, Times, Serif; text-align: left">$</TD><TD STYLE="font: 10pt Times New Roman, Times, Serif; text-align: right">403,634</TD><TD STYLE="font: 10pt Times New Roman, Times, Serif; text-align: left">&#160;</TD><TD STYLE="font: 10pt Times New Roman, Times, Serif">&#160;</TD>
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<P ID="xdx_8AE_zyEjyZ5EbyG3" STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify">&#160;&#160;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify">Contract liabilities at December 31, 2023 were $<FONT ID="xdx_908_eus-gaap--ContractWithCustomerLiabilityCurrent_c20231231_pp0p0" TITLE="Contract liabilities">1,666,243</FONT>;
of which $<FONT ID="xdx_905_ecustom--ContractLiabilitiesForTechnologySystems_iI_pp0p0_c20231231_zWthpl1ABgyl" TITLE="Contract liabilities for technology systems">661,048</FONT> for technology systems and $<FONT ID="xdx_90F_ecustom--ServicesAndConsultingRecognized_c20241231_pp0p0" TITLE="Services and consulting recognized">601,560</FONT> in services and consulting have been recognized as of December 31, 2024.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify">&#160;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify">The Company expects to recognize all current
contract liabilities within 12 months from the respective consolidated balance sheet date. In May 2024, the Company recorded an
initial deferred revenue as a contract liability in the amount of $<FONT ID="xdx_907_eus-gaap--DeferredRevenue_c20240531__us-gaap--FiniteLivedIntangibleAssetsByMajorClassAxis__us-gaap--CustomerContractsMember_pp0p0" TITLE="Deferred revenue">11,161,428</FONT>
of which $<FONT ID="xdx_90C_ecustom--RecognizedDeferredRevenue_c20240531__us-gaap--FiniteLivedIntangibleAssetsByMajorClassAxis__us-gaap--CustomerContractsMember_pp0p0" TITLE="Recognized deferred revenue">199,008</FONT>
related to a pilot program was immediately recognized as revenue (See Note 4) and another $<FONT ID="xdx_903_ecustom--RecognizedDeferredRevenue_iI_pp0p0_c20241231__us-gaap--FiniteLivedIntangibleAssetsByMajorClassAxis__us-gaap--CustomerContractsMember_zSAiHGw0YrUa" TITLE="Recognized deferred revenue">1,569,310</FONT> was recognized in 2024.. This contract liability resulted from a five-year
contract with a customer where the Company received non-monetary consideration recorded as intangible assets (See Note 4) This
transaction was accounted for under ASC 606-10-32-21 through ASC-606-10-32-24, Non-Cash Consideration. The performance obligations,
which include various support and maintenance services will be recognized as revenue pro-rata over time during the five-year
contract term. The current contract liabilities of $<FONT ID="xdx_907_ecustom--ContractWithCustomerLiabilityCurrent1_c20241231_pp0p0" TITLE="Current contract liabilities">2,192,484</FONT>
for just this contract as of December 31, 2024 relate to the portion of the contract value the Company expects to recognize pro-rata
within the next twelve months. The non-current contract liabilities of $<FONT ID="xdx_904_ecustom--ContractWithCustomerLiabilityNoncurrent1_c20241231_pp0p0" TITLE="Non-current contract liabilities">7,399,634</FONT>
as of December 31, 2024 represent the portion of the contract value that is expected to be recognized pro-rata beyond the next
twelve months. If the Digital Image License Agreement is terminated prior to the completion of the five-year term, then the customer
will pay for the maintenance and support services annually in cash.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify">&#160;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify"></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0 0 12pt; text-align: justify">In December 2024, the Company entered into
a series of contracts with Fortress under which the Company will deploy and operate a fleet of mobile gas turbines and balance-of-plant
inventory, providing management, sales and operations functions to Sawgrass in connection with the assets. In exchange for services performed
under the Asset Management Agreement (&#8220;AMA&#8221;), the Company received an advance cash payments and common units in Sawgrass
(see Note 9). Sawgrass paid the Company $5.0 million in cash upon execution of the contract, which will be applied ratably on a monthly
basis against amounts incurred under the AMA for a period of 12 months in 2025. In the event that the AMA is terminated within the first
12 months, any balance remaining of the advanced funds would be credited in full to Duos.</P>

<P ID="xdx_231_zhOADb3Kj9l1" STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify"></P>

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<P ID="xdx_23C_zelABOL3f6Oh" STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify">&#160;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0 0 12pt; text-align: justify">As of December 31, 2024, deferred revenue under the arrangement
was $<FONT ID="xdx_90D_eus-gaap--DeferredRevenue_iI_pn3n3_dm_c20241231__us-gaap--TypeOfArrangementAxis__custom--AssetManagementAgreementMember__srt--CounterpartyNameAxis__custom--SawgrassAPRHoldingsLLCMember_zs2BJ01b9kKe" TITLE="Deferred revenue">5.0</FONT> million, comprised of the $<FONT ID="xdx_90B_eus-gaap--PaymentsForAdvanceToAffiliate_pn3n3_dm_c20240101__20241231__us-gaap--TypeOfArrangementAxis__custom--AssetManagementAgreementMember__srt--CounterpartyNameAxis__custom--SawgrassHoldingsLLCMember_zrnF21Ukgfyh" TITLE="Advance payment">5.0</FONT> million advance payment. The Company did <FONT ID="xdx_905_eus-gaap--Revenues_pp0p0_do_c20240101__20241231__us-gaap--TypeOfArrangementAxis__custom--AssetManagementAgreementMember__srt--CounterpartyNameAxis__custom--SawgrassHoldingsLLCMember_zc24dEC3IhPk" TITLE="Revenues">no</FONT>t recognize any revenue under the AMA during the year
ended December 31, 2024.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0 0 12pt; text-align: justify">The Company also concluded that the arrangement
with Sawgrass is within the scope of ASC 606, Revenue from contracts with customers, and the common units issued to the Company by Sawgrass
Parent represented non-cash consideration. The initial carrying value as of December 31, 2024 of $<FONT ID="xdx_90C_ecustom--CarryingValueOfCommonUnitsReceived_iI_pn3n3_dm_c20241231__us-gaap--TypeOfArrangementAxis__custom--AssetManagementAgreementMember_zBlWrAck9lL8" TITLE="Carrying value of common units received">7.2</FONT>
million was measured equal to the fair value of the common units received for future services to be performed under the AMA. The Company
recorded $<FONT ID="xdx_902_eus-gaap--DeferredRevenue_iI_pn3n3_dm_c20241231__us-gaap--TypeOfArrangementAxis__custom--AssetManagementAgreementMember_zfcZXZP0Abv5">7.2</FONT>
million of deferred revenue for services to be performed under the AMA (see Note 9). During the year ended December 31, 2024, the Company
did not recognize any revenue associated with the AMA. The Company initially recorded the equity method investment in Sawgrass of $<FONT ID="xdx_90A_eus-gaap--EquityMethodInvestments_iI_pn3n3_dm_c20241231__srt--CounterpartyNameAxis__custom--SawgrassParentMember_zMdYLkjecZbk">7.2</FONT>
million, equal to the fair value of the common units as of December 31, 2024.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify"></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify">As of December 31, 2024, the balance in contract liabilities
pertaining to the non-monetary transaction agreement is as follows:</P>

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<P ID="xdx_8AD_z59ZBsZXhe06" STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify"><B>&#160;</B></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify"><B></B></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify">The Company will fully recognize $5.0 million in revenue
pertaining to the AMA during 2025.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify">&#160;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify">As of December 31, 2024, the balance in contract liabilities
pertaining to the value of the equity method interest will be recognized as revenue as follows:</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify">&#160;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify"></P>

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  <TR STYLE="vertical-align: bottom">
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  <TR STYLE="vertical-align: bottom; background-color: rgb(204,238,255)">
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  <TR STYLE="vertical-align: bottom; background-color: White">
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<P ID="xdx_8AE_z6qGe4rXh6c" STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify">&#160;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify"><B>Disaggregation of Revenue</B></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify"><B>&#160;</B></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify">The Company is following the guidance of ASC 606-10-55-296
and 297 for disaggregation of revenue. Accordingly, revenue has been disaggregated according to the nature, amount, timing and uncertainty
of revenue and cash flows. We are providing qualitative and quantitative disclosures.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0">&#160;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0"><B>Qualitative:</B></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0">&#160;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0">1. We have four distinct revenue sources:</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0 0 0 0.5in">a. Technology Systems (Turnkey, engineered projects);</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0 0 0 0.5in">b. AI Technology (Associated maintenance and support services);</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0 0 0 0.5in; text-align: justify">c. Technical Support (Operational support,
asset management of power generation systems); and</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0 0 0 0.5in; text-align: justify">d. Consulting Services (Predetermined algorithms
to provide important operating information to the users of our systems).</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0">2. We currently operate in North America including the USA, Mexico and
Canada.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0">3. Our customers include rail transportation, and commercial.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0">4. Our technology systems and equipment projects fall into two types:</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0 0 0 0.5in">a. Transfer of goods and services over time.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0 0 0 0.5in">b. Goods delivered at point in time.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0">5. Our services &amp; maintenance contracts are fixed price and fall into
two duration types:</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0 0 0 0.5in; text-align: justify">a. Turnkey engineered projects and professional
service contracts that are less than one year in duration and are typically one to two quarters in length; and</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0 0 0 0.5in">b. Maintenance and support contracts ranging from one to five
years in length.</P>

<P ID="xdx_236_zPeZun3NsYsh" STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0">&#160;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0">&#160;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify"></P>

<!-- Field: Page; Sequence: 106 -->
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    <DIV STYLE="break-before: page; margin-top: 6pt"><TABLE CELLPADDING="0" CELLSPACING="0" STYLE="width: 100%"><TR><TD STYLE="text-align: center; width: 100%"><P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: center"><B>DUOS TECHNOLOGIES GROUP, INC. AND SUBSIDIARIES</B></P><P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: center"><B>NOTES TO CONSOLIDATED FINANCIAL STATEMENTS</B></P><P STYLE="font: 10pt/115% Times New Roman, Times, Serif; margin: 0 0 8pt; text-align: center"><B>DECEMBER 31, 2024 AND 2023</B></P></TD></TR></TABLE></DIV>
    <!-- Field: /Page -->

<P ID="xdx_23B_z3MXtXy5ZBy6" STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify">&#160;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify"><B>Quantitative:</B></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify"><B>&#160;</B></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: center"><B><FONT STYLE="text-decoration: underline">For the Year Ended December 31, 2024</FONT></B></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0"></P>

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  <TR STYLE="vertical-align: bottom; background-color: White">
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<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0">&#160;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0"></P>

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<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify; text-indent: 0.5in">&#160;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: center"><B><FONT STYLE="text-decoration: underline">For the Year Ended December 31, 2023</FONT></B></P>

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  <TR STYLE="vertical-align: bottom; background-color: White">
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  <TR STYLE="vertical-align: bottom; background-color: rgb(204,238,255)">
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  </TABLE>


<P ID="xdx_8AD_z8HcBvW7ab8c" STYLE="margin-top: 0; margin-bottom: 0">&#160;</P>
<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify"><B><FONT STYLE="text-decoration: underline">Segment Information</FONT></B></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify"><B>&#160;</B></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify">In November 2023, the FASB issued ASU 2023-07 Segment
Reporting (Topic 280): Improvements to Reportable Segment Disclosures. ASU 2023-07 requires companies to disclose significant segment
expenses that are regularly provided to the chief operating decision maker. ASU 2023-07 is effective for annual periods beginning on January
1, 2024 and interim periods beginning on January 1, 2025. ASU 2023-07 must be applied retrospectively to all prior periods presented in
the financial statements. The Company has evaluated the disclosure impact of ASU 2023-07; and determined the standard will not have an
impact on the Company&#8217;s consolidated financial statements.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0"></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0">&#160;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify">In 2024, the Company principally operated in one reportable segment related
to the development and commercialization of technology solutions in the transportation and industrial sectors. The Chief Operating Decision
Maker (&#8220;CODM&#8221;) for the Company is Mr. Chuck Ferry, the Chief Executive Officer (the &#8220;CEO&#8221;). The Company&#8217;s
CEO reviews operating results on an aggregate basis and manages the Company&#8217;s operations as a whole for the purpose of evaluating
financial performance and allocating resources. Accordingly, the Company has determined that it has a single reportable and operating
segment structure. The CEO evaluates financial performance regularly by comparing actual results with established budgets and forecasts.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0">&#160;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify">The CEO assesses performance for the Company and decides how to allocate
resources based on the aggregate net loss that is reported on the accompanying consolidated statement of operations as net loss. The measure
of segment assets is reported on the consolidated balance sheets as total assets.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify">&#160;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify"></P>

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<P ID="xdx_23F_zBlhjlV2sU95" STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify">&#160;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify"></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify"></P>

<P ID="xdx_800_eus-gaap--CommitmentsAndContingenciesDisclosureTextBlock_zDcL7dGS2RUg" STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify"><B>NOTE 12 &#8211; <FONT ID="xdx_823_zkDQjTSlMmwj">COMMITMENTS AND CONTINGENCIES</FONT></B></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify"><B>&#160;</B></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify"><B><FONT STYLE="text-decoration: underline">Operating Lease Obligations</FONT></B></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify">&#160;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify">On July 26, 2021, the Company entered a new operating
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April 30, 2032. This new space combines the Company&#8217;s two separate work locations into one facility, which allows for greater collaboration
and also accommodates a larger anticipated workforce and manufacturing facility. On November 24, 2021, the lease was amended to commence
on December 1, 2021, and end on May 31, 2032. The Company recognized a ROU asset and operating lease liability in the amount of $<FONT ID="xdx_90F_eus-gaap--OperatingLeaseLiability_c20210726__us-gaap--MajorPropertyClassAxis__us-gaap--PropertyAvailableForOperatingLeaseMember_pp0p0" TITLE="Operating lease liability">4,980,104</FONT>
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<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify">&#160;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify">As of December 31, 2024, the office and warehouse
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certain to be exercised, and therefore, they are not included when determining the lease term used to establish the right-of use asset
and lease liability. The Company also has several short-term leases, primarily related to equipment. The Company made an accounting policy
election to not recognize short-term leases with terms of twelve months or less on the consolidated balance sheet and instead recognize
the lease payments in expense as incurred. The Company has also elected to account for real estate leases that contain both lease and
non-lease components (such as common area maintenance) as a single lease component.&#160;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify">&#160;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify">The following table shows supplemental information
related to leases:</P>

<TABLE CELLPADDING="0" CELLSPACING="0" ID="xdx_89B_ecustom--ScheduleOfSupplementalInformationRelatedLeasesTableTextBlock_hus-gaap--MajorPropertyClassAxis__us-gaap--PropertySubjectToOperatingLeaseMember_zX71hMUHZqpd" SUMMARY="xdx: Disclosure - COMMITMENTS AND CONTINGENCIES (Details - Supplemental information related to leases)" STYLE="font: 11pt Arial, Helvetica, Sans-Serif; border-collapse: collapse; width: 100%">
  <TR STYLE="vertical-align: bottom">
    <TD ID="xdx_8B7_zORmZ5HeLHel"><FONT STYLE="display: none; font-size: 8pt">&#160;Schedule of supplemental information related to leases</FONT></TD><TD><FONT STYLE="font-size: 8pt">&#160;</FONT></TD>
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    <TD COLSPAN="6" STYLE="border-bottom: Black 1pt solid; font: bold 10pt Times New Roman, Times, Serif; text-align: center"><FONT STYLE="font-size: 8pt">Year
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  <TR STYLE="vertical-align: bottom; background-color: rgb(204,238,255)">
    <TD STYLE="font: bold 10pt Times New Roman, Times, Serif; text-align: left">Lease cost:</TD><TD>&#160;</TD>
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  <TR STYLE="vertical-align: bottom; background-color: White">
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  <TR STYLE="vertical-align: bottom; background-color: rgb(204,238,255)">
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  <TR STYLE="vertical-align: bottom; background-color: White">
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  <TR STYLE="vertical-align: bottom; background-color: rgb(204,238,255)">
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    <TD STYLE="text-align: left">&#160;</TD><TD STYLE="text-align: right">&#160;</TD><TD STYLE="text-align: left">&#160;</TD></TR>
  <TR STYLE="vertical-align: bottom; background-color: White">
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  <TR STYLE="vertical-align: bottom; background-color: rgb(204,238,255)">
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  <TR STYLE="vertical-align: bottom; background-color: White">
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  </TABLE>

<P ID="xdx_8AB_z7MA4xTiao9c" STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify">&#160;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify">At December 31, 2024, future minimum lease payments
due under the operating lease are as follows:</P>

<TABLE CELLPADDING="0" CELLSPACING="0" ID="xdx_89C_eus-gaap--LesseeOperatingLeaseLiabilityMaturityTableTextBlock_hus-gaap--MajorPropertyClassAxis__us-gaap--PropertySubjectToOperatingLeaseMember_zQjGuimtkbz7" SUMMARY="xdx: Disclosure - COMMITMENTS AND CONTINGENCIES (Details - Future minimum lease payments)" STYLE="font: 11pt Arial, Helvetica, Sans-Serif; border-collapse: collapse; width: 100%">
  <TR STYLE="vertical-align: bottom">
    <TD ID="xdx_8BB_zyJpQ8cDgQDe" STYLE="display: none">Schedule of future minimum lease payments due under the operating lease</TD><TD>&#160;</TD>
    <TD COLSPAN="2" STYLE="text-align: center">&#160;</TD><TD>&#160;</TD></TR>
  <TR STYLE="vertical-align: bottom">
    <TD><FONT STYLE="font-size: 8pt">&#160;</FONT></TD><TD STYLE="font: bold 10pt Times New Roman, Times, Serif; padding-bottom: 1pt"><FONT STYLE="font-size: 8pt">&#160;</FONT></TD>
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  <TR STYLE="vertical-align: bottom; background-color: rgb(204,238,255)">
    <TD STYLE="font: bold 10pt Times New Roman, Times, Serif; text-align: justify">Calendar year:</TD><TD>&#160;</TD>
    <TD STYLE="text-align: left">&#160;</TD><TD STYLE="text-align: right">&#160;</TD><TD STYLE="text-align: left">&#160;</TD></TR>
  <TR STYLE="vertical-align: bottom; background-color: White">
    <TD STYLE="font: 10pt Times New Roman, Times, Serif; width: 83%; text-align: justify; text-indent: 10pt">2025</TD><TD STYLE="font: 10pt Times New Roman, Times, Serif; width: 1%">&#160;</TD>
    <TD STYLE="font: 10pt Times New Roman, Times, Serif; width: 1%; text-align: left">$</TD><TD ID="xdx_981_eus-gaap--LesseeOperatingLeaseLiabilityPaymentsRemainderOfFiscalYear_c20241231__us-gaap--MajorPropertyClassAxis__us-gaap--PropertyAvailableForOperatingLeaseMember_pp0p0" TITLE="2025" STYLE="font: 10pt Times New Roman, Times, Serif; width: 14%; text-align: right">798,556</TD><TD STYLE="font: 10pt Times New Roman, Times, Serif; width: 1%; text-align: left">&#160;</TD></TR>
  <TR STYLE="vertical-align: bottom; background-color: rgb(204,238,255)">
    <TD STYLE="font: 10pt Times New Roman, Times, Serif; text-align: justify; text-indent: 10pt">2026</TD><TD STYLE="font: 10pt Times New Roman, Times, Serif">&#160;</TD>
    <TD STYLE="font: 10pt Times New Roman, Times, Serif; text-align: left">&#160;</TD><TD ID="xdx_988_eus-gaap--LesseeOperatingLeaseLiabilityPaymentsDueNextTwelveMonths_c20241231__us-gaap--MajorPropertyClassAxis__us-gaap--PropertyAvailableForOperatingLeaseMember_pp0p0" TITLE="2026" STYLE="font: 10pt Times New Roman, Times, Serif; text-align: right">818,518</TD><TD STYLE="font: 10pt Times New Roman, Times, Serif; text-align: left">&#160;</TD></TR>
  <TR STYLE="vertical-align: bottom; background-color: White">
    <TD STYLE="font: 10pt Times New Roman, Times, Serif; text-align: justify; text-indent: 10pt">2027</TD><TD STYLE="font: 10pt Times New Roman, Times, Serif">&#160;</TD>
    <TD STYLE="font: 10pt Times New Roman, Times, Serif; text-align: left">&#160;</TD><TD ID="xdx_981_eus-gaap--LesseeOperatingLeaseLiabilityPaymentsDueYearTwo_c20241231__us-gaap--MajorPropertyClassAxis__us-gaap--PropertyAvailableForOperatingLeaseMember_pp0p0" TITLE="2027" STYLE="font: 10pt Times New Roman, Times, Serif; text-align: right">838,984</TD><TD STYLE="font: 10pt Times New Roman, Times, Serif; text-align: left">&#160;</TD></TR>
  <TR STYLE="vertical-align: bottom; background-color: rgb(204,238,255)">
    <TD STYLE="font: 10pt Times New Roman, Times, Serif; text-align: justify; text-indent: 10pt">2028</TD><TD STYLE="font: 10pt Times New Roman, Times, Serif">&#160;</TD>
    <TD STYLE="font: 10pt Times New Roman, Times, Serif; text-align: left">&#160;</TD><TD ID="xdx_98B_eus-gaap--LesseeOperatingLeaseLiabilityPaymentsDueYearThree_c20241231__us-gaap--MajorPropertyClassAxis__us-gaap--PropertyAvailableForOperatingLeaseMember_pp0p0" TITLE="2028" STYLE="font: 10pt Times New Roman, Times, Serif; text-align: right">859,856</TD><TD STYLE="font: 10pt Times New Roman, Times, Serif; text-align: left">&#160;</TD></TR>
  <TR STYLE="vertical-align: bottom; background-color: White">
    <TD STYLE="font: 10pt Times New Roman, Times, Serif; text-align: justify; padding-bottom: 1pt">&#160;&#160;&#160;Thereafter</TD><TD STYLE="font: 10pt Times New Roman, Times, Serif; padding-bottom: 1pt">&#160;</TD>
    <TD STYLE="border-bottom: Black 1pt solid; font: 10pt Times New Roman, Times, Serif; text-align: left">&#160;</TD><TD ID="xdx_98E_eus-gaap--LesseeOperatingLeaseLiabilityPaymentsDueAfterYearFive_c20241231__us-gaap--MajorPropertyClassAxis__us-gaap--PropertyAvailableForOperatingLeaseMember_pp0p0" TITLE="Thereafter" STYLE="border-bottom: Black 1pt solid; font: 10pt Times New Roman, Times, Serif; text-align: right">3,183,571</TD><TD STYLE="font: 10pt Times New Roman, Times, Serif; padding-bottom: 1pt; text-align: left">&#160;</TD></TR>
  <TR STYLE="vertical-align: bottom; background-color: rgb(204,238,255)">
    <TD STYLE="font: 10pt Times New Roman, Times, Serif; text-align: justify">&#160;&#160;&#160;&#160;&#160;&#160;Total undiscounted future minimum lease payments</TD><TD STYLE="font: 10pt Times New Roman, Times, Serif">&#160;</TD>
    <TD STYLE="font: 10pt Times New Roman, Times, Serif; text-align: left">&#160;</TD><TD ID="xdx_98D_eus-gaap--LesseeOperatingLeaseLiabilityPaymentsDue_c20241231__us-gaap--MajorPropertyClassAxis__us-gaap--PropertyAvailableForOperatingLeaseMember_pp0p0" TITLE="Total undiscounted future minimum lease payments" STYLE="font: 10pt Times New Roman, Times, Serif; text-align: right">6,499,485</TD><TD STYLE="font: 10pt Times New Roman, Times, Serif; text-align: left">&#160;</TD></TR>
  <TR STYLE="vertical-align: bottom; background-color: White">
    <TD STYLE="font: 10pt Times New Roman, Times, Serif; text-align: justify; padding-bottom: 1pt">Less: Impact of discounting</TD><TD STYLE="font: 10pt Times New Roman, Times, Serif; padding-bottom: 1pt">&#160;</TD>
    <TD STYLE="border-bottom: Black 1pt solid; font: 10pt Times New Roman, Times, Serif; text-align: left">&#160;</TD><TD ID="xdx_984_eus-gaap--LesseeOperatingLeaseLiabilityUndiscountedExcessAmount_iNI_pp0p0_di_c20241231__us-gaap--MajorPropertyClassAxis__us-gaap--PropertyAvailableForOperatingLeaseMember_zmNQWYIQuZ6f" TITLE="Less: Impact of discounting" STYLE="border-bottom: Black 1pt solid; font: 10pt Times New Roman, Times, Serif; text-align: right">(1,833,887</TD><TD STYLE="font: 10pt Times New Roman, Times, Serif; padding-bottom: 1pt; text-align: left">)</TD></TR>
  <TR STYLE="vertical-align: bottom; background-color: rgb(204,238,255)">
    <TD STYLE="font: 10pt Times New Roman, Times, Serif; text-align: justify">Total present value of operating lease obligation</TD><TD STYLE="font: 10pt Times New Roman, Times, Serif">&#160;</TD>
    <TD STYLE="font: 10pt Times New Roman, Times, Serif; text-align: left">&#160;</TD><TD ID="xdx_981_eus-gaap--OperatingLeaseLiability_c20241231__us-gaap--MajorPropertyClassAxis__us-gaap--PropertyAvailableForOperatingLeaseMember_pp0p0" TITLE="Total present value of operating lease obligations" STYLE="font: 10pt Times New Roman, Times, Serif; text-align: right">4,665,598</TD><TD STYLE="font: 10pt Times New Roman, Times, Serif; text-align: left">&#160;</TD></TR>
  <TR STYLE="vertical-align: bottom; background-color: White">
    <TD STYLE="font: 10pt Times New Roman, Times, Serif; text-align: justify; padding-bottom: 1pt">&#160;&#160;&#160;&#160;&#160;&#160;Current portion</TD><TD STYLE="font: 10pt Times New Roman, Times, Serif; padding-bottom: 1pt">&#160;</TD>
    <TD STYLE="border-bottom: Black 1pt solid; font: 10pt Times New Roman, Times, Serif; text-align: left">&#160;</TD><TD ID="xdx_987_eus-gaap--OperatingLeaseLiabilityCurrent_iNI_pp0p0_di_c20241231__us-gaap--MajorPropertyClassAxis__us-gaap--PropertyAvailableForOperatingLeaseMember_zEGEglNcs9tf" TITLE="Current portion, operating lease obligation" STYLE="border-bottom: Black 1pt solid; font: 10pt Times New Roman, Times, Serif; text-align: right">(798,556</TD><TD STYLE="font: 10pt Times New Roman, Times, Serif; padding-bottom: 1pt; text-align: left">)</TD></TR>
  <TR STYLE="vertical-align: bottom; background-color: rgb(204,238,255)">
    <TD STYLE="font: 10pt Times New Roman, Times, Serif; text-align: justify; padding-bottom: 2.5pt">Operating lease obligation, less current portion</TD><TD STYLE="font: 10pt Times New Roman, Times, Serif; padding-bottom: 2.5pt">&#160;</TD>
    <TD STYLE="border-bottom: Black 2.5pt double; font: 10pt Times New Roman, Times, Serif; text-align: left">$</TD><TD ID="xdx_98D_eus-gaap--OperatingLeaseLiabilityNoncurrent_c20241231__us-gaap--MajorPropertyClassAxis__us-gaap--PropertyAvailableForOperatingLeaseMember_pp0p0" TITLE="Operating lease obligations, less current portion" STYLE="border-bottom: Black 2.5pt double; font: 10pt Times New Roman, Times, Serif; text-align: right">3,867,042</TD><TD STYLE="font: 10pt Times New Roman, Times, Serif; padding-bottom: 2.5pt; text-align: left">&#160;</TD></TR>
  </TABLE>

<P ID="xdx_8AC_zxthJX66CwT6" STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0"><B>&#160;</B></P>

<P ID="xdx_237_zBeHztvbHpQl" STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0"><B>&#160;</B></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0"></P>

<!-- Field: Page; Sequence: 108 -->
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    <!-- Field: /Page -->

<P ID="xdx_235_z4U3ISovbv3i" STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0">&#160;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0"><B>Master Lease Agreement</B></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0"><B>&#160;</B></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0"><B></B></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0 0 9pt; text-align: justify">On November 1, 2024, the Company entered into
a Master Lease Agreement (&#8220;MLA&#8221;) for a total lease obligation of $<FONT ID="xdx_906_eus-gaap--OperatingLeaseLiability_iI_pp0p0_c20241102__us-gaap--MajorPropertyClassAxis__custom--PropertyAvailableForMasterLeaseMember_zcakaZQSBkE6" TITLE="Operating lease liability">2,662,282</FONT>. The lease is structured with a repayment term
of <FONT ID="xdx_90A_eus-gaap--LesseeOperatingLeaseRemainingLeaseTerm_iI_dtM_c20241102__us-gaap--MajorPropertyClassAxis__custom--PropertyAvailableForMasterLeaseMember_zF2ybGjA1DP3" TITLE="Lease term">66</FONT> months, with fixed monthly payments commencing on December 10, 2024. At the end of the lease term, the Company has the option to
purchase the leased asset for $1.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0 0 9pt; text-align: justify">In accordance with ASC 842, the lease is classified as a finance
lease, as the $1 buyout option indicates a transfer of ownership. As a result, the Company has recorded a right-of-use asset and a corresponding
lease liability on its balance sheet. Interest expense and amortization of the right-of-use asset will be recognized over the lease term.
Management believes this lease structure supports the Company&#8217;s operational and financial objectives.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify">The following table shows supplemental information
related to the MLA:</P>

<TABLE CELLPADDING="0" CELLSPACING="0" ID="xdx_891_ecustom--ScheduleOfSupplementalInformationRelatedLeasesTableTextBlock_hus-gaap--MajorPropertyClassAxis__custom--MasterLeaseAgreementMember_zrULXqISfDq5" SUMMARY="xdx: Disclosure - COMMITMENTS AND CONTINGENCIES (Details - Supplemental information related to leases)" STYLE="font: 10pt Times New Roman, Times, Serif; border-collapse: collapse; width: 100%">
  <TR STYLE="vertical-align: bottom">
    <TD ID="xdx_8B4_zFHur8f8WCd6" STYLE="display: none; font-size: 12pt">Schedule of supplemental information related to leases</TD><TD STYLE="font-size: 12pt">&#160;</TD>
    <TD COLSPAN="2" STYLE="font-size: 12pt; text-align: right">&#160;</TD><TD STYLE="font-size: 12pt">&#160;</TD><TD STYLE="font-size: 12pt">&#160;</TD>
    <TD COLSPAN="2" STYLE="font-size: 12pt; text-align: right">&#160;</TD><TD STYLE="font-size: 12pt">&#160;</TD></TR>
  <TR STYLE="vertical-align: bottom">
    <TD STYLE="font-size: 12pt; text-align: center">&#160;</TD><TD STYLE="font-size: 8pt; font-weight: bold; padding-bottom: 1pt">&#160;</TD>
    <TD COLSPAN="6" STYLE="border-bottom: Black 1pt solid; font-size: 8pt; font-weight: bold; text-align: center">Year Ended December 31,</TD><TD STYLE="padding-bottom: 1pt; font-size: 8pt; font-weight: bold">&#160;</TD></TR>
  <TR STYLE="vertical-align: bottom">
    <TD STYLE="font-size: 12pt">&#160;</TD><TD STYLE="font-size: 8pt; font-weight: bold; padding-bottom: 1pt">&#160;</TD>
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  <TR STYLE="vertical-align: bottom; background-color: rgb(204,238,255)">
    <TD STYLE="font-weight: bold; text-align: left">Lease cost:</TD><TD STYLE="font-size: 12pt">&#160;</TD>
    <TD STYLE="font-size: 12pt; text-align: left">&#160;</TD><TD STYLE="font-size: 12pt; text-align: right">&#160;</TD><TD STYLE="font-size: 12pt; text-align: left">&#160;</TD><TD STYLE="font-size: 12pt">&#160;</TD>
    <TD STYLE="font-size: 12pt; text-align: left">&#160;</TD><TD STYLE="font-size: 12pt; text-align: right">&#160;</TD><TD STYLE="font-size: 12pt; text-align: left">&#160;</TD></TR>
  <TR STYLE="vertical-align: bottom; background-color: White">
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    <TD STYLE="width: 1%; text-align: left">$</TD><TD ID="xdx_98A_eus-gaap--OperatingLeaseCost_c20240101__20241231__us-gaap--MajorPropertyClassAxis__custom--PropertyAvailableForMasterLeaseMember_pp0p0" TITLE="Operating lease cost" STYLE="width: 14%; text-align: right">3,900</TD><TD STYLE="width: 1%; text-align: left">&#160;</TD><TD STYLE="width: 1%">&#160;</TD>
    <TD STYLE="width: 1%; text-align: left">$</TD><TD ID="xdx_988_eus-gaap--OperatingLeaseCost_c20230101__20231231__us-gaap--MajorPropertyClassAxis__custom--PropertyAvailableForMasterLeaseMember_pp0p0" TITLE="Operating lease cost" STYLE="width: 14%; text-align: right">&#8212;</TD><TD STYLE="width: 1%; text-align: left">&#160;</TD></TR>
  <TR STYLE="vertical-align: bottom; background-color: rgb(204,238,255)">
    <TD STYLE="text-align: left">Short-term lease cost</TD><TD>&#160;</TD>
    <TD STYLE="text-align: left">$</TD><TD ID="xdx_98B_eus-gaap--ShortTermLeaseCost_c20240101__20241231__us-gaap--MajorPropertyClassAxis__custom--PropertyAvailableForMasterLeaseMember_pp0p0" TITLE="Short-term lease cost" STYLE="text-align: right">367,451</TD><TD STYLE="text-align: left">&#160;</TD><TD>&#160;</TD>
    <TD STYLE="text-align: left">$</TD><TD ID="xdx_989_eus-gaap--ShortTermLeaseCost_c20230101__20231231__us-gaap--MajorPropertyClassAxis__custom--PropertyAvailableForMasterLeaseMember_pp0p0" TITLE="Short-term lease cost" STYLE="text-align: right">&#8212;</TD><TD STYLE="text-align: left">&#160;</TD></TR>
  <TR STYLE="vertical-align: bottom; background-color: White">
    <TD STYLE="font-size: 12pt">&#160;</TD><TD STYLE="font-size: 12pt">&#160;</TD>
    <TD STYLE="font-size: 12pt; text-align: left">&#160;</TD><TD STYLE="font-size: 12pt; text-align: right">&#160;</TD><TD STYLE="font-size: 12pt; text-align: left">&#160;</TD><TD STYLE="font-size: 12pt">&#160;</TD>
    <TD STYLE="font-size: 12pt; text-align: left">&#160;</TD><TD STYLE="font-size: 12pt; text-align: right">&#160;</TD><TD STYLE="font-size: 12pt; text-align: left">&#160;</TD></TR>
  <TR STYLE="vertical-align: bottom; background-color: rgb(204,238,255)">
    <TD STYLE="font-weight: bold; text-align: left">Other information:</TD><TD STYLE="font-size: 12pt">&#160;</TD>
    <TD STYLE="font-size: 12pt; text-align: left">&#160;</TD><TD STYLE="font-size: 12pt; text-align: right">&#160;</TD><TD STYLE="font-size: 12pt; text-align: left">&#160;</TD><TD STYLE="font-size: 12pt">&#160;</TD>
    <TD STYLE="font-size: 12pt; text-align: left">&#160;</TD><TD STYLE="font-size: 12pt; text-align: right">&#160;</TD><TD STYLE="font-size: 12pt; text-align: left">&#160;</TD></TR>
  <TR STYLE="vertical-align: bottom; background-color: White">
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  <TR STYLE="vertical-align: bottom; background-color: rgb(204,238,255)">
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  <TR STYLE="vertical-align: bottom; background-color: White">
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  </TABLE>


<P ID="xdx_8A0_z75NPhLYtnI4" STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify">&#160;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify">At December 31, 2024, future minimum lease payments
due under the MLA are as follows:</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify"></P>

<TABLE CELLPADDING="0" CELLSPACING="0" ID="xdx_893_eus-gaap--LesseeOperatingLeaseLiabilityMaturityTableTextBlock_hus-gaap--MajorPropertyClassAxis__custom--MasterLeaseAgreementMember_zQTdLfDdTn29" SUMMARY="xdx: Disclosure - COMMITMENTS AND CONTINGENCIES (Details - Future minimum lease payments)" STYLE="font: 8pt Arial, Helvetica, Sans-Serif; border-collapse: collapse; width: 100%">
  <TR STYLE="vertical-align: bottom">
    <TD ID="xdx_8B6_zdPYTODsJoii" STYLE="display: none">Schedule of future minimum lease payments due under the operating lease</TD><TD>&#160;</TD>
    <TD COLSPAN="2" STYLE="text-align: center">&#160;</TD><TD>&#160;</TD></TR>
  <TR STYLE="vertical-align: bottom">
    <TD>&#160;</TD><TD STYLE="font: bold 8pt Times New Roman, Times, Serif; padding-bottom: 1pt">&#160;</TD>
    <TD COLSPAN="2" STYLE="border-bottom: Black 1pt solid; font: bold 8pt Times New Roman, Times, Serif; text-align: center">Amount</TD><TD STYLE="font: bold 8pt Times New Roman, Times, Serif; padding-bottom: 1pt">&#160;</TD></TR>
  <TR STYLE="vertical-align: bottom; background-color: rgb(204,238,255)">
    <TD STYLE="font: bold 10pt Times New Roman, Times, Serif; text-align: justify">Calendar year:</TD><TD>&#160;</TD>
    <TD STYLE="text-align: left">&#160;</TD><TD STYLE="text-align: right">&#160;</TD><TD STYLE="text-align: left">&#160;</TD></TR>
  <TR STYLE="vertical-align: bottom; background-color: White">
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    <TD STYLE="font: 10pt Times New Roman, Times, Serif; width: 1%; text-align: left">$</TD><TD ID="xdx_987_eus-gaap--LesseeOperatingLeaseLiabilityPaymentsRemainderOfFiscalYear_c20241231__us-gaap--MajorPropertyClassAxis__custom--PropertyAvailableForMasterLeaseMember_pp0p0" TITLE="2025" STYLE="font: 10pt Times New Roman, Times, Serif; width: 14%; text-align: right">367,451</TD><TD STYLE="font: 10pt Times New Roman, Times, Serif; width: 1%; text-align: left">&#160;</TD></TR>
  <TR STYLE="vertical-align: bottom; background-color: rgb(204,238,255)">
    <TD STYLE="font: 10pt Times New Roman, Times, Serif; text-align: justify; text-indent: 10pt">2026</TD><TD STYLE="font: 10pt Times New Roman, Times, Serif">&#160;</TD>
    <TD STYLE="font: 10pt Times New Roman, Times, Serif; text-align: left">&#160;</TD><TD ID="xdx_98C_eus-gaap--LesseeOperatingLeaseLiabilityPaymentsDueNextTwelveMonths_c20241231__us-gaap--MajorPropertyClassAxis__custom--PropertyAvailableForMasterLeaseMember_pp0p0" TITLE="2026" STYLE="font: 10pt Times New Roman, Times, Serif; text-align: right">527,777</TD><TD STYLE="font: 10pt Times New Roman, Times, Serif; text-align: left">&#160;</TD></TR>
  <TR STYLE="vertical-align: bottom; background-color: White">
    <TD STYLE="font: 10pt Times New Roman, Times, Serif; text-align: justify; text-indent: 10pt">2027</TD><TD STYLE="font: 10pt Times New Roman, Times, Serif">&#160;</TD>
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  <TR STYLE="vertical-align: bottom; background-color: rgb(204,238,255)">
    <TD STYLE="font: 10pt Times New Roman, Times, Serif; text-align: justify; text-indent: 10pt">2028</TD><TD STYLE="font: 10pt Times New Roman, Times, Serif">&#160;</TD>
    <TD STYLE="font: 10pt Times New Roman, Times, Serif; text-align: left">&#160;</TD><TD ID="xdx_983_eus-gaap--LesseeOperatingLeaseLiabilityPaymentsDueYearThree_c20241231__us-gaap--MajorPropertyClassAxis__custom--PropertyAvailableForMasterLeaseMember_pp0p0" TITLE="2028" STYLE="font: 10pt Times New Roman, Times, Serif; text-align: right">527,777</TD><TD STYLE="font: 10pt Times New Roman, Times, Serif; text-align: left">&#160;</TD></TR>
  <TR STYLE="vertical-align: bottom; background-color: White">
    <TD STYLE="font: 10pt Times New Roman, Times, Serif; text-align: justify; padding-bottom: 1pt">&#160;&#160;&#160;Thereafter</TD><TD STYLE="font: 10pt Times New Roman, Times, Serif; padding-bottom: 1pt">&#160;</TD>
    <TD STYLE="border-bottom: Black 1pt solid; font: 10pt Times New Roman, Times, Serif; text-align: left">&#160;</TD><TD ID="xdx_98C_eus-gaap--LesseeOperatingLeaseLiabilityPaymentsDueAfterYearFive_c20241231__us-gaap--MajorPropertyClassAxis__custom--PropertyAvailableForMasterLeaseMember_pp0p0" TITLE="Thereafter" STYLE="border-bottom: Black 1pt solid; font: 10pt Times New Roman, Times, Serif; text-align: right">703,702</TD><TD STYLE="font: 10pt Times New Roman, Times, Serif; padding-bottom: 1pt; text-align: left">&#160;</TD></TR>
  <TR STYLE="vertical-align: bottom; background-color: rgb(204,238,255)">
    <TD STYLE="font: 10pt Times New Roman, Times, Serif; text-align: justify">&#160;&#160;&#160;&#160;&#160;&#160;Total undiscounted future minimum lease payments</TD><TD STYLE="font: 10pt Times New Roman, Times, Serif">&#160;</TD>
    <TD STYLE="font: 10pt Times New Roman, Times, Serif; text-align: left">&#160;</TD><TD ID="xdx_984_eus-gaap--LesseeOperatingLeaseLiabilityPaymentsDue_c20241231__us-gaap--MajorPropertyClassAxis__custom--PropertyAvailableForMasterLeaseMember_pp0p0" TITLE="Total undiscounted future minimum lease payments" STYLE="font: 10pt Times New Roman, Times, Serif; text-align: right">2,654,484</TD><TD STYLE="font: 10pt Times New Roman, Times, Serif; text-align: left">&#160;</TD></TR>
  <TR STYLE="vertical-align: bottom; background-color: White">
    <TD STYLE="font: 10pt Times New Roman, Times, Serif; text-align: justify; padding-bottom: 1pt">Less: Impact of discounting</TD><TD STYLE="font: 10pt Times New Roman, Times, Serif; padding-bottom: 1pt">&#160;</TD>
    <TD STYLE="border-bottom: Black 1pt solid; font: 10pt Times New Roman, Times, Serif; text-align: left">&#160;</TD><TD ID="xdx_987_eus-gaap--LesseeOperatingLeaseLiabilityUndiscountedExcessAmount_iNI_pp0p0_di_c20241231__us-gaap--MajorPropertyClassAxis__custom--PropertyAvailableForMasterLeaseMember_zfOv1VEIlEV5" TITLE="Less: Impact of discounting" STYLE="border-bottom: Black 1pt solid; font: 10pt Times New Roman, Times, Serif; text-align: right">(562,429</TD><TD STYLE="font: 10pt Times New Roman, Times, Serif; padding-bottom: 1pt; text-align: left">)</TD></TR>
  <TR STYLE="vertical-align: bottom; background-color: rgb(204,238,255)">
    <TD STYLE="font: 10pt Times New Roman, Times, Serif; text-align: justify">Total present value of MLA obligation</TD><TD STYLE="font: 10pt Times New Roman, Times, Serif">&#160;</TD>
    <TD STYLE="font: 10pt Times New Roman, Times, Serif; text-align: left">&#160;</TD><TD ID="xdx_983_eus-gaap--OperatingLeaseLiability_c20241231__us-gaap--MajorPropertyClassAxis__custom--PropertyAvailableForMasterLeaseMember_pp0p0" TITLE="Total present value of operating lease obligations" STYLE="font: 10pt Times New Roman, Times, Serif; text-align: right">2,092,057</TD><TD STYLE="font: 10pt Times New Roman, Times, Serif; text-align: left">&#160;</TD></TR>
  <TR STYLE="vertical-align: bottom; background-color: White">
    <TD STYLE="font: 10pt Times New Roman, Times, Serif; text-align: justify; padding-bottom: 1pt">&#160;&#160;&#160;&#160;&#160;&#160;Current portion</TD><TD STYLE="font: 10pt Times New Roman, Times, Serif; padding-bottom: 1pt">&#160;</TD>
    <TD STYLE="border-bottom: Black 1pt solid; font: 10pt Times New Roman, Times, Serif; text-align: left">&#160;</TD><TD ID="xdx_98F_eus-gaap--OperatingLeaseLiabilityCurrent_iNI_pp0p0_di_c20241231__us-gaap--MajorPropertyClassAxis__custom--PropertyAvailableForMasterLeaseMember_z4GUTvyZwAt" TITLE="Current portion, operating lease obligation" STYLE="border-bottom: Black 1pt solid; font: 10pt Times New Roman, Times, Serif; text-align: right">(367,451</TD><TD STYLE="font: 10pt Times New Roman, Times, Serif; padding-bottom: 1pt; text-align: left">)</TD></TR>
  <TR STYLE="vertical-align: bottom; background-color: rgb(204,238,255)">
    <TD STYLE="font: 10pt Times New Roman, Times, Serif; text-align: justify; padding-bottom: 2.5pt">MLA, less current portion</TD><TD STYLE="font: 10pt Times New Roman, Times, Serif; padding-bottom: 2.5pt">&#160;</TD>
    <TD STYLE="border-bottom: Black 2.5pt double; font: 10pt Times New Roman, Times, Serif; text-align: left">$</TD><TD ID="xdx_98F_eus-gaap--OperatingLeaseLiabilityNoncurrent_c20241231__us-gaap--MajorPropertyClassAxis__custom--PropertyAvailableForMasterLeaseMember_pp0p0" TITLE="Operating lease obligations, less current portion" STYLE="border-bottom: Black 2.5pt double; font: 10pt Times New Roman, Times, Serif; text-align: right">1,724,604</TD><TD STYLE="font: 10pt Times New Roman, Times, Serif; padding-bottom: 2.5pt; text-align: left">&#160;</TD></TR>
  </TABLE>


<P ID="xdx_8AE_zyWsXSmzZ93c" STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify">&#160;&#160;</P>
<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0"><B></B></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0"></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0"><B>Executive Severance Agreement</B></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0">&#160;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0 0 8pt; text-align: justify">Pursuant to a separation agreement with Gianni
Arcaini, our former Chief Executive Officer and Chairman of the Board (the &#8220;Separation Agreement&#8221;), Mr. Arcaini&#8217;s employment
with the Company ended on September 1, 2020 (&#8220;Separation Date&#8221;). The Separation Agreement provided that he would receive separation
payments over a 36- month period equal to his base salary plus $<FONT ID="xdx_908_ecustom--BaseSalary_c20210830__20210901__us-gaap--TypeOfArrangementAxis__custom--ExecutiveSeveranceAgreementMember__srt--CounterpartyNameAxis__custom--ArcainiMember_pp0p0" TITLE="Base Salary">75,000</FONT> as well as certain limited health and life insurance benefits.
The Separation Agreement also contained confidentiality, non-disparagement and non-solicitation covenants and a release of claims by Mr.
Arcaini. In accordance with the Separation Agreement, the Company paid to Mr. Arcaini the total sum of $747,788. On March 1, 2021, the
Company paid to Mr. Arcaini a lump-sum amount equal to the first six months of payments, or $124,631, owed to Mr. Arcaini and the Company
continued to pay him in semi-monthly installments for 30 months thereafter, as contemplated in Mr. Arcaini&#8217;s Separation Agreement.
On November 21, 2024, the Company paid Mr. Arcaini a further $23,890 to settle a dispute concerning certain benefits that were claimed
by him as part of the separation agreement. As a condition of this payment, Mr. Arcaini forfeited all of his equity in the Company consisting
of <FONT ID="xdx_908_eus-gaap--SharebasedCompensationArrangementBySharebasedPaymentAwardOptionsNonvestedOptionsForfeitedNumberOfShares_c20241101__20241121__us-gaap--PlanNameAxis__custom--N2016EquityIncentivePlanMember__us-gaap--TypeOfArrangementAxis__custom--ExecutiveSeveranceAgreementMember__srt--CounterpartyNameAxis__custom--ArcainiMember_pdd" TITLE="Option forfeited">100,716</FONT> non-qualified stock options granted under the 2016 Equity Incentive Plan.</P>

<P ID="xdx_230_zTUohyOEaykl" STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify"></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify">&#160;</P>


<!-- Field: Page; Sequence: 109 -->
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    <!-- Field: /Page -->


<P ID="xdx_23E_ziUcdb8MnsQb" STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0">&#160;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0"></P>

<P ID="xdx_804_eus-gaap--IncomeTaxDisclosureTextBlock_zgzWqQGfip2f" STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify"><B>NOTE 13 &#8211; <FONT ID="xdx_82F_zGegVOJy1bM9">INCOME TAXES</FONT></B></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify">&#160;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify">The Company maintains deferred tax assets and liabilities
that reflect the net tax effects of temporary differences between the carrying amounts of assets and liabilities for financial reporting
purposes and the amounts used for income tax purposes. The deferred tax assets (liabilities) at December 31, 2024 and 2023 consist of
net operating loss carryforwards and differences in the book basis and tax basis of intangible assets.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify; text-indent: 0.5in">&#160;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify">The items accounting for the difference between income
taxes at the effective statutory rate and the provision for income taxes for the years ended December 31, 2024 and 2023 were as follows:</P>

<TABLE CELLPADDING="0" CELLSPACING="0" ID="xdx_895_eus-gaap--ScheduleOfEffectiveIncomeTaxRateReconciliationTableTextBlock_zyDe9CDygFUh" SUMMARY="xdx: Disclosure - INCOME TAXES (Details - Provision for income taxes)" STYLE="font: 8pt Arial, Helvetica, Sans-Serif; border-collapse: collapse; width: 100%">
  <TR STYLE="vertical-align: bottom">
    <TD ID="xdx_8BE_zKzccVIqBvff" STYLE="display: none">Schedule of difference between income taxes at effective statutory rate and provision for income taxes</TD><TD>&#160;</TD>
    <TD COLSPAN="2" ID="xdx_490_20240101__20241231_zipcS8mpnRN3" STYLE="text-align: center">&#160;</TD><TD>&#160;</TD><TD>&#160;</TD>
    <TD COLSPAN="2" ID="xdx_495_20230101__20231231_zZYCll8wlI49" STYLE="text-align: center">&#160;</TD><TD>&#160;</TD></TR>
  <TR STYLE="vertical-align: bottom">
    <TD STYLE="text-align: justify">&#160;</TD><TD STYLE="font: bold 8pt Times New Roman, Times, Serif; padding-bottom: 1pt">&#160;</TD>
    <TD COLSPAN="6" STYLE="border-bottom: Black 1pt solid; font: bold 8pt Times New Roman, Times, Serif; text-align: center">Years Ended December 31,</TD><TD STYLE="font: bold 8pt Times New Roman, Times, Serif; padding-bottom: 1pt">&#160;</TD></TR>
  <TR STYLE="vertical-align: bottom">
    <TD STYLE="text-align: justify">&#160;</TD><TD STYLE="font: bold 8pt Times New Roman, Times, Serif; padding-bottom: 1pt">&#160;</TD>
    <TD COLSPAN="2" STYLE="border-bottom: Black 1pt solid; font: bold 8pt Times New Roman, Times, Serif; text-align: center">2024</TD><TD STYLE="font: bold 8pt Times New Roman, Times, Serif; padding-bottom: 1pt">&#160;</TD><TD STYLE="font: bold 8pt Times New Roman, Times, Serif; padding-bottom: 1pt">&#160;</TD>
    <TD COLSPAN="2" STYLE="border-bottom: Black 1pt solid; font: bold 8pt Times New Roman, Times, Serif; text-align: center">2023</TD><TD STYLE="font: bold 8pt Times New Roman, Times, Serif; padding-bottom: 1pt">&#160;</TD></TR>
  <TR ID="xdx_406_eus-gaap--IncomeTaxReconciliationIncomeTaxExpenseBenefitAtFederalStatutoryIncomeTaxRate_maITEBzmPg_zXDK8d0Psv3a" STYLE="vertical-align: bottom; background-color: rgb(204,238,255)">
    <TD STYLE="font: 10pt Times New Roman, Times, Serif; width: 66%; text-align: justify">Income tax benefit at U.S. statutory rate of 21%</TD><TD STYLE="font: 10pt Times New Roman, Times, Serif; width: 1%">&#160;</TD>
    <TD STYLE="font: 10pt Times New Roman, Times, Serif; width: 1%; text-align: left">$</TD><TD STYLE="font: 10pt Times New Roman, Times, Serif; width: 14%; text-align: right">(2,260,536</TD><TD STYLE="font: 10pt Times New Roman, Times, Serif; width: 1%; text-align: left">)</TD><TD STYLE="font: 10pt Times New Roman, Times, Serif; width: 1%">&#160;</TD>
    <TD STYLE="font: 10pt Times New Roman, Times, Serif; width: 1%; text-align: left">$</TD><TD STYLE="font: 10pt Times New Roman, Times, Serif; width: 14%; text-align: right">(2,360,761</TD><TD STYLE="font: 10pt Times New Roman, Times, Serif; width: 1%; text-align: left">)</TD></TR>
  <TR ID="xdx_40E_eus-gaap--IncomeTaxReconciliationStateAndLocalIncomeTaxes_maITEBzmPg_z1MoSQ6zzknj" STYLE="vertical-align: bottom; background-color: White">
    <TD STYLE="font: 10pt Times New Roman, Times, Serif; text-align: justify">State income taxes</TD><TD STYLE="font: 10pt Times New Roman, Times, Serif">&#160;</TD>
    <TD STYLE="font: 10pt Times New Roman, Times, Serif; text-align: left">&#160;</TD><TD STYLE="font: 10pt Times New Roman, Times, Serif; text-align: right">(387,520</TD><TD STYLE="font: 10pt Times New Roman, Times, Serif; text-align: left">)</TD><TD STYLE="font: 10pt Times New Roman, Times, Serif">&#160;</TD>
    <TD STYLE="font: 10pt Times New Roman, Times, Serif; text-align: left">&#160;</TD><TD STYLE="font: 10pt Times New Roman, Times, Serif; text-align: right">(404,702</TD><TD STYLE="font: 10pt Times New Roman, Times, Serif; text-align: left">)</TD></TR>
  <TR ID="xdx_408_eus-gaap--IncomeTaxReconciliationNondeductibleExpense_maITEBzmPg_zMpKSS2VlqF5" STYLE="vertical-align: bottom; background-color: rgb(204,238,255)">
    <TD STYLE="font: 10pt Times New Roman, Times, Serif; text-align: justify">Non-deductible expenses</TD><TD STYLE="font: 10pt Times New Roman, Times, Serif">&#160;</TD>
    <TD STYLE="font: 10pt Times New Roman, Times, Serif; text-align: left">&#160;</TD><TD STYLE="font: 10pt Times New Roman, Times, Serif; text-align: right">164,156</TD><TD STYLE="font: 10pt Times New Roman, Times, Serif; text-align: left">&#160;</TD><TD STYLE="font: 10pt Times New Roman, Times, Serif">&#160;</TD>
    <TD STYLE="font: 10pt Times New Roman, Times, Serif; text-align: left">&#160;</TD><TD STYLE="font: 10pt Times New Roman, Times, Serif; text-align: right">271,648</TD><TD STYLE="font: 10pt Times New Roman, Times, Serif; text-align: left">&#160;</TD></TR>
  <TR ID="xdx_40A_eus-gaap--IncomeTaxReconciliationChangeInDeferredTaxAssetsValuationAllowance_maITEBzmPg_zSP6ZrkIW5hk" STYLE="vertical-align: bottom; background-color: White">
    <TD STYLE="font: 10pt Times New Roman, Times, Serif; text-align: justify; padding-bottom: 1pt">Change in valuation allowance</TD><TD STYLE="font: 10pt Times New Roman, Times, Serif; padding-bottom: 1pt">&#160;</TD>
    <TD STYLE="border-bottom: Black 1pt solid; font: 10pt Times New Roman, Times, Serif; text-align: left">&#160;</TD><TD STYLE="border-bottom: Black 1pt solid; font: 10pt Times New Roman, Times, Serif; text-align: right">2,483,901</TD><TD STYLE="font: 10pt Times New Roman, Times, Serif; padding-bottom: 1pt; text-align: left">&#160;</TD><TD STYLE="font: 10pt Times New Roman, Times, Serif; padding-bottom: 1pt">&#160;</TD>
    <TD STYLE="border-bottom: Black 1pt solid; font: 10pt Times New Roman, Times, Serif; text-align: left">&#160;</TD><TD STYLE="border-bottom: Black 1pt solid; font: 10pt Times New Roman, Times, Serif; text-align: right">2,493,815</TD><TD STYLE="font: 10pt Times New Roman, Times, Serif; padding-bottom: 1pt; text-align: left">&#160;</TD></TR>
  <TR ID="xdx_40E_eus-gaap--IncomeTaxExpenseBenefit_iT_pp0p0_mtITEBzmPg_z7kdEMf2eRsb" STYLE="vertical-align: bottom; background-color: rgb(204,238,255)">
    <TD STYLE="font: 10pt Times New Roman, Times, Serif; text-align: justify; padding-bottom: 2.5pt">Total provision for income tax</TD><TD STYLE="font: 10pt Times New Roman, Times, Serif; padding-bottom: 2.5pt">&#160;</TD>
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<P ID="xdx_8AA_zcx1yP1OUWb6" STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify">&#160;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify"></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify">The Company&#8217;s approximate net deferred tax assets
as of December 31, 2024 and 2023 were as follows:</P>

<TABLE CELLPADDING="0" CELLSPACING="0" ID="xdx_88A_eus-gaap--ScheduleOfDeferredTaxAssetsAndLiabilitiesTableTextBlock_zQBV9xnbyTI2" SUMMARY="xdx: Disclosure - INCOME TAXES (Details - Deferred tax assets)" STYLE="font: 8pt Arial, Helvetica, Sans-Serif; border-collapse: collapse; width: 100%">
  <TR STYLE="vertical-align: bottom">
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    <TD COLSPAN="2" ID="xdx_49E_20231231_zlKJR9OkeYKc" STYLE="text-align: justify">&#160;</TD><TD>&#160;</TD></TR>
  <TR STYLE="vertical-align: bottom">
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  <TR STYLE="vertical-align: bottom">
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  <TR ID="xdx_401_eus-gaap--DeferredTaxAssetsOperatingLossCarryforwards_iI_pp0p0" STYLE="vertical-align: bottom; background-color: White">
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  <TR ID="xdx_40C_eus-gaap--DeferredTaxAssetsGoodwillAndIntangibleAssets_iI_pp0p0" STYLE="vertical-align: bottom; background-color: rgb(204,238,255)">
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  <TR ID="xdx_406_ecustom--DeferredTaxAssetsAllowanceForBadDebt_iI_pp0p0_zwSLYcmqfKE8" STYLE="vertical-align: bottom; background-color: White">
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  <TR ID="xdx_406_eus-gaap--DeferredTaxAssetsGross_iI_pp0p0" STYLE="vertical-align: bottom; background-color: rgb(204,238,255)">
    <TD STYLE="color: rgb(204,238,255); text-align: justify">Gross deferred tax assets</TD><TD STYLE="font: 10pt Times New Roman, Times, Serif">&#160;</TD>
    <TD STYLE="font: 10pt Times New Roman, Times, Serif; text-align: left">&#160;</TD><TD STYLE="font: 10pt Times New Roman, Times, Serif; text-align: right">14,717,913</TD><TD STYLE="font: 10pt Times New Roman, Times, Serif; text-align: left">&#160;</TD><TD STYLE="font: 10pt Times New Roman, Times, Serif">&#160;</TD>
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  <TR ID="xdx_409_eus-gaap--DeferredTaxAssetsValuationAllowance_iNI_pp0p0_di_zUR3pAWRf0H7" STYLE="vertical-align: bottom; background-color: White">
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  <TR ID="xdx_40F_eus-gaap--DeferredTaxAssetsNet_iI_pp0p0" STYLE="vertical-align: bottom; background-color: rgb(204,238,255)">
    <TD STYLE="font: 10pt Times New Roman, Times, Serif; text-align: justify; padding-bottom: 2.5pt">Net deferred tax assets</TD><TD STYLE="font: 10pt Times New Roman, Times, Serif; padding-bottom: 2.5pt">&#160;</TD>
    <TD STYLE="border-bottom: Black 2.5pt double; font: 10pt Times New Roman, Times, Serif; text-align: left">$</TD><TD STYLE="border-bottom: Black 2.5pt double; font: 10pt Times New Roman, Times, Serif; text-align: right">&#8212;</TD><TD STYLE="font: 10pt Times New Roman, Times, Serif; padding-bottom: 2.5pt; text-align: left">&#160;</TD><TD STYLE="font: 10pt Times New Roman, Times, Serif; padding-bottom: 2.5pt">&#160;</TD>
    <TD STYLE="border-bottom: Black 2.5pt double; font: 10pt Times New Roman, Times, Serif; text-align: left">$</TD><TD STYLE="border-bottom: Black 2.5pt double; font: 10pt Times New Roman, Times, Serif; text-align: right">&#8212;</TD><TD STYLE="font: 10pt Times New Roman, Times, Serif; padding-bottom: 2.5pt; text-align: left">&#160;</TD></TR>
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<P ID="xdx_8AE_zrah8ScgWjT4" STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify">&#160;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify">The gross operating loss carryforward was
approximately $<FONT ID="xdx_90A_eus-gaap--OperatingLossCarryforwards_c20241231_pp0p0" TITLE="Gross operating loss carry forward">62,249,209 </FONT>
and $<FONT ID="xdx_90B_eus-gaap--OperatingLossCarryforwards_c20231231_pp0p0" TITLE="Gross operating loss carry forward">50,076,569</FONT>
at December 31, 2024 and 2023, respectively. The Company provided a valuation allowance equal to the net deferred income tax assets
for the years ended December 31, 2024, and 2023 because it was not known whether future taxable income will be sufficient to utilize
the loss carryforward and other deferred tax assets. The increase in the valuation allowance was $<FONT ID="xdx_905_eus-gaap--ValuationAllowanceDeferredTaxAssetChangeInAmount_c20240101__20241231_pp0p0" TITLE="Increase in valuation allowance">2,483,900</FONT>
in 2024.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify; text-indent: 0.5in">&#160;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify">The potential tax benefit arising from the net operating
loss carryforward of $<FONT ID="xdx_907_eus-gaap--TaxCreditCarryforwardAmount_c20241231_pp0p0" TITLE="Net operating loss carryforward">4,357,876</FONT> from the period prior to January 1, 2018, will expire in 2037. The potential tax benefit arising from
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usage limitations.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify">&#160;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify">Additionally, the future utilization of the net operating
loss carryforward to offset future taxable income is subject to an annual limitation as a result of ownership or business changes that
may occur in the future. The Company has not conducted a study to determine the limitations on the utilization of these net operating
loss carryforwards. If necessary, the deferred tax assets will be reduced by any carryforward that may not be utilized or expires prior
to utilization as a result of such limitations, with a corresponding reduction of the valuation allowance.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify; text-indent: 0.2in">&#160;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify">The Company does not have any uncertain tax positions
or events leading to uncertainty in a tax position. The Company&#8217;s 2023, 2022 and 2021 Corporate Income Tax Returns are subject to
Internal Revenue Service examination.</P>

<P ID="xdx_23A_zTS36cDRKYea" STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify">&#160;</P>


<P ID="xdx_233_z7cUBQHGzqx2" STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify; text-indent: 0.2in">&#160;</P>


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    <!-- Field: /Page -->


<P ID="xdx_233_zpfjMeBOiNa6" STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0">&#160;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0"></P>

<P ID="xdx_804_eus-gaap--StockholdersEquityNoteDisclosureTextBlock_zTpouWBt49oi" STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify"><B>NOTE 14 &#8211; <FONT ID="xdx_821_zKpPm7L4Iz0b">STOCKHOLDERS&#8217; EQUITY </FONT></B></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify"><B>&#160;</B></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0"><B>2016 Equity Plan</B></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0">&#160;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify">We maintained the 2016 Equity Incentive Plan (the
&#8220;2016 Plan&#8221;) for employees, officers, directors and other entities and individuals whose efforts contribute to our success.
The 2016 Plan terminated pursuant to its terms on December 31, 2020, although all outstanding awards on such date continue in full force
and effect.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify"><B>&#160;</B></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify"><B>2021 Equity Plan</B></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify">&#160;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify">On May 12, 2021, the Board adopted, with shareholder
approval as of July 15, 2021, the 2021 Equity Incentive Plan (the &#8220;2021 Plan&#8221;) providing for the issuance of up to <FONT ID="xdx_90F_eus-gaap--ShareBasedCompensationArrangementByShareBasedPaymentAwardEquityInstrumentsOtherThanOptionsGrantsInPeriod_c20210501__20210512__us-gaap--PlanNameAxis__custom--N2016EquityIncentivePlanMember_pdd" TITLE="Issuance of Common stock under Awards">1,000,000</FONT>
shares of our Common Stock. On September 30, 2024, the shareholders approved an increase in the shares of Common Stock available under
the 2021 Plan to <FONT ID="xdx_90D_eus-gaap--ShareBasedCompensationArrangementByShareBasedPaymentAwardEquityInstrumentsOtherThanOptionsGrantsInPeriod_c20240902__20240930__us-gaap--PlanNameAxis__custom--N2021EquityIncentivePlanMember_z5pOKKrmZOAc" TITLE="Issuance of Common stock under Awards">2,500,000</FONT> and beginning as of February 1, 2025, and for each February 1<SUP>st</SUP> thereafter to the greater of 2,500,000
or a number of shares based on a formula tied to the Company&#8217;s fully diluted common equivalent share capitalization, excluding warrants
and options. The purpose of the 2021 Plan is to assist the Company in attracting and retaining key employees, directors and consultants
and to provide incentives to such individuals to align their interests with those of our shareholders.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify"><B>&#160;</B></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify"><B>General Description of the 2021 Plan</B></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0">&#160;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify">The following is a summary of the material provisions
of the 2021 Plan and is qualified in its entirety by reference to the complete text of the 2021 Plan, which you are encouraged to read
in full.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0">&#160;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify"><B><I>Administration</I></B></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify"><B><I>&#160;</I></B></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify">The 2021 Plan is administered by the Compensation
Committee of the Board, which consists of three members of the Board, each of whom is a &#8220;non-employee director&#8221; within the
meaning of Rule 16b-3 promulgated under the Exchange Act and an &#8220;outside director&#8221; within the meaning of Code Section 162(m).
Among other things, the Compensation Committee has complete discretion, subject to the express limits of the 2021 Plan, to determine the
directors, employees and nonemployee consultants to be granted an award, the type of award to be granted, the terms and conditions of
the award, the form of payment to be made and/or the number of shares of Common Stock subject to each award, the exercise price of each
option and base price of each stock appreciation right (&#8220;SAR&#8221;), the term of each award, the vesting schedule for an award,
whether to accelerate vesting, the value of the Common Stock underlying the award, and the required withholding, if any. The Compensation
Committee may amend, modify or terminate any outstanding award, provided that the participant&#8217;s consent to such action is required
if the action would impair the participant&#8217;s rights or entitlements with respect to that award. The Compensation Committee is also
authorized to construe the award agreements and may prescribe rules relating to the 2021 Plan. Notwithstanding the foregoing, the Compensation
Committee does not have any authority to grant or modify an award under the 2021 Plan with terms or conditions that would cause the grant,
vesting or exercise thereof to be considered nonqualified &#8220;deferred compensation&#8221; subject to Code Section 409A.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-indent: 15pt"><I>&#160;</I></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify"><B><I>Grant of Awards; Shares Available for Awards</I></B></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify"><B><I>&#160;</I></B></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify">The 2021 Plan provides for the grant of stock options,
SARs, performance share awards, performance unit awards, distribution equivalent right awards, restricted stock awards, restricted stock
unit awards and unrestricted stock awards to non-employee directors, officers, employees and nonemployee consultants of the Company or
its affiliates. We had reserved a total of <FONT ID="xdx_90F_eus-gaap--ShareBasedCompensationArrangementByShareBasedPaymentAwardNumberOfSharesAvailableForGrant_c20241231__us-gaap--PlanNameAxis__custom--N2021EquityIncentivePlanMember_pdd" TITLE="Shares available for grant">1,000,000</FONT> shares of Common Stock for issuance as or under awards to be made under the 2021
Plan. In accordance with shareholder approval received at the meeting held on September 30, 2024, the total reserved shares as of February
1, 2025 amount to <FONT ID="xdx_908_eus-gaap--ShareBasedCompensationArrangementByShareBasedPaymentAwardNumberOfSharesAvailableForGrant_iI_c20250202__us-gaap--PlanNameAxis__custom--N2021EquityIncentivePlanMember_z5UcR9JkwP2b" TITLE="Shares available for grant">2,905,334</FONT>, calculated using a formula based on the Company&#8217;s fully diluted common equivalent share capitalization,
excluding warrants and options. If any award expires, is cancelled, or terminates unexercised or is forfeited, the number of shares subject
thereto is again available for grant under the 2021 Plan.</P>

<P ID="xdx_239_zWwgSzuFY4q1" STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-indent: 15pt">&#160;</P>

<P ID="xdx_23C_zIaVMYKXWZG4" STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify">&#160;</P>


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    <DIV STYLE="break-before: page; margin-top: 6pt"><TABLE CELLPADDING="0" CELLSPACING="0" STYLE="width: 100%"><TR><TD STYLE="text-align: center; width: 100%"><P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: center"><B>DUOS TECHNOLOGIES GROUP, INC. AND SUBSIDIARIES</B></P><P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: center"><B>NOTES TO CONSOLIDATED FINANCIAL STATEMENTS</B></P><P STYLE="font: 10pt/115% Times New Roman, Times, Serif; margin: 0 0 8pt; text-align: center"><B>DECEMBER 31, 2024 AND 2023</B></P></TD></TR></TABLE></DIV>
    <!-- Field: /Page -->


<P ID="xdx_23D_zqTxvdrer6Zg" STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0">&#160;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0"></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify"><B><I>Stock Options</I></B></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify">&#160;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify">The 2021 Plan provides for either &#8220;incentive
stock options&#8221; (&#8220;ISOs&#8221;), which are intended to meet the requirements for special federal income tax treatment under
the Code, or &#8220;nonqualified stock options&#8221; (&#8220;NQSOs&#8221;). On May 12, 2021, the 2021 Plan was approved by the board
of directors and by the shareholders on July 15, 2021. Stock options may be granted on such terms and conditions as the Compensation Committee
may determine; provided, however, that the per share exercise price under a stock option may not be less than the fair market value of
a share of the Company&#8217;s Common Stock on the date of grant and the term of the stock option may <FONT ID="xdx_90E_eus-gaap--ShareBasedCompensationArrangementByShareBasedPaymentAwardTermsOfAward_c20240101__20241231__us-gaap--AwardTypeAxis__custom--StockOptionsMember" TITLE="Common stock on the date of grant, term of the stock option">not exceed 10 years</FONT> (110% of such
value and five years in the case of an ISO granted to an employee who owns (or is deemed to own)<FONT ID="xdx_902_eus-gaap--CommonStockVotingRights_c20240101__20241231__us-gaap--AwardTypeAxis__custom--StockOptionsMember" TITLE="Voting rights"> more than 10% of the total combined voting
power of all classes of capital stock</FONT> of the Company or a parent or subsidiary of the Company). ISOs may only be granted to employees.
In addition, the aggregate fair market value of our Common Stock covered by one or more ISOs (determined at the time of grant) which are
exercisable for the first time by an employee during any calendar year may not exceed $<FONT ID="xdx_906_ecustom--AggregateFairMarketValueOfOurCommonStockNotExceed_c20240101__20241231__us-gaap--AwardTypeAxis__custom--StockOptionsMember_pp0p0" TITLE="Aggregate fair market value of common stock">100,000</FONT>. Any excess is treated as a NQSO.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0">&#160;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify"><B><I>Stock Appreciation Rights</I></B></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify"><B><I>&#160;</I></B></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify">An SAR entitles the participant, upon exercise, to
receive an amount, in cash or stock or a combination thereof, equal to the increase in the fair market value of the underlying Common
Stock between the date of grant and the date of exercise. SARs may be granted in tandem with, or independently of, stock options granted
under the 2021 Plan. An SAR granted in tandem with a stock option (i) is exercisable only at such times, and to the extent, that the related
stock option is exercisable in accordance with the procedure for exercise of the related stock option; (ii) terminates upon termination
or exercise of the related stock option (likewise, the Common Stock option granted in tandem with an SAR terminates upon exercise of the
SAR); (iii) is transferable only with the related stock option; and (iv) if the related stock option is an ISO, may be exercised only
when the value of the stock subject to the stock option exceeds the exercise price of the stock option. An SAR that is not granted in
tandem with a stock option is exercisable at such times as the Compensation Committee may specify.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-indent: 15pt"><I>&#160;</I></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify"><B><I>Performance Share and Performance Unit Awards</I></B></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify"><B><I>&#160;</I></B></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify">Performance share and performance unit awards entitle
the participant to receive cash or shares of our Common Stock upon the attainment of specified performance goals. In the case of performance
units, the right to acquire the units is denominated in cash values.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-indent: 15pt"><I>&#160;</I></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify"><B><I>Restricted Stock Awards and Restricted Stock
Unit Awards</I></B></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify"><B><I>&#160;</I></B></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify">A restricted stock award is a grant or sale of Common
Stock to the participant, subject to our right to repurchase all or part of the shares at their purchase price (or to require forfeiture
of such shares if issued to the participant at no cost) in the event that conditions specified by the Compensation Committee in the award
are not satisfied prior to the end of the time period during which the shares subject to the award may be repurchased by or forfeited
to us. Our restricted stock unit entitles the participant to receive a cash payment equal to the fair market value of a share of Common
Stock for each restricted stock unit subject to such restricted stock unit award, if the participant satisfies the applicable vesting
requirement.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-indent: 15pt"><I>&#160;</I></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify"><B><I>Unrestricted Stock Awards</I></B></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify"><B><I>&#160;</I></B></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify">An unrestricted stock award is a grant or sale of
shares of our Common Stock to the participant that is not subject to transfer, forfeiture or other restrictions, in consideration for
past services rendered to the Company or an affiliate or for other valid consideration.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-indent: 15pt"><I>&#160;</I></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify"><B><I>Amendment and Termination</I></B></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify"><B><I>&#160;</I></B></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify">The Compensation Committee may adopt, amend and rescind
rules relating to the administration of the 2021 Plan, and amend, suspend or terminate the 2021 Plan, but no such amendment, rescission,
suspension or termination will be made that materially and adversely impairs the rights of any participant with respect to any award received
thereby under the 2021 Plan without the participant&#8217;s consent, other than amendments that are necessary to permit the granting of
awards in compliance with applicable laws.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify"><B>&#160;</B></P>

<P ID="xdx_236_zlSN2PDRytW8" STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify"><B>&#160;</B></P>


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<P ID="xdx_23F_zN8SbMvECQF9" STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0">&#160;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0"></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify"><B><FONT STYLE="text-decoration: underline">Series B Convertible Preferred Stock</FONT></B></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify"><B>&#160;</B></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify">The following summary of certain terms and provisions
of our Series B Convertible Preferred Stock (the &#8220;Series B Convertible Preferred Stock&#8221;) is subject to, and qualified in its
entirety by reference to, the terms and provisions set forth in our certificate of designation of preferences, rights and limitations
of Series B Convertible Preferred Stock (the &#8220;Series B Convertible Preferred Certificate of Designation&#8221;) as previously filed.
Subject to the limitations prescribed by our articles of incorporation, our board of directors is authorized to establish the number of
shares constituting each series of preferred stock and to fix the designations, powers, preferences, and rights of the shares of each
of those series and the qualifications, limitations and restrictions of each of those series, all without any further vote or action by
our stockholders. Our board of directors designated <FONT ID="xdx_908_ecustom--PreferredStockSharesAvailableToBeDesignated_iI_c20241231__us-gaap--StatementClassOfStockAxis__custom--ConvertibleSeriesBPreferredStockMember_zzJaWbpUfGdi" TITLE="Preferred stock, shares designated">15,000</FONT> of the 10,000,000 authorized shares of preferred stock as Series B Convertible
Preferred Stock with a stated value of $<FONT ID="xdx_908_eus-gaap--PreferredStockParOrStatedValuePerShare_iI_c20241231__us-gaap--StatementClassOfStockAxis__custom--ConvertibleSeriesBPreferredStockMember_zQdlhGVRWjbk" TITLE="Preferred stock, par value"><FONT ID="xdx_90B_eus-gaap--PreferredStockParOrStatedValuePerShare_iI_c20231231__us-gaap--StatementClassOfStockAxis__custom--ConvertibleSeriesBPreferredStockMember_zBixrkBEFRYe" TITLE="Preferred stock, par value">1,000</FONT></FONT> per share. The shares of Series B Convertible Preferred Stock were validly issued, fully
paid and non-assessable.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify">&#160;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify">Each share of Series B Convertible Preferred
Stock was convertible at any time at the holder&#8217;s option into a number of shares of common stock equal to $<FONT ID="xdx_907_eus-gaap--ConversionOfStockAmountConverted1_c20240101__20241231__us-gaap--StatementClassOfStockAxis__custom--ConvertibleSeriesBPreferredStockMember_pp0p0" TITLE="Converted value">1,000</FONT>
divided by the conversion price of $<FONT ID="xdx_907_eus-gaap--PreferredStockConvertibleConversionPrice_c20241231__us-gaap--StatementClassOfStockAxis__custom--ConvertibleSeriesBPreferredStockMember_pdd" TITLE="Preferred stock conversion price">7.00</FONT> per share. Notwithstanding the foregoing, we could not effect any conversion of Series B
Convertible Preferred Stock, with certain exceptions, to the extent that, after giving effect to an attempted conversion, the holder
of shares of Series B Convertible Preferred Stock (together with such holder&#8217;s affiliates, and any persons acting as a group
together with such holder or any of such holder&#8217;s affiliates) would beneficially own a number of shares of our common stock in
excess of 4.99% (or, at the election of the purchaser, 9.99%) of the shares of our common stock then outstanding after giving effect
to such conversion. The Series B Convertible Preferred Certificate of Designation does not prohibit the Company from waiving this
limitation. Upon any liquidation, dissolution or winding-up of the Company, whether voluntary or involuntary, the holders would be
entitled to participate on an as-converted-to-common stock basis (without giving effect to the Beneficial Ownership Limitation) with
holders of the common stock in any distribution of assets of the Company to the holders of the common stock. As of December 31, 2024
and December 31, 2023, respectively, there are zero <FONT ID="xdx_907_eus-gaap--PreferredStockSharesIssued_iI_c20241231__us-gaap--StatementClassOfStockAxis__custom--ConvertibleSeriesBPreferredStockMember_zvs47nAkukFe" TITLE="Preferred stock, shares issued"><FONT ID="xdx_900_eus-gaap--PreferredStockSharesOutstanding_iI_c20241231__us-gaap--StatementClassOfStockAxis__custom--ConvertibleSeriesBPreferredStockMember_z8dVuxU4OzYi" TITLE="Preferred stock, shares outstanding" STYLE="display: none">0</FONT></FONT>
and zero <FONT ID="xdx_907_eus-gaap--PreferredStockSharesIssued_iI_c20231231__us-gaap--StatementClassOfStockAxis__custom--ConvertibleSeriesBPreferredStockMember_z1t0mVGdX5ol" TITLE="Preferred stock, shares issued"><FONT ID="xdx_90F_eus-gaap--PreferredStockSharesOutstanding_iI_c20231231__us-gaap--StatementClassOfStockAxis__custom--ConvertibleSeriesBPreferredStockMember_z450AohQTTuc" TITLE="Preferred stock, shares outstanding" STYLE="display: none">0</FONT></FONT> shares of Series B Convertible Preferred Stock issued and outstanding.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify">&#160;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0"><B><FONT STYLE="text-decoration: underline">Series C Convertible Preferred Stock</FONT></B></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify">&#160;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify">The Company&#8217;s Board of Directors
designated <FONT ID="xdx_90C_ecustom--PreferredStockSharesAvailableToBeDesignated_c20241231__us-gaap--StatementClassOfStockAxis__custom--ConvertibleSeriesCPreferredStockMember_pdd">5,000</FONT>
shares as the Series C Convertible Preferred Stock (the &#8220;Series C Convertible Preferred Stock&#8221;). Each share of the
Series C Convertible Preferred Stock had a stated value of $<FONT ID="xdx_907_eus-gaap--PreferredStockParOrStatedValuePerShare_iI_c20241231__us-gaap--StatementClassOfStockAxis__custom--ConvertibleSeriesCPreferredStockMember_zCHPo2CBWRS6">1,000</FONT>.
The holders of the Series C Convertible Preferred Stock, the holders of the common stock and the holders of any other class or
series of shares entitled to vote with the common stock shall vote together as one class on all matters submitted to a vote of
shareholders of the Company. <FONT ID="xdx_905_eus-gaap--PreferredStockVotingRights_c20240101__20241231__us-gaap--StatementClassOfStockAxis__custom--ConvertibleSeriesCPreferredStockMember">Each
share of Series C Convertible Preferred Stock had 172 votes</FONT> (subject to adjustment); provided that in no event may a holder
of Series C Convertible Preferred Stock be entitled to vote a number of shares in excess of such holder&#8217;s Beneficial Ownership
Limitation (as defined in the Certificate of Designation and as described below). Each share of Series C Convertible Preferred Stock
was convertible, at any time and from time to time, at the option of the holder, into that number of shares of common stock (subject
to the Beneficial Ownership Limitation) determined by dividing the stated value of such share ($<FONT ID="xdx_900_eus-gaap--ConversionOfStockAmountConverted1_c20240101__20241231__us-gaap--StatementClassOfStockAxis__custom--ConvertibleSeriesCPreferredStockMember_pp0p0">1,000</FONT>)
by the conversion price, which is $<FONT ID="xdx_906_eus-gaap--PreferredStockConvertibleConversionPrice_c20241231__us-gaap--StatementClassOfStockAxis__custom--ConvertibleSeriesCPreferredStockMember_pdd">5.50</FONT>
(subject to adjustment). The Company shall not effect any conversion of the Series C Convertible Preferred Stock, and a holder shall
not have the right to convert any portion of the Series C Convertible Preferred Stock, to the extent that after giving effect to the
conversion sought by the holder such holder (together with such holder&#8217;s Attribution Parties (as defined in the Certificate of
Designation)) would beneficially own more than 4.99% (or upon election by a holder, 19.99%) of the number of shares of common stock
outstanding immediately after giving effect to the issuance of shares of common stock issuable upon such conversion (the
&#8220;Beneficial Ownership Limitation&#8221;). All holders of the Series C Preferred Stock elected the 19.99% Beneficial Ownership
Limitation. As of December 31, 2024 and December 31, 2023, respectively, there are zero <FONT ID="xdx_90F_eus-gaap--PreferredStockSharesOutstanding_iI_c20241231__us-gaap--StatementClassOfStockAxis__custom--ConvertibleSeriesCPreferredStockMember_zpp3ELQObId" TITLE="Preferred stock, shares outstanding" STYLE="display: none">0</FONT> and zero <FONT ID="xdx_909_eus-gaap--PreferredStockSharesOutstanding_iI_c20231231__us-gaap--StatementClassOfStockAxis__custom--ConvertibleSeriesCPreferredStockMember_zunqY0gYg1mi" TITLE="Preferred stock, shares outstanding" STYLE="display: none">0</FONT> shares of Series C Convertible
Preferred Stock issued and outstanding.</P>

<P ID="xdx_23E_zATEgu4RGXz" STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify">&#160;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify"></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify">&#160;</P>

<P ID="xdx_234_zEcWjrb0ecJ3" STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify">&#160;</P>


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    <DIV STYLE="break-before: page; margin-top: 6pt"><TABLE CELLPADDING="0" CELLSPACING="0" STYLE="width: 100%"><TR><TD STYLE="text-align: center; width: 100%"><P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: center"><B>DUOS TECHNOLOGIES GROUP, INC. AND SUBSIDIARIES</B></P><P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: center"><B>NOTES TO CONSOLIDATED FINANCIAL STATEMENTS</B></P><P STYLE="font: 10pt/115% Times New Roman, Times, Serif; margin: 0 0 8pt; text-align: center"><B>DECEMBER 31, 2024 AND 2023</B></P></TD></TR></TABLE></DIV>
    <!-- Field: /Page -->


<P ID="xdx_237_z5RfIg7pNeE1" STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0">&#160;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0"></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0"><B><FONT STYLE="text-decoration: underline">Series D Convertible Preferred Stock</FONT></B></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0">&#160;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify">On September 28, 2022, the Company amended its
articles of incorporation to designate <FONT ID="xdx_90E_ecustom--PreferredStockSharesAvailableToBeDesignated_c20220928__us-gaap--StatementClassOfStockAxis__custom--ConvertibleSeriesDPreferredStockMember_pdd" TITLE="Preferred stock, shares designated">4,000</FONT>
shares as the Series D Convertible Preferred Stock (the &#8220;Series D Convertible Preferred Stock&#8221;). Each share of the
Series D Convertible Preferred Stock has a stated value of $<FONT ID="xdx_901_eus-gaap--PreferredStockParOrStatedValuePerShare_c20220928__us-gaap--StatementClassOfStockAxis__custom--ConvertibleSeriesDPreferredStockMember_pdd" TITLE="Preferred stock, par value">1,000</FONT>.
The holders of the Series D Convertible Preferred Stock, the holders of the common stock and the holders of any other class or
series of shares entitled to vote with the common stock shall vote together as one class on all matters submitted to a vote of
shareholders of the Company. <FONT ID="xdx_904_eus-gaap--PreferredStockVotingRights_c20240101__20241231__us-gaap--StatementClassOfStockAxis__custom--ConvertibleSeriesDPreferredStockMember" TITLE="Preferred stock voting rights">Each
share of Series D Convertible Preferred Stock has 333 votes</FONT> (subject to standard anti-dilution adjustment); provided that in
no event may a holder of Series D Convertible Preferred Stock be entitled to vote a number of shares in excess of such
holder&#8217;s Beneficial Ownership Limitation (as defined in the Certificate of Designation and as described below). Each share of
Series D Convertible Preferred Stock is convertible, at any time and from time to time, at the option of the holder, into that
number of shares of common stock (subject to the Beneficial Ownership Limitation) determined by dividing the stated value of such
share ($<FONT ID="xdx_901_eus-gaap--ConversionOfStockAmountConverted1_c20240101__20241231__us-gaap--StatementClassOfStockAxis__custom--ConvertibleSeriesDPreferredStockMember_pp0p0" TITLE="Converted value">1,000</FONT>)
by the conversion price, which is $<FONT ID="xdx_90A_eus-gaap--PreferredStockConvertibleConversionPrice_c20241231__us-gaap--StatementClassOfStockAxis__custom--ConvertibleSeriesDPreferredStockMember_pdd" TITLE="Preferred stock conversion price">3.00</FONT>
(subject to adjustment to $2.61). The Company shall not effect any conversion of the Series D Convertible Preferred Stock, and a holder
shall not have the right to convert any portion of the Series D Convertible Preferred Stock, to the extent that after giving effect
to the conversion sought by the holder such holder (together with such holder&#8217;s Attribution Parties (as defined in the
Certificate of Designation)) would beneficially own more than 4.99% (or upon election by a holder, 19.99%) of the number of shares
of common stock outstanding immediately after giving effect to the issuance of shares of common stock issuable upon such conversion
(the &#8220;Beneficial Ownership Limitation&#8221;). All but one of the holders of the Series D Preferred Stock elected the 19.99%
Beneficial Ownership Limitation. The Company shall reserve and keep available out of its authorized and unissued Common Stock,
solely for the issuance upon the conversion of the Series D Convertible Preferred Stock, such a number of shares of Common Stock as
shall from time to time be issuable upon the conversion of all of the shares of the Series D Convertible Preferred Stock then
outstanding. Additionally, the Series D Convertible Preferred Stock does not have the right to dividends and in the event of an
involuntary liquidation, the Series D shares shall be treated as a pro rata equivalent of common stock outstanding at the date of
the liquidation event and have no liquidation preference.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0">&#160;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify">On September 30, 2022, the Company entered into a
Securities Purchase Agreement (the &#8220;Purchase Agreement&#8221;) with certain existing investors in the Company (the &#8220;Purchasers&#8221;).
Pursuant to the Purchase Agreement, the Purchasers purchased <FONT ID="xdx_908_eus-gaap--PreferredStockSharesIssued_c20220930__us-gaap--TypeOfArrangementAxis__custom--PurchaseAgreementMember__us-gaap--StatementClassOfStockAxis__custom--ConvertibleSeriesDPreferredStockMember_pdd" TITLE="Preferred stock, shares issued">999</FONT> shares of the newly authorized Series D Convertible Preferred Stock,
and the Company received proceeds of $<FONT ID="xdx_902_eus-gaap--ProceedsFromIssuanceOfConvertiblePreferredStock_c20220929__20220930__us-gaap--StatementClassOfStockAxis__custom--ConvertibleSeriesDPreferredStockMember__us-gaap--TypeOfArrangementAxis__custom--PurchaseAgreementMember_pp0p0" TITLE="Proceeds from convertible preferred stock">999,000</FONT>. The Purchase Agreement contains customary representations, warranties, agreements and indemnification
rights and obligations of the parties. On October 29, 2022, the Company entered into a Securities Purchase Agreement (the &#8220;Purchase
Agreement&#8221;) with a certain existing investor in the Company (the &#8220;Purchaser&#8221;). Pursuant to the Purchase Agreement, the
Purchaser purchased <FONT ID="xdx_908_eus-gaap--PreferredStockSharesIssued_c20221029__us-gaap--StatementClassOfStockAxis__custom--ConvertibleSeriesDPreferredStockMember__us-gaap--TypeOfArrangementAxis__custom--PurchaseAgreementMember_pdd" TITLE="Preferred stock, shares issued">300</FONT> shares of the newly authorized Series D Convertible Preferred Stock, and the Company received proceeds of $<FONT ID="xdx_90A_eus-gaap--ProceedsFromIssuanceOfConvertiblePreferredStock_c20221028__20221029__us-gaap--StatementClassOfStockAxis__custom--ConvertibleSeriesDPreferredStockMember__us-gaap--TypeOfArrangementAxis__custom--PurchaseAgreementMember_pp0p0" TITLE="Proceeds from convertible preferred stock">300,000</FONT>.
The Purchase Agreement contains customary representations, warranties, agreements and indemnification rights and obligations of the parties.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify">&#160;&#160;</P>

<P STYLE="font: 10pt/105% Times New Roman, Times, Serif; margin: 0; text-align: justify">At the Annual Meeting on May 16, 2023, the stockholders approved the
convertibility of the Series D Preferred Stock into common stock.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0">&#160;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify">On March 22, 2024, March 28, 2024, and April 3, 2024,
the Company entered into Securities Purchase Agreements (the &#8220;Purchase Agreements&#8221;) with certain existing and other accredited
investors (the &#8220;2024 Purchasers&#8221;). Pursuant to the Purchase Agreements, the 2024 Purchasers purchased an aggregate of <FONT ID="xdx_900_eus-gaap--StockIssuedDuringPeriodSharesNewIssues_c20240101__20241231__us-gaap--StatementClassOfStockAxis__custom--ConvertibleSeriesDPreferredStockMember_pdd" TITLE="Number of shares issued, shares">870</FONT>
shares of Series D Preferred Stock, at a price of $1,000 per share, and the Company received proceeds of $<FONT ID="xdx_900_eus-gaap--StockIssuedDuringPeriodValueNewIssues_c20240101__20241231__us-gaap--StatementClassOfStockAxis__custom--ConvertibleSeriesDPreferredStockMember_pp0p0" TITLE="Total net proceeds">870,000</FONT>.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify">&#160;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify"></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify">In connection with such Purchase Agreements, the Company
entered into Registration Rights Agreements and filed registration statements with the SEC covering the resale by the Purchasers of the
shares of common stock into which the shares of Series D Convertible Preferred Stock are convertible. The Registration Rights Agreements
contain customary representations, warranties, agreements and indemnification rights and obligations of the parties.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify">&#160;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify">The Registration Rights Agreements contain provisions
for liquidated damages equal to 1% multiplied by the aggregate subscription amount paid, paid each month, in the event certain deadlines
are missed.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify">&#160;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify">In April, May, July and October of 2024, <FONT ID="xdx_90D_eus-gaap--PreferredStockSharesIssued_c20241231__us-gaap--StatementClassOfStockAxis__custom--ConvertibleSeriesDPreferredStockMember__us-gaap--TypeOfArrangementAxis__custom--PurchaseAgreementMember_pdd" TITLE="Preferred stock, shares issued">870</FONT> outstanding
shares of Series D Convertible Preferred Stock were converted into <FONT ID="xdx_906_eus-gaap--ProceedsFromIssuanceOfConvertiblePreferredStock_pp0p0_c20240101__20241231__us-gaap--StatementClassOfStockAxis__custom--ConvertibleSeriesDPreferredStockMember__us-gaap--TypeOfArrangementAxis__custom--PurchaseAgreementMember_zhr6t52Nt5L7" TITLE="Proceeds from convertible preferred stock">290,002</FONT> shares of common stock. As of December 31, 2024, and 2023,
there were <FONT ID="xdx_907_eus-gaap--PreferredStockSharesIssued_iI_c20241231__us-gaap--StatementClassOfStockAxis__custom--ConvertibleSeriesDPreferredStockMember_zp4AyKCb8jDe" TITLE="Preferred stock, shares issued"><FONT ID="xdx_90E_eus-gaap--PreferredStockSharesOutstanding_iI_c20241231__us-gaap--StatementClassOfStockAxis__custom--ConvertibleSeriesDPreferredStockMember_zGgvAE0SX2H4" TITLE="Preferred stock, shares outstanding">1,299</FONT></FONT> and <FONT ID="xdx_90C_eus-gaap--PreferredStockSharesIssued_iI_c20231231__us-gaap--StatementClassOfStockAxis__custom--ConvertibleSeriesDPreferredStockMember_zGSQXaUbe6N1" TITLE="Preferred stock, shares issued"><FONT ID="xdx_908_eus-gaap--PreferredStockSharesOutstanding_iI_c20231231__us-gaap--StatementClassOfStockAxis__custom--ConvertibleSeriesDPreferredStockMember_zvUiD2vbn3Ng" TITLE="Preferred stock, shares outstanding">1,299</FONT></FONT> shares of Series D Convertible Preferred Stock issued and outstanding, respectively.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify">&#160;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify"></P>

<P ID="xdx_23D_zfONkbVC90Ac" STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify">&#160;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify"></P>

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<P ID="xdx_23B_zbKiEgK7gtxd" STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify">&#160;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify"><B><FONT STYLE="text-decoration: underline">Series E Convertible Preferred Stock </FONT></B></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify">&#160;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify">The Company&#8217;s Board of Directors has
designated <FONT ID="xdx_903_ecustom--PreferredStockSharesAvailableToBeDesignated_iI_c20241231__us-gaap--StatementClassOfStockAxis__custom--ConvertibleSeriesEPreferredStockMember_zVVVeWKEI3og" TITLE="Preferred stock, shares designated">30,000</FONT>
shares as the Series E Convertible Preferred Stock (the &#8220;Series E Convertible Preferred Stock&#8221;). Each share of the
Series E Convertible Preferred Stock has a stated value of $<FONT ID="xdx_90E_eus-gaap--PreferredStockParOrStatedValuePerShare_iI_c20241231__us-gaap--StatementClassOfStockAxis__custom--ConvertibleSeriesEPreferredStockMember_zkQTx2cDwj95" TITLE="Preferred stock, par value">1,000</FONT>.
The holders of the Series E Convertible Preferred Stock, the holders of the common stock and the holders of any other class or
series of shares entitled to vote with the common stock shall vote as one class on all matters submitted to a vote of shareholders
of the Company. <FONT ID="xdx_903_eus-gaap--PreferredStockVotingRights_c20240101__20241231__us-gaap--StatementClassOfStockAxis__custom--ConvertibleSeriesEPreferredStockMember" TITLE="Preferred stock voting rights">Each
share of Series E Convertible Preferred Stock has 333 votes</FONT> (subject to adjustment); provided that in no event may a holder
of Series E Convertible Preferred Stock be entitled to vote a number of shares in excess of such holder&#8217;s Beneficial Ownership
Limitation. Each share of Series E Convertible Preferred Stock is convertible at any time and from time to time, at the option of
the holder, into that number of shares of common stock (subject to the Beneficial Ownership Limitation) determined by dividing the
stated value of such share ($<FONT ID="xdx_90E_eus-gaap--SharePrice_c20241231__us-gaap--StatementClassOfStockAxis__custom--ConvertibleSeriesEPreferredStockMember_pdd" TITLE="Share price">1,000</FONT>)
by the conversion price, which was $<FONT ID="xdx_90B_eus-gaap--PreferredStockConvertibleConversionPrice_c20241231__us-gaap--StatementClassOfStockAxis__custom--ConvertibleSeriesEPreferredStockMember_pdd" TITLE="Preferred stock conversion price">3.00</FONT>
(subject to adjustment) (see adjustment below to $2.61). The Company shall not effect any conversion of the Series E Convertible Preferred
Stock, and the holder shall not have the right to convert any portion of the Series E Convertible Preferred Stock, to the extent
that after giving effect to the conversion sought by the holder such holder (together with such holder&#8217;s Attribution Parties
(as defined in the Certificate of Designation)) would beneficially own more than 4.99% (or upon election by a holder, 19.99%) of the
number of shares of common stock outstanding immediately after giving effect to the issuance of shares of common stock issuable upon
such conversion (the &#8220;Beneficial Ownership Limitation&#8221;). All but one of the holders of the Series E Preferred Stock
elected the 19.99% Beneficial Ownership Limitation.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify"></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify">&#160;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify">The Company on March 27, 2023 entered into a Securities
Purchase Agreement (the &#8220;Purchase Agreement&#8221;) with existing investors in the Company (the &#8220;Purchasers&#8221;). Pursuant
to the Purchase Agreement, the Purchasers purchased <FONT ID="xdx_902_eus-gaap--PreferredStockSharesIssued_c20230327__us-gaap--StatementClassOfStockAxis__custom--ConvertibleSeriesEPreferredStockMember_pdd" TITLE="Preferred stock, shares issued">4,000</FONT> shares of a newly authorized Series E Convertible Preferred Stock at a price
of $<FONT ID="xdx_90B_eus-gaap--PreferredStockParOrStatedValuePerShare_c20230327__us-gaap--StatementClassOfStockAxis__custom--ConvertibleSeriesEPreferredStockMember_pdd" TITLE="Preferred stock, par value">1,000</FONT> per share, and the Company received proceeds of $<FONT ID="xdx_904_eus-gaap--ProceedsFromIssuanceOfConvertiblePreferredStock_c20230326__20230327__us-gaap--StatementClassOfStockAxis__custom--ConvertibleSeriesEPreferredStockMember__us-gaap--TypeOfArrangementAxis__custom--PurchaseAgreementMember_pp0p0" TITLE="Proceeds from convertible preferred stock">4,000,000</FONT>. The Purchase Agreement contains customary representations, warranties,
agreements and indemnification rights and obligations of the parties.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0">&#160;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify">The existing investors&#8217; Purchase Agreement also
provided that the Company would not, with certain exceptions, sell or issue common stock or Common Stock Equivalents (as defined in the
Purchase Agreement) on or prior to December 31, 2023 that entitled any person to acquire shares of common stock at an effective price
per share less than the then conversion price of the Series E Convertible Preferred Stock without the consent of the Purchaser.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0">&#160;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify">On November 9, 2023, the Company entered into a Securities
Purchase Agreement (the &#8220;November Purchase Agreement&#8221;) with existing investors in the Company (the &#8220;Purchasers&#8221;).
Pursuant to the Purchase Agreement, the Purchasers purchased <FONT ID="xdx_906_ecustom--PreferredConvertiblePreferredStockShares_c20231108__20231109__us-gaap--StatementClassOfStockAxis__custom--ConvertibleSeriesEPreferredStockMember_pdd" TITLE="Preferred convertible preferred stock, Shares">2,500</FONT> shares of Series E Convertible Preferred Stock, at a price of $1,000
per share, and the Company received proceeds of $<FONT ID="xdx_907_eus-gaap--ProceedsFromIssuanceOfConvertiblePreferredStock_c20231108__20231109__us-gaap--StatementClassOfStockAxis__custom--ConvertibleSeriesEPreferredStockMember_pp0p0" TITLE="Proceeds from convertible preferred stock">2,500,000</FONT>.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0">&#160;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify">The November Purchase Agreement also provided that
the Company would not, with certain exceptions, sell or issue common stock or Common Stock Equivalents (as defined in the November Purchase
Agreement) on or prior to June 30, 2024 that entitled any person to acquire shares of common stock at an effective price per share less
than the then conversion price of the Series E Convertible Preferred Stock (which was $<FONT ID="xdx_905_eus-gaap--PreferredStockConvertibleConversionPrice_c20231110__us-gaap--StatementClassOfStockAxis__custom--ConvertibleSeriesEPreferredStockMember_pdd" TITLE="Preferred stock conversion price">3.00</FONT> per share) without the consent of the Purchasers.
If the Company sold shares less than the conversion price, with the consent of purchasers, then the Series E conversion price would be
amended to that lower share price. This provision had not been triggered as of June 30, 2024.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0">&#160;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0"></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify">The Purchasers under the November Purchase Agreement also were the
holders of the Company&#8217;s Series F Convertible Preferred Stock issued on August 1, 2023. The purchase agreement relating to the shares
of Series F Convertible Preferred Stock required the consent of the holders in the event the Company were to issue common stock or rights
to acquire common stock prior to December 31, 2023 at an effective price per share less than the then conversion price of the Series F
Convertible Preferred Stock, which was $6.20 per share. As a result, on November 10, 2023 the Company and the holders of the Series F
Convertible Preferred Stock entered into Exchange Agreements pursuant to which the holders of Series F Convertible Preferred Stock exchanged
their 5,000 shares of Series F Convertible Preferred Stock for an equal number of shares of Series E Convertible Preferred Stock. As a
result of the November Purchase Agreement and the Exchange Agreements, the Company issued a total of <FONT ID="xdx_900_eus-gaap--SharesIssued_c20231110__us-gaap--StatementClassOfStockAxis__custom--ConvertibleSeriesEPreferredStockMember_pdd" TITLE="Additional shares">7,500</FONT> shares of Series E Convertible
Preferred Stock and the <FONT ID="xdx_909_ecustom--StockExchangeShares_c20231110__us-gaap--StatementClassOfStockAxis__custom--ConvertibleSeriesEPreferredStockMember_pdd" TITLE="Exchange of shares">5,000</FONT> shares of Series F Convertible Preferred Stock were cancelled.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0">&#160;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify">On March 22, 2024 and March 28, 2024, the Company entered into Securities
Purchase Agreements (the &#8220;Purchase Agreements&#8221;) with certain existing and other accredited investors (the &#8220;2024 Purchasers&#8221;).
Pursuant to the Purchase Agreements, the 2024 Purchasers purchased an aggregate of <FONT ID="xdx_901_eus-gaap--StockIssuedDuringPeriodSharesNewIssues_c20240101__20241231__us-gaap--StatementClassOfStockAxis__custom--ConvertibleSeriesEPreferredStockMember_pdd" TITLE="Number of shares issued, shares">2,125</FONT> shares of Series E Convertible Preferred Stock,
at a price in each case of $1,000 per share, and the Company received proceeds of $<FONT ID="xdx_90F_eus-gaap--StockIssuedDuringPeriodValueNewIssues_c20240101__20241231__us-gaap--StatementClassOfStockAxis__custom--ConvertibleSeriesEPreferredStockMember_pp0p0" TITLE="Total net proceeds">2,125,002</FONT>. Those purchase agreements had similar price
protections as the November Purchase Agreement but extended the price protection date to December 31, 2024, for all Series E holders.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify">&#160;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify">On September 19, 2024, the conversion rate of
the Series E Convertible Preferred Stock was lowered to $2.61 from $3.00 per share based on the down round protection provision
triggered by the warrants induced exercise price of $2.61 per share. This will lead to the issuance of an additional <FONT ID="xdx_90E_ecustom--CommonStockUponConversionOfPreferredShares_c20240101__20241231__us-gaap--TransactionTypeAxis__custom--SecuritiesPurchaseAgreementsMember_zVfFn4TGre0g" TITLE="Common stock upon conversion of preferred shares">678,640</FONT>
shares of common stock upon the conversion of the preferred shares.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0">&#160;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify">In October of 2024, <FONT ID="xdx_90C_eus-gaap--PreferredStockSharesOutstanding_c20241031__us-gaap--StatementClassOfStockAxis__custom--ConvertibleSeriesEPreferredStockMember_pdd" TITLE="Preferred stock, shares outstanding">125</FONT>
outstanding shares of the Series E Convertible Preferred Stock were converted into <FONT ID="xdx_90C_eus-gaap--ProceedsFromIssuanceOfConvertiblePreferredStock_c20240101__20241031__us-gaap--StatementClassOfStockAxis__custom--ConvertibleSeriesEPreferredStockMember_pp0p0" TITLE="Proceeds from convertible preferred stock">47,892</FONT>
shares of common stock. As of December 31, 2024, and December 31, 2023, respectively, there were <FONT ID="xdx_905_eus-gaap--PreferredStockSharesIssued_iI_c20241231__us-gaap--StatementClassOfStockAxis__custom--ConvertibleSeriesEPreferredStockMember_zTXHVOlBkdj8" TITLE="Preferred stock, shares issued"><FONT ID="xdx_900_eus-gaap--PreferredStockSharesOutstanding_iI_c20241231__us-gaap--StatementClassOfStockAxis__custom--ConvertibleSeriesEPreferredStockMember_z82rcwkUuSX8" TITLE="Preferred stock, shares outstanding">13,500</FONT></FONT>
and <FONT ID="xdx_90B_eus-gaap--PreferredStockSharesIssued_iI_c20231231__us-gaap--StatementClassOfStockAxis__custom--ConvertibleSeriesEPreferredStockMember_zO8APCc7pHpe" TITLE="Preferred stock, shares issued"><FONT ID="xdx_903_eus-gaap--PreferredStockSharesOutstanding_iI_c20231231__us-gaap--StatementClassOfStockAxis__custom--ConvertibleSeriesEPreferredStockMember_zQMrIRlwzCs6" TITLE="Preferred stock, shares outstanding">11,500</FONT></FONT>
shares of Series E Convertible Preferred Stock issued and outstanding.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify">&#160;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify"></P>

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    <DIV STYLE="break-before: page; margin-top: 6pt"><TABLE CELLPADDING="0" CELLSPACING="0" STYLE="width: 100%"><TR><TD STYLE="text-align: center; width: 100%"><P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: center"><B>DUOS TECHNOLOGIES GROUP, INC. AND SUBSIDIARIES</B></P><P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: center"><B>NOTES TO CONSOLIDATED FINANCIAL STATEMENTS</B></P><P STYLE="font: 10pt/115% Times New Roman, Times, Serif; margin: 0 0 8pt; text-align: center"><B>DECEMBER 31, 2024 AND 2023</B></P></TD></TR></TABLE></DIV>
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<P ID="xdx_233_zB2UmheSF2Yd" STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify">&#160;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify">In connection with such Purchase Agreements, the Company
also entered into Registration Rights Agreements with the Purchasers. Pursuant to the Registration Rights Agreements, the Company filed
with the SEC registration statements covering the resale by the Purchasers of the shares of common stock into which the shares of Series
E Convertible Preferred Stock are convertible.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify">&#160;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify">The Registration Rights Agreements contain customary
representations, warranties, agreements and indemnification rights and obligations of the parties. The Registration Rights Agreements
contain provisions for liquidated damages equal to 1% multiplied by the aggregate subscription amount paid, paid each month, in the event
certain deadlines are missed.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify">&#160;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify"><B><FONT STYLE="text-decoration: underline">Series F Convertible Preferred
Stock</FONT></B></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify"></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify">&#160;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify">The Company's Board of Directors designated <FONT ID="xdx_906_ecustom--PreferredStockSharesAvailableToBeDesignated_c20241231__us-gaap--StatementClassOfStockAxis__custom--ConvertibleSeriesFPreferredStockMember_pdd" TITLE="Preferred stock, shares designated">5,000</FONT>
shares as the Series F Preferred Stock. Each share of Series F Preferred Stock was convertible, at any time and from time to time, at
the option of the holder, into that number of shares of common stock (subject to the beneficial ownership limitation described below)
determined by dividing the stated value of such share ($<FONT ID="xdx_903_eus-gaap--ConversionOfStockAmountConverted1_c20240101__20241231__us-gaap--StatementClassOfStockAxis__custom--ConvertibleSeriesFPreferredStockMember_pp0p0" TITLE="Converted value">1,000</FONT>) by the conversion price, which is $<FONT ID="xdx_908_eus-gaap--PreferredStockConvertibleConversionPrice_c20241231__us-gaap--StatementClassOfStockAxis__custom--ConvertibleSeriesFPreferredStockMember_pdd" TITLE="Preferred stock conversion price">6.20</FONT> (subject to adjustment) which equates
to 161 common shares for each converted Series F preferred share. The Company, however, shall not effect any conversion of the Series
F Preferred Stock, and the holder shall not have the right to convert any portion of the Series F Preferred Stock, to the extent that
after giving effect to the conversion sought by the holder such holder (together with such holder&#8217;s Attribution Parties (as defined
in the Certificate of Designation)) would beneficially own more than 4.99% (or upon election by a holder, 19.99%) of the number of shares
of common stock outstanding immediately after giving effect to the issuance of shares of common stock issuable upon such conversion. The
purchasers of the Series F Preferred Stock elected that their ownership limitation would be 19.99%.&#160;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify">&#160;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify">The holders of the Series F Preferred Stock, the holders
of the common stock and the holders of any other class or series of shares entitled to vote with the common stock shall vote together
as one class on all matters submitted to a vote of shareholders of the Company. <FONT ID="xdx_902_eus-gaap--PreferredStockVotingRights_c20240101__20241231__us-gaap--StatementClassOfStockAxis__custom--ConvertibleSeriesFPreferredStockMember" TITLE="Preferred stock voting rights">Each share of Series F Preferred Stock had 161 votes</FONT> (subject
to adjustment); provided that in no event may a holder of Series F Preferred Stock be entitled to vote a number of shares in excess of
such holder&#8217;s ownership limitation.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify">&#160;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify">On August 2, 2023, the Company entered into a Securities
Purchase Agreement (the &#8220;Purchase Agreement&#8221;) with existing, accredited investors in the Company (the &#8220;Purchasers&#8221;).
Pursuant to the Purchase Agreement, the Purchasers purchased 5,000 shares of a newly authorized Series F Convertible Preferred Stock (the
&#8220;Series F Convertible Preferred Stock&#8221;), and the Company received proceeds of $<FONT ID="xdx_907_eus-gaap--ProceedsFromIssuanceOfConvertiblePreferredStock_c20230730__20230802__us-gaap--StatementClassOfStockAxis__custom--ConvertibleSeriesFPreferredStockMember_pp0p0" TITLE="Proceeds from convertible preferred stock">5,000,000</FONT>. The Purchase Agreement contains
customary representations, warranties, agreements and indemnification rights and obligations of the parties.&#160;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify">&#160;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify">The Company also agreed that it would not, with certain
exceptions, sell or issue common stock or Common Stock Equivalents (as defined in the Purchase Agreement relating to the Series F Preferred
Stock) on or prior to December 31, 2023 that entitled any person to acquire shares of common stock at an effective price per share less
than the then conversion price of the Series F Preferred Stock without the consent of the holders. As a result of that agreement, upon
the issuance of <FONT ID="xdx_901_eus-gaap--SharesIssued_c20231110__us-gaap--StatementClassOfStockAxis__custom--ConvertibleSeriesFPreferredStockMember_pdd" TITLE="Additional shares">2,500</FONT> shares of Series E Preferred Stock (which had a conversion price of $3.00 per share) on November 10, 2023, the holders
exchanged their <FONT ID="xdx_901_ecustom--NumberOfSharesExchanged_c20231110__us-gaap--StatementClassOfStockAxis__custom--ConvertibleSeriesFPreferredStockMember_pdd" TITLE="Number of shares exchanged">5,000</FONT> shares of Series F Preferred Stock for <FONT ID="xdx_90A_ecustom--StockExchangeShares_c20231110__us-gaap--StatementClassOfStockAxis__custom--ConvertibleSeriesFPreferredStockMember_pdd" TITLE="Exchange of shares">5,000</FONT> shares of Series E Preferred Stock. All of the shares of Series F Preferred
Stock thereupon were cancelled with zero shares now outstanding.&#160;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify">&#160;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify">As of December 31, 2024, and December 31, 2023,
respectively, there were zero <FONT ID="xdx_905_eus-gaap--PreferredStockSharesIssued_iI_c20241231__us-gaap--StatementClassOfStockAxis__custom--ConvertibleSeriesFPreferredStockMember_zbEH1ZgfaaZ6" TITLE="Preferred stock, shares issued"><FONT ID="xdx_90E_eus-gaap--PreferredStockSharesOutstanding_iI_c20241231__us-gaap--StatementClassOfStockAxis__custom--ConvertibleSeriesFPreferredStockMember_zcZasKLbkoni" TITLE="Preferred stock, shares outstanding" STYLE="display: none">0</FONT></FONT> and zero <FONT ID="xdx_90E_eus-gaap--PreferredStockSharesIssued_iI_c20231231__us-gaap--StatementClassOfStockAxis__custom--ConvertibleSeriesFPreferredStockMember_zABkMz344Y3" TITLE="Preferred stock, shares issued"><FONT ID="xdx_90C_eus-gaap--PreferredStockSharesOutstanding_iI_c20231231__us-gaap--StatementClassOfStockAxis__custom--ConvertibleSeriesFPreferredStockMember_zSe7MvtCUp89" TITLE="Preferred stock, shares outstanding" STYLE="display: none">0</FONT></FONT> shares of Series F Convertible Preferred Stock issued and outstanding.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify">&#160;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify"><B><FONT STYLE="text-decoration: underline">Common stock issued</FONT></B></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify"><B>&#160;</B></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify"><B><FONT STYLE="text-decoration: underline">2024 Transactions</FONT></B></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify"><B>&#160;</B></P>

<P STYLE="font: 10pt/11pt Times New Roman, Times, Serif; margin: 0; text-align: justify">During the three months ended March 31, 2024,
the Company issued <FONT ID="xdx_902_eus-gaap--StockIssuedDuringPeriodSharesIssuedForServices_c20240101__20240331__srt--TitleOfIndividualAxis__custom--FourDirectorsMember__us-gaap--StatementEquityComponentsAxis__us-gaap--CommonStockMember_pdd" TITLE="Stock issued for services , shares">8,655</FONT> shares of common stock for payment of board fees to four directors in the amount of $<FONT ID="xdx_902_eus-gaap--StockIssuedDuringPeriodValueIssuedForServices_c20240101__20240331__srt--TitleOfIndividualAxis__custom--FourDirectorsMember__us-gaap--StatementEquityComponentsAxis__us-gaap--CommonStockMember_pp0p0" TITLE="Stock issued for services, value">37,500</FONT> for services to the
board which was expensed during the three months ended March 31, 2024. The volume-weighted average price (VWAP) per share used to value
the services is $<FONT ID="xdx_905_eus-gaap--ShareBasedCompensationArrangementByShareBasedPaymentAwardPerShareWeightedAveragePriceOfSharesPurchased_c20241231__srt--TitleOfIndividualAxis__custom--FourDirectorsMember__us-gaap--StatementEquityComponentsAxis__us-gaap--CommonStockMember_pdd" TITLE="Weighted average price per share">4.33</FONT>.</P>

<P STYLE="font: 10pt/11pt Times New Roman, Times, Serif; margin: 0; text-align: justify">&#160;</P>

<P STYLE="font: 10pt/11pt Times New Roman, Times, Serif; margin: 0; text-align: justify">On April 23, 2024, two shareholders converted
<FONT ID="xdx_908_eus-gaap--ConversionOfStockSharesConverted1_c20240422__20240423__srt--TitleOfIndividualAxis__custom--OneShareholdersMember__us-gaap--StatementClassOfStockAxis__custom--ConvertibleSeriesDPreferredStockMember_pdd" TITLE="Converted shares">147</FONT> and <FONT ID="xdx_906_eus-gaap--ConversionOfStockSharesConverted1_c20240422__20240423__srt--TitleOfIndividualAxis__custom--TwoShareholdersMember__us-gaap--StatementClassOfStockAxis__custom--ConvertibleSeriesDPreferredStockMember_pdd" TITLE="Converted shares">78</FONT> for a total of <FONT ID="xdx_90B_eus-gaap--ConversionOfStockSharesConverted1_c20240422__20240423__us-gaap--StatementClassOfStockAxis__custom--ConvertibleSeriesDPreferredStockMember_pdd" TITLE="Converted shares">225</FONT> shares of Series D Convertible Preferred Stock collectively with a stated value of $<FONT ID="xdx_909_eus-gaap--ConversionOfStockAmountConverted1_c20240422__20240423__us-gaap--StatementClassOfStockAxis__custom--ConvertibleSeriesDPreferredStockMember_pp0p0" TITLE="Converted value">225,000</FONT> with a conversion
price of $<FONT ID="xdx_908_eus-gaap--PreferredStockConvertibleConversionPrice_c20240423__us-gaap--StatementClassOfStockAxis__custom--ConvertibleSeriesDPreferredStockMember_pdd" TITLE="Preferred stock conversion price">3.00</FONT> per common share resulting in the issuance of <FONT ID="xdx_90F_eus-gaap--ConvertiblePreferredStockSharesIssuedUponConversion_c20240423__srt--TitleOfIndividualAxis__custom--OneShareholdersMember__us-gaap--StatementClassOfStockAxis__custom--ConvertibleSeriesDPreferredStockMember_pdd" TITLE="Converted shares issued">49,000</FONT> and <FONT ID="xdx_909_eus-gaap--ConvertiblePreferredStockSharesIssuedUponConversion_c20240423__srt--TitleOfIndividualAxis__custom--TwoShareholdersMember__us-gaap--StatementClassOfStockAxis__custom--ConvertibleSeriesDPreferredStockMember_pdd" TITLE="Converted shares issued">26,000</FONT> shares of the Company&#8217;s common stock.</P>

<P STYLE="font: 10pt/11pt Times New Roman, Times, Serif; margin: 0; text-align: justify">&#160;</P>

<P STYLE="font: 10pt/11pt Times New Roman, Times, Serif; margin: 0; text-align: justify">On April 30, 2024, two shareholders converted
<FONT ID="xdx_904_eus-gaap--ConversionOfStockSharesConverted1_c20240429__20240430__srt--TitleOfIndividualAxis__custom--OneShareholdersMember__us-gaap--StatementClassOfStockAxis__custom--ConvertibleSeriesDPreferredStockMember_pdd" TITLE="Converted shares">100</FONT> and <FONT ID="xdx_90B_eus-gaap--ConversionOfStockSharesConverted1_c20240429__20240430__srt--TitleOfIndividualAxis__custom--TwoShareholdersMember__us-gaap--StatementClassOfStockAxis__custom--ConvertibleSeriesDPreferredStockMember_pdd" TITLE="Converted shares">250</FONT> for a total of <FONT ID="xdx_900_eus-gaap--ConversionOfStockSharesConverted1_c20240429__20240430__us-gaap--StatementClassOfStockAxis__custom--ConvertibleSeriesDPreferredStockMember_pdd" TITLE="Converted shares">350</FONT> shares of Series D Convertible Preferred Stock collectively with a stated value of $<FONT ID="xdx_905_eus-gaap--ConversionOfStockAmountConverted1_c20240429__20240430__us-gaap--StatementClassOfStockAxis__custom--ConvertibleSeriesDPreferredStockMember_pp0p0" TITLE="Converted value">350,000</FONT> with a conversion
price of $<FONT ID="xdx_90A_eus-gaap--PreferredStockConvertibleConversionPrice_c20240430__us-gaap--StatementClassOfStockAxis__custom--ConvertibleSeriesDPreferredStockMember_pdd" TITLE="Preferred stock conversion price">3.00</FONT> per common share resulting in the issuance of <FONT ID="xdx_90D_eus-gaap--ConvertiblePreferredStockSharesIssuedUponConversion_c20240430__srt--TitleOfIndividualAxis__custom--OneShareholdersMember__us-gaap--StatementClassOfStockAxis__custom--ConvertibleSeriesDPreferredStockMember_pdd" TITLE="Converted shares issued">33,334</FONT> and <FONT ID="xdx_90B_eus-gaap--ConvertiblePreferredStockSharesIssuedUponConversion_c20240430__srt--TitleOfIndividualAxis__custom--TwoShareholdersMember__us-gaap--StatementClassOfStockAxis__custom--ConvertibleSeriesDPreferredStockMember_pdd" TITLE="Converted shares issued">83,334</FONT> shares of the Company&#8217;s common stock.</P>


<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify">&#160;</P>

<P ID="xdx_232_zSf769bA7Bqd" STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify">&#160;</P>


<!-- Field: Page; Sequence: 116 -->
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    <DIV STYLE="break-before: page; margin-top: 6pt"><TABLE CELLPADDING="0" CELLSPACING="0" STYLE="width: 100%"><TR><TD STYLE="text-align: center; width: 100%"><P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: center"><B>DUOS TECHNOLOGIES GROUP, INC. AND SUBSIDIARIES</B></P><P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: center"><B>NOTES TO CONSOLIDATED FINANCIAL STATEMENTS</B></P><P STYLE="font: 10pt/115% Times New Roman, Times, Serif; margin: 0 0 8pt; text-align: center"><B>DECEMBER 31, 2024 AND 2023</B></P></TD></TR></TABLE></DIV>
    <!-- Field: /Page -->


<P ID="xdx_232_zhlKfkF8k70e" STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0">&#160;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0"></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify"></P>

<P STYLE="font: 10pt/11pt Times New Roman, Times, Serif; margin: 0; text-align: justify">On May 7, 2024, a shareholder converted <FONT ID="xdx_906_eus-gaap--ConversionOfStockSharesConverted1_c20240506__20240507__srt--TitleOfIndividualAxis__custom--ShareholdersMember__us-gaap--StatementClassOfStockAxis__custom--ConvertibleSeriesDPreferredStockMember_pdd" TITLE="Converted shares">75</FONT> shares
of Series D Convertible Preferred Stock with a stated value of $<FONT ID="xdx_904_eus-gaap--ConversionOfStockAmountConverted1_c20240506__20240507__us-gaap--StatementClassOfStockAxis__custom--ConvertibleSeriesDPreferredStockMember_pp0p0" TITLE="Converted value">75,000</FONT> with a conversion price of $<FONT ID="xdx_90F_eus-gaap--PreferredStockConvertibleConversionPrice_c20240507__us-gaap--StatementClassOfStockAxis__custom--ConvertibleSeriesDPreferredStockMember_pdd" TITLE="Preferred stock conversion price">3.00</FONT> per common share resulting in
the issuance of <FONT ID="xdx_90A_eus-gaap--ConvertiblePreferredStockSharesIssuedUponConversion_c20240507__srt--TitleOfIndividualAxis__custom--OneShareholdersMember__us-gaap--StatementClassOfStockAxis__custom--ConvertibleSeriesDPreferredStockMember_pdd" TITLE="Converted shares issued">25,000</FONT> shares of the Company&#8217;s common stock.</P>

<P STYLE="font: 10pt/11pt Times New Roman, Times, Serif; margin: 0; text-align: justify">&#160;</P>

<P STYLE="font: 10pt/11pt Times New Roman, Times, Serif; margin: 0; text-align: justify">On May 17, 2024, the Company entered into an
At-the-Market Issuance Sales Agreement (the &#8220;Sales Agreement&#8221;) with Ascendiant Capital Markets, LLC, as sales agent (the &#8220;Agent&#8221;)
providing for the sale by the Company of shares of our common stock, having an aggregate offering price of up to $<FONT ID="xdx_900_eus-gaap--SaleOfStockConsiderationReceivedOnTransaction_c20240516__20240517__us-gaap--TransactionTypeAxis__custom--SalesAgreementMember_pp0p0" TITLE="Sale of Stock, Consideration Received on Transaction">7,500,000</FONT> from time
to time through the Agent in connection with an &#8220;at-the-market&#8221; equity offering program (the &#8220;ATM Offering&#8221;) as
defined in Rule 415 under the Securities Act of 1933, as amended (the &#8220;Securities Act&#8221;).</P>

<P STYLE="font: 10pt/11pt Times New Roman, Times, Serif; margin: 0; text-align: justify">&#160;</P>

<P STYLE="font: 10pt/11pt Times New Roman, Times, Serif; margin: 0; text-align: justify">On May 17, 2024, the Company filed a prospectus
supplement with the Securities and Exchange Commission (&#8220;SEC&#8221;) relating to the offer and sale of up to $7,500,000 of common
stock in the ATM Offering.</P>

<P STYLE="font: 10pt/11pt Times New Roman, Times, Serif; margin: 0; text-align: justify">&#160;</P>

<P STYLE="font: 10pt/11pt Times New Roman, Times, Serif; margin: 0; text-align: justify">During the three months ended June 30, 2024,
the Company issued an aggregate of <FONT ID="xdx_909_eus-gaap--StockIssuedDuringPeriodSharesNewIssues_c20240401__20240630__us-gaap--AwardTypeAxis__custom--AtTheMarketMember_pdd" TITLE="Number of shares issued, shares">38,530</FONT> shares of common stock through its At-The-Market (ATM) offering program, generating total net
proceeds of $<FONT ID="xdx_90B_eus-gaap--StockIssuedDuringPeriodValueNewIssues_c20240401__20240630__us-gaap--AwardTypeAxis__custom--AtTheMarketMember_pp0p0" TITLE="Total net proceeds">115,563</FONT>.</P>

<P STYLE="font: 10pt/11pt Times New Roman, Times, Serif; margin: 0; text-align: justify">&#160;</P>

<P STYLE="font: 10pt/11pt Times New Roman, Times, Serif; margin: 0; text-align: justify">During the three months ended June 30, 2024,
the Company issued <FONT ID="xdx_906_eus-gaap--StockIssuedDuringPeriodSharesIssuedForServices_c20240401__20240630__srt--TitleOfIndividualAxis__custom--ThreeDirectorsMember__us-gaap--StatementEquityComponentsAxis__us-gaap--CommonStockMember_pdd" TITLE="Stock issued for services , shares">15,041</FONT> shares of common stock for payment of board fees to four directors in the amount of $<FONT ID="xdx_909_eus-gaap--StockIssuedDuringPeriodValueIssuedForServices_c20240401__20240630__srt--TitleOfIndividualAxis__custom--ThreeDirectorsMember__us-gaap--StatementEquityComponentsAxis__us-gaap--CommonStockMember_pp0p0" TITLE="Stock issued for services, value">42,500</FONT> for services to
the board which was expensed during the three months ended June 30, 2024. The volume-weighted average price (VWAP) per share used to value
the services is $<FONT ID="xdx_90C_eus-gaap--ShareBasedCompensationArrangementByShareBasedPaymentAwardPerShareWeightedAveragePriceOfSharesPurchased_c20240630__srt--TitleOfIndividualAxis__custom--ThreeDirectorsMember__us-gaap--StatementEquityComponentsAxis__us-gaap--CommonStockMember_pdd" TITLE="Weighted average price per share">2.83</FONT>.</P>

<P STYLE="font: 10pt/11pt Times New Roman, Times, Serif; margin: 0; text-align: justify">&#160;</P>

<P STYLE="font: 10pt/11pt Times New Roman, Times, Serif; margin: 0; text-align: justify">On June 30, 2024, the Company issued <FONT ID="xdx_905_ecustom--StockIssuedUnderEmployeeStockPurchasePlanForCashAndCompensationShares_c20240101__20240630__us-gaap--PlanNameAxis__custom--EmployeeStockPurchasePlanMember_pdd" TITLE="Stock issued under the Employee Stock Purchase Plan, shares">38,041</FONT> shares
of common stock to employees participating in the Company&#8217;s Employee Stock Purchase Plan at the end of a six-month offering period.
The employee contributions totaled $<FONT ID="xdx_900_eus-gaap--ProceedsFromRepaymentOfLoansByEmployeeStockOwnershipPlans_c20240101__20240630__us-gaap--PlanNameAxis__custom--EmployeeStockPurchasePlanMember_pp0p0" TITLE="Employee contributions">87,348</FONT> for the six months ended June 30, 2024 which represented a purchase price of approximately
$<FONT ID="xdx_908_ecustom--PurchasePricePerShare_c20240630__us-gaap--PlanNameAxis__custom--EmployeeStockPurchasePlanMember_pdd" TITLE="Purchase price per share">2.30</FONT> per share and stock based compensation of $<FONT ID="xdx_902_eus-gaap--AllocatedShareBasedCompensationExpense_c20240101__20240630__us-gaap--PlanNameAxis__custom--EmployeeStockPurchasePlanMember_pp0p0" TITLE="Stock-based compensation expense">40,588</FONT> was recognized. The purchase price for one share of Common Stock under the ESPP
is equal to 85% of the fair market value of one share of Common Stock on the first trading day of the offering period or the purchase
date, whichever is lower (see below).</P>

<P STYLE="font: 10pt/11pt Times New Roman, Times, Serif; margin: 0; text-align: justify">&#160;</P>

<P STYLE="font: 10pt/11pt Times New Roman, Times, Serif; margin: 0; text-align: justify">On July 5, 2024, a shareholder converted <FONT ID="xdx_90A_eus-gaap--ConversionOfStockSharesConverted1_c20240701__20240705__srt--TitleOfIndividualAxis__custom--ShareholdersMember__us-gaap--StatementClassOfStockAxis__custom--ConvertibleSeriesDPreferredStockMember_pdd" TITLE="Converted shares">120</FONT>
shares of Series D Convertible Preferred Stock with a stated value of $<FONT ID="xdx_907_eus-gaap--ConversionOfStockAmountConverted1_c20240701__20240705__us-gaap--StatementClassOfStockAxis__custom--ConvertibleSeriesDPreferredStockMember_pp0p0" TITLE="Converted value">120,000</FONT> with a conversion price of $<FONT ID="xdx_90F_eus-gaap--PreferredStockConvertibleConversionPrice_c20240705__us-gaap--StatementClassOfStockAxis__custom--ConvertibleSeriesDPreferredStockMember_pdd" TITLE="Preferred stock conversion price">3.00</FONT> per common share resulting
in the issuance of <FONT ID="xdx_90A_eus-gaap--ConvertiblePreferredStockSharesIssuedUponConversion_c20240705__srt--TitleOfIndividualAxis__custom--OneShareholdersMember__us-gaap--StatementClassOfStockAxis__custom--ConvertibleSeriesDPreferredStockMember_pdd" TITLE="Converted shares issued">40,000</FONT> shares of the Company&#8217;s common stock.</P>

<P STYLE="font: 10pt/11pt Times New Roman, Times, Serif; margin: 0; text-align: justify">&#160;</P>

<P STYLE="font: 10pt/11pt Times New Roman, Times, Serif; margin: 0; text-align: justify">On September 19, 2024, the Company issued an
aggregate of <FONT ID="xdx_90D_eus-gaap--ClassOfWarrantOrRightNumberOfSecuritiesCalledByEachWarrantOrRight_iI_c20240919__us-gaap--LongtermDebtTypeAxis__custom--SecuredPromissoryNotesMember_zA3hmOmACJdc" TITLE="Class of Warrant or Right, Number of Securities Called by Each Warrant or Right"><FONT ID="xdx_905_eus-gaap--SharesIssued_iI_c20240919__us-gaap--LongtermDebtTypeAxis__custom--SecuredPromissoryNotesMember_z8U3ZBOTvpUe" TITLE="Share issued">344,644</FONT></FONT> shares of common stock, upon the exercise by 21 April Fund LP and 21 April Fund Ltd. (collectively, the &#8220;21
April Entities&#8221;) of warrants to purchase <FONT ID="xdx_90B_eus-gaap--ClassOfWarrantOrRightNumberOfSecuritiesCalledByEachWarrantOrRight_c20240919__us-gaap--LongtermDebtTypeAxis__custom--SecuredPromissoryNotesMember__srt--CounterpartyNameAxis__custom--N21AprilFundLPMember_pdd" TITLE="Class of Warrant or Right, Number of Securities Called by Each Warrant or Right">104,647</FONT> and <FONT ID="xdx_90A_eus-gaap--ClassOfWarrantOrRightNumberOfSecuritiesCalledByEachWarrantOrRight_c20240919__us-gaap--LongtermDebtTypeAxis__custom--SecuredPromissoryNotesMember__srt--CounterpartyNameAxis__custom--N21AprilFundLtdMember_pdd" TITLE="Class of Warrant or Right, Number of Securities Called by Each Warrant or Right">239,997</FONT> shares of Common Stock, respectively. In connection with such exercise,
the Company and the 21 April Entities agreed to reduce the exercise price of the warrants to $<FONT ID="xdx_905_eus-gaap--ClassOfWarrantOrRightExercisePriceOfWarrantsOrRights1_iI_c20240919__us-gaap--LongtermDebtTypeAxis__custom--SecuredPromissoryNotesMember_zSqgr8S8Gk7l" TITLE="Class of Warrant or Right, Exercise Price of Warrants or Rights">2.61</FONT> per share, and to remove any &#8220;blocker&#8221;
or similar provisions in the warrants. The Company received $<FONT ID="xdx_905_ecustom--WarrantsExercised_c20240901__20240919__us-gaap--LongtermDebtTypeAxis__custom--SecuredPromissoryNotesMember_pdd" TITLE="Warrants exercised">899,521</FONT> upon the exercise.</P>

<P STYLE="font: 10pt/11pt Times New Roman, Times, Serif; margin: 0; text-align: justify">&#160;</P>

<P STYLE="font: 10pt/11pt Times New Roman, Times, Serif; margin: 0; text-align: justify">During the three months ended September 30, 2024,
the Company issued <FONT ID="xdx_908_eus-gaap--StockIssuedDuringPeriodSharesIssuedForServices_c20240701__20240930__us-gaap--AwardTypeAxis__custom--AtTheMarketMember_pdd" TITLE="Stock issued for services , shares">14,433</FONT> shares of common stock for payment of board fees to four directors in the amount of $<FONT ID="xdx_908_eus-gaap--StockIssuedDuringPeriodValueIssuedForServices_c20240701__20240930__us-gaap--AwardTypeAxis__custom--AtTheMarketMember_pp0p0" TITLE="Stock issued for services, value">42,500</FONT> for services to
the board which was expensed during the three months ended September 30, 2024. The volume-weighted average price (VWAP) per share used
to value the services is $<FONT ID="xdx_90A_eus-gaap--ShareBasedCompensationArrangementByShareBasedPaymentAwardPerShareWeightedAveragePriceOfSharesPurchased_c20240930__us-gaap--AwardTypeAxis__custom--AtTheMarketMember_pdd" TITLE="Weighted average price per share">2.95</FONT>.</P>

<P STYLE="font: 10pt/11pt Times New Roman, Times, Serif; margin: 0; text-align: justify">&#160;</P>

<P STYLE="font: 10pt/11pt Times New Roman, Times, Serif; margin: 0; text-align: justify">During the three months ended September 30, 2024,
the Company issued an aggregate of <FONT ID="xdx_907_eus-gaap--StockIssuedDuringPeriodSharesNewIssues_c20240701__20240930__us-gaap--AwardTypeAxis__custom--AtTheMarketMember_pdd" TITLE="Number of shares issued, shares">28,514</FONT> shares of common stock through its At-The-Market (ATM) offering program, generating total net
proceeds of $<FONT ID="xdx_905_eus-gaap--StockIssuedDuringPeriodValueNewIssues_c20240701__20240930__us-gaap--AwardTypeAxis__custom--AtTheMarketMember_pp0p0" TITLE="Total net proceeds">81,448</FONT>.</P>

<P STYLE="font: 10pt/11pt Times New Roman, Times, Serif; margin: 0; text-align: justify">&#160;</P>

<P STYLE="font: 10pt/11pt Times New Roman, Times, Serif; margin: 0; text-align: justify">On October 2, 2024, two holders of Series E Preferred
stock converted an aggregate of <FONT ID="xdx_90A_eus-gaap--ConversionOfStockSharesConverted1_c20241001__20241002__us-gaap--StatementClassOfStockAxis__us-gaap--SeriesEPreferredStockMember_pdd" TITLE="Converted shares">52</FONT> shares of Series E Preferred Stock into <FONT ID="xdx_909_eus-gaap--StockIssuedDuringPeriodSharesNewIssues_c20241001__20241002__us-gaap--StatementEquityComponentsAxis__us-gaap--CommonStockMember_pdd" TITLE="Number of shares issued, shares">19,922</FONT> shares of common stock.</P>

<P STYLE="font: 10pt/11pt Times New Roman, Times, Serif; margin: 0; text-align: justify">&#160;</P>

<P STYLE="font: 10pt/11pt Times New Roman, Times, Serif; margin: 0; text-align: justify">On October 8, 2024, two holders of Series E Preferred
Stock converted an aggregate of <FONT ID="xdx_900_eus-gaap--ConversionOfStockSharesConverted1_c20241001__20241008__us-gaap--StatementClassOfStockAxis__us-gaap--SeriesEPreferredStockMember_pdd" TITLE="Converted shares">73</FONT> shares of Series E Preferred Stock into <FONT ID="xdx_904_eus-gaap--StockIssuedDuringPeriodSharesNewIssues_c20241001__20241008__us-gaap--StatementEquityComponentsAxis__us-gaap--CommonStockMember_pdd" TITLE="Number of shares issued, shares">27,970</FONT> shares of common stock.</P>

<P STYLE="font: 10pt/11pt Times New Roman, Times, Serif; margin: 0; text-align: justify">&#160;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify">On October 24, 2024, a holder of Series D Preferred Stock converted
<FONT ID="xdx_90D_eus-gaap--ConversionOfStockSharesConverted1_c20241001__20241024__us-gaap--StatementClassOfStockAxis__us-gaap--SeriesDPreferredStockMember_pdd" TITLE="Converted shares">100</FONT> shares of Series D Preferred Stock into <FONT ID="xdx_906_eus-gaap--StockIssuedDuringPeriodSharesNewIssues_c20241001__20241024__us-gaap--StatementEquityComponentsAxis__us-gaap--CommonStockMember_pdd" TITLE="Number of shares issued, shares">33,334</FONT> shares of common stock.</P>

<P STYLE="font: 10pt/11pt Times New Roman, Times, Serif; margin: 0; text-align: justify">&#160;</P>

<P STYLE="font: 10pt/11pt Times New Roman, Times, Serif; margin: 0; text-align: justify">On December 31, 2024, the Company issued <FONT ID="xdx_904_eus-gaap--StockIssuedDuringPeriodSharesNewIssues_c20240101__20241231__srt--CounterpartyNameAxis__custom--EmployeesMember_pdd" TITLE="Number of shares issued, shares">31,366</FONT>
shares of common stock to employees participating in the Company&#8217;s Employee Stock Purchase Plan at the end of a six-month offering
period. The employee contributions totaled $<FONT ID="xdx_904_eus-gaap--StockIssuedDuringPeriodValueNewIssues_c20240101__20241231__srt--CounterpartyNameAxis__custom--EmployeesMember_pp0p0" TITLE="Total net proceeds">78,917</FONT> for the six months ended December 31, 2024 which represented a purchase price of approximately
$<FONT ID="xdx_90A_eus-gaap--ShareBasedCompensationArrangementByShareBasedPaymentAwardPerShareWeightedAveragePriceOfSharesPurchased_c20241231__srt--CounterpartyNameAxis__custom--EmployeesMember_pdd" TITLE="Weighted average price per share">2.52</FONT> per share and stock based compensation of $<FONT ID="xdx_90D_eus-gaap--AllocatedShareBasedCompensationExpense_c20240101__20241231__srt--CounterpartyNameAxis__custom--EmployeesMember_pp0p0" TITLE="Stock-based compensation expense">42,238</FONT> was recognized. The purchase price for one share of Common Stock under the ESPP
is equal to 85% of the fair market value of one share of Common Stock on the first trading day of the offering period or the purchase
date, whichever is lower (see below).</P>

<P STYLE="font: 10pt/11pt Times New Roman, Times, Serif; margin: 0; text-align: justify">&#160;</P>

<P STYLE="font: 10pt/11pt Times New Roman, Times, Serif; margin: 0; text-align: justify">During the three months ended December 31, 2024,
the Company issued <FONT ID="xdx_907_eus-gaap--StockIssuedDuringPeriodSharesIssuedForServices_c20241001__20241231__us-gaap--AwardTypeAxis__custom--AtTheMarketMember_pdd" TITLE="Stock issued for services , shares">7,182</FONT> shares of common stock for payment of board fees to four directors in the amount of $<FONT ID="xdx_905_eus-gaap--StockIssuedDuringPeriodValueIssuedForServices_c20241001__20241231__us-gaap--AwardTypeAxis__custom--AtTheMarketMember_pp0p0" TITLE="Stock issued for services, value">42,500</FONT> for services to the
board which was expensed during the three months ended December 31, 2024. The volume-weighted average price (VWAP) per share used to value
the services is $<FONT ID="xdx_90F_eus-gaap--ShareBasedCompensationArrangementByShareBasedPaymentAwardPerShareWeightedAveragePriceOfSharesPurchased_c20241231__us-gaap--AwardTypeAxis__custom--AtTheMarketMember_pdd" TITLE="Weighted average price per share">5.92</FONT>.</P>

<P STYLE="font: 10pt/11pt Times New Roman, Times, Serif; margin: 0; text-align: justify">&#160;</P>

<P STYLE="font: 10pt/11pt Times New Roman, Times, Serif; margin: 0; text-align: justify">During the three months ended December 31,
2024, the Company issued an aggregate of <FONT ID="xdx_90C_eus-gaap--StockIssuedDuringPeriodSharesNewIssues_c20240101__20241231__us-gaap--AwardTypeAxis__custom--AtTheMarketMember_pdd" TITLE="Number of shares issued, shares">751,613</FONT>
shares of common stock through its At-The-Market (ATM) offering program, generating total gross proceeds of approximately $<FONT ID="xdx_903_eus-gaap--StockIssuedDuringPeriodValueNewIssues_c20240101__20241231__us-gaap--AwardTypeAxis__custom--AtTheMarketMember_pp0p0" TITLE="Total net proceeds">3,347,678</FONT>.</P>

<P STYLE="font: 10pt/11pt Times New Roman, Times, Serif; margin: 0; text-align: justify">&#160;</P>

<P ID="xdx_230_ziCjSnWVgeHi" STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify">&#160;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify"></P>

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<P ID="xdx_231_zrJ8NsUfBPjg" STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify">&#160;</P>

<P STYLE="font: 10pt/11pt Times New Roman, Times, Serif; margin: 0; text-align: justify"><B><FONT STYLE="text-decoration: underline">2023 Transactions</FONT></B></P>

<P STYLE="font: 10pt/11pt Times New Roman, Times, Serif; margin: 0; text-align: justify">&#160;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify">During the three months ended March 31, 2023, the
Company issued <FONT ID="xdx_90E_eus-gaap--StockIssuedDuringPeriodSharesIssuedForServices_c20230101__20230331__srt--TitleOfIndividualAxis__custom--ThreeDirectorsMember__us-gaap--StatementEquityComponentsAxis__us-gaap--CommonStockMember_pdd" TITLE="Stock issued for services , shares">12,463</FONT> shares of common stock for payment of board fees to three directors in the amount of $<FONT ID="xdx_90E_eus-gaap--StockIssuedDuringPeriodValueIssuedForServices_c20230101__20230331__srt--TitleOfIndividualAxis__custom--ThreeDirectorsMember__us-gaap--StatementEquityComponentsAxis__us-gaap--CommonStockMember_pp0p0" TITLE="Stock issued for services, value">32,500</FONT> for services to the
board which was expensed during the three months ended March 31, 2023. The volume-weighted average price (VWAP) per share used to value
the services is $<FONT ID="xdx_90B_eus-gaap--ShareBasedCompensationArrangementByShareBasedPaymentAwardPerShareWeightedAveragePriceOfSharesPurchased_c20230331__srt--TitleOfIndividualAxis__custom--ThreeDirectorsMember__us-gaap--StatementEquityComponentsAxis__us-gaap--CommonStockMember_pdd" TITLE="Weighted average price per share">2.61</FONT>.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify">&#160;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify">During the three months ended June 30, 2023, the Company
issued <FONT ID="xdx_909_eus-gaap--StockIssuedDuringPeriodSharesIssuedForServices_c20230401__20230630__srt--TitleOfIndividualAxis__custom--ThreeDirectorsMember__us-gaap--StatementEquityComponentsAxis__us-gaap--CommonStockMember_pdd" TITLE="Stock issued for services , shares">5,645</FONT> shares of common stock for payment of board fees to three directors in the amount of $<FONT ID="xdx_90B_eus-gaap--StockIssuedDuringPeriodValueIssuedForServices_c20230401__20230630__srt--TitleOfIndividualAxis__custom--ThreeDirectorsMember__us-gaap--StatementEquityComponentsAxis__us-gaap--CommonStockMember_pp0p0" TITLE="Stock issued for services, value">32,500</FONT> for services to the board which
was expensed during the three months ended June 30, 2023. The volume-weighted average price (VWAP) per share used to value the services
is $<FONT ID="xdx_90D_eus-gaap--ShareBasedCompensationArrangementByShareBasedPaymentAwardPerShareWeightedAveragePriceOfSharesPurchased_c20230630__srt--TitleOfIndividualAxis__custom--ThreeDirectorsMember__us-gaap--StatementEquityComponentsAxis__us-gaap--CommonStockMember_pdd" TITLE="Weighted average price per share">5.76</FONT>.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify">&#160;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify">On June 30, 2023, the Company issued <FONT ID="xdx_90B_ecustom--StockIssuedUnderEmployeeStockPurchasePlanForCashAndCompensationShares_c20230101__20230630__us-gaap--PlanNameAxis__custom--EmployeeStockPurchasePlanMember_pdd" TITLE="Stock issued under the Employee Stock Purchase Plan, shares">65,561</FONT> shares
of common stock to employees participating in the Company&#8217;s Employee Stock Purchase Plan at the end of a six-month offering period.
The employee contributions totaled $<FONT ID="xdx_90E_eus-gaap--ProceedsFromRepaymentOfLoansByEmployeeStockOwnershipPlans_c20230101__20230630__us-gaap--PlanNameAxis__custom--EmployeeStockPurchasePlanMember_pp0p0" TITLE="Employee contributions">117,048</FONT> for the six months ended June 30, 2023 and represented a purchase price of $<FONT ID="xdx_909_ecustom--PurchasePricePerShare_c20230630__us-gaap--PlanNameAxis__custom--EmployeeStockPurchasePlanMember_pdd" TITLE="Purchase price per share">1.79</FONT> per share
and stock based compensation of $<FONT ID="xdx_900_eus-gaap--AllocatedShareBasedCompensationExpense_c20230101__20230630__us-gaap--PlanNameAxis__custom--EmployeeStockPurchasePlanMember_pp0p0" TITLE="Stock-based compensation expense">66,217</FONT> was recognized. The purchase price for one share of Common Stock under the ESPP is equal to 85%
of the fair market value of one share of Common Stock on the first trading day of the offering period or the purchase date, whichever
is lower (see below).&#160;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify">&#160;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify">During the three months ended September 30, 2023,
the Company issued <FONT ID="xdx_902_eus-gaap--StockIssuedDuringPeriodSharesIssuedForServices_c20230701__20230930__srt--TitleOfIndividualAxis__custom--ThreeDirectorsMember__us-gaap--StatementEquityComponentsAxis__us-gaap--CommonStockMember_pdd" TITLE="Stock issued for services , shares">7,910</FONT> shares of common stock for payment of board fees to four directors in the amount of $<FONT ID="xdx_906_eus-gaap--StockIssuedDuringPeriodValueIssuedForServices_c20230701__20230930__srt--TitleOfIndividualAxis__custom--ThreeDirectorsMember__us-gaap--StatementEquityComponentsAxis__us-gaap--CommonStockMember_pp0p0" TITLE="Stock issued for services, value">40,565</FONT> for services to the
board which was expensed during the three months ended September 30, 2023. The volume-weighted average price (VWAP) per share used to
value the services is $<FONT ID="xdx_90E_eus-gaap--ShareBasedCompensationArrangementByShareBasedPaymentAwardPerShareWeightedAveragePriceOfSharesPurchased_c20230930__srt--TitleOfIndividualAxis__custom--ThreeDirectorsMember__us-gaap--StatementEquityComponentsAxis__us-gaap--CommonStockMember_pdd" TITLE="Weighted average price per share">5.13</FONT></P>

<P STYLE="font: 10pt/11pt Times New Roman, Times, Serif; margin: 0; text-align: justify">&#160;&#160;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify">During the three months ended December 31, 2023, the
Company issued <FONT ID="xdx_900_eus-gaap--StockIssuedDuringPeriodSharesIssuedForServices_c20231001__20231231__srt--TitleOfIndividualAxis__custom--FourDirectorsMember__us-gaap--StatementEquityComponentsAxis__us-gaap--CommonStockMember_pdd" TITLE="Stock issued for services , shares">12,231</FONT> shares of common stock for payment of board fees to four directors in the amount of $<FONT ID="xdx_900_eus-gaap--StockIssuedDuringPeriodValueIssuedForServices_c20231001__20231231__srt--TitleOfIndividualAxis__custom--FourDirectorsMember__us-gaap--StatementEquityComponentsAxis__us-gaap--CommonStockMember_pp0p0" TITLE="Stock issued for services, value">37,500</FONT> for services to the
board which was expensed during the three months ended December 31, 2023. The volume-weighted average price (VWAP) per share used to value
the services is $<FONT ID="xdx_90B_eus-gaap--ShareBasedCompensationArrangementByShareBasedPaymentAwardPerShareWeightedAveragePriceOfSharesPurchased_c20231231__srt--TitleOfIndividualAxis__custom--ThreeDirectorsMember__us-gaap--StatementEquityComponentsAxis__us-gaap--CommonStockMember_pdd" TITLE="Weighted average price per share">3.06</FONT></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify">&#160;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify">On December 29, 2023, the Company issued <FONT ID="xdx_90F_eus-gaap--StockIssuedDuringPeriodSharesNewIssues_c20231201__20231229__srt--TitleOfIndividualAxis__custom--EmployeesMember_pdd" TITLE="Number of shares issued, shares">45,977</FONT> shares
of common stock to employees participating in the Company&#8217;s Employee Stock Purchase Plan at the end of a six-month offering period.
The employee contributions totaled $<FONT ID="xdx_90D_eus-gaap--StockIssuedDuringPeriodValueNewIssues_c20231201__20231229__srt--TitleOfIndividualAxis__custom--EmployeesMember_pp0p0" TITLE="Total net proceeds">113,352</FONT> for the six months ended December 29, 2023 and represented a purchase price of $<FONT ID="xdx_909_eus-gaap--ShareBasedCompensationArrangementByShareBasedPaymentAwardPerShareWeightedAveragePriceOfSharesPurchased_c20231229__srt--TitleOfIndividualAxis__custom--EmployeesMember_pdd" TITLE="Weighted average price per share">2.47</FONT> per share
and stock based compensation of $<FONT ID="xdx_904_eus-gaap--AllocatedShareBasedCompensationExpense_c20231201__20231229__srt--TitleOfIndividualAxis__custom--EmployeesMember_pp0p0" TITLE="Stock-based compensation expense">70,434</FONT> was recognized. The purchase price for one share of Common Stock under the ESPP is equal to 85%
of the fair market value of one share of Common Stock on the first trading day of the offering period or the purchase date, whichever
is lower (see below).</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify">&#160;</P>

<P STYLE="font: 10pt/11pt Times New Roman, Times, Serif; margin: 0; text-align: justify"><B><FONT STYLE="text-decoration: underline">Employee Stock Purchase Plan</FONT></B></P>

<P STYLE="font: 10pt/11pt Times New Roman, Times, Serif; margin: 0; text-align: justify">&#160;</P>

<P STYLE="font: 10pt/11pt Times New Roman, Times, Serif; margin: 0; text-align: justify">In the fourth quarter of 2022, the board of directors
adopted an Employee Stock Purchase Plan (&#8220;ESPP&#8221;) which, was effective as of January 1, 2023 with a term of 10 years. <FONT ID="xdx_905_eus-gaap--ShareBasedCompensationArrangementByShareBasedPaymentAwardDescription_c20240101__20240630__us-gaap--PlanNameAxis__custom--EmployeeStockPurchasePlanMember" TITLE="Plan, description">The ESPP
allows eligible employees to purchase shares of the Company's common stock at a discounted price, through payroll deductions from a minimum
of 1% and up to 25% of their eligible compensation up to a maximum of $25,000 or the IRS allowable limit per calendar year.</FONT> The Company&#8217;s
Chief Financial Officer administers the ESPP in conjunction with approvals from the Company&#8217;s Compensation Committee, including
with respect to the frequency and duration of offering periods, the maximum number of shares that an eligible employee may purchase during
an offering period, and, subject to certain limitations set forth in the ESPP, the per-share purchase price. Currently, the maximum number
of shares that can be purchased by an eligible employee under the ESPP is 10,000 shares per offering period and there are two six-month
offering periods that begin in the first and third quarters of each fiscal year. The purchase price for one share of Common Stock under
the ESPP is currently equal to 85% of the fair market value of one share of Common Stock on the first trading day of the offering period
or the purchase date, whichever is lower (look-back feature). Although not required by the ESPP, all payroll deductions received or held
by the Company under the ESPP are segregated and deemed as &#8220;restricted cash&#8221; until the completion of the offering period and
redemption of the applicable shares and those withheld amounts are recorded as liabilities. The maximum aggregate number of shares of
the Common Stock that may be issued under the ESPP is <FONT ID="xdx_908_eus-gaap--CommonStockCapitalSharesReservedForFutureIssuance_c20240630__us-gaap--PlanNameAxis__custom--EmployeeStockPurchasePlanMember_pdd" TITLE="Maximum aggregate number of shares of common stock">1,000,000</FONT> shares.</P>

<P STYLE="font: 10pt/11pt Times New Roman, Times, Serif; margin: 0; text-align: justify">&#160;</P>

<P STYLE="font: 10pt/11pt Times New Roman, Times, Serif; margin: 0; text-align: justify">Under ASC 718-50 &#8220;Employee Share Purchase
Plans&#8221; the plan is considered a compensatory plan and the compensation for each six-month offering period is computed based upon
the grant date fair value of the estimated shares to be purchased based on the estimated payroll deduction withholdings. The grant date
fair value was computed as the sum of (a) 15% purchase discount off of the grant date quoted trading price of the Company&#8217;s common
stock and (b) the fair value of the look-back feature of the Company&#8217;s common stock on the grant date which consists of a call option
on 85% of a share of common stock and a put option on 15% of a share of common stock.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify">&#160;</P>

<P ID="xdx_231_zldy2nZ3UbZj" STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify">&#160;</P>

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<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify"></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify"></P>

<P ID="xdx_234_znLDjUU2Lsjk" STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify">&#160;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify">In the year ended December 31, 2024, the Company
issued an aggregate of <FONT ID="xdx_900_eus-gaap--ShareBasedCompensationArrangementByShareBasedPaymentAwardSharesIssuedInPeriod_c20240101__20241231__us-gaap--PlanNameAxis__custom--EmployeeStockPurchasePlanMember_pdd" TITLE="Issued shares">69,407</FONT> shares of common stock related to two transactions. For the six months ended June 30, 2024, the employee
contributions for the first ESPP tranche totaled $<FONT ID="xdx_908_eus-gaap--ShareBasedCompensationArrangementByShareBasedPaymentAwardAcceleratedCompensationCost_c20240101__20240630__us-gaap--PlanNameAxis__custom--EmployeeStockPurchasePlanMember__us-gaap--VestingAxis__us-gaap--ShareBasedCompensationAwardTrancheOneMember_pp0p0" TITLE="Employee contributions">87,348</FONT> and represented a purchase price of $<FONT ID="xdx_90E_eus-gaap--SharePrice_c20240630__us-gaap--PlanNameAxis__custom--EmployeeStockPurchasePlanMember__us-gaap--VestingAxis__us-gaap--ShareBasedCompensationAwardTrancheOneMember_pdd" TITLE="Share price">2.30</FONT> per share for <FONT ID="xdx_90C_eus-gaap--ShareBasedCompensationArrangementByShareBasedPaymentAwardSharesIssuedInPeriod_c20240101__20240630__us-gaap--PlanNameAxis__custom--EmployeeStockPurchasePlanMember__us-gaap--VestingAxis__us-gaap--ShareBasedCompensationAwardTrancheOneMember_pdd" TITLE="Issued shares">38,041</FONT> shares. For the
six-month period beginning July 1, 2024 and ending December 31, 2024 the employee contributions for the second ESPP tranche totaled $<FONT ID="xdx_905_eus-gaap--ShareBasedCompensationArrangementByShareBasedPaymentAwardAcceleratedCompensationCost_c20240701__20241231__us-gaap--PlanNameAxis__custom--EmployeeStockPurchasePlanMember__us-gaap--VestingAxis__us-gaap--ShareBasedCompensationAwardTrancheTwoMember_pp0p0" TITLE="Employee contributions">78,917</FONT>
and represented a purchase price of $<FONT ID="xdx_905_eus-gaap--SharePrice_c20241231__us-gaap--PlanNameAxis__custom--EmployeeStockPurchasePlanMember__us-gaap--VestingAxis__us-gaap--ShareBasedCompensationAwardTrancheTwoMember_pdd" TITLE="Share price">2.52</FONT> per share for<FONT ID="xdx_901_eus-gaap--ShareBasedCompensationArrangementByShareBasedPaymentAwardSharesIssuedInPeriod_c20240701__20241231__us-gaap--PlanNameAxis__custom--EmployeeStockPurchasePlanMember__us-gaap--VestingAxis__us-gaap--ShareBasedCompensationAwardTrancheTwoMember_pdd" TITLE="Issued shares"> 31,366</FONT> shares.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify">&#160;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify">In the year ended December 31, 2023, the Company
issued an aggregate of <FONT ID="xdx_902_eus-gaap--ShareBasedCompensationArrangementByShareBasedPaymentAwardSharesIssuedInPeriod_c20230101__20231231__us-gaap--PlanNameAxis__custom--EmployeeStockPurchasePlanMember_pdd" TITLE="Issued shares">111,538</FONT> shares of common stock related to two transactions. For the six months ended June 30, 2023, the employee
contributions for the first ESPP tranche totaled $<FONT ID="xdx_90A_eus-gaap--ShareBasedCompensationArrangementByShareBasedPaymentAwardAcceleratedCompensationCost_c20230101__20230630__us-gaap--PlanNameAxis__custom--EmployeeStockPurchasePlanMember__us-gaap--VestingAxis__us-gaap--ShareBasedCompensationAwardTrancheOneMember_pp0p0" TITLE="Employee contributions">117,048</FONT> and represented a purchase price of $<FONT ID="xdx_90F_eus-gaap--SharePrice_c20230630__us-gaap--PlanNameAxis__custom--EmployeeStockPurchasePlanMember__us-gaap--VestingAxis__us-gaap--ShareBasedCompensationAwardTrancheOneMember_pdd" TITLE="Share price">1.79</FONT> per share for <FONT ID="xdx_90E_eus-gaap--ShareBasedCompensationArrangementByShareBasedPaymentAwardSharesIssuedInPeriod_c20230101__20230630__us-gaap--PlanNameAxis__custom--EmployeeStockPurchasePlanMember__us-gaap--VestingAxis__us-gaap--ShareBasedCompensationAwardTrancheOneMember_pdd" TITLE="Issued shares">65,561</FONT> shares. For the
six-month period beginning July 1, 2023 and ending December 31, 2023 the employee contributions for the second ESPP tranche totaled $<FONT ID="xdx_907_eus-gaap--ShareBasedCompensationArrangementByShareBasedPaymentAwardAcceleratedCompensationCost_c20230701__20231231__us-gaap--PlanNameAxis__custom--EmployeeStockPurchasePlanMember__us-gaap--VestingAxis__us-gaap--ShareBasedCompensationAwardTrancheTwoMember_pp0p0" TITLE="Employee contributions">113,352</FONT>
and represented a purchase price of $<FONT ID="xdx_904_eus-gaap--SharePrice_c20231231__us-gaap--PlanNameAxis__custom--EmployeeStockPurchasePlanMember__us-gaap--VestingAxis__us-gaap--ShareBasedCompensationAwardTrancheTwoMember_pdd" TITLE="Share price">2.47</FONT> per share for <FONT ID="xdx_903_eus-gaap--ShareBasedCompensationArrangementByShareBasedPaymentAwardSharesIssuedInPeriod_c20230701__20231231__us-gaap--PlanNameAxis__custom--EmployeeStockPurchasePlanMember__us-gaap--VestingAxis__us-gaap--ShareBasedCompensationAwardTrancheTwoMember_pdd" TITLE="Issued shares">45,977</FONT> shares.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify">&#160;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify"><B><FONT STYLE="text-decoration: underline">Stock-Based Compensation</FONT></B></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify"><B>&#160;</B></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify">Stock-based compensation expense recognized under
ASC 718-10 for the years ended December 31, 2024 and 2023, was $<FONT ID="xdx_906_eus-gaap--AllocatedShareBasedCompensationExpense_c20240101__20241231__srt--TitleOfIndividualAxis__custom--EmployeesAndDirectorsMember_pp0p0" TITLE="Stock-based compensation expense">26,154</FONT> and $<FONT ID="xdx_901_eus-gaap--AllocatedShareBasedCompensationExpense_pp0p0_c20230101__20231231__srt--TitleOfIndividualAxis__custom--EmployeesAndDirectorsMember_zOdSyCbUO4T8" TITLE="Stock-based compensation expense">573,441</FONT>, respectively, for stock options granted to employees
and directors. This expense is included in selling, general and administrative expenses in the consolidated statements of operations.
Stock-based compensation expense recognized during the periods is based on the grant date fair value of the portion of share-based payment
awards that is ultimately expected to vest during the period. At December 31, 2024, the total compensation cost for stock options that
was not yet recognized was $<FONT ID="xdx_90D_ecustom--EmployeeServiceShareBasedCompensationNonvestedAwardsTotalCompensationCostNotYetRecognizedPeriod2_c20241231_pp0p0" TITLE="Total compensation cost for stock options">64,034</FONT>. This cost will be recognized over the remaining vesting term of the options ranging from <FONT ID="xdx_906_eus-gaap--ShareBasedCompensationArrangementByShareBasedPaymentAwardAwardVestingPeriod1_dtM_c20240101__20241231__srt--RangeAxis__srt--MinimumMember_zvnnPbaXqCLd" TITLE="Vesting term">7</FONT> months
to <FONT ID="xdx_901_eus-gaap--ShareBasedCompensationArrangementByShareBasedPaymentAwardAwardVestingPeriod1_dtY_c20240101__20241231__srt--RangeAxis__srt--MaximumMember_zKPMVmb7Rwpa" TITLE="Vesting term">1.0</FONT> year.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify"><B>&#160;</B></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify"><B><FONT STYLE="text-decoration: underline">Treasury Stock</FONT></B></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify">&#160;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify">In August 2016, the Company&#8217;s Board of
Directors approved a new class of Preferred Stock, &#8220;Series A&#8221;. For shareholders who invested in previous private placements,
the Company was offering on a case-by-case basis, the ability to convert the existing amount invested into an equivalent amount in the
Series A on the condition that they invest an equivalent additional amount in the Series A. In December of 2017, the Company redeemed
all of the Series A and continues to hold<FONT ID="xdx_90F_eus-gaap--TreasuryStockCommonShares_c20171231_pdd" TITLE="Treasury stock shares"> 235</FONT> shares purchased for $<FONT ID="xdx_90D_eus-gaap--TreasuryStockCommonValue_c20171231_pp0p0" TITLE="Treasury stock">148,000</FONT> as a part of the original transaction. In December 2018, the
Company entered into an agreement with two shareholders to purchase shares from them at fair market value. The Company purchased <FONT ID="xdx_90D_eus-gaap--PaymentsForRepurchaseOfCommonStock_c20180101__20181231__us-gaap--RelatedPartyTransactionAxis__custom--ShareholdersOneMember_pp0p0" TITLE="Repurchase of common stock">84</FONT> shares
at $<FONT ID="xdx_909_eus-gaap--AcceleratedShareRepurchasesFinalPricePaidPerShare_c20180101__20181231__us-gaap--RelatedPartyTransactionAxis__custom--ShareholdersOneMember_pdd" TITLE="Market value of stock repurchased">7.00</FONT> per shares and <FONT ID="xdx_904_eus-gaap--PaymentsForRepurchaseOfCommonStock_c20180101__20181231__us-gaap--RelatedPartyTransactionAxis__custom--ShareholdersTwoMember_pp0p0" TITLE="Repurchase of common stock">140</FONT> shares at $<FONT ID="xdx_903_eus-gaap--AcceleratedShareRepurchasesFinalPricePaidPerShare_c20180101__20181231__us-gaap--RelatedPartyTransactionAxis__custom--ShareholdersTwoMember_pdd" TITLE="Market value of stock repurchased">6.30</FONT> per share. In 2019, the Company entered into an agreement with two shareholders to purchase
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<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify"><B>&#160;</B></P>

<P ID="xdx_80D_eus-gaap--DisclosureOfCompensationRelatedCostsShareBasedPaymentsTextBlock_zHAxfA1QIms8" STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify"><B>NOTE 15 &#8211; <FONT ID="xdx_826_zPShT4eYnJni">COMMON STOCK OPTIONS AND WARRANTS</FONT>
</B></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify"><B>&#160;</B></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify"><B><FONT STYLE="text-decoration: underline">Options</FONT></B></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify">&#160;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify"><B>2024</B></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify">&#160;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify">The Company did not issue any new stock options in
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three former employees forfeited a total of <FONT ID="xdx_907_eus-gaap--ShareBasedCompensationArrangementByShareBasedPaymentAwardEquityInstrumentsOtherThanOptionsForfeitedInPeriod_c20240701__20240930__us-gaap--AwardTypeAxis__custom--OptionsMember_pdd" TITLE="Non-qualified stock options, forfeited">81,837</FONT> stock options due to their departures. In the fourth quarter of 2024, the management
team forfeited <FONT ID="xdx_90A_eus-gaap--ShareBasedCompensationArrangementByShareBasedPaymentAwardEquityInstrumentsOtherThanOptionsForfeitedInPeriod_c20241001__20241231__us-gaap--AwardTypeAxis__custom--OptionsMember_pdd" TITLE="Non-qualified stock options, forfeited">551,898</FONT> stock options as a condition of entering into new employment agreements whereby they will be granted a total of <FONT ID="xdx_90A_eus-gaap--ShareBasedCompensationArrangementByShareBasedPaymentAwardOptionsGrantsInPeriodGross_c20250101__20250331__us-gaap--AwardTypeAxis__custom--OptionsMember_pdd" TITLE="Stock option granted">1,901,898</FONT>
shares of restricted stock with 3-year cliff vesting to be granted in the first quarter of 2025. Additionally, in the fourth quarter of
2024, a former executive forfeited <FONT ID="xdx_906_eus-gaap--ShareBasedCompensationArrangementByShareBasedPaymentAwardOptionsGrantsInPeriodGross_c20241001__20241231__us-gaap--AwardTypeAxis__custom--OptionsMember__us-gaap--RelatedPartyTransactionsByRelatedPartyAxis__custom--FormerStaffMember_pdd" TITLE="Stock option granted">100,716</FONT> stock options (see Note 12).</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify"><B>&#160;</B></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify"><B>2023</B></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify">&#160;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify">During the second quarter of 2023, the Company&#8217;s
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award and carry a three-year vesting period. The issuance of these options generated stock option compensation expense in the year in
the amount of $<FONT ID="xdx_901_eus-gaap--AllocatedShareBasedCompensationExpense_c20230401__20230630__srt--TitleOfIndividualAxis__srt--ManagementMember_pp0p0" TITLE="Stock-based compensation expense">269,611</FONT> and a balance of unamortized stock option compensation expense of $458,389, that is being expensed over the following
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<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify">&#160;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify">During the first quarter of 2023, two former staff
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<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify">&#160;</P>

<P ID="xdx_231_zthbPI8SSNGk" STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify">&#160;</P>


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<P ID="xdx_23C_zzPgm5dtRkC" STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0">&#160;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0"></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify">During the third quarter of 2021, the shareholders
approved the issuance of up to one million shares or share equivalents in the form of stock options for the purposes of share issuance
for compensation to Board Members and grants to certain staff members for recruiting and retention. On August 5, 2021, the Company filed
an S-8 registration statement in concert with the 2021 Equity Incentive Plan. The plan covers a period of ten years. Additional S-8 registrations
were filed on October 9, 2024 and February 5, 2025. On September 30, 2024, the shareholders approved an increase in the shares of Common
Stock available under the 2021 Plan to <FONT ID="xdx_906_eus-gaap--CommonStockCapitalSharesReservedForFutureIssuance_iI_c20250202__us-gaap--PlanNameAxis__custom--EquityIncentivePlan2021Member_zoKvpvLUUC95" TITLE="Stock available for reserve">2,500,000</FONT> and beginning as of February 1, 2025, and for each February 1<SUP>st</SUP> thereafter
to the greater of 2,500,000 or a number of shares based on a formula tied to the Company&#8217;s fully diluted common equivalent share
capitalization, excluding warrants and options.</P>

<TABLE CELLPADDING="0" CELLSPACING="0" ID="xdx_884_eus-gaap--ScheduleOfShareBasedCompensationStockOptionsActivityTableTextBlock_zw8m6tRkHr6b" SUMMARY="xdx: Disclosure - COMMON STOCK OPTIONS AND WARRANTS (Details - Options activity)" STYLE="font: 11pt Arial, Helvetica, Sans-Serif; border-collapse: collapse; width: 100%">
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  <TD COLSPAN="2" STYLE="padding-bottom: 1pt; vertical-align: top; text-align: center"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 8pt"><B>&#160;<BR>
  &#160;<BR>
  &#160;<BR>
  &#160;<BR>
  &#160;</B></FONT></TD>
  <TD STYLE="padding-bottom: 1pt; text-align: center"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 8pt"><B>&#160;<BR>
  &#160;<BR>
  &#160;<BR>
  &#160;<BR>
  &#160;</B></FONT></TD>
  <TD STYLE="padding-bottom: 1pt; text-align: center"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 8pt"><B>&#160;<BR>
  &#160;<BR>
  &#160;<BR>
  &#160;<BR>
  &#160;</B></FONT></TD>
  <TD COLSPAN="2" STYLE="border-bottom: Black 1pt solid; text-align: center"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 8pt"><B>&#160;<BR>
  &#160;<BR>
  &#160;<BR>
  &#160;<BR>
  Shares</B></FONT></TD>
  <TD STYLE="padding-bottom: 1pt; text-align: center"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 8pt"><B>&#160;<BR>
  &#160;<BR>
  &#160;<BR>
  &#160;<BR>
  &#160;</B></FONT></TD>
  <TD STYLE="padding-bottom: 1pt; text-align: center"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 8pt"><B>&#160;<BR>
  &#160;<BR>
  &#160;<BR>
  &#160;<BR>
  &#160;</B></FONT></TD>
  <TD COLSPAN="2" STYLE="border-bottom: Black 1pt solid; text-align: center"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 8pt"><B>&#160;<BR>
  Weighted<BR>
  Average<BR>
  Exercise<BR>
  Price</B></FONT></TD>
  <TD STYLE="padding-bottom: 1pt; text-align: center"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 8pt"><B>&#160;<BR>
  &#160;<BR>
  &#160;<BR>
  &#160;<BR>
  &#160;</B></FONT></TD>
  <TD STYLE="font: bold 10pt Times New Roman, Times, Serif; padding-bottom: 1pt; text-align: center"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 8pt"><B>&#160;<BR>
  &#160;<BR>
  &#160;<BR>
  &#160;<BR>
  &#160;</B></FONT></TD>
  <TD COLSPAN="2" STYLE="border-bottom: Black 1pt solid; font: bold 10pt Times New Roman, Times, Serif; text-align: center"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 8pt"><B>Weighted<BR>
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  Remaining<BR>
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  <TD STYLE="font: bold 10pt Times New Roman, Times, Serif; padding-bottom: 1pt; text-align: center"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 8pt"><B>&#160;<BR>
  &#160;<BR>
  &#160;<BR>
  &#160;<BR>
  &#160;</B></FONT></TD>
  <TD STYLE="padding-bottom: 1pt; text-align: center"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 8pt"><B>&#160;<BR>
  &#160;<BR>
  &#160;<BR>
  &#160;<BR>
  &#160;</B></FONT></TD>
  <TD COLSPAN="2" STYLE="border-bottom: Black 1pt solid; text-align: center"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 8pt"><B>&#160;<BR>
  &#160;<BR>
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  <TD STYLE="padding-bottom: 1pt; text-align: center"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 8pt"><B>&#160;<BR>
  &#160;<BR>
  &#160;<BR>
  &#160;<BR>
  &#160;</B></FONT></TD>
</TR>
<TR STYLE="vertical-align: bottom; background-color: rgb(204,238,255)">
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    <TD STYLE="border-bottom: Black 1pt solid; font: 10pt Times New Roman, Times, Serif; text-align: left">&#160;</TD><TD STYLE="border-bottom: Black 1pt solid; font: 10pt Times New Roman, Times, Serif; text-align: right">&#8212;</TD><TD STYLE="font: 10pt Times New Roman, Times, Serif; padding-bottom: 1pt; text-align: left">&#160;</TD><TD STYLE="font: 10pt Times New Roman, Times, Serif; padding-bottom: 1pt">&#160;</TD>
    <TD STYLE="border-bottom: Black 1pt solid; font: 10pt Times New Roman, Times, Serif; text-align: left">&#160;</TD><TD STYLE="border-bottom: Black 1pt solid; font: 10pt Times New Roman, Times, Serif; text-align: right">&#8212;</TD><TD STYLE="font: 10pt Times New Roman, Times, Serif; padding-bottom: 1pt; text-align: left">&#160;</TD></TR>
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  </TABLE>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify">&#160;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify">The fair value of the incentive stock option grants
for the years ended December 31, 2024 and 2023 were estimated using the following weighted- average assumptions:</P>

<TABLE CELLPADDING="0" CELLSPACING="0" ID="xdx_88B_eus-gaap--ScheduleOfShareBasedPaymentAwardStockOptionsValuationAssumptionsTableTextBlock_z2awJNe9kfe2" SUMMARY="xdx: Disclosure - COMMON STOCK OPTIONS AND WARRANTS (Details - Fair value assumptions)" STYLE="font: 11pt Arial, Helvetica, Sans-Serif; border-collapse: collapse; width: 100%">
  <TR STYLE="vertical-align: bottom">
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  <TR STYLE="vertical-align: bottom">
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    <TD COLSPAN="6" STYLE="border-bottom: Black 1pt solid; font: bold 10pt Times New Roman, Times, Serif; text-align: center"><FONT STYLE="font-size: 8pt">For
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  <TR STYLE="vertical-align: bottom">
    <TD STYLE="text-align: justify"><FONT STYLE="font-size: 8pt">&#160;</FONT></TD><TD STYLE="font: bold 10pt Times New Roman, Times, Serif; padding-bottom: 1pt"><FONT STYLE="font-size: 8pt">&#160;</FONT></TD>
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  <TR STYLE="vertical-align: bottom; background-color: rgb(204,238,255)">
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  <TR STYLE="vertical-align: bottom; background-color: White">
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  <TR STYLE="vertical-align: bottom; background-color: rgb(204,238,255)">
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  <TR STYLE="vertical-align: bottom; background-color: White">
    <TD STYLE="font: 10pt Times New Roman, Times, Serif; text-align: justify">Volatility of common stock</TD><TD STYLE="font: 10pt Times New Roman, Times, Serif">&#160;</TD>
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  <TR STYLE="vertical-align: bottom; background-color: rgb(204,238,255)">
    <TD STYLE="font: 10pt Times New Roman, Times, Serif; text-align: justify">Weighted average grant date fair value per option</TD><TD STYLE="font: 10pt Times New Roman, Times, Serif">&#160;</TD>
    <TD STYLE="font: 10pt Times New Roman, Times, Serif; text-align: left">$</TD><TD ID="xdx_980_eus-gaap--ShareBasedCompensationArrangementByShareBasedPaymentAwardOptionsGrantsInPeriodWeightedAverageGrantDateFairValue_c20240101__20241231__us-gaap--AwardTypeAxis__us-gaap--EmployeeStockOptionMember_pdd" TITLE="Weighted average grant date fair value per option" STYLE="font: 10pt Times New Roman, Times, Serif; text-align: right">&#8212;</TD><TD STYLE="font: 10pt Times New Roman, Times, Serif; text-align: left">&#160;</TD><TD STYLE="font: 10pt Times New Roman, Times, Serif">&#160;</TD>
    <TD STYLE="font: 10pt Times New Roman, Times, Serif; text-align: left">$</TD><TD ID="xdx_982_eus-gaap--ShareBasedCompensationArrangementByShareBasedPaymentAwardOptionsGrantsInPeriodWeightedAverageGrantDateFairValue_c20230101__20231231__us-gaap--AwardTypeAxis__us-gaap--EmployeeStockOptionMember_pdd" TITLE="Weighted average grant date fair value per option" STYLE="font: 10pt Times New Roman, Times, Serif; text-align: right">1.57</TD><TD STYLE="font: 10pt Times New Roman, Times, Serif; text-align: left">&#160;</TD></TR>
  </TABLE>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify"><B>&#160;</B></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify"><B><FONT STYLE="text-decoration: underline">Warrants</FONT></B></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify">&#160;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify"><B>2024</B></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify"><B>&#160;</B></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify"><B></B></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify">On July 22, 2024, the Company and Duos Edge entered
into secured promissory notes (the &#34;Notes&#34;) with two institutional investors in the Company, 21 April Fund LP and 21 April Fund
Ltd. The principal amounts of the Notes are $<FONT ID="xdx_90F_eus-gaap--DebtInstrumentIssuedPrincipal_c20240101__20241231__us-gaap--StatementEquityComponentsAxis__us-gaap--WarrantMember__us-gaap--RelatedPartyTransactionAxis__custom--AprilTwentyOneFundLtdMember_pp0p0" TITLE="Principal amounts notes">1,520,000</FONT> for the Note issued to 21 April Fund Ltd. and $<FONT ID="xdx_90F_eus-gaap--DebtInstrumentIssuedPrincipal_c20240101__20241231__us-gaap--StatementEquityComponentsAxis__us-gaap--WarrantMember__us-gaap--RelatedPartyTransactionAxis__custom--AprilTwentyOneFundLPMember_pp0p0" TITLE="Principal amounts notes">680,000</FONT> for the Note issued to 21
April Fund LP. The Notes bear interest at an annual rate of <FONT ID="xdx_905_eus-gaap--DebtInstrumentInterestRateDuringPeriod_c20240101__20241231__us-gaap--StatementEquityComponentsAxis__us-gaap--WarrantMember_pdd" TITLE="Interest rate">10%</FONT> and the principal and any accrued interest on the Notes are due on December
30, 2025. The Company has guaranteed all of Duos Edge&#8217;s obligations pursuant to the Notes.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify">&#160;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify">In connection with the Notes, the Company issued warrants
to purchase <FONT ID="xdx_905_ecustom--PurchaseOfCommonStockWarrants_c20240101__20241231__us-gaap--StatementEquityComponentsAxis__us-gaap--WarrantMember__us-gaap--RelatedPartyTransactionAxis__custom--AprilTwentyOneFundLPMember_zp5c301SqpWj" TITLE="Warrants to purchase">92,727</FONT> shares of Common Stock to 21 April Fund LP and <FONT ID="xdx_90F_ecustom--PurchaseOfCommonStockWarrants_c20240101__20241231__us-gaap--StatementEquityComponentsAxis__us-gaap--WarrantMember__us-gaap--RelatedPartyTransactionAxis__custom--AprilTwentyOneFundLtdMember_pdd" TITLE="Warrants to purchase">207,273</FONT> shares of Common Stock to 21 April Fund Ltd. The warrants had
an exercise price of $<FONT ID="xdx_905_ecustom--StrikePriceOrExercisePrice_iI_c20241231__us-gaap--StatementEquityComponentsAxis__us-gaap--WarrantMember_zPIMGNAuvHL9" TITLE="Strike price or exercise price">3.00</FONT> and were exercisable at any time on or prior to the close of business on the five-year anniversary of the original
issuance date of July 22, 2024. The warrants contained a fundamental transaction provision whereby the Company might have to make a cash
payment to the warrant holder on a fundamental transaction trigger date. Accordingly, the warrants met the criteria to be accounted for
as a derivative liability instrument.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify"></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify"><B>&#160;</B></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify">On September 20, 2024, the Company made an offer,
which was accepted, to two warrant holders to exercise <FONT ID="xdx_902_eus-gaap--ShareBasedCompensationArrangementByShareBasedPaymentAwardOptionsExpirationsInPeriod_c20240901__20240920__us-gaap--StatementEquityComponentsAxis__us-gaap--WarrantMember__srt--CounterpartyNameAxis__custom--TwoWarrantsHoldersMember_pdd" TITLE="Shares expired">44,644</FONT> warrants with an expiration date of September 24, 2024 and with an original
strike price of $<FONT ID="xdx_906_eus-gaap--ClassOfWarrantOrRightExercisePriceOfWarrantsOrRights1_c20240920__us-gaap--StatementEquityComponentsAxis__us-gaap--WarrantMember__srt--CounterpartyNameAxis__custom--TwoWarrantsHoldersMember_pdd" TITLE="Strike price or exercise price">7.70</FONT> per share. The warrants, which were granted on September 25, 2019 and in conjunction with a loan to the Company
of $1 million for a term of 9 months, had been originally valued at $<FONT ID="xdx_90F_ecustom--LoanAmortized_c20240101__20241231__us-gaap--StatementEquityComponentsAxis__us-gaap--WarrantMember__srt--CounterpartyNameAxis__custom--TwoWarrantsHoldersMember_pp0p0" TITLE="Loan amortized">172,029</FONT> which amount had been fully amortized by the second quarter
of 2020.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify">&#160;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify">In conjunction with the extinguishment of the warrant
liability, the Company agreed to modify the terms of the outstanding warrants. Specifically, the exercise price of the warrants was reduced
<FONT ID="xdx_907_ecustom--ExercisePriceWarrantsReduced_c20240101__20241231__us-gaap--StatementEquityComponentsAxis__us-gaap--WarrantMember__srt--CounterpartyNameAxis__custom--TwoWarrantsHoldersMember" TITLE="Exercise price warrants reduced">from $7.70 to $2.61 per share</FONT> of Common Stock. As a result of this modification, the fair value of the warrants on the date of the modification
was recalculated to be approximately $<FONT ID="xdx_90D_eus-gaap--FairValueAdjustmentOfWarrants_c20240101__20241231__us-gaap--StatementEquityComponentsAxis__us-gaap--WarrantMember__srt--CounterpartyNameAxis__custom--TwoWarrantsHoldersMember_pp0p0" TITLE="Fair value of the warrants">615</FONT>.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify">&#160;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify">Upon the consummation of the extinguishment, the warrants
were cancelled and rendered null and void. Consequently, any and all rights arising under the original warrant agreements were extinguished,
and the Company shall no longer be required to reserve shares of Common Stock for issuance upon the exercise of these warrants. The Company
received $<FONT ID="xdx_908_eus-gaap--ProceedsFromWarrantExercises_c20240101__20241231__us-gaap--StatementEquityComponentsAxis__us-gaap--WarrantMember__srt--CounterpartyNameAxis__custom--TwoWarrantsHoldersMember_pp0p0" TITLE="Receive cash from exercise">116,521</FONT> in cash for the exercise which was recorded as additional paid in capital.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify">&#160;&#160;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify">During the third quarter of 2024, the Company
issued an aggregate of <FONT ID="xdx_900_eus-gaap--StockIssuedDuringPeriodSharesStockOptionsExercised_c20240701__20240930__us-gaap--RelatedPartyTransactionAxis__custom--AprilTwentyOneFundLPMember_pdd" TITLE="Common stock share issued during period"><FONT ID="xdx_903_eus-gaap--StockIssuedDuringPeriodSharesStockOptionsExercised_c20240701__20240930__us-gaap--RelatedPartyTransactionAxis__custom--AprilTwentyOneFundLtdMember_pdd" TITLE="Common stock share issued during period">344,644</FONT></FONT> shares of common stock, upon the exercise by 21 April Fund LP and 21 April Fund Ltd. (collectively,
the &#8220;21 April Entities&#8221;) of warrants to purchase <FONT ID="xdx_903_ecustom--PurchaseOfCommonStockWarrants_c20240701__20240930__us-gaap--RelatedPartyTransactionAxis__custom--AprilTwentyOneFundLPMember_pdd" TITLE="Warrants to purchase">104,647</FONT> and <FONT ID="xdx_903_ecustom--PurchaseOfCommonStockWarrants_c20240701__20240930__us-gaap--RelatedPartyTransactionAxis__custom--AprilTwentyOneFundLtdMember_pdd" TITLE="Warrants to purchase">239,997</FONT> shares of Common Stock, respectively. In connection
with such exercise, the Company and the 21 April Entities agreed to reduce the exercise price of the warrants to $<FONT ID="xdx_90F_eus-gaap--ClassOfWarrantOrRightExercisePriceOfWarrantsOrRights1_c20240930__us-gaap--RelatedPartyTransactionAxis__custom--AprilTwentyOneFundLtdMember_pdd" TITLE="Strike price or exercise price">2.61</FONT> per share,
and to remove any &#8220;blocker&#8221; or similar provisions in the warrants. The Company received $<FONT ID="xdx_906_eus-gaap--ProceedsFromWarrantExercises_c20240101__20241231__us-gaap--StatementEquityComponentsAxis__us-gaap--WarrantMember_pp0p0" TITLE="Receive cash from exercise">899,521</FONT> upon the exercise. As
of December 31, 2024, there are no warrants outstanding.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify"><B>&#160;</B></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify"></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify"></P>


<!-- Field: Page; Sequence: 120 -->
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    <DIV STYLE="break-before: page; margin-top: 6pt"><TABLE CELLPADDING="0" CELLSPACING="0" STYLE="width: 100%"><TR><TD STYLE="text-align: center; width: 100%"><P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: center"><B>DUOS TECHNOLOGIES GROUP, INC. AND SUBSIDIARIES</B></P><P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: center"><B>NOTES TO CONSOLIDATED FINANCIAL STATEMENTS</B></P><P STYLE="font: 10pt/115% Times New Roman, Times, Serif; margin: 0 0 8pt; text-align: center"><B>DECEMBER 31, 2024 AND 2023</B></P></TD></TR></TABLE></DIV>
    <!-- Field: /Page -->


<P ID="xdx_23B_zBodxebSyW3k" STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0">&#160;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0"></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify"><B>2023</B></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify">&#160;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify">During the first and fourth quarters of 2023, warrants
held by 48 holders representing <FONT ID="xdx_90F_eus-gaap--ShareBasedCompensationArrangementByShareBasedPaymentAwardOptionsExpirationsInPeriod_c20230101__20230331__us-gaap--StatementEquityComponentsAxis__us-gaap--WarrantMember__srt--CounterpartyNameAxis__custom--FourtyEightWarrantsHoldersMember_pdd" TITLE="Shares expired"><FONT ID="xdx_90F_eus-gaap--ShareBasedCompensationArrangementByShareBasedPaymentAwardOptionsExpirationsInPeriod_c20231001__20231231__us-gaap--StatementEquityComponentsAxis__us-gaap--WarrantMember__srt--CounterpartyNameAxis__custom--FourtyEightWarrantsHoldersMember_pdd" TITLE="Shares expired">102,947</FONT></FONT> shares expired. All of the expired warrants can no longer be exercised.</P>


<TABLE CELLPADDING="0" CELLSPACING="0" ID="xdx_88B_eus-gaap--ScheduleOfStockholdersEquityNoteWarrantsOrRightsTextBlock_zx9q7PSttNZ7" SUMMARY="xdx: Disclosure - COMMON STOCK OPTIONS AND WARRANTS (Details - Options activity)" STYLE="font: 10pt Times New Roman, Times, Serif; border-collapse: collapse; width: 100%">
  <TR STYLE="vertical-align: bottom">
    <TD ID="xdx_8B6_zJVGCpnIkO88" STYLE="font-size: 11pt"><FONT STYLE="display: none; font-size: 8pt">&#160;Schedule of warrants outstanding</FONT></TD><TD STYLE="font-size: 11pt"><FONT STYLE="font-size: 8pt">&#160;</FONT></TD>
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  &#160;<BR>
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  &#160;<BR>
  &#160;</B></FONT></TD>
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  &#160;<BR>
  &#160;<BR>
  &#160;<BR>
  &#160;</B></FONT></TD>
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  &#160;<BR>
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  &#160;<BR>
  &#160;<BR>
  &#160;<BR>
  &#160;</B></FONT></TD>
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  &#160;<BR>
  &#160;<BR>
  &#160;<BR>
  &#160;</B></FONT></TD>
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  &#160;<BR>
  &#160;<BR>
  &#160;<BR>
  &#160;</B></FONT></TD>
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  &#160;<BR>
  &#160;<BR>
  &#160;<BR>
  &#160;</B></FONT></TD>
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  &#160;<BR>
  &#160;<BR>
  &#160;<BR>
  &#160;</B></FONT></TD>
  <TD STYLE="padding-bottom: 1pt; text-align: center; font-size: 11pt"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 8pt"><B>&#160;<BR>
  &#160;<BR>
  &#160;<BR>
  &#160;<BR>
  &#160;</B></FONT></TD>
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  &#160;<BR>
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  &#160;<BR>
  &#160;<BR>
  &#160;<BR>
  &#160;</B></FONT></TD>
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<TR STYLE="vertical-align: bottom; background-color: rgb(204,238,255)">
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  <TR STYLE="vertical-align: bottom; background-color: White">
    <TD STYLE="text-align: left">Warrants expired, forfeited, cancelled or exercised</TD><TD>&#160;</TD>
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    <TD STYLE="text-align: left">&#160;</TD><TD STYLE="text-align: right">&#8212;</TD><TD STYLE="text-align: left">&#160;</TD><TD>&#160;</TD>
    <TD STYLE="text-align: left">&#160;</TD><TD STYLE="text-align: right">&#8212;</TD><TD STYLE="text-align: left">&#160;</TD></TR>
  <TR STYLE="vertical-align: bottom; background-color: rgb(204,238,255)">
    <TD STYLE="text-align: left; padding-bottom: 1pt">Warrants issued</TD><TD STYLE="padding-bottom: 1pt">&#160;</TD>
    <TD STYLE="border-bottom: Black 1pt solid; text-align: left">&#160;</TD><TD ID="xdx_98A_eus-gaap--ConversionOfStockSharesIssued1_c20230101__20231231__us-gaap--StatementEquityComponentsAxis__us-gaap--WarrantMember_zKnk0Wv0YkYa" TITLE="Warrants issued" STYLE="border-bottom: Black 1pt solid; text-align: right">&#8212;</TD><TD STYLE="padding-bottom: 1pt; text-align: left">&#160;</TD><TD STYLE="padding-bottom: 1pt">&#160;</TD>
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    <TD STYLE="border-bottom: Black 1pt solid; text-align: left">&#160;</TD><TD STYLE="border-bottom: Black 1pt solid; text-align: right">&#8212;</TD><TD STYLE="padding-bottom: 1pt; text-align: left">&#160;</TD><TD STYLE="padding-bottom: 1pt">&#160;</TD>
    <TD STYLE="border-bottom: Black 1pt solid; text-align: left">&#160;</TD><TD STYLE="border-bottom: Black 1pt solid; text-align: right">&#8212;</TD><TD STYLE="padding-bottom: 1pt; text-align: left">&#160;</TD></TR>
  <TR STYLE="vertical-align: bottom; background-color: White">
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    <TD STYLE="border-bottom: Black 2.5pt double; text-align: left">&#160;</TD><TD ID="xdx_989_eus-gaap--ClassOfWarrantOrRightOutstanding_iE_c20230101__20231231__us-gaap--StatementEquityComponentsAxis__us-gaap--WarrantMember_zMaxrLr1lr4f" TITLE="Number of warrants outstanding at end" STYLE="border-bottom: Black 2.5pt double; text-align: right">44,644</TD><TD STYLE="padding-bottom: 2.5pt; text-align: left">&#160;</TD><TD STYLE="padding-bottom: 2.5pt">&#160;</TD>
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  <TR STYLE="vertical-align: bottom; background-color: rgb(204,238,255)">
    <TD STYLE="padding-bottom: 2.5pt">Exercisable at December 31, 2023</TD><TD STYLE="padding-bottom: 2.5pt">&#160;</TD>
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  <TR STYLE="vertical-align: bottom; background-color: White">
    <TD STYLE="font-size: 11pt">&#160;</TD><TD STYLE="font-size: 11pt">&#160;</TD>
    <TD STYLE="font-size: 11pt; text-align: left">&#160;</TD><TD STYLE="font-size: 11pt; text-align: right">&#160;</TD><TD STYLE="font-size: 11pt; text-align: left">&#160;</TD><TD STYLE="font-size: 11pt">&#160;</TD>
    <TD STYLE="font-size: 11pt; text-align: left">&#160;</TD><TD STYLE="font-size: 11pt; text-align: right">&#160;</TD><TD STYLE="font-size: 11pt; text-align: left">&#160;</TD><TD STYLE="font-size: 11pt">&#160;</TD>
    <TD STYLE="font-size: 11pt; text-align: left">&#160;</TD><TD STYLE="font-size: 11pt; text-align: right">&#160;</TD><TD STYLE="font-size: 11pt; text-align: left">&#160;</TD><TD STYLE="font-size: 11pt">&#160;</TD>
    <TD STYLE="font-size: 11pt; text-align: left">&#160;</TD><TD STYLE="font-size: 11pt; text-align: right">&#160;</TD><TD STYLE="font-size: 11pt; text-align: left">&#160;</TD></TR>
  <TR STYLE="vertical-align: bottom; background-color: rgb(204,238,255)">
    <TD>Outstanding at December 31, 2023</TD><TD>&#160;</TD>
    <TD STYLE="text-align: left">&#160;</TD><TD ID="xdx_98C_eus-gaap--ClassOfWarrantOrRightOutstanding_iS_c20240101__20241231__us-gaap--StatementEquityComponentsAxis__us-gaap--WarrantMember_zC5PmcsIqfR5" TITLE="Number of warrants outstanding at beginning" STYLE="text-align: right">44,644</TD><TD STYLE="text-align: left">&#160;</TD><TD>&#160;</TD>
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  <TR STYLE="vertical-align: bottom; background-color: White">
    <TD STYLE="text-align: left">Warrants expired, forfeited, cancelled or exercised</TD><TD>&#160;</TD>
    <TD STYLE="text-align: left">&#160;</TD><TD ID="xdx_98C_ecustom--WarrantsExpiredForfeitedCancelledOrExercised_c20240101__20241231__us-gaap--StatementEquityComponentsAxis__us-gaap--WarrantMember_zZIIu4SdOIyj" TITLE="Warrants expired, forfeited, cancelled or exercised" STYLE="text-align: right">(344,644</TD><TD STYLE="text-align: left">)</TD><TD>&#160;</TD>
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    <TD STYLE="text-align: left">&#160;</TD><TD STYLE="text-align: right">&#8212;</TD><TD STYLE="text-align: left">&#160;</TD><TD>&#160;</TD>
    <TD STYLE="text-align: left">&#160;</TD><TD STYLE="text-align: right">&#8212;</TD><TD STYLE="text-align: left">&#160;</TD></TR>
  <TR STYLE="vertical-align: bottom; background-color: rgb(204,238,255)">
    <TD STYLE="text-align: left; padding-bottom: 1pt">Warrants issued</TD><TD STYLE="padding-bottom: 1pt">&#160;</TD>
    <TD STYLE="border-bottom: Black 1pt solid; text-align: left">&#160;</TD><TD ID="xdx_98C_eus-gaap--ConversionOfStockSharesIssued1_c20240101__20241231__us-gaap--StatementEquityComponentsAxis__us-gaap--WarrantMember_zATTq3Mc6Nod" TITLE="Warrants issued" STYLE="border-bottom: Black 1pt solid; text-align: right">300,000</TD><TD STYLE="padding-bottom: 1pt; text-align: left">&#160;</TD><TD STYLE="padding-bottom: 1pt">&#160;</TD>
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    <TD STYLE="border-bottom: Black 1pt solid; text-align: left">&#160;</TD><TD STYLE="border-bottom: Black 1pt solid; text-align: right">&#8212;</TD><TD STYLE="padding-bottom: 1pt; text-align: left">&#160;</TD></TR>
  <TR STYLE="vertical-align: bottom; background-color: White">
    <TD STYLE="padding-bottom: 2.5pt">Outstanding at December 31, 2024</TD><TD STYLE="padding-bottom: 2.5pt">&#160;</TD>
    <TD STYLE="border-bottom: Black 2.5pt double; text-align: left">&#160;</TD><TD ID="xdx_984_eus-gaap--ClassOfWarrantOrRightOutstanding_iE_c20240101__20241231__us-gaap--StatementEquityComponentsAxis__us-gaap--WarrantMember_zp5zkFEgvQWb" TITLE="Number of warrants outstanding at end" STYLE="border-bottom: Black 2.5pt double; text-align: right">&#8212;</TD><TD STYLE="padding-bottom: 2.5pt; text-align: left">&#160;</TD><TD STYLE="padding-bottom: 2.5pt">&#160;</TD>
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    <TD STYLE="border-bottom: Black 2.5pt double; text-align: left">&#160;</TD><TD STYLE="border-bottom: Black 2.5pt double; text-align: right">&#8212;</TD><TD STYLE="padding-bottom: 2.5pt; text-align: left">&#160;</TD><TD STYLE="padding-bottom: 2.5pt">&#160;</TD>
    <TD STYLE="border-bottom: Black 2.5pt double; text-align: left">&#160;</TD><TD ID="xdx_989_eus-gaap--ShareBasedCompensationArrangementByShareBasedPaymentAwardOptionsOutstandingIntrinsicValue_iE_pp0p0_c20240101__20241231__us-gaap--StatementEquityComponentsAxis__us-gaap--WarrantMember_zx0XAkiBOo4k" TITLE="Aggregate intrinsic value outstanding at end" STYLE="border-bottom: Black 2.5pt double; text-align: right">&#8212;</TD><TD STYLE="padding-bottom: 2.5pt; text-align: left">&#160;</TD></TR>
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<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify"><B>&#160;</B></P>

<P ID="xdx_806_eus-gaap--DefinedContributionPlanTextBlock_zRkfagDpWLwl" STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify"><B>NOTE 16 &#8211; <FONT ID="xdx_822_zg2t8CMO3C41">DEFINED CONTRIBUTION PLAN</FONT></B></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify"><B>&#160;</B></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify">The Company has a 401(k)-retirement savings plan (the
&#8220;401(k) Plan&#8221;) covering all eligible employees. The 401(k) Plan allows employees to defer a portion of their annual compensation,
and the Company may match a portion of the employees&#8217; contributions generally after the first six months of service. During the
year ended December 31, 2024, the Company matched 100% of the first 4% of eligible employee compensation that was contributed to the 401(k)
Plan. For the year ended December 31, 2024, the Company recognized expense for matching cash contributions to the 401(k) Plan totaling
$<FONT ID="xdx_900_eus-gaap--DefinedBenefitPlanServiceCost_c20240101__20241231_pp0p0" TITLE="Cash contributions">214,347</FONT>.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify"><B>&#160;&#160;</B></P>

<P ID="xdx_80A_eus-gaap--RelatedPartyTransactionsDisclosureTextBlock_zGkgTI2T9PTf" STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify"><B>NOTE 17 &#8211; <FONT ID="xdx_827_zOc2L9KGyapi">RELATED PARTY TRANSACTIONS</FONT></B></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify"><B>&#160;</B></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify">Frank Lonegro serves on the Board of Directors and
is a member of the Audit Committee. Mr. Lonegro is the Chief Executive Officer of Landstar System, Inc. (&#8220;Landstar&#8221;), based
in Jacksonville, Florida. The Company has previously utilized Landstar for shipping services including transporting large items. Most
recently, Landstar was the designated vendor involved in shipping an Edge Data Center to an Amtrak site in Secaucus, New Jersey. Mr. Lonegro
was not involved in the selection of his company by the Company, with whom there was an existing relationship pre-dating Mr. Lonegro&#8217;s
appointment to the Board of the Company. Mr. Lonegro did not participate in any Board discussions or votes relating to the selection of
Landstar nor approval of the transactions with Landstar. The terms of these transactions were reviewed and approved by the management
team. For the years ended December 31, 2024 and December 31, 2023, the Company expensed $<FONT ID="xdx_902_ecustom--RelatedPartyExpenses_c20240101__20241231_pp0p0" TITLE="Related party expenses">64,686</FONT> and $<FONT ID="xdx_900_ecustom--RelatedPartyExpenses_c20230101__20231231_pp0p0" TITLE="Related party expenses">33,812</FONT>, respectively.
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in the accompanying balance sheets.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify">&#160;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify">In the fourth quarter of 2022, the Company
elected to not renew a support contract with an existing customer due to a change in focus by the Company away from its Integrated
Correctional Automation System (&#8220;iCAS&#8221;) business and the limited amount of revenue expected from that business going
forward. On June 29, 2023, the Company completed a transaction whereby it sold assets related to its iCAS business and a
recommendation to that customer to engage with the eventual buyer going forward. The transaction was completed with a third-party
buyer of which the Company&#8217;s then former and now current Chief Financial Officer is a director. The former officer, who was
rehired as our CFO in May of 2024, did not participate in the transaction on behalf of the Company which was negotiated by the
CEO (see Note 18).</P>


<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify">&#160;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify">In late 2024, Duos engaged with FIG to assist in
FIG&#8217;s purchase of approximately 850 Mega Watts of electrical generation capacity (consisting of 30 mobile gas turbine
generators) and associated equipment to support their installation and operation (&#8220;balance of plant&#8221;). In late November
2024, Sawgrass Buyer LLC, an entity formed and owned by FIG, executed an asset purchase agreement with Atlas Corporation, APR Energy
Holdings Limited and a number of its wholly-owned affiliates (collectively, &#8220;APR&#8221;). Chuck Ferry, our CEO, was formerly
the CEO of APR from 2018 to 2020. The transaction closed on December 31, 2024. At Closing, Sawgrass Buyer LLC entered into an Asset
Management Agreement (&#8220;AMA&#8221;) with the Company under which a substantial portion of Company staff, including certain
members of the management team (including Mr. Ferry), would oversee operations of Sawgrass Buyer LLC. The AMA term is two years and
subject to customary cancellation provisions. At Closing, the Company also received a 5% non-voting equity ownership interest in
Sawgrass APR Holdings, LLC (&#8220;Sawgrass Parent&#8221;), the ultimate parent company of Sawgrass Buyer LLC. As part of the
transaction, certain members of the Company&#8217;s management team, including Charles Ferry, Duos&#8217; Chief Executive Officer,
and Christopher King, Duos&#8217; Chief Operating Officer, will serve in similar positions with the New APR in addition to their
roles at the Company. Mr. Ferry will also be Executive Chairman and a member of the Board of New APR. Mr. Goldfarb, the
Company&#8217;s CFO, will be an observer on the board of New APR but will have no Executive role or management responsibilities at
the new entity. The Company will continue to pay the full compensation for Mr. Ferry, Mr. King and one other employee, with APR
covering 50% of that cost.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify">&#160;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify">In 2024, the Company borrowed $2,200,000 from
two lenders that are related parties because together they hold more than 10% of the Company&#8217;s voting common stock. (See Note
10).</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify"></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify">&#160;</P>

<P ID="xdx_80A_ecustom--SaleOfAssetsTextBlock_zs18bWwfWDbd" STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify"><B>NOTE 18 &#8211; <FONT ID="xdx_821_z0xMseVYWuN8">SALE OF ASSETS</FONT></B></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify">&#160;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify">On June 29, 2023, the Company completed a transaction
whereby it sold assets related to its Integrated Correctional Automation System (iCAS) business with a single customer. In the fourth
quarter of 2022, the Company elected to not renew a support contract due to the limited nature of the business. The transaction was completed
with a third-party buyer of which the Company&#8217;s then former Chief Financial Officer and now Current Chief Financial Officer is a
director. Said then former officer did not participate in the transaction on behalf of the Company.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify">&#160;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify">The assets of the iCAS business were sold for a convertible
promissory note with a principal amount of $<FONT ID="xdx_902_eus-gaap--DebtInstrumentFaceAmount_c20241231_pp0p0" TITLE="Principal amount">165,000</FONT> with a <FONT ID="xdx_90E_ecustom--OriginalIssueDiscount_c20240101__20241231_pdd" TITLE="Original issue discount">10%</FONT> original issue discount as well as common stock purchase warrants. The
note matures in 2 years from the date of sale and is convertible immediately through the later of the maturity date or payment by the
borrower of the default amount, as defined in the note, into shares of the buyer&#8217;s common stock at a conversion price of $<FONT ID="xdx_90A_eus-gaap--DebtInstrumentConvertibleConversionPrice1_c20241231_pdd" TITLE="Conversion price">0.003</FONT>
or <FONT ID="xdx_905_eus-gaap--CommonStockDividendsShares_c20240101__20241231_pdd" TITLE="Common stock shares">55,000,000</FONT> shares. The conversion of the note carries restrictions which include limiting conversion to the extent it would not exceed
4.99% of the common stock outstanding of the buyer. The convertible promissory note is subject to standard anti-dilution provisions.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify">&#160;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify"></P>

<!-- Field: Page; Sequence: 121 -->
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<P ID="xdx_230_zGW1KwcoSB0b" STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify">&#160;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify">The common stock purchase warrants are for a total
of <FONT ID="xdx_908_ecustom--PurchaseOfCommonStockWarrants_c20240101__20241231_pdd" TITLE="Purchase of common stock warrants">55,000,000</FONT> common shares of the buyer at an exercise price of $<FONT ID="xdx_900_eus-gaap--WarrantExercisePriceIncrease_c20240101__20241231_pdd" TITLE="Exercise price">0.01</FONT> per share. The warrants are subject to standard anti-dilution provisions.
The warrants are not exercisable until on or after six months from the issuance date and no later than on or before the third anniversary
of the issuance date. The Company may exercise the warrants at any time after the six-month anniversary of the issuance date on a cashless
basis if there is no effective registration statement covering the resale of the Warrant Shares at prevailing market prices by the holder.
The exercise of these warrants is subject to beneficial ownership limits of 4.99% which may be increased by the holder up to 9.99% as
defined in the warrant. Given that the shares carried no intrinsic value at the time of the transaction and that the overall fair value
is de minimis, the Company has not recorded the warrants associated with the transaction.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify">&#160;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify">The Company recognized a gain on sale of assets of
$<FONT ID="xdx_900_eus-gaap--GainLossOnSalesOfAssetsAndAssetImpairmentCharges_c20240101__20241231_pp0p0" TITLE="Sale of asset">150,000</FONT>, which is included in other income.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify">&#160;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify">The original issue discount is being accrued into
interest income over the term of the note.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify">&#160;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify"></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify">The Company regularly assesses the
collectability of its outstanding note receivable and establishes an allowance for credit losses based on
historical collection trends, the financial condition of counterparties, and current market conditions. In the year ended December
31, 2024, the Company recorded an allowance in the amount of $<FONT ID="xdx_90D_eus-gaap--AllowanceForDoubtfulAccountsReceivableCurrent_c20241231_pp0p0" TITLE="Allowance for note receivable">161,250</FONT>
against the note receivable to reflect management&#8217;s estimate of the portion of the balance that may not be collectible. This
allowance is recorded as a reduction to note receivable on the consolidated balance sheet and as a charge to bad debt expense in the
consolidated statement of operations. The Company will cease accrual of interest income on this note prospectively.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify"></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify">&#160;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify">The note receivable was recorded as follows on December
31, 2024:</P>

<TABLE CELLPADDING="0" CELLSPACING="0" ID="xdx_892_ecustom--ScheduleOfNoteReceivableTableTextBlock_z2uFfpo2PN8a" SUMMARY="xdx: Disclosure - SALE OF ASSETS (Details)" STYLE="font: 8pt Arial, Helvetica, Sans-Serif; border-collapse: collapse; width: 100%">
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    <TD ID="xdx_8B6_zAkw9b5p8f81" STYLE="display: none">Schedule of note receivable</TD><TD>&#160;</TD>
    <TD COLSPAN="2" ID="xdx_49B_20241231_zchhMDqMRLYh" STYLE="text-align: center">&#160;</TD><TD>&#160;</TD></TR>
  <TR STYLE="vertical-align: bottom">
    <TD>&#160;</TD><TD STYLE="font: 8pt Times New Roman, Times, Serif; padding-bottom: 1pt">&#160;</TD>
    <TD COLSPAN="2" STYLE="border-bottom: Black 1pt solid; font: 8pt Times New Roman, Times, Serif; text-align: center"><P STYLE="font: 8pt Times New Roman, Times, Serif; margin: 0; text-align: center"><B>December 31,</B></P> <P STYLE="font: 8pt Times New Roman, Times, Serif; margin: 0; text-align: center"><B>2024</B></P></TD><TD STYLE="font: 8pt Times New Roman, Times, Serif; padding-bottom: 1pt">&#160;</TD></TR>
<TR ID="xdx_405_ecustom--ConvertibleNoteReceivable_iI_pp0p0_zWqQhMn2Fsb7" STYLE="vertical-align: bottom; background-color: rgb(204,238,255)">
    <TD STYLE="width: 83%; font-size: 10pt; text-align: left"><FONT STYLE="font-family: Times New Roman, Times, Serif">Convertible note
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    <TD STYLE="font-size: 10pt; text-align: left; padding-bottom: 2.5pt"><FONT STYLE="font-family: Times New Roman, Times, Serif">Convertible
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    <TD STYLE="border-bottom: Black 2.5pt double; font-size: 10pt; text-align: left"><FONT STYLE="font-family: Times New Roman, Times, Serif">$</FONT></TD><TD STYLE="border-bottom: Black 2.5pt double; font-size: 10pt; text-align: right"><FONT STYLE="font-family: Times New Roman, Times, Serif">&#8212;</FONT></TD><TD STYLE="padding-bottom: 2.5pt; font-size: 10pt; text-align: left"><FONT STYLE="font-family: Times New Roman, Times, Serif">&#160;</FONT></TD></TR>
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<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify"></P>

<P ID="xdx_8AF_zneEDWZe31el" STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify">&#160;</P>

<P ID="xdx_80D_eus-gaap--SubsequentEventsTextBlock_zOMqmUlquEc4" STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify"><B>NOTE 19 &#8211; <FONT ID="xdx_825_zutmDB2GX1Ld">SUBSEQUENT EVENTS</FONT></B></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify">&#160;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify">Effective January 1, 2025, the Company issued restricted
stock awards to its executive leadership team as a condition of entering into new employment agreements whereby they were granted a total
of <FONT ID="xdx_906_eus-gaap--ShareBasedCompensationArrangementByShareBasedPaymentAwardOptionsGrantsInPeriod_c20241229__20250102__us-gaap--TypeOfArrangementAxis__custom--NewEmploymentAgreementsMember__us-gaap--AwardTypeAxis__us-gaap--RestrictedStockMember_z0wR1wm8lkW7" TITLE="Number of share granted">1,901,898</FONT> shares of restricted stock with 3-year cliff vesting.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify">&#160;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify">On February 5, 2025, a holder of our Series D Preferred
Stock converted <FONT ID="xdx_900_eus-gaap--ConversionOfStockSharesConverted1_c20250201__20250205__us-gaap--StatementClassOfStockAxis__us-gaap--SeriesDPreferredStockMember_pdd" TITLE="Number of shares converted">300</FONT> shares of Series D Preferred Stock into 100,000 shares of Common Stock.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify"></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify">&#160;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify">On February 26, 2025, the Company made a $<FONT ID="xdx_90F_eus-gaap--DebtInstrumentIssuedPrincipal_pp0p0_c20250224__20250226__us-gaap--TypeOfArrangementAxis__custom--April21FundLPAnd21AprilFundLtdMember_zSE41Ov8TlB5" TITLE="Principal balance of secured promissory note">500,000</FONT>
payment toward the principal balance of the secured promissory notes entered into with 21 April Fund LP and 21 April Fund Ltd. on
July 22, 2024. On March 27, 2025, the Company made a second payment of $<FONT ID="xdx_90B_eus-gaap--DebtInstrumentIssuedPrincipal_pp0p0_c20250325__20250327__us-gaap--TypeOfArrangementAxis__custom--April21FundLPAnd21AprilFundLtdMember_z5YQFL1xDF3e" TITLE="Principal balance of secured promissory note">500,000</FONT>
 toward the principal balance of the secured promissory notes. These payments reduce the outstanding principal obligations
and were made in accordance with the terms of the Notes.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify">&#160;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify">Subsequent to the balance sheet date, through March
31, 2025, certain employees exercised stock options to acquire a total of <FONT ID="xdx_905_ecustom--EmployeesExercisedStockOptions_c20250301__20250331__us-gaap--PlanNameAxis__custom--EquityIncentivePlan2016Member_zFgfOwZUcCX4" TITLE="Employees exercised stock options">27,712</FONT> shares of the Company&#8217;s common stock, generating total net proceeds of approximately $<FONT ID="xdx_906_eus-gaap--ProceedsFromIssuanceOfCommonStock_c20250329__20250331_zRSXgOJj3fVe" TITLE="Proceeds from common stock">107,550</FONT>. The exercises
were made pursuant to the Company&#8217;s 2016 and 2021 Equity Incentive Plan and were conducted in accordance with the applicable terms
of the plan and the individual award agreements.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify">&#160;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify">Subsequent to the balance sheet date, through March
31, 2025 the Company issued an aggregate of <FONT ID="xdx_904_eus-gaap--CommonStockSharesIssued_c20250331__us-gaap--PlanNameAxis__custom--EquityIncentivePlan2016Member_pdd" TITLE="Common stock, share issued">633,683</FONT> shares of common stock at a weighted average price of $<FONT ID="xdx_903_eus-gaap--SharePrice_c20250331__us-gaap--AwardTypeAxis__custom--AtTheMarketMember_pdd" TITLE="Share price">6.24</FONT> per share through its
At-The-Market (ATM) offering program, generating total net proceeds of approximately $<FONT ID="xdx_902_eus-gaap--StockIssuedDuringPeriodValueNewIssues_c20250301__20250331__us-gaap--PlanNameAxis__custom--EquityIncentivePlan2016Member_pp0p0" TITLE="Total net proceeds">3,836,032</FONT>.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify">&#160;</P>

<P ID="xdx_81B_znjS1xIJAA05" STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify">&#160;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0; margin-bottom: 0; text-align: center"><FONT STYLE="font-size: 9pt">F-43</FONT></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: center"></P>


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<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0">&#160;</P>
<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0"><B></B></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: center"><B>DUOS TECHNOLOGIES GROUP, INC. AND SUBSIDIARIES</B></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: center"><B><FONT ID="a_041"></FONT>CONSOLIDATED BALANCE SHEETS</B></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: center"><B></B></P>

<TABLE CELLPADDING="0" CELLSPACING="0" ID="xdx_30C_111_zu2D00zIU0Vh" SUMMARY="xdx: Statement - CONSOLIDATED BALANCE SHEETS (Unaudited)" STYLE="font: 12pt Arial, Helvetica, Sans-Serif; border-collapse: collapse; width: 100%">
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  <TR ID="xdx_403_eus-gaap--AssetsAbstract_iB_zyFTOR8t9U9b" STYLE="vertical-align: bottom; background-color: White">
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    <TD STYLE="text-align: left">&#160;</TD><TD STYLE="text-align: right">&#160;</TD><TD STYLE="text-align: left">&#160;</TD><TD>&#160;</TD>
    <TD STYLE="text-align: left">&#160;</TD><TD STYLE="text-align: right">&#160;</TD><TD STYLE="text-align: left">&#160;</TD></TR>
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    <TD STYLE="text-align: left">&#160;</TD><TD STYLE="text-align: right">&#160;</TD><TD STYLE="text-align: left">&#160;</TD></TR>
  <TR ID="xdx_40F_eus-gaap--Cash_i02I_pp0p0_maACzF6g_z7fSj6oHAh67" STYLE="vertical-align: bottom; background-color: White">
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  <TR ID="xdx_405_ecustom--AccountsReceivableNetRelatedParties_iIP3us-gaap--AccountsReceivableNetCurrent_pp0p0_maACzF6g_maACzSmk_zaSG6M4N67ei" STYLE="vertical-align: bottom; background-color: White">
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  <TR ID="xdx_407_eus-gaap--ContractWithCustomerAssetNetCurrent_i02I_pp0p0_maACzF6g_zCdx8fEeN8Tb" STYLE="vertical-align: bottom; background-color: rgb(204,238,255)">
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    <TD STYLE="font: 10pt Times New Roman, Times, Serif; text-align: left">&#160;</TD><TD STYLE="font: 10pt Times New Roman, Times, Serif; text-align: right">700,458</TD><TD STYLE="font: 10pt Times New Roman, Times, Serif; text-align: left">&#160;</TD><TD STYLE="font: 10pt Times New Roman, Times, Serif">&#160;</TD>
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  <TR ID="xdx_405_eus-gaap--InventoryNet_i02I_pp0p0_maACzF6g_z37bpUhcGZv2" STYLE="vertical-align: bottom; background-color: White">
    <TD STYLE="font: 10pt Times New Roman, Times, Serif; padding-left: 10pt">&#160;Inventory</TD><TD STYLE="font: 10pt Times New Roman, Times, Serif">&#160;</TD>
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    <TD STYLE="text-align: right">&#160;</TD><TD>&#160;</TD>
    <TD STYLE="text-align: left">&#160;</TD><TD STYLE="text-align: right">&#160;</TD><TD STYLE="text-align: left">&#160;</TD><TD>&#160;</TD>
    <TD STYLE="text-align: left">&#160;</TD><TD STYLE="text-align: right">&#160;</TD><TD STYLE="text-align: left">&#160;</TD></TR>
  <TR ID="xdx_40D_eus-gaap--AssetsCurrent_i01TI_pp0p0_mtACzF6g_maAzoj5_zYKgNP8WEDfc" STYLE="vertical-align: bottom; background-color: White">
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    <TD STYLE="text-align: right">&#160;</TD><TD>&#160;</TD>
    <TD STYLE="text-align: left">&#160;</TD><TD STYLE="text-align: right">&#160;</TD><TD STYLE="text-align: left">&#160;</TD><TD>&#160;</TD>
    <TD STYLE="text-align: left">&#160;</TD><TD STYLE="text-align: right">&#160;</TD><TD STYLE="text-align: left">&#160;</TD></TR>
  <TR ID="xdx_401_eus-gaap--InventoryNoncurrent_i01I_pp0p0_maAzoj5_zks7g0wRJvJd" STYLE="vertical-align: bottom; background-color: White">
    <TD STYLE="font: 10pt Times New Roman, Times, Serif; text-align: left; padding-left: 10pt">&#160;Inventory - non current</TD><TD STYLE="font: 10pt Times New Roman, Times, Serif">&#160;</TD>
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    <TD STYLE="font: 10pt Times New Roman, Times, Serif; text-align: left">&#160;</TD><TD STYLE="font: 10pt Times New Roman, Times, Serif; text-align: right">196,315</TD><TD STYLE="font: 10pt Times New Roman, Times, Serif; text-align: left">&#160;</TD></TR>
  <TR ID="xdx_401_eus-gaap--PropertyPlantAndEquipmentNet_i01I_pp0p0_maAzoj5_zrtuHfFNzhjh" STYLE="vertical-align: bottom; background-color: rgb(204,238,255)">
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    <TD STYLE="font: 10pt Times New Roman, Times, Serif; text-align: left">&#160;</TD><TD STYLE="font: 10pt Times New Roman, Times, Serif; text-align: right">500,000</TD><TD STYLE="font: 10pt Times New Roman, Times, Serif; text-align: left">&#160;</TD></TR>
  <TR STYLE="vertical-align: bottom; background-color: rgb(204,238,255)">
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    <TD STYLE="text-align: left">&#160;</TD><TD STYLE="text-align: right">&#160;</TD><TD STYLE="text-align: left">&#160;</TD><TD>&#160;</TD>
    <TD STYLE="text-align: left">&#160;</TD><TD STYLE="text-align: right">&#160;</TD><TD STYLE="text-align: left">&#160;</TD></TR>
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    <TD STYLE="text-align: left">&#160;</TD><TD STYLE="text-align: right">&#160;</TD><TD STYLE="text-align: left">&#160;</TD><TD>&#160;</TD>
    <TD STYLE="text-align: left">&#160;</TD><TD STYLE="text-align: right">&#160;</TD><TD STYLE="text-align: left">&#160;</TD></TR>
  <TR ID="xdx_406_eus-gaap--EquityMethodInvestments_i02I_pp0p0_maOAzIh9_zH6XhiHLanqe" STYLE="vertical-align: bottom; background-color: rgb(204,238,255)">
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    <TD STYLE="text-align: left">&#160;</TD><TD STYLE="text-align: right">&#160;</TD><TD STYLE="text-align: left">&#160;</TD><TD>&#160;</TD>
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  <TR ID="xdx_405_eus-gaap--LiabilitiesAndStockholdersEquityAbstract_iB_z7GzUzacFl8" STYLE="vertical-align: bottom; background-color: rgb(204,238,255)">
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    <TD STYLE="text-align: left">&#160;</TD><TD STYLE="text-align: right">&#160;</TD><TD STYLE="text-align: left">&#160;</TD><TD>&#160;</TD>
    <TD STYLE="text-align: left">&#160;</TD><TD STYLE="text-align: right">&#160;</TD><TD STYLE="text-align: left">&#160;</TD></TR>
  <TR STYLE="vertical-align: bottom; background-color: White">
    <TD STYLE="text-align: center">&#160;</TD><TD>&#160;</TD>
    <TD STYLE="text-align: left">&#160;</TD><TD STYLE="text-align: right">&#160;</TD><TD STYLE="text-align: left">&#160;</TD><TD>&#160;</TD>
    <TD STYLE="text-align: left">&#160;</TD><TD STYLE="text-align: right">&#160;</TD><TD STYLE="text-align: left">&#160;</TD></TR>
  <TR ID="xdx_407_eus-gaap--LiabilitiesCurrentAbstract_i01B_zIOy9ovdRSg9" STYLE="vertical-align: bottom; background-color: rgb(204,238,255)">
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  <TR ID="xdx_40D_eus-gaap--AccountsPayableCurrent_i01I_pp0p0_maLCz4mX_zSSfMF8Ea7zg" STYLE="vertical-align: bottom; background-color: White">
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  <TR ID="xdx_40E_ecustom--NotesPayableFinancingAgreements_i01I_pp0p0_maLCz4mX_z1cGRcTNakwe" STYLE="vertical-align: bottom; background-color: rgb(204,238,255)">
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    <TD STYLE="font: 10pt Times New Roman, Times, Serif; text-align: left">&#160;</TD><TD STYLE="font: 10pt Times New Roman, Times, Serif; text-align: right">17,072</TD><TD STYLE="font: 10pt Times New Roman, Times, Serif; text-align: left">&#160;</TD></TR>
  <TR ID="xdx_400_eus-gaap--AccruedLiabilitiesCurrent_i01I_pp0p0_maLCz4mX_z7kz0rluPJLc" STYLE="vertical-align: bottom; background-color: White">
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    <TD STYLE="font: 10pt Times New Roman, Times, Serif; text-align: left">&#160;</TD><TD STYLE="font: 10pt Times New Roman, Times, Serif; text-align: right">373,251</TD><TD STYLE="font: 10pt Times New Roman, Times, Serif; text-align: left">&#160;</TD></TR>
  <TR ID="xdx_40E_eus-gaap--OperatingLeaseLiabilityCurrent_i01I_pp0p0_maLCz4mX_zFHBxe5jc2kj" STYLE="vertical-align: bottom; background-color: rgb(204,238,255)">
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    <TD STYLE="font: 10pt Times New Roman, Times, Serif; text-align: left">&#160;</TD><TD STYLE="font: 10pt Times New Roman, Times, Serif; text-align: right">798,556</TD><TD STYLE="font: 10pt Times New Roman, Times, Serif; text-align: left">&#160;</TD></TR>
  <TR ID="xdx_402_ecustom--LeaseObligationEdgeDataCentersCurrentPortion_i01I_pp0p0_maLCz4mX_zdYCDjikCze2" STYLE="vertical-align: bottom; background-color: White">
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    <TD STYLE="font: 10pt Times New Roman, Times, Serif; text-align: left">&#160;</TD><TD STYLE="font: 10pt Times New Roman, Times, Serif; text-align: right">367,451</TD><TD STYLE="font: 10pt Times New Roman, Times, Serif; text-align: left">&#160;</TD></TR>
  <TR ID="xdx_40B_ecustom--NotesPayableCurrentNetOfDiscounts_i01I_pp0p0_maLCz4mX_zQJnYEVqfJYk" STYLE="vertical-align: bottom; background-color: rgb(204,238,255)">
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    <TD STYLE="font: 10pt Times New Roman, Times, Serif; text-align: left">&#160;</TD><TD STYLE="font: 10pt Times New Roman, Times, Serif; text-align: right">1,027,707</TD><TD STYLE="font: 10pt Times New Roman, Times, Serif; text-align: left">&#160;</TD><TD STYLE="font: 10pt Times New Roman, Times, Serif">&#160;</TD>
    <TD STYLE="font: 10pt Times New Roman, Times, Serif; text-align: left">&#160;</TD><TD STYLE="font: 10pt Times New Roman, Times, Serif; text-align: right">1,758,396</TD><TD STYLE="font: 10pt Times New Roman, Times, Serif; text-align: left">&#160;</TD></TR>
  <TR ID="xdx_401_ecustom--ContractLiabilitiesCurrent_iIP3custom--NotesPayableCurrentNetOfDiscounts_pp0p0_maLCz4mX_maLCzidS_zczc2IVdzCH4" STYLE="vertical-align: bottom; background-color: White">
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    <TD STYLE="font: 10pt Times New Roman, Times, Serif; text-align: left">&#160;</TD><TD STYLE="font: 10pt Times New Roman, Times, Serif; text-align: right">3,001,352</TD><TD STYLE="font: 10pt Times New Roman, Times, Serif; text-align: left">&#160;</TD><TD STYLE="font: 10pt Times New Roman, Times, Serif">&#160;</TD>
    <TD STYLE="font: 10pt Times New Roman, Times, Serif; text-align: left">&#160;</TD><TD STYLE="font: 10pt Times New Roman, Times, Serif; text-align: right">3,188,518</TD><TD STYLE="font: 10pt Times New Roman, Times, Serif; text-align: left">&#160;</TD></TR>
  <TR ID="xdx_407_ecustom--ContractLiabilitiesCurrentRelatedParties_iIP3custom--ContractLiabilitiesCurrent_pp0p0_maLCz4mX_maLCzidS_zh9JwRMttyz6" STYLE="vertical-align: bottom; background-color: rgb(204,238,255)">
    <TD STYLE="font: 10pt Times New Roman, Times, Serif; text-align: left; padding-bottom: 1pt; padding-left: 10pt">&#8239;Contract liabilities, current &#8211; related parties</TD><TD STYLE="font: 10pt Times New Roman, Times, Serif; padding-bottom: 1pt">&#160;</TD>
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    <TD STYLE="border-bottom: Black 1pt solid; font: 10pt Times New Roman, Times, Serif; text-align: left">&#160;</TD><TD STYLE="border-bottom: Black 1pt solid; font: 10pt Times New Roman, Times, Serif; text-align: right"><P STYLE="font: 10pt/115% Times New Roman, Times, Serif; margin: 0">8,616,500</P></TD><TD STYLE="font: 10pt Times New Roman, Times, Serif; padding-bottom: 1pt; text-align: left">&#160;</TD></TR>
  <TR STYLE="vertical-align: bottom; background-color: White">
    <TD STYLE="text-align: right">&#160;</TD><TD>&#160;</TD>
    <TD STYLE="text-align: left">&#160;</TD><TD STYLE="text-align: right">&#160;</TD><TD STYLE="text-align: left">&#160;</TD><TD>&#160;</TD>
    <TD STYLE="text-align: left">&#160;</TD><TD STYLE="text-align: right">&#160;</TD><TD STYLE="text-align: left">&#160;</TD></TR>
  <TR ID="xdx_407_eus-gaap--LiabilitiesCurrent_i01TI_pp0p0_mtLCz4mX_maLzQWW_zrcfwoXDPdL" STYLE="vertical-align: bottom; background-color: rgb(204,238,255)">
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    <TD STYLE="font: 10pt Times New Roman, Times, Serif; text-align: left">&#160;</TD><TD STYLE="font: 10pt Times New Roman, Times, Serif; text-align: right">16,089,566</TD><TD STYLE="font: 10pt Times New Roman, Times, Serif; text-align: left">&#160;</TD></TR>
  <TR STYLE="vertical-align: bottom; background-color: White">
    <TD STYLE="text-align: right">&#160;</TD><TD>&#160;</TD>
    <TD STYLE="text-align: left">&#160;</TD><TD STYLE="text-align: right">&#160;</TD><TD STYLE="text-align: left">&#160;</TD><TD>&#160;</TD>
    <TD STYLE="text-align: left">&#160;</TD><TD STYLE="text-align: right">&#160;</TD><TD STYLE="text-align: left">&#160;</TD></TR>
  <TR ID="xdx_404_ecustom--ContractLiabilitiesLessCurrentPortion_iIP3us-gaap--LiabilitiesCurrent_pp0p0_maLzQWW_maLzjOf_zgDiKmFKYZub" STYLE="vertical-align: bottom; background-color: rgb(204,238,255)">
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    <TD STYLE="font: 10pt Times New Roman, Times, Serif; text-align: left">&#160;</TD><TD STYLE="font: 10pt Times New Roman, Times, Serif; text-align: right">6,851,513</TD><TD STYLE="font: 10pt Times New Roman, Times, Serif; text-align: left">&#160;</TD><TD STYLE="font: 10pt Times New Roman, Times, Serif">&#160;</TD>
    <TD STYLE="font: 10pt Times New Roman, Times, Serif; text-align: left">&#160;</TD><TD STYLE="font: 10pt Times New Roman, Times, Serif; text-align: right">7,399,634</TD><TD STYLE="font: 10pt Times New Roman, Times, Serif; text-align: left">&#160;</TD></TR>
  <TR ID="xdx_40E_ecustom--ContractLiabilitiesLessCurrentPortionRelatedParties_iIP3custom--ContractLiabilitiesLessCurrentPortion_pp0p0_maLzQWW_maLzjOf_zV2TnM1M6WR2" STYLE="vertical-align: bottom; background-color: White">
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    <TD STYLE="font: 10pt Times New Roman, Times, Serif; text-align: left">&#160;</TD><TD STYLE="font: 10pt Times New Roman, Times, Serif; text-align: right"><P STYLE="font: 10pt/115% Times New Roman, Times, Serif; margin: 0">3,616,500</P></TD><TD STYLE="font: 10pt Times New Roman, Times, Serif; text-align: left">&#160;</TD></TR>
  <TR ID="xdx_40F_eus-gaap--OperatingLeaseLiabilityNoncurrent_i01I_pp0p0_maLzQWW_zdGd0E9IHnu5" STYLE="vertical-align: bottom; background-color: rgb(204,238,255)">
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    <TD STYLE="font: 10pt Times New Roman, Times, Serif; text-align: left">&#160;</TD><TD STYLE="font: 10pt Times New Roman, Times, Serif; text-align: right">3,767,106</TD><TD STYLE="font: 10pt Times New Roman, Times, Serif; text-align: left">&#160;</TD><TD STYLE="font: 10pt Times New Roman, Times, Serif">&#160;</TD>
    <TD STYLE="font: 10pt Times New Roman, Times, Serif; text-align: left">&#160;</TD><TD STYLE="font: 10pt Times New Roman, Times, Serif; text-align: right">3,867,042</TD><TD STYLE="font: 10pt Times New Roman, Times, Serif; text-align: left">&#160;</TD></TR>
  <TR ID="xdx_403_ecustom--LeaseObligationEdgeDataCentersLessCurrentPortion_i01I_pp0p0_maLzQWW_z6qbK0HcDQ34" STYLE="vertical-align: bottom; background-color: White">
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    <TD STYLE="text-align: left">&#160;</TD><TD STYLE="text-align: right">&#160;</TD><TD STYLE="text-align: left">&#160;</TD><TD>&#160;</TD>
    <TD STYLE="text-align: left">&#160;</TD><TD STYLE="text-align: right">&#160;</TD><TD STYLE="text-align: left">&#160;</TD></TR>
  <TR ID="xdx_406_eus-gaap--Liabilities_i01TI_pp0p0_mtLzQWW_maLASEzSBb_zTje7PSzKFa5" STYLE="vertical-align: bottom; background-color: White">
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    <TD STYLE="text-align: left">&#160;</TD><TD STYLE="text-align: right">&#160;</TD><TD STYLE="text-align: left">&#160;</TD></TR>
  <TR STYLE="vertical-align: bottom; background-color: rgb(204,238,255)">
    <TD STYLE="text-align: right">&#160;</TD><TD>&#160;</TD>
    <TD STYLE="text-align: left">&#160;</TD><TD STYLE="text-align: right">&#160;</TD><TD STYLE="text-align: left">&#160;</TD><TD>&#160;</TD>
    <TD STYLE="text-align: left">&#160;</TD><TD STYLE="text-align: right">&#160;</TD><TD STYLE="text-align: left">&#160;</TD></TR>
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    <TD STYLE="font: 10pt Times New Roman, Times, Serif; text-align: left">&#160;STOCKHOLDERS' EQUITY:</TD><TD>&#160;</TD>
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    <TD STYLE="text-align: left">&#160;</TD><TD STYLE="text-align: right">&#160;</TD><TD STYLE="text-align: left">&#160;</TD></TR>
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    <TD STYLE="text-align: left">&#160;</TD><TD STYLE="text-align: right">&#160;</TD><TD STYLE="text-align: left">&#160;</TD><TD>&#160;</TD>
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    <TD STYLE="font: 10pt Times New Roman, Times, Serif; text-align: left">&#160;</TD><TD ID="xdx_980_eus-gaap--PreferredStockValue_iI_pp0p0_c20241231__us-gaap--StatementClassOfStockAxis__custom--ConvertibleSeriesBPreferredStockMember_zqB8BxzGP7qc" TITLE="Preferred stock, value" STYLE="font: 10pt Times New Roman, Times, Serif; text-align: right">&#8212;</TD><TD STYLE="font: 10pt Times New Roman, Times, Serif; text-align: left">&#160;</TD></TR>
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    <TD STYLE="font: 10pt Times New Roman, Times, Serif; text-align: left">&#160;</TD><TD ID="xdx_981_eus-gaap--PreferredStockValue_iI_pp0p0_c20241231__us-gaap--StatementClassOfStockAxis__custom--ConvertibleSeriesCPreferredStockMember_z5YtopEP4mnb" TITLE="Preferred stock, value" STYLE="font: 10pt Times New Roman, Times, Serif; text-align: right">&#8212;</TD><TD STYLE="font: 10pt Times New Roman, Times, Serif; text-align: left">&#160;</TD></TR>
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    <TD STYLE="font: 10pt Times New Roman, Times, Serif; text-align: left">&#160;</TD><TD ID="xdx_987_eus-gaap--PreferredStockValue_iI_pp0p0_c20241231__us-gaap--StatementClassOfStockAxis__custom--ConvertibleSeriesDPreferredStockMember_zhFzgjWxcqn4" TITLE="Preferred stock, value" STYLE="font: 10pt Times New Roman, Times, Serif; text-align: right">1</TD><TD STYLE="font: 10pt Times New Roman, Times, Serif; text-align: left">&#160;</TD></TR>
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<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: center"><B></B></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: center"><B></B></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: center"><B>&#160;</B></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: center">See accompanying condensed notes to the unaudited consolidated
financial statements.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: center">&#160;&#160;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0"><B>&#160;</B></P>


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<P STYLE="font: 4pt Times New Roman, Times, Serif; margin: 0">&#160;</P>

<P STYLE="font: 4pt Times New Roman, Times, Serif; margin: 0"></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: center"><B>DUOS TECHNOLOGIES GROUP, INC. AND SUBSIDIARIES</B></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: center"><B><FONT ID="a_042"></FONT>CONSOLIDATED STATEMENTS OF OPERATIONS</B></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: center"><B>(Unaudited)</B></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: center"><B></B></P>

<TABLE CELLPADDING="0" CELLSPACING="0" ID="xdx_30A_113_zIhTutA4RCt5" SUMMARY="xdx: Statement - CONSOLIDATED STATEMENTS OF OPERATIONS (Unaudited)" STYLE="font: 12pt Arial, Helvetica, Sans-Serif; border-collapse: collapse; width: 100%">
  <TR STYLE="vertical-align: bottom">
    <TD STYLE="text-align: right">&#160;</TD><TD>&#160;</TD>
    <TD COLSPAN="2" ID="xdx_49E_20250101__20250331_zWR6vOhAUzg1" STYLE="text-align: center">&#160;</TD><TD>&#160;</TD><TD>&#160;</TD>
    <TD COLSPAN="2" ID="xdx_49D_20240101__20240331_zbrIXf9AYwX6" STYLE="text-align: center">&#160;</TD><TD>&#160;</TD></TR>
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    <TD STYLE="text-align: right">&#160;</TD><TD>&#160;</TD>
    <TD COLSPAN="2" STYLE="text-align: center">&#160;</TD><TD>&#160;</TD><TD>&#160;</TD>
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    <TD STYLE="text-align: left">&#160;</TD><TD STYLE="text-align: right">&#160;</TD><TD STYLE="text-align: left">&#160;</TD></TR>
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  <TR STYLE="vertical-align: bottom; background-color: rgb(204,238,255)">
    <TD STYLE="text-align: right">&#160;</TD><TD>&#160;</TD>
    <TD STYLE="text-align: left">&#160;</TD><TD STYLE="text-align: right">&#160;</TD><TD STYLE="text-align: left">&#160;</TD><TD>&#160;</TD>
    <TD STYLE="text-align: left">&#160;</TD><TD STYLE="text-align: right">&#160;</TD><TD STYLE="text-align: left">&#160;</TD></TR>
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  <TR ID="xdx_40A_eus-gaap--CostOfGoodsAndServicesSoldAbstract_iB" STYLE="vertical-align: bottom; background-color: White">
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    <TD STYLE="text-align: right">&#160;</TD><TD>&#160;</TD>
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    <TD STYLE="text-align: right">&#160;</TD><TD>&#160;</TD>
    <TD STYLE="text-align: left">&#160;</TD><TD STYLE="text-align: right">&#160;</TD><TD STYLE="text-align: left">&#160;</TD><TD>&#160;</TD>
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  <TR ID="xdx_40A_eus-gaap--OperatingExpensesAbstract_iB" STYLE="vertical-align: bottom; background-color: rgb(204,238,255)">
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  <TR STYLE="vertical-align: bottom; background-color: rgb(204,238,255)">
    <TD STYLE="text-align: right">&#160;</TD><TD>&#160;</TD>
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<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: center"><B>&#160;</B></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: center"><B></B></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: center">See accompanying condensed notes to the unaudited consolidated
financial statements.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: center">&#160;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: center">&#160;</P>


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<P STYLE="font: 4pt Times New Roman, Times, Serif; margin: 0">&#160;&#160;</P>

<P STYLE="font: 4pt Times New Roman, Times, Serif; margin: 0">&#160;&#160;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: center"><B>DUOS TECHNOLOGIES GROUP, INC. AND SUBSIDIARIES</B></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: center"><B><FONT ID="a_043"></FONT>STATEMENTS OF CHANGES IN STOCKHOLDERS' EQUITY</B></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: center"><B>For the Three Months Ended March 31, 2025 and 2024</B></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: center"><B>(Unaudited)</B></P>

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    <TD COLSPAN="2" STYLE="font-weight: bold; text-align: center"><FONT STYLE="font-size: 8pt">&#160;</FONT></TD><TD STYLE="font-weight: bold"><FONT STYLE="font-size: 8pt">&#160;</FONT></TD><TD STYLE="font-weight: bold"><FONT STYLE="font-size: 8pt">&#160;</FONT></TD>
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    <TD COLSPAN="2" STYLE="font-weight: bold; text-align: center"><FONT STYLE="font-size: 8pt">&#160;</FONT></TD><TD STYLE="font-weight: bold"><FONT STYLE="font-size: 8pt">&#160;</FONT></TD><TD STYLE="font-weight: bold"><FONT STYLE="font-size: 8pt">&#160;</FONT></TD>
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  <TR STYLE="vertical-align: bottom; background-color: White">
    <TD><FONT STYLE="font-size: 9pt">&#160;</FONT></TD><TD><FONT STYLE="font-size: 9pt">&#160;</FONT></TD>
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    <TD STYLE="text-align: left"><FONT STYLE="font-size: 9pt">&#160;</FONT></TD><TD STYLE="text-align: right"><FONT STYLE="font-size: 9pt">&#160;</FONT></TD><TD STYLE="text-align: left"><FONT STYLE="font-size: 9pt">&#160;</FONT></TD><TD><FONT STYLE="font-size: 9pt">&#160;</FONT></TD>
    <TD STYLE="text-align: left"><FONT STYLE="font-size: 9pt">&#160;</FONT></TD><TD STYLE="text-align: right"><FONT STYLE="font-size: 9pt">&#160;</FONT></TD><TD STYLE="text-align: left"><FONT STYLE="font-size: 9pt">&#160;</FONT></TD><TD><FONT STYLE="font-size: 9pt">&#160;</FONT></TD>
    <TD STYLE="text-align: left"><FONT STYLE="font-size: 9pt">&#160;</FONT></TD><TD STYLE="text-align: right"><FONT STYLE="font-size: 9pt">&#160;</FONT></TD><TD STYLE="text-align: left"><FONT STYLE="font-size: 9pt">&#160;</FONT></TD><TD><FONT STYLE="font-size: 9pt">&#160;</FONT></TD>
    <TD STYLE="text-align: left"><FONT STYLE="font-size: 9pt">&#160;</FONT></TD><TD STYLE="text-align: right"><FONT STYLE="font-size: 9pt">&#160;</FONT></TD><TD STYLE="text-align: left"><FONT STYLE="font-size: 9pt">&#160;</FONT></TD><TD><FONT STYLE="font-size: 9pt">&#160;</FONT></TD>
    <TD STYLE="text-align: left"><FONT STYLE="font-size: 9pt">&#160;</FONT></TD><TD STYLE="text-align: right"><FONT STYLE="font-size: 9pt">&#160;</FONT></TD><TD STYLE="text-align: left"><FONT STYLE="font-size: 9pt">&#160;</FONT></TD><TD><FONT STYLE="font-size: 9pt">&#160;</FONT></TD>
    <TD STYLE="text-align: left"><FONT STYLE="font-size: 9pt">&#160;</FONT></TD><TD STYLE="text-align: right"><FONT STYLE="font-size: 9pt">&#160;</FONT></TD><TD STYLE="text-align: left"><FONT STYLE="font-size: 9pt">&#160;</FONT></TD><TD><FONT STYLE="font-size: 9pt">&#160;</FONT></TD>
    <TD STYLE="text-align: left"><FONT STYLE="font-size: 9pt">&#160;</FONT></TD><TD STYLE="text-align: right"><FONT STYLE="font-size: 9pt">&#160;</FONT></TD><TD STYLE="text-align: left"><FONT STYLE="font-size: 9pt">&#160;</FONT></TD><TD><FONT STYLE="font-size: 9pt">&#160;</FONT></TD>
    <TD STYLE="text-align: left"><FONT STYLE="font-size: 9pt">&#160;</FONT></TD><TD STYLE="text-align: right"><FONT STYLE="font-size: 9pt">&#160;</FONT></TD><TD STYLE="text-align: left"><FONT STYLE="font-size: 9pt">&#160;</FONT></TD><TD><FONT STYLE="font-size: 9pt">&#160;</FONT></TD>
    <TD STYLE="text-align: left"><FONT STYLE="font-size: 9pt">&#160;</FONT></TD><TD STYLE="text-align: right"><FONT STYLE="font-size: 9pt">&#160;</FONT></TD><TD STYLE="text-align: left"><FONT STYLE="font-size: 9pt">&#160;</FONT></TD><TD><FONT STYLE="font-size: 9pt">&#160;</FONT></TD>
    <TD STYLE="text-align: left"><FONT STYLE="font-size: 9pt">&#160;</FONT></TD><TD STYLE="text-align: right"><FONT STYLE="font-size: 9pt">&#160;</FONT></TD><TD STYLE="text-align: left"><FONT STYLE="font-size: 9pt">&#160;</FONT></TD><TD><FONT STYLE="font-size: 9pt">&#160;</FONT></TD>
    <TD STYLE="text-align: left"><FONT STYLE="font-size: 9pt">&#160;</FONT></TD><TD STYLE="text-align: right"><FONT STYLE="font-size: 9pt">&#160;</FONT></TD><TD STYLE="text-align: left"><FONT STYLE="font-size: 9pt">&#160;</FONT></TD><TD><FONT STYLE="font-size: 9pt">&#160;</FONT></TD>
    <TD STYLE="text-align: left"><FONT STYLE="font-size: 9pt">&#160;</FONT></TD><TD STYLE="text-align: right"><FONT STYLE="font-size: 9pt">&#160;</FONT></TD><TD STYLE="text-align: left"><FONT STYLE="font-size: 9pt">&#160;</FONT></TD><TD><FONT STYLE="font-size: 9pt">&#160;</FONT></TD>
    <TD STYLE="text-align: left"><FONT STYLE="font-size: 9pt">&#160;</FONT></TD><TD STYLE="text-align: right"><FONT STYLE="font-size: 9pt">&#160;</FONT></TD><TD STYLE="text-align: left"><FONT STYLE="font-size: 9pt">&#160;</FONT></TD><TD><FONT STYLE="font-size: 9pt">&#160;</FONT></TD>
    <TD STYLE="text-align: left"><FONT STYLE="font-size: 9pt">&#160;</FONT></TD><TD STYLE="text-align: right"><FONT STYLE="font-size: 9pt">&#160;</FONT></TD><TD STYLE="text-align: left"><FONT STYLE="font-size: 9pt">&#160;</FONT></TD><TD><FONT STYLE="font-size: 9pt">&#160;</FONT></TD>
    <TD STYLE="text-align: left"><FONT STYLE="font-size: 9pt">&#160;</FONT></TD><TD STYLE="text-align: right"><FONT STYLE="font-size: 9pt">&#160;</FONT></TD><TD STYLE="text-align: left"><FONT STYLE="font-size: 9pt">&#160;</FONT></TD></TR>
  <TR ID="xdx_408_ecustom--SeriesDPreferredStockIssued_i_pp0p0" STYLE="vertical-align: bottom; background-color: rgb(204,238,255)">
    <TD STYLE="text-align: left"><FONT STYLE="font-size: 9pt">Series D convertible preferred stock issued</FONT></TD><TD><FONT STYLE="font-size: 9pt">&#160;</FONT></TD>
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    <TD STYLE="text-align: left"><FONT STYLE="font-size: 9pt">&#160;</FONT></TD><TD STYLE="text-align: right"><FONT STYLE="font-size: 9pt">&#8212;</FONT></TD><TD STYLE="text-align: left"><FONT STYLE="font-size: 9pt">&#160;</FONT></TD><TD><FONT STYLE="font-size: 9pt">&#160;</FONT></TD>
    <TD STYLE="text-align: left"><FONT STYLE="font-size: 9pt">&#160;</FONT></TD><TD STYLE="text-align: right"><FONT STYLE="font-size: 9pt">&#8212;</FONT></TD><TD STYLE="text-align: left"><FONT STYLE="font-size: 9pt">&#160;</FONT></TD><TD><FONT STYLE="font-size: 9pt">&#160;</FONT></TD>
    <TD STYLE="text-align: left"><FONT STYLE="font-size: 9pt">&#160;</FONT></TD><TD STYLE="text-align: right"><FONT STYLE="font-size: 9pt">&#8212;</FONT></TD><TD STYLE="text-align: left"><FONT STYLE="font-size: 9pt">&#160;</FONT></TD><TD><FONT STYLE="font-size: 9pt">&#160;</FONT></TD>
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    <TD STYLE="text-align: left"><FONT STYLE="font-size: 9pt">&#160;</FONT></TD><TD STYLE="text-align: right"><FONT STYLE="font-size: 9pt">1</FONT></TD><TD STYLE="text-align: left"><FONT STYLE="font-size: 9pt">&#160;</FONT></TD><TD><FONT STYLE="font-size: 9pt">&#160;</FONT></TD>
    <TD STYLE="text-align: left"><FONT STYLE="font-size: 9pt">&#160;</FONT></TD><TD STYLE="text-align: right"><FONT STYLE="font-size: 9pt">&#8212;</FONT></TD><TD STYLE="text-align: left"><FONT STYLE="font-size: 9pt">&#160;</FONT></TD><TD><FONT STYLE="font-size: 9pt">&#160;</FONT></TD>
    <TD STYLE="text-align: left"><FONT STYLE="font-size: 9pt">&#160;</FONT></TD><TD STYLE="text-align: right"><FONT STYLE="font-size: 9pt">&#8212;</FONT></TD><TD STYLE="text-align: left"><FONT STYLE="font-size: 9pt">&#160;</FONT></TD><TD><FONT STYLE="font-size: 9pt">&#160;</FONT></TD>
    <TD STYLE="text-align: left"><FONT STYLE="font-size: 9pt">&#160;</FONT></TD><TD STYLE="text-align: right"><FONT STYLE="font-size: 9pt">&#8212;</FONT></TD><TD STYLE="text-align: left"><FONT STYLE="font-size: 9pt">&#160;</FONT></TD><TD><FONT STYLE="font-size: 9pt">&#160;</FONT></TD>
    <TD STYLE="text-align: left"><FONT STYLE="font-size: 9pt">&#160;</FONT></TD><TD STYLE="text-align: right"><FONT STYLE="font-size: 9pt">&#8212;</FONT></TD><TD STYLE="text-align: left"><FONT STYLE="font-size: 9pt">&#160;</FONT></TD><TD><FONT STYLE="font-size: 9pt">&#160;</FONT></TD>
    <TD STYLE="text-align: left"><FONT STYLE="font-size: 9pt">&#160;</FONT></TD><TD STYLE="text-align: right"><FONT STYLE="font-size: 9pt">&#8212;</FONT></TD><TD STYLE="text-align: left"><FONT STYLE="font-size: 9pt">&#160;</FONT></TD><TD><FONT STYLE="font-size: 9pt">&#160;</FONT></TD>
    <TD STYLE="text-align: left"><FONT STYLE="font-size: 9pt">&#160;</FONT></TD><TD STYLE="text-align: right"><FONT STYLE="font-size: 9pt">&#8212;</FONT></TD><TD STYLE="text-align: left"><FONT STYLE="font-size: 9pt">&#160;</FONT></TD><TD><FONT STYLE="font-size: 9pt">&#160;</FONT></TD>
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    <TD STYLE="text-align: left"><FONT STYLE="font-size: 9pt">&#160;</FONT></TD><TD STYLE="text-align: right"><FONT STYLE="font-size: 9pt">&#8212;</FONT></TD><TD STYLE="text-align: left"><FONT STYLE="font-size: 9pt">&#160;</FONT></TD><TD><FONT STYLE="font-size: 9pt">&#160;</FONT></TD>
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  <TR STYLE="vertical-align: bottom; background-color: White">
    <TD><FONT STYLE="font-size: 9pt">&#160;</FONT></TD><TD><FONT STYLE="font-size: 9pt">&#160;</FONT></TD>
    <TD STYLE="text-align: left"><FONT STYLE="font-size: 9pt">&#160;</FONT></TD><TD STYLE="text-align: right"><FONT STYLE="font-size: 9pt">&#160;</FONT></TD><TD STYLE="text-align: left"><FONT STYLE="font-size: 9pt">&#160;</FONT></TD><TD><FONT STYLE="font-size: 9pt">&#160;</FONT></TD>
    <TD STYLE="text-align: left"><FONT STYLE="font-size: 9pt">&#160;</FONT></TD><TD STYLE="text-align: right"><FONT STYLE="font-size: 9pt">&#160;</FONT></TD><TD STYLE="text-align: left"><FONT STYLE="font-size: 9pt">&#160;</FONT></TD><TD><FONT STYLE="font-size: 9pt">&#160;</FONT></TD>
    <TD STYLE="text-align: left"><FONT STYLE="font-size: 9pt">&#160;</FONT></TD><TD STYLE="text-align: right"><FONT STYLE="font-size: 9pt">&#160;</FONT></TD><TD STYLE="text-align: left"><FONT STYLE="font-size: 9pt">&#160;</FONT></TD><TD><FONT STYLE="font-size: 9pt">&#160;</FONT></TD>
    <TD STYLE="text-align: left"><FONT STYLE="font-size: 9pt">&#160;</FONT></TD><TD STYLE="text-align: right"><FONT STYLE="font-size: 9pt">&#160;</FONT></TD><TD STYLE="text-align: left"><FONT STYLE="font-size: 9pt">&#160;</FONT></TD><TD><FONT STYLE="font-size: 9pt">&#160;</FONT></TD>
    <TD STYLE="text-align: left"><FONT STYLE="font-size: 9pt">&#160;</FONT></TD><TD STYLE="text-align: right"><FONT STYLE="font-size: 9pt">&#160;</FONT></TD><TD STYLE="text-align: left"><FONT STYLE="font-size: 9pt">&#160;</FONT></TD><TD><FONT STYLE="font-size: 9pt">&#160;</FONT></TD>
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    <TD STYLE="text-align: left"><FONT STYLE="font-size: 9pt">&#160;</FONT></TD><TD STYLE="text-align: right"><FONT STYLE="font-size: 9pt">&#160;</FONT></TD><TD STYLE="text-align: left"><FONT STYLE="font-size: 9pt">&#160;</FONT></TD><TD><FONT STYLE="font-size: 9pt">&#160;</FONT></TD>
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    <TD><FONT STYLE="font-size: 9pt">&#160;</FONT></TD><TD><FONT STYLE="font-size: 9pt">&#160;</FONT></TD>
    <TD STYLE="text-align: left"><FONT STYLE="font-size: 9pt">&#160;</FONT></TD><TD STYLE="text-align: right"><FONT STYLE="font-size: 9pt">&#160;</FONT></TD><TD STYLE="text-align: left"><FONT STYLE="font-size: 9pt">&#160;</FONT></TD><TD><FONT STYLE="font-size: 9pt">&#160;</FONT></TD>
    <TD STYLE="text-align: left"><FONT STYLE="font-size: 9pt">&#160;</FONT></TD><TD STYLE="text-align: right"><FONT STYLE="font-size: 9pt">&#160;</FONT></TD><TD STYLE="text-align: left"><FONT STYLE="font-size: 9pt">&#160;</FONT></TD><TD><FONT STYLE="font-size: 9pt">&#160;</FONT></TD>
    <TD STYLE="text-align: left"><FONT STYLE="font-size: 9pt">&#160;</FONT></TD><TD STYLE="text-align: right"><FONT STYLE="font-size: 9pt">&#160;</FONT></TD><TD STYLE="text-align: left"><FONT STYLE="font-size: 9pt">&#160;</FONT></TD><TD><FONT STYLE="font-size: 9pt">&#160;</FONT></TD>
    <TD STYLE="text-align: left"><FONT STYLE="font-size: 9pt">&#160;</FONT></TD><TD STYLE="text-align: right"><FONT STYLE="font-size: 9pt">&#160;</FONT></TD><TD STYLE="text-align: left"><FONT STYLE="font-size: 9pt">&#160;</FONT></TD><TD><FONT STYLE="font-size: 9pt">&#160;</FONT></TD>
    <TD STYLE="text-align: left"><FONT STYLE="font-size: 9pt">&#160;</FONT></TD><TD STYLE="text-align: right"><FONT STYLE="font-size: 9pt">&#160;</FONT></TD><TD STYLE="text-align: left"><FONT STYLE="font-size: 9pt">&#160;</FONT></TD><TD><FONT STYLE="font-size: 9pt">&#160;</FONT></TD>
    <TD STYLE="text-align: left"><FONT STYLE="font-size: 9pt">&#160;</FONT></TD><TD STYLE="text-align: right"><FONT STYLE="font-size: 9pt">&#160;</FONT></TD><TD STYLE="text-align: left"><FONT STYLE="font-size: 9pt">&#160;</FONT></TD><TD><FONT STYLE="font-size: 9pt">&#160;</FONT></TD>
    <TD STYLE="text-align: left"><FONT STYLE="font-size: 9pt">&#160;</FONT></TD><TD STYLE="text-align: right"><FONT STYLE="font-size: 9pt">&#160;</FONT></TD><TD STYLE="text-align: left"><FONT STYLE="font-size: 9pt">&#160;</FONT></TD><TD><FONT STYLE="font-size: 9pt">&#160;</FONT></TD>
    <TD STYLE="text-align: left"><FONT STYLE="font-size: 9pt">&#160;</FONT></TD><TD STYLE="text-align: right"><FONT STYLE="font-size: 9pt">&#160;</FONT></TD><TD STYLE="text-align: left"><FONT STYLE="font-size: 9pt">&#160;</FONT></TD><TD><FONT STYLE="font-size: 9pt">&#160;</FONT></TD>
    <TD STYLE="text-align: left"><FONT STYLE="font-size: 9pt">&#160;</FONT></TD><TD STYLE="text-align: right"><FONT STYLE="font-size: 9pt">&#160;</FONT></TD><TD STYLE="text-align: left"><FONT STYLE="font-size: 9pt">&#160;</FONT></TD><TD><FONT STYLE="font-size: 9pt">&#160;</FONT></TD>
    <TD STYLE="text-align: left"><FONT STYLE="font-size: 9pt">&#160;</FONT></TD><TD STYLE="text-align: right"><FONT STYLE="font-size: 9pt">&#160;</FONT></TD><TD STYLE="text-align: left"><FONT STYLE="font-size: 9pt">&#160;</FONT></TD><TD><FONT STYLE="font-size: 9pt">&#160;</FONT></TD>
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<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: center"><B>&#160;</B></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: center"><B>&#160;</B></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: center"><B>&#160;</B></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: center">See accompanying condensed notes to the unaudited consolidated
financial statements.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: center">&#160;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: center"></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: center">&#160;</P>


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<P STYLE="font: 4pt Times New Roman, Times, Serif; margin: 0">&#160;&#160;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: center"><B>DUOS TECHNOLOGIES GROUP, INC. AND SUBSIDIARIES</B></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: center"><B><FONT ID="a_044"></FONT>CONSOLIDATED STATEMENTS OF CASH FLOWS</B></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: center"><B>(Unaudited)</B></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: center"><B></B></P>

<TABLE CELLPADDING="0" CELLSPACING="0" ID="xdx_303_112_zwNy1uS9Z6j1" SUMMARY="xdx: Statement - CONSOLIDATED STATEMENTS OF CASH FLOWS (Unaudited)" STYLE="font: 12pt Arial, Helvetica, Sans-Serif; border-collapse: collapse; width: 100%">
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  <TR ID="xdx_407_eus-gaap--ShareBasedCompensation_i01_pp0p0_maNCPBUzHoY_zAzP9LEQwROl" STYLE="vertical-align: bottom; background-color: White">
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  <TR ID="xdx_404_eus-gaap--IssuanceOfStockAndWarrantsForServicesOrClaims_i01_pp0p0_maNCPBUzHoY_zkPi9vy1U6Q" STYLE="vertical-align: bottom; background-color: rgb(204,238,255)">
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  <TR ID="xdx_405_ecustom--AmortizationOfDebtDiscountRelatedToWarrantLiabilities_i01_pp0p0_maNCPBUzHoY_zL73AFUSUiP" STYLE="vertical-align: bottom; background-color: White">
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  <TR ID="xdx_404_ecustom--AmortizationOfDebtDiscountRelatedToWarrantLiability_i01_pp0p0_maNCPBUzHoY_zjD13ZaJXX8" STYLE="vertical-align: bottom; background-color: rgb(204,238,255)">
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  <TR ID="xdx_402_ecustom--AmortizationOfLeaseRightOfUseAssetEdgeDataCenters_i01_pp0p0_maNCPBUzHoY_z69qfSlXEmP3" STYLE="vertical-align: bottom; background-color: White">
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    <TD STYLE="font: 10pt Times New Roman, Times, Serif; text-align: left">&#160;</TD><TD STYLE="font: 10pt Times New Roman, Times, Serif; text-align: right">&#8212;</TD><TD STYLE="font: 10pt Times New Roman, Times, Serif; text-align: left">&#160;</TD></TR>
  <TR ID="xdx_40E_eus-gaap--IncreaseDecreaseInOtherOperatingAssetsAndLiabilitiesNetAbstract_i01B" STYLE="vertical-align: bottom; background-color: rgb(204,238,255)">
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    <TD STYLE="text-align: left">&#160;</TD><TD STYLE="text-align: right">&#160;</TD><TD STYLE="text-align: left">&#160;</TD></TR>
  <TR ID="xdx_408_eus-gaap--IncreaseDecreaseInReceivables_i02N_pp0p0_di_msNCPBUzHoY_zh6noQKY6j3b" STYLE="vertical-align: bottom; background-color: White">
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    <TD STYLE="font: 10pt Times New Roman, Times, Serif; text-align: left">&#160;</TD><TD STYLE="font: 10pt Times New Roman, Times, Serif; text-align: right">(106,053</TD><TD STYLE="font: 10pt Times New Roman, Times, Serif; text-align: left">)</TD><TD STYLE="font: 10pt Times New Roman, Times, Serif">&#160;</TD>
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  <TR ID="xdx_408_ecustom--IncreaseDecreaseInReceivablesRealatedParties_iNP3us-gaap--IncreaseDecreaseInReceivables_pp0p0_di_msNCPBUzHoY_msCzIfz_zch4Nw7uWhSc" STYLE="vertical-align: bottom; background-color: rgb(204,238,255)">
    <TD STYLE="font: 10pt Times New Roman, Times, Serif; text-align: left">&#160;&#160;&#160;Accounts receivable - related parties</TD><TD STYLE="font: 10pt Times New Roman, Times, Serif">&#160;</TD>
    <TD STYLE="font: 10pt Times New Roman, Times, Serif; text-align: left">&#160;</TD><TD STYLE="font: 10pt Times New Roman, Times, Serif; text-align: right">(1,466,191</TD><TD STYLE="font: 10pt Times New Roman, Times, Serif; text-align: left">)</TD><TD STYLE="font: 10pt Times New Roman, Times, Serif">&#160;</TD>
    <TD STYLE="font: 10pt Times New Roman, Times, Serif; text-align: left">&#160;</TD><TD STYLE="font: 10pt Times New Roman, Times, Serif; text-align: right">&#8212;</TD><TD STYLE="font: 10pt Times New Roman, Times, Serif; text-align: left">&#160;</TD></TR>
  <TR ID="xdx_403_eus-gaap--IncreaseDecreaseInNotesReceivableCurrent_i02N_pp0p0_di_msNCPBUzHoY_zpPmCR1PsAGa" STYLE="vertical-align: bottom; background-color: White">
    <TD STYLE="font: 10pt Times New Roman, Times, Serif; text-align: left">&#160;&#160;&#160;Note receivable</TD><TD STYLE="font: 10pt Times New Roman, Times, Serif">&#160;</TD>
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    <TD STYLE="font: 10pt Times New Roman, Times, Serif; text-align: left">&#160;</TD><TD STYLE="font: 10pt Times New Roman, Times, Serif; text-align: right">(1,875</TD><TD STYLE="font: 10pt Times New Roman, Times, Serif; text-align: left">)</TD></TR>
  <TR ID="xdx_400_eus-gaap--IncreaseDecreaseInContractWithCustomerAsset_i02N_pp0p0_di_msNCPBUzHoY_zi0xwTmMVj72" STYLE="vertical-align: bottom; background-color: rgb(204,238,255)">
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    <TD STYLE="font: 10pt Times New Roman, Times, Serif; text-align: left">&#160;</TD><TD STYLE="font: 10pt Times New Roman, Times, Serif; text-align: right">(64,684</TD><TD STYLE="font: 10pt Times New Roman, Times, Serif; text-align: left">)</TD><TD STYLE="font: 10pt Times New Roman, Times, Serif">&#160;</TD>
    <TD STYLE="font: 10pt Times New Roman, Times, Serif; text-align: left">&#160;</TD><TD STYLE="font: 10pt Times New Roman, Times, Serif; text-align: right">(270,099</TD><TD STYLE="font: 10pt Times New Roman, Times, Serif; text-align: left">)</TD></TR>
  <TR ID="xdx_40A_eus-gaap--IncreaseDecreaseInInventories_i02N_pp0p0_di_msNCPBUzHoY_zP7LsXDN3eLb" STYLE="vertical-align: bottom; background-color: White">
    <TD STYLE="font: 10pt Times New Roman, Times, Serif">&#160;&#160;&#160;Inventory</TD><TD STYLE="font: 10pt Times New Roman, Times, Serif">&#160;</TD>
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    <TD STYLE="font: 10pt Times New Roman, Times, Serif; text-align: left">&#160;</TD><TD STYLE="font: 10pt Times New Roman, Times, Serif; text-align: right">23,828</TD><TD STYLE="font: 10pt Times New Roman, Times, Serif; text-align: left">&#160;</TD></TR>
  <TR ID="xdx_400_eus-gaap--IncreaseDecreaseInPrepaidDeferredExpenseAndOtherAssets_i02N_pp0p0_di_msNCPBUzHoY_z7hzhmyHu5Lf" STYLE="vertical-align: bottom; background-color: rgb(204,238,255)">
    <TD STYLE="font: 10pt Times New Roman, Times, Serif; text-align: left">&#160;&#160;&#160;Prepaid expenses and other current assets</TD><TD STYLE="font: 10pt Times New Roman, Times, Serif">&#160;</TD>
    <TD STYLE="font: 10pt Times New Roman, Times, Serif; text-align: left">&#160;</TD><TD STYLE="font: 10pt Times New Roman, Times, Serif; text-align: right">(42,467</TD><TD STYLE="font: 10pt Times New Roman, Times, Serif; text-align: left">)</TD><TD STYLE="font: 10pt Times New Roman, Times, Serif">&#160;</TD>
    <TD STYLE="font: 10pt Times New Roman, Times, Serif; text-align: left">&#160;</TD><TD STYLE="font: 10pt Times New Roman, Times, Serif; text-align: right">57,944</TD><TD STYLE="font: 10pt Times New Roman, Times, Serif; text-align: left">&#160;</TD></TR>
  <TR ID="xdx_40E_eus-gaap--IncreaseDecreaseInAccountsPayable_i02_pp0p0_maNCPBUzHoY_zQ268WyXfNCd" STYLE="vertical-align: bottom; background-color: White">
    <TD STYLE="font: 10pt Times New Roman, Times, Serif; text-align: left">&#160;&#160;&#160;Accounts payable</TD><TD STYLE="font: 10pt Times New Roman, Times, Serif">&#160;</TD>
    <TD STYLE="font: 10pt Times New Roman, Times, Serif; text-align: left">&#160;</TD><TD STYLE="font: 10pt Times New Roman, Times, Serif; text-align: right">(271,304</TD><TD STYLE="font: 10pt Times New Roman, Times, Serif; text-align: left">)</TD><TD STYLE="font: 10pt Times New Roman, Times, Serif">&#160;</TD>
    <TD STYLE="font: 10pt Times New Roman, Times, Serif; text-align: left">&#160;</TD><TD STYLE="font: 10pt Times New Roman, Times, Serif; text-align: right">(415,718</TD><TD STYLE="font: 10pt Times New Roman, Times, Serif; text-align: left">)</TD></TR>
  <TR ID="xdx_408_eus-gaap--IncreaseDecreaseInAccruedLiabilities_i02_pp0p0_maNCPBUzHoY_zb5OvkC8TlZe" STYLE="vertical-align: bottom; background-color: rgb(204,238,255)">
    <TD STYLE="font: 10pt Times New Roman, Times, Serif; text-align: left">&#160;&#160;&#160;Accrued expenses</TD><TD STYLE="font: 10pt Times New Roman, Times, Serif">&#160;</TD>
    <TD STYLE="font: 10pt Times New Roman, Times, Serif; text-align: left">&#160;</TD><TD STYLE="font: 10pt Times New Roman, Times, Serif; text-align: right">77,879</TD><TD STYLE="font: 10pt Times New Roman, Times, Serif; text-align: left">&#160;</TD><TD STYLE="font: 10pt Times New Roman, Times, Serif">&#160;</TD>
    <TD STYLE="font: 10pt Times New Roman, Times, Serif; text-align: left">&#160;</TD><TD STYLE="font: 10pt Times New Roman, Times, Serif; text-align: right">76,370</TD><TD STYLE="font: 10pt Times New Roman, Times, Serif; text-align: left">&#160;</TD></TR>
  <TR ID="xdx_40E_eus-gaap--IncreaseDecreaseInOperatingLeaseLiability_i02_pp0p0_maNCPBUzHoY_z0MQk3QmECMi" STYLE="vertical-align: bottom; background-color: White">
    <TD STYLE="font: 10pt Times New Roman, Times, Serif; text-align: left">&#160;&#160;&#160;Operating lease obligation - Office Lease</TD><TD STYLE="font: 10pt Times New Roman, Times, Serif">&#160;</TD>
    <TD STYLE="font: 10pt Times New Roman, Times, Serif; text-align: left">&#160;</TD><TD STYLE="font: 10pt Times New Roman, Times, Serif; text-align: right">(94,956</TD><TD STYLE="font: 10pt Times New Roman, Times, Serif; text-align: left">)</TD><TD STYLE="font: 10pt Times New Roman, Times, Serif">&#160;</TD>
    <TD STYLE="font: 10pt Times New Roman, Times, Serif; text-align: left">&#160;</TD><TD STYLE="font: 10pt Times New Roman, Times, Serif; text-align: right">(82,306</TD><TD STYLE="font: 10pt Times New Roman, Times, Serif; text-align: left">)</TD></TR>
  <TR ID="xdx_40E_eus-gaap--ProceedsFromLongTermCapitalLeaseObligations_i02_pp0p0_maNCPBUzHoY_zok9vsKynkNk" STYLE="vertical-align: bottom; background-color: rgb(204,238,255)">
    <TD STYLE="font: 10pt Times New Roman, Times, Serif; text-align: left">&#160;&#160;&#160;Lease obligation - Edge Data Centers</TD><TD STYLE="font: 10pt Times New Roman, Times, Serif">&#160;</TD>
    <TD STYLE="font: 10pt Times New Roman, Times, Serif; text-align: left">&#160;</TD><TD STYLE="font: 10pt Times New Roman, Times, Serif; text-align: right">33,680</TD><TD STYLE="font: 10pt Times New Roman, Times, Serif; text-align: left">&#160;</TD><TD STYLE="font: 10pt Times New Roman, Times, Serif">&#160;</TD>
    <TD STYLE="font: 10pt Times New Roman, Times, Serif; text-align: left">&#160;</TD><TD STYLE="font: 10pt Times New Roman, Times, Serif; text-align: right">&#8212;</TD><TD STYLE="font: 10pt Times New Roman, Times, Serif; text-align: left">&#160;</TD></TR>
  <TR ID="xdx_403_eus-gaap--IncreaseDecreaseInContractWithCustomerLiability_i02_pp0p0_maNCPBUzHoY_zd8qBnJZ2nwk" STYLE="vertical-align: bottom; background-color: White">
    <TD STYLE="font: 10pt Times New Roman, Times, Serif; text-align: left; padding-bottom: 1pt">&#160;&#160;&#160;Contract liabilities</TD><TD STYLE="font: 10pt Times New Roman, Times, Serif; padding-bottom: 1pt">&#160;</TD>
    <TD STYLE="border-bottom: Black 1pt solid; font: 10pt Times New Roman, Times, Serif; text-align: left">&#160;</TD><TD STYLE="border-bottom: Black 1pt solid; font: 10pt Times New Roman, Times, Serif; text-align: right">(2,889,411</TD><TD STYLE="font: 10pt Times New Roman, Times, Serif; padding-bottom: 1pt; text-align: left">)</TD><TD STYLE="font: 10pt Times New Roman, Times, Serif; padding-bottom: 1pt">&#160;</TD>
    <TD STYLE="border-bottom: Black 1pt solid; font: 10pt Times New Roman, Times, Serif; text-align: left">&#160;</TD><TD STYLE="border-bottom: Black 1pt solid; font: 10pt Times New Roman, Times, Serif; text-align: right">26,697</TD><TD STYLE="font: 10pt Times New Roman, Times, Serif; padding-bottom: 1pt; text-align: left">&#160;</TD></TR>
  <TR STYLE="vertical-align: bottom; background-color: rgb(204,238,255)">
    <TD>&#160;</TD><TD>&#160;</TD>
    <TD STYLE="text-align: left">&#160;</TD><TD STYLE="text-align: right">&#160;</TD><TD STYLE="text-align: left">&#160;</TD><TD>&#160;</TD>
    <TD STYLE="text-align: left">&#160;</TD><TD STYLE="text-align: right">&#160;</TD><TD STYLE="text-align: left">&#160;</TD></TR>
  <TR ID="xdx_40D_eus-gaap--NetCashProvidedByUsedInOperatingActivities_iT_pp0p0_mtNCPBUzHoY_maCCERCzbIp_zdkKX19JrWma" STYLE="vertical-align: bottom; background-color: White">
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    <TD STYLE="font: 10pt Times New Roman, Times, Serif; text-align: left">&#160;</TD><TD STYLE="font: 10pt Times New Roman, Times, Serif; text-align: right">(4,673,425</TD><TD STYLE="font: 10pt Times New Roman, Times, Serif; text-align: left">)</TD><TD STYLE="font: 10pt Times New Roman, Times, Serif">&#160;</TD>
    <TD STYLE="font: 10pt Times New Roman, Times, Serif; text-align: left">&#160;</TD><TD STYLE="font: 10pt Times New Roman, Times, Serif; text-align: right">(2,032,719</TD><TD STYLE="font: 10pt Times New Roman, Times, Serif; text-align: left">)</TD></TR>
  <TR STYLE="vertical-align: bottom; background-color: rgb(204,238,255)">
    <TD>&#160;</TD><TD>&#160;</TD>
    <TD STYLE="text-align: left">&#160;</TD><TD STYLE="text-align: right">&#160;</TD><TD STYLE="text-align: left">&#160;</TD><TD>&#160;</TD>
    <TD STYLE="text-align: left">&#160;</TD><TD STYLE="text-align: right">&#160;</TD><TD STYLE="text-align: left">&#160;</TD></TR>
  <TR ID="xdx_40E_eus-gaap--NetCashProvidedByUsedInInvestingActivitiesAbstract_iB" STYLE="vertical-align: bottom; background-color: White">
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    <TD STYLE="text-align: left">&#160;</TD><TD STYLE="text-align: right">&#160;</TD><TD STYLE="text-align: left">&#160;</TD><TD>&#160;</TD>
    <TD STYLE="text-align: left">&#160;</TD><TD STYLE="text-align: right">&#160;</TD><TD STYLE="text-align: left">&#160;</TD></TR>
  <TR ID="xdx_40F_eus-gaap--PaymentsToAcquireIntangibleAssets_i01N_pp0p0_di_msNCPBUz8Tg_zE6C7rgqpsd9" STYLE="vertical-align: bottom; background-color: rgb(204,238,255)">
    <TD STYLE="font: 10pt Times New Roman, Times, Serif">&#160;&#160;&#160;&#160;Purchase of patents/trademarks</TD><TD STYLE="font: 10pt Times New Roman, Times, Serif">&#160;</TD>
    <TD STYLE="font: 10pt Times New Roman, Times, Serif; text-align: left">&#160;</TD><TD STYLE="font: 10pt Times New Roman, Times, Serif; text-align: right">(9,264</TD><TD STYLE="font: 10pt Times New Roman, Times, Serif; text-align: left">)</TD><TD STYLE="font: 10pt Times New Roman, Times, Serif">&#160;</TD>
    <TD STYLE="font: 10pt Times New Roman, Times, Serif; text-align: left">&#160;</TD><TD STYLE="font: 10pt Times New Roman, Times, Serif; text-align: right">(980</TD><TD STYLE="font: 10pt Times New Roman, Times, Serif; text-align: left">)</TD></TR>
  <TR ID="xdx_402_eus-gaap--PaymentsToAcquirePropertyPlantAndEquipment_i01N_pp0p0_di_msNCPBUz8Tg_zAU4H4ta1m64" STYLE="vertical-align: bottom; background-color: White">
    <TD STYLE="font: 10pt Times New Roman, Times, Serif; text-align: left; padding-bottom: 1pt">&#160;&#160;&#160;&#160;Purchase of fixed assets</TD><TD STYLE="font: 10pt Times New Roman, Times, Serif; padding-bottom: 1pt">&#160;</TD>
    <TD STYLE="border-bottom: Black 1pt solid; font: 10pt Times New Roman, Times, Serif; text-align: left">&#160;</TD><TD STYLE="border-bottom: Black 1pt solid; font: 10pt Times New Roman, Times, Serif; text-align: right">(572,359</TD><TD STYLE="font: 10pt Times New Roman, Times, Serif; padding-bottom: 1pt; text-align: left">)</TD><TD STYLE="font: 10pt Times New Roman, Times, Serif; padding-bottom: 1pt">&#160;</TD>
    <TD STYLE="border-bottom: Black 1pt solid; font: 10pt Times New Roman, Times, Serif; text-align: left">&#160;</TD><TD STYLE="border-bottom: Black 1pt solid; font: 10pt Times New Roman, Times, Serif; text-align: right">(8,830</TD><TD STYLE="font: 10pt Times New Roman, Times, Serif; padding-bottom: 1pt; text-align: left">)</TD></TR>
  <TR STYLE="vertical-align: bottom; background-color: rgb(204,238,255)">
    <TD>&#160;</TD><TD>&#160;</TD>
    <TD STYLE="text-align: left">&#160;</TD><TD STYLE="text-align: right">&#160;</TD><TD STYLE="text-align: left">&#160;</TD><TD>&#160;</TD>
    <TD STYLE="text-align: left">&#160;</TD><TD STYLE="text-align: right">&#160;</TD><TD STYLE="text-align: left">&#160;</TD></TR>
  <TR ID="xdx_406_eus-gaap--NetCashProvidedByUsedInInvestingActivities_iT_pp0p0_mtNCPBUz8Tg_maCCERCzbIp_zl3C7mqcy1V4" STYLE="vertical-align: bottom; background-color: White">
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    <TD STYLE="text-align: left">&#160;</TD><TD STYLE="text-align: right">&#160;</TD><TD STYLE="text-align: left">&#160;</TD><TD>&#160;</TD>
    <TD STYLE="text-align: left">&#160;</TD><TD STYLE="text-align: right">&#160;</TD><TD STYLE="text-align: left">&#160;</TD></TR>
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    <TD STYLE="font: bold 10pt Times New Roman, Times, Serif; text-decoration: underline; text-align: left">Supplemental Disclosure of Cash Flow Information:</TD><TD>&#160;</TD>
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    <TD STYLE="text-align: left">&#160;</TD><TD STYLE="text-align: right">&#160;</TD><TD STYLE="text-align: left">&#160;</TD></TR>
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<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: center"><B>&#160;</B></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: center"><B>&#160;&#160;</B></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: center">See accompanying condensed notes to the unaudited consolidated
financial statements.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: center"><B>&#160;</B></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: center"><B>&#160;</B></P>

<P STYLE="font: 4pt Times New Roman, Times, Serif; margin: 0">&#160;</P>


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<P STYLE="font: 4pt Times New Roman, Times, Serif; margin: 0">&#160;</P>

<P ID="xdx_049_c20250101__20250331_zmSaf8kmNQ18" STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: center"><B>DUOS TECHNOLOGIES GROUP, INC. AND SUBSIDIARIES</B></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: center"><B><FONT ID="a_045"></FONT>CONDENSED NOTES TO THE CONSOLIDATED FINANCIAL STATEMENTS</B></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: center"><B>March 31, 2025</B></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: center"><B>(Unaudited)</B></P>

<P STYLE="font: 4pt Times New Roman, Times, Serif; margin: 0">&#160;</P>

<P STYLE="font: 4pt Times New Roman, Times, Serif; margin: 0">&#160;</P>

<P STYLE="font: 4pt Times New Roman, Times, Serif; margin: 0">&#160;</P>

<P STYLE="font: 4pt Times New Roman, Times, Serif; margin: 0">&#160;</P>

<P STYLE="font: 4pt Times New Roman, Times, Serif; margin: 0">&#160;<B>&#160;</B></P>

<P ID="xdx_805_eus-gaap--OrganizationConsolidationBasisOfPresentationBusinessDescriptionAndAccountingPoliciesTextBlock_zaLgYbnfPfol" STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify"><B>NOTE 1 &#8211;<FONT ID="xdx_827_zuPLFqosd7Ui"> NATURE OF OPERATIONS AND SUMMARY
OF SIGNIFICANT ACCOUNTING POLICIES</FONT></B></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0">&#160;</P>

<P ID="xdx_848_ecustom--NatureOfOperationsPolicyTextBlock_zrevYfcDwCdc" STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0"><B><FONT STYLE="text-decoration: underline"><FONT ID="xdx_861_zgrCyYl1fBY1">Nature of Operations</FONT></FONT></B></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0">&#160;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify">Duos Technologies Group, Inc., through its operating
subsidiaries, Duos Technologies, Inc., Duos Edge AI, Inc., and Duos Energy Corporation, (collectively the &#8220;Company&#8221;), specializes in machine vision and artificial intelligence to analyze fast moving objects such as trains, trucks, automobiles,
and aircraft. This technology can help improve safety, maintenance, and operating metrics.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify">&#160;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify">The Company is the inventor of the Railcar Inspection
Portal (&#8220;RIP&#8221;) and is currently the rail industry leader for machine vision/camera wayside detection systems that include
the use of Artificial Intelligence at speeds up to 125 mph. The RIP inspects a train at full speed from the top, sides, and bottom looking
at Federal Railroad Administration/Association of American Railroads mandated safety inspection points. The system also detects illegal
riders, which can assist law enforcement agencies. Each railcar is scanned with machine vision cameras and other sensors from the top,
sides, and bottom, where images are produced within seconds of the railcar passing. These images can then be used by the customer to help
prevent derailments, improve maintenance operations, and assist with security. The Company self-performs all aspects of hardware, software,
Information Technology (&#8220;IT&#8221;), and Artificial Intelligence development and engineering. The Company maintains significant
intellectual property and continues to be awarded additional patents for both the technology and methodologies used. The Company also
has a proprietary portfolio of approximately 53 Artificial Intelligence &#8220;Use Cases&#8221; that automatically flag defects. The Company
has deployed this system with several Class 1 railroads and one major passenger carrier and anticipates an increased demand in the future
from railcar operators, owners, shippers, transit railroads as well as law enforcement agencies.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify">&#160;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify">In 2024, the Company&#8217;s management team determined
that it would be in the best interests of the Company and its shareholders to leverage the skills and expertise that have been built up
since 2021 to expand into other markets. Duos will continue to develop industry solutions for its target markets addressing rail, trucking,
aviation and other vehicle-based processes. In addition, the Company elected to develop new offerings based on its existing technology
and formed a new subsidiary in July 2024 called Duos Edge AI (&#8220;Edge&#8221;). The objective of this new subsidiary is to market a
special part of the RIP for the provision of high-speed and function processing of data and applications with a focus on reducing latency
in response times to end-users. Duos has many years of experience via its expert staff in bringing these types of capabilities to remote
locations, also known as &#8220;the edge&#8221;. Edge processing can be an extremely efficient and lower cost alternative to traditional
data centers. The strategy for Edge is to serve rural communities, also known as Tier 3 and 4 markets, and install Edge data centers in
these locations thereby providing access to high-speed communications and advanced processing capabilities as a substitute for solutions
where large amounts of data are &#8220;backhauled&#8221; using &#8220;the Cloud&#8221;. Duos developed these capabilities as an adjunct
to its RIP offerings due to the need for fast results (less than 60 seconds) in identifying defects and maintenance issues on moving railcars.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify">&#160;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify">Also in late 2024, the Company formed a third subsidiary,
Duos Energy Corporation (&#8220;Duos Energy&#8221;) with the express purpose of providing consulting services and solutions for the rapidly
growing demand for electrical power outside of traditional utilities. As an outgrowth of its new Edge Data Center subsidiary, and the
current expert staff on hand, the Company has engaged with multiple third parties to act in a consulting and ultimately asset management
capacity whereby Duos staff will be engaged directly to supply this type of power solutions for multiple uses including for large data
centers supporting AI &#8220;hyperscalers&#8221;. In conjunction with this, in late 2024, Duos engaged with Fortress Investment Group
(&#8220;FIG&#8221;) to assist in FIG&#8217;s purchase of approximately 850 Mega Watts of electrical generation capacity (consisting of
30 mobile gas turbine generators) and associated equipment to support their installation and operation (&#8220;balance-of-plant&#8221;).
In late November 2024, Sawgrass Buyer LLC, an entity formed and owned by FIG, executed an asset purchase agreement with Atlas Corporation,
APR Energy Holdings Limited and a number of its wholly-owned affiliates (collectively, &#8220;APR&#8221;). Chuck Ferry, our CEO, was formerly
the CEO of APR from 2018 to 2020. The transaction closed on December 31, 2024. At closing, Sawgrass Buyer LLC entered into an Asset Management
Agreement (&#8220;AMA&#8221;) with the Company under which a substantial portion of Company staff, including certain members of the management
team (including Mr. Ferry), would oversee operations of Sawgrass Buyer LLC. The AMA has a two-year term with customary cancellation provisions.
At Closing, the Company also received a 5%, non-voting ownership interest in Sawgrass APR Holdings, LLC (&#8220;Sawgrass Parent&#8221;),
the ultimate parent company of Sawgrass Buyer LLC. Subsequent to closing, Sawgrass Buyer LLC changed its name to New APR Energy, LLC (&#8220;New
APR&#8221;).</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify">&#160;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify"></P>

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<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify">On December 31, 2024 the Company entered into an AMA agreement with
New APR, an entity formed by the affiliates of FIG. Under the AMA, Duos Energy will manage the deployment
and operations for a fleet of mobile gas turbines and &#8220;balance-of-plant&#8221; inventory, providing management, sales and operations
functions to New APR in connection with the assets. In exchange for services to be performed under the AMA, the Company received an initial
cash payment from New APR and common units in Sawgrass Parent. While the Company has board representation in Sawgrass Parent, its common
units are non-voting and the Company does not control the board of directors of Sawgrass Parent. Where the Company has an interest in
a Variable Interest Entity (&#8220;VIE&#8221;), it will consolidate any VIE in which the Company has a controlling financial interest
and is deemed to be the primary beneficiary. A controlling financial interest has both of the following characteristics: (1) the power
to direct the activities of the VIE that most significantly impact its economic performance; and (2) the obligation to absorb losses of
the VIE that could potentially be significant to the VIE or the right to receive benefits from the VIE that could be significant to the
VIE. If both of the characteristics are met, the Company is considered to be the primary beneficiary and therefore will consolidate that
VIE into our consolidated financial statements</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify">&#160;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify">Investments in partnerships, unincorporated joint
ventures and LLCs that maintain specific ownership accounts for each investor are excluded from the scope of ASC 323-10. However, ASC
323-30 provides guidance on applying the criteria for equity method accounting to investments in partnerships, unincorporated joint ventures
and LLCs. When an investor in a partnership, unincorporated joint venture or LLC has the ability to exercise significant influence over
that investment, it should apply the equity method (ASC 323-10) by analogy (ASC 323-30-25-1).</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify">&#160;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify">Sawgrass Parent is deemed to be a VIE and the Company
holds a 5% interest in  Sawgrass Parent and an interest in the subsidiary New APR through the AMA, both of which are considered variable
interests. However, the Company does not represent the primary beneficiary as it does not possess the ability to direct the activities
that most significantly impact the economic performance of Sawgrass Parent. Accordingly, the Company does not consolidate Sawgrass Parent.
Due to the Company&#8217;s interest in Sawgrass Parent, it was determined that the Company has significant influence over Sawgrass Parent.
Therefore, the Company accounts for its investment in Sawgrass Parent as an Equity Method Investment.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify">&#160;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify">The Company also concluded that the arrangement with
Sawgrass Parent is within the scope of ASC 606, Revenue from contracts with customers, and the common units issued to the Company by Sawgrass
Parent represented non-cash consideration. The initial carrying value of the equity method investment as of December 31, 2024, of $<FONT ID="xdx_90D_ecustom--CarryingValueOfCommonUnitsReceived_iI_pn3n3_dm_c20241231__us-gaap--TypeOfArrangementAxis__custom--AssetManagementAgreementMember_zhcmUVzHnPi2" TITLE="Carrying value of common units received">7.2</FONT>
million was measured equal to the fair value of the common units received for future services to be performed under the AMA. The Company
recorded $<FONT ID="xdx_90D_eus-gaap--DeferredRevenue_iI_pn3n3_dm_c20241231__us-gaap--TypeOfArrangementAxis__custom--AssetManagementAgreementMember_z3ROJTqqlcG1" TITLE="Deferred revenue">7.2</FONT> million of deferred revenue for services to be performed under the AMA. During the year ended December 31, 2024, the Company
did not recognize any revenue associated with the AMA. Revenue recognition started on January 1, 2025.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify">&#160;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify">The Company  recorded the equity method
investment in Sawgrass Parent of $<FONT ID="xdx_90E_eus-gaap--EquityMethodInvestments_iI_pn3n3_dm_c20241231__srt--CounterpartyNameAxis__custom--SawgrassParentMember_zCa10zY0vNLl" TITLE="Equity method investment">7.2</FONT> million, equal to the fair value of the common units as of December 31, 2024.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify">&#160;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify">Under the terms of the AMA, Duos staff is conducting all conduct
all operations for commercial engagement, planning and project management, installation and operations of the New APR assets. The new
entity will share certain management functions with Duos including the CEO, COO, Chief Commercial Officer and General Counsel and other
services will be provided by Duos in a combination of direct staffing with specific experience in the power generation industry and other
functions as necessary via a &#8220;shared services&#8221; agreement. New APR will have its own President and Chief Financial Officer
and while in the early stages, certain accounting staff will be supplied via the shared services arrangement, it is expected that New
APR will develop its own accounting and administrative functions. It is expected that there will be a strong correlation between the two
companies, particularly in the areas of Data Center power generation and business development and Duos is expected to participate in these
opportunities in addition to the anticipated revenues from the AMA.&#160;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify">&#160;&#160;&#160;</P>

<P STYLE="font: 10pt/115% Times New Roman, Times, Serif; margin: 0 0 8pt">As a result of the relationships described above between
Duos Energy Corporation and the FIG related entities, Sawgrass APR Holdings LLC (&#34;Sawgrass Parent&#34;) and New APR Energy, LLC
(&#34;New APR&#34;) are considered related parties to the Company. (See Notes 3, 5, 6 and 10 for related party balances).</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify">&#160;</P>

<P ID="xdx_843_eus-gaap--BasisOfAccountingPolicyPolicyTextBlock_zFeyrqyAdPTd" STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify"><B><FONT STYLE="text-decoration: underline"><FONT ID="xdx_86D_z8KpAGpgvual">Basis of Presentation</FONT></FONT></B></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify; text-indent: 0.5in"><B>&#160;</B></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify">The accompanying unaudited consolidated financial
statements have been prepared in accordance with U.S. generally accepted accounting principles (&#8220;GAAP&#8221;) for interim financial
information and with the instructions to Form 10-Q and Article 8 of Regulation S-X. Accordingly, they do not include all of the information
and footnotes required by U.S. GAAP for complete financial statements. In the opinion of management, all adjustments (all of which are
of a normal recurring nature) considered necessary for a fair presentation have been included. Operating results for the three months
ended March 31, 2025 are not necessarily indicative of the results that may be expected for the year ending December 31, 2025 or for any
other future period. These unaudited consolidated financial statements and the unaudited condensed notes thereto should be read in conjunction
with the audited consolidated financial statements and notes thereto included in the Company&#8217;s Annual Report on Form 10-K for the
year ended December 31, 2024 filed with the Securities and Exchange Commission (the &#8220;SEC&#8221;) on March 31, 2025.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0">&#160;</P>

<P ID="xdx_840_eus-gaap--ConsolidationPolicyTextBlock_zCvjdwCFGyU" STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0"><B><FONT STYLE="text-decoration: underline"><FONT ID="xdx_86F_zxcYxg3Kjdb5">Principles of Consolidation</FONT></FONT></B></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0">&#160;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0">The unaudited consolidated financial statements include Duos Technologies
Group, Inc. and its wholly owned subsidiaries, Duos Technologies, Inc., Duos Edge AI, Inc. and Duos Energy Corporation. All inter-company
transactions and balances are eliminated in consolidation.</P>

<P ID="xdx_23F_zLMHSx6b8ml2" STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0"><B>&#160;</B></P>

<P ID="xdx_231_zYq3Tmue6rn6" STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0"><B></B></P>

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    <!-- Field: /Page -->

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0"><B>&#160;</B></P>

<P ID="xdx_84D_eus-gaap--UseOfEstimates_zj6ZiExjAIf7" STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0"><B><FONT STYLE="text-decoration: underline"><FONT ID="xdx_86A_zssEns5b09Ya">Use of Estimates</FONT></FONT></B></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0">&#160;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify">The preparation of financial statements in conformity
with accounting principles generally accepted in the United States of America requires management to make estimates and assumptions that
affect the reported amounts of assets and liabilities and disclosures of contingent assets and liabilities at the date of the consolidated
financial statements and the reported amounts of revenues and expenses during the reporting period. Actual results may differ from these
estimates. The most significant estimates in the accompanying unaudited consolidated financial statements include the initial valuation
of a non-monetary transaction with a customer, valuation of intangible assets for impairment analysis, allowance on accounts receivable
and notes receivable, valuation of common stock warrants received in exchange for an asset sale, valuation of deferred tax assets, valuation
of other long-lived assets, estimates of net contract revenues and the total estimated costs to determine progress towards contract completion,
valuation of inventory, estimates of the valuation of right of use assets and corresponding lease liabilities, valuation of warrants issued
with debt, valuation of warrant liabilities, valuation of stock-based awards and the valuation of a minority interest in Sawgrass Parent.
We base our estimates on historical experience and on various other assumptions that we believe are reasonable under the circumstances,
the results of which form the basis for making judgments about the carrying values of assets and liabilities that are not readily apparent
from other sources. Actual results may differ from these estimates.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify">&#160;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify">Due to the unavailability of Q1-2025 financials from
Sawgrass Parent, our equity method investee, the Company has applied a one-quarter lag (in accordance with ASC 323-10-35-6) in reporting
and recording the value of its 5% minority investment. The Company has determined that its 5% interest shall be recorded using the Equity
Method in accordance with the terms of the Amended and Restated Limited Liability Company Agreement of Sawgrass APR Holding LLC (the &#8220;Agreement&#8221;)
whereby Net Profit and Net Loss for any Fiscal Year shall be allocated among the members in such a manner that, as of the end of such
fiscal year, the Capital Account Balance of each Member, as increased by the Member&#8217;s share of &#8220;minimum gain&#8221; and &#8220;partner
minimum gain&#8221; (as such terms are used in Treasury Regulations Section 1.704-2), shall, to the extent possible, be equal to the amount
which would have been distributed to such Member pursuant to a Hypothetical Liquidation, as defined in the Agreement, as of the end of
the last day of such fiscal year. This approach is consistent with the equity method of accounting as outlined in ASC 323-10-35-6, which
will be consistent for each quarter. Consequently, Duos will incorporate the financial results of the Sawgrass Parent into its Q2-2025
10-Q filing which will be applied using a management estimate, ensuring that the equity method is consistently applied.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify">&#160;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify">Management believes that the use of estimates and
assumptions in applying the equity method is reasonable.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify">&#160;</P>

<P ID="xdx_84E_eus-gaap--PriorPeriodReclassificationAdjustmentDescription_zvjtKCQkt8Qj" STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify"><B><FONT STYLE="text-decoration: underline"><FONT ID="xdx_862_z8cN8veo0rC3">Reclassification</FONT></FONT></B></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify">&#160;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify">Certain amounts in the prior period have been reclassified
to conform to current period presentation. Balances in accounts receivable and deferred revenues were reclassified to related party accounts
receivable and related party deferred revenues respectively. There was no net effect of this reclassification on the consolidated balance
sheets.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0"><B></B></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0"><B>&#160;&#160;</B></P>

<P ID="xdx_845_eus-gaap--ConcentrationRiskCreditRisk_zrQEMpmi8dba" STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0"><B><FONT STYLE="text-decoration: underline"><FONT ID="xdx_869_zly0oQtPYOj8">Concentrations</FONT> </FONT></B></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0">&#160;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0"><B>Cash Concentrations</B></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0">&#160;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify">Cash is maintained at financial institutions and at
times, balances may exceed federally insured limits. We have not experienced any losses related to these balances. As of March 31, 2025,
the balance in one financial institution exceeded federally insured limits by approximately $<FONT ID="xdx_90A_eus-gaap--CashUninsuredAmount_iI_pp0p0_c20250331_zjsXPCsGf144" TITLE="Federally insured limits">2,980,899</FONT>. Any loss incurred or a lack of
access to such funds could have a significant adverse impact on the Company&#8217;s consolidated financial condition, results of operation
and cash flows.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify">&#160;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0"><B>Significant Customers and Concentration of Credit Risk</B></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0">&#160;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify; background-color: white">The Company had certain customers
whose revenue individually represented 10% or more of the Company&#8217;s total revenue, or whose accounts receivable balances individually
represented 10% or more of the Company&#8217;s total accounts receivable, as follows:</P>

<P STYLE="font: 8pt Arial, Helvetica, Sans-Serif; margin: 0; text-align: justify">&#160;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify">For the three months ended March 31, 2025, three
customers accounted for <FONT ID="xdx_90C_ecustom--ConcentrationRiskThresholdPercentage_c20250101__20250331__srt--MajorCustomersAxis__custom--Customer1Member__us-gaap--ConcentrationRiskByBenchmarkAxis__us-gaap--SalesRevenueNetMember__us-gaap--ConcentrationRiskByTypeAxis__us-gaap--CustomerConcentrationRiskMember_zfym99kQluxg">60%</FONT>
(related party), <FONT ID="xdx_90B_ecustom--ConcentrationRiskThresholdPercentage_c20250101__20250331__srt--MajorCustomersAxis__custom--Customer3Member__us-gaap--ConcentrationRiskByBenchmarkAxis__us-gaap--SalesRevenueNetMember__us-gaap--ConcentrationRiskByTypeAxis__us-gaap--CustomerConcentrationRiskMember_z5sT6jIs1icg" TITLE="Concentration risk, percentage">18%</FONT>
(related party)  and <FONT ID="xdx_90F_ecustom--ConcentrationRiskThresholdPercentage_c20250101__20250331__srt--MajorCustomersAxis__custom--Customer4Member__us-gaap--ConcentrationRiskByBenchmarkAxis__us-gaap--SalesRevenueNetMember__us-gaap--ConcentrationRiskByTypeAxis__us-gaap--CustomerConcentrationRiskMember_zYrRLRtti3O1">11%</FONT>
of revenues. For the three months ended March 31, 2024, three customers accounted for <FONT ID="xdx_90F_ecustom--ConcentrationRiskThresholdPercentage_c20240101__20240331__srt--MajorCustomersAxis__custom--Customer1Member__us-gaap--ConcentrationRiskByBenchmarkAxis__us-gaap--SalesRevenueNetMember__us-gaap--ConcentrationRiskByTypeAxis__us-gaap--CustomerConcentrationRiskMember_zLmXEohZJQYc">31%</FONT>, <FONT ID="xdx_90D_ecustom--ConcentrationRiskThresholdPercentage_c20240101__20240331__srt--MajorCustomersAxis__custom--Customer2Member__us-gaap--ConcentrationRiskByBenchmarkAxis__us-gaap--SalesRevenueNetMember__us-gaap--ConcentrationRiskByTypeAxis__us-gaap--CustomerConcentrationRiskMember_zWlLV3Uq7Inh">30%</FONT>
and <FONT ID="xdx_90A_ecustom--ConcentrationRiskThresholdPercentage_c20240101__20240331__srt--MajorCustomersAxis__custom--Customer3Member__us-gaap--ConcentrationRiskByBenchmarkAxis__us-gaap--SalesRevenueNetMember__us-gaap--ConcentrationRiskByTypeAxis__us-gaap--CustomerConcentrationRiskMember_zLq1tZbVMCs5">26%</FONT>
of revenues. In most cases, there are no minimum contract values stated. Each contract covers an agreement to deliver a Railcar
Inspection Portal which, once accepted, must be paid in full, with 30% or more being due and payable prior to delivery. The balances
of the contracts are for service and maintenance, which may be paid annually in advance with revenues recorded ratably over the
contract period.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify">&#160;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify">At March 31, 2025, one customer, who is also a related
party, accounted for <FONT ID="xdx_902_ecustom--ConcentrationRiskThresholdPercentage_c20250101__20250331__srt--MajorCustomersAxis__custom--Customer1Member__us-gaap--ConcentrationRiskByBenchmarkAxis__us-gaap--AccountsReceivableMember__us-gaap--ConcentrationRiskByTypeAxis__us-gaap--CustomerConcentrationRiskMember_zLcIPJedRSif" TITLE="Concentration risk, percentage">89%</FONT> of accounts receivable. At December 31, 2024, three customers accounted for <FONT ID="xdx_907_ecustom--ConcentrationRiskThresholdPercentage_c20240101__20241231__srt--MajorCustomersAxis__custom--Customer1Member__us-gaap--ConcentrationRiskByBenchmarkAxis__us-gaap--AccountsReceivableMember__us-gaap--ConcentrationRiskByTypeAxis__us-gaap--CustomerConcentrationRiskMember_zmbisrGIZdu9" TITLE="Concentration risk, percentage">73%</FONT>, <FONT ID="xdx_903_ecustom--ConcentrationRiskThresholdPercentage_c20240101__20241231__srt--MajorCustomersAxis__custom--Customer2Member__us-gaap--ConcentrationRiskByBenchmarkAxis__us-gaap--AccountsReceivableMember__us-gaap--ConcentrationRiskByTypeAxis__us-gaap--CustomerConcentrationRiskMember_zq1FAJfzcJE9" TITLE="Concentration risk, percentage">17%</FONT>, and <FONT ID="xdx_90D_ecustom--ConcentrationRiskThresholdPercentage_c20240101__20241231__srt--MajorCustomersAxis__custom--Customer3Member__us-gaap--ConcentrationRiskByBenchmarkAxis__us-gaap--AccountsReceivableMember__us-gaap--ConcentrationRiskByTypeAxis__us-gaap--CustomerConcentrationRiskMember_zgVkKBOv97Fi" TITLE="Concentration risk, percentage">10%</FONT> of accounts receivable.
Much of the credit risk is mitigated due to the historical timely payments of our customers.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify">&#160;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify"><B>Geographic Concentration</B></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify"><B>&#160;</B></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify">For the three months ended March 31, 2025, approximately
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<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify">&#160;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify"><B>Significant Vendors and Concentration of Credit
Risk</B></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify"><B>&#160;</B></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify">In some instances, the Company relies on a limited
pool of vendors for key components related to the manufacturing of its subsystems. These vendors are primarily focused on camera, server,
and lighting technologies integral to the Company&#8217;s solution. Where possible, the Company seeks multiple vendors for key components
to mitigate vendor concentration risk.</P>

<P ID="xdx_232_ztY8AuVqLJJ4" STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify">&#160;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify"></P>

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<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify">&#160;</P>

<P ID="xdx_846_eus-gaap--FairValueMeasurementPolicyPolicyTextBlock_zjMMcP4VCgrg" STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0"><B><FONT STYLE="text-decoration: underline"><FONT ID="xdx_86B_zgwuEbdtxkqe">Fair Value of Financial Instruments and Fair Value Measurements</FONT></FONT></B></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0">&#160;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify">The Company follows Accounting Standards Codification
(&#8220;ASC&#8221;) 820, &#8220;Fair Value Measurements and Disclosures&#8221; (&#8220;ASC 820&#8221;), for assets and liabilities measured
at fair value on a recurring basis. ASC 820 establishes a common definition for fair value to be applied to existing generally accepted
accounting principles that require the use of fair value measurements, establishes a framework for measuring fair value and expands disclosure
about such fair value measurements.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify">&#160;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify">ASC&#160;820 defines fair value as the price that
would be received to sell an asset or paid to transfer a liability in an orderly transaction between market participants at the measurement
date. Additionally, ASC&#160;820 requires the use of valuation techniques that maximize the use of observable inputs and minimize the
use of unobservable inputs.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0">&#160;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0">These inputs are prioritized below:&#160;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0">&#160;</P>

<TABLE CELLSPACING="0" CELLPADDING="0" STYLE="font: 11pt Arial, Helvetica, Sans-Serif; width: 100%; border-collapse: collapse">
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<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify">&#160;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify">The Company analyzes all financial instruments with
features of both liabilities and equity under the Financial Accounting Standard Board&#8217;s (&#8220;FASB&#8221;) accounting standard
for such instruments. Under this standard, financial assets and liabilities are classified in their entirety based on the lowest level
of input that is significant to the fair value measurement.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify">&#160;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify">The estimated fair value of certain financial instruments,
including accounts receivable, prepaid expenses, accounts payable, accrued expenses and notes payable are carried at historical cost basis,
which approximates their fair values because of the short-term nature of these instruments.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify">&#160;</P>

<P ID="xdx_84B_eus-gaap--TradeAndOtherAccountsReceivablePolicy_zmFVfMabOBOa" STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify"><B><FONT STYLE="text-decoration: underline"><FONT ID="xdx_865_zkaC8wtYNkEc">Accounts Receivable</FONT></FONT></B></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify">&#160;&#160;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify">On January 1, 2023, the Company adopted ASC 326, &#8220;Financial
Instruments - Credit Losses&#8221;. In accordance with ASC 326, an allowance is maintained for estimated forward-looking losses resulting
from the possible inability of customers to make the required payments (current expected losses). The amount of the allowance is determined
principally on the basis of past collection experience and known financial factors regarding specific customers.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify">&#160;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify">Accounts receivable are stated at estimated net realizable
value. Accounts receivable are comprised of balances due from customers net of estimated allowances for credit losses. In determining
the collections on the account, historical trends are evaluated, and specific customer issues are reviewed to arrive at appropriate allowances.
The Company reviews its accounts to estimate losses resulting from the inability of its customers to make required payments. Any required
allowance is based on specific analysis of past due accounts and also considers historical trends of write-offs. Past due status is based
on how recently payments have been received from customers.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify">&#160;</P>

<P ID="xdx_843_eus-gaap--InventoryPolicyTextBlock_zN9HKZduNLNg" STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify"><B><FONT STYLE="text-decoration: underline"><FONT ID="xdx_86D_zewlNZeOHfcf">Inventory</FONT></FONT></B></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify"><B>&#160;</B></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify">Inventory consists primarily of spare parts and consumables
and long-lead time components to be used in the production of our technology systems or in connection with maintenance agreements with
customers. Any inventory deemed to be obsolete is written off. Inventory is stated at the lower of cost or net realizable value. Inventory
cost is primarily determined using the weighted average cost method.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify">&#160;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify">The Company classifies inventory as a current asset
when it is expected to be sold or utilized in production within the normal operating cycle, typically twenty-four months. Inventory that
is determined to be slow-moving or not expected to be sold or utilized within the next twenty-four months is reclassified to non-current
assets under Non-current Inventory.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify">&#160;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify">The assessment of slow-moving inventory is based on
historical sales trends, demand forecasts, and management&#8217;s judgment regarding market conditions. Once reclassified, the inventory
is reviewed annually for impairment, and any necessary write-downs are recognized in the consolidated statement of operations.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify">&#160;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify">During the three months ended March 31, 2025, the
Company recognized inventory shrinkage in the amount of $<FONT ID="xdx_902_ecustom--InventoryWriteoff_pp0p0_c20250101__20250331_zwajnyjxMIKc" TITLE="Inventory write-off">25,000</FONT>. The shrinkage was recorded as a reduction to the carrying value of inventory
and recorded to cost of revenues as an expense in the period. The Company continuously evaluates the recoverability of its inventory.
There were no material impacts on the Company's financial position as a result of the shrinkage.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify"></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify">&#160;</P>

<P STYLE="font: 4pt Times New Roman, Times, Serif; margin: 0; text-align: justify">&#160;</P>

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<P STYLE="font: 4pt Times New Roman, Times, Serif; margin: 0; text-align: justify"></P>

<P ID="xdx_841_eus-gaap--IntangibleAssetsFiniteLivedPolicy_zP1kJMzpcP1d" STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify"><B><FONT STYLE="text-decoration: underline"><FONT ID="xdx_86E_zQOeJK3ynlK5">Intangible Asset</FONT></FONT></B></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify">&#160;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify">In May 2024, the Company recognized an intangible
asset which represents digital image data rights received under a license agreement as non-monetary consideration under a five-year customer
contract. The intangible asset will be amortized over the five-year contractual term.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify"><B>&#160;</B></P>

<P ID="xdx_84A_eus-gaap--PropertyPlantAndEquipmentPolicyTextBlock_z65b9kE279V5" STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify"><B><FONT STYLE="text-decoration: underline"><FONT ID="xdx_86D_z8OPoBEd4HW">Property and Equipment</FONT> </FONT></B></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify"><B>&#160;</B></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify">Property and equipment are stated at cost, less accumulated
depreciation. Depreciation is provided by the straight-line method over the estimated economic life of the property and equipment (three
to five years). When assets are sold or retired, their costs and accumulated depreciation are eliminated from the accounts and any gain
or loss resulting from their disposal is included in the statement of operations. Leasehold improvements are expensed over the shorter
of the term of the lease or the useful life.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify"><B>&#160;</B></P>

<P ID="xdx_846_eus-gaap--ResearchDevelopmentAndComputerSoftwarePolicyTextBlock_zzKMVstuGxd9" STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify"><B><FONT STYLE="text-decoration: underline"><FONT ID="xdx_862_z4nKHNsSecLa">Software Development Costs</FONT></FONT></B></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify">&#160;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify">Software development costs incurred prior to establishing
technological feasibility are charged to operations and included in research and development costs. The technological feasibility of a
software product is established when the Company has completed all planning, designing, coding, and testing activities that are necessary
to establish that the product meets its design specifications, including functionality, features, and technical performance requirements.
Software development costs incurred after establishing technological feasibility for software sold as a perpetual license, as defined
within ASC 985-20 (Software &#8211; Costs of Software to be Sold, Leased, or Marketed) are capitalized and amortized on a product-by-product
basis when the product is available for general release to customers. Software development costs are evaluated for impairment annually
by comparing the net realizable value to the unamortized capitalization costs and writing these costs down to net realizable value.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify">&#160;</P>

<P ID="xdx_84A_ecustom--PatentsAndTrademarksPolicyTextBlock_zTEXcuSofQY2" STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify"><B><FONT STYLE="text-decoration: underline"><FONT ID="xdx_86B_zPn3ToWRFEFf">Patents and Trademarks</FONT></FONT></B></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify">&#160;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify">Patents and trademarks which are stated at amortized
cost relate to the development of video surveillance security system technology and are being amortized over <FONT ID="xdx_90A_eus-gaap--FiniteLivedIntangibleAssetUsefulLife_iI_dtY_c20250331__us-gaap--FiniteLivedIntangibleAssetsByMajorClassAxis__us-gaap--PatentsMember_zbUJIeZ3xaj2" TITLE="Estimated useful life of intangible assets">17</FONT> years.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify">&#160;</P>

<P ID="xdx_840_ecustom--LonglivedAssetsTextBlock_zJXEYtCtgcUi" STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify"><B><FONT STYLE="text-decoration: underline"><FONT ID="xdx_866_z2FZDI2BywYk">Long-Lived Assets</FONT></FONT></B></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify">&#160;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify">The Company evaluates the recoverability of its property,
equipment, and other long-lived assets, including finite-lived intangible assets, in accordance with FASB ASC 360-10-35-15 &#8220;Impairment
or Disposal of Long-Lived Assets&#8221;, which requires recognition of impairment of long-lived assets in the event there are indicators
of impairment and the net book values of such assets exceed the estimated future undiscounted cash flows attributable to such assets or
the business to which such intangible assets relate. This guidance requires that long-lived assets and certain identifiable intangibles
be reviewed for impairment whenever events or changes in circumstances indicate that the carrying amount of an asset may not be recoverable.
Recoverability of assets to be held and used is measured by a comparison of the carrying amount of an asset to future undiscounted net
cash flows expected to be generated by the asset. If such assets are considered to be impaired, the impairment to be recognized is measured
by the amount by which the carrying amount of the assets exceeds the fair value of the assets. Assets to be disposed of are reported at
the lower of the carrying amount or fair value less costs to sell.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify">&#160;</P>

<P ID="xdx_84E_eus-gaap--EquityMethodInvestmentsPolicy_zjY2b3ao78tc" STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify"><B><FONT STYLE="text-decoration: underline"><FONT ID="xdx_868_zsm0dpGPDdrk">Equity Method Investments</FONT></FONT></B></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify">&#160;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify">If an investment qualifies for the equity method of
accounting, the Company&#8217;s investment is recorded initially at cost and subsequently adjusted for equity in net income (loss) and
cash contributions and distributions. The net income or loss of an unconsolidated equity method investment is allocated to its investors
in accordance with the provisions of the operating agreement of the entity. The allocation provisions in these agreements may differ from
the ownership interest held by each investor. Differences, if any, between the carrying amount of our investment in the respective equity
method investee and the Company&#8217;s share of the underlying equity of such equity method investee are amortized over the respective
lives of the underlying assets as applicable. These items are reported as a single line item in the consolidated statements of operations
as income or loss from investments in unconsolidated equity method investments. Investments are reviewed for changes in circumstance or
the occurrence of events that suggest an other-than-temporary event where our investment may not be recoverable.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify">&#160;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify">On December 31, 2024, the Company entered into an
Asset Management Agreement (the &#8220;AMA&#8221;), with New APR, an entity formed by affiliates of FIG. Under the AMA, Duos Energy will
manage the deployment and operations of a fleet of mobile gas turbines and balance-of-plant inventory, providing management, sales and
operations functions to New APR in connection with the assets. In exchange for services to be performed under the AMA, the Company received
an initial cash payment and common units in Sawgrass Parent. While the Company has board representation in Sawgrass Parent, its common
units are non-voting and the Company does not control the board of directors of Sawgrass Parent.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify">&#160;</P>

<P ID="xdx_235_zgshSgRJDHi5" STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify">&#160;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify"></P>

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<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify">Where the Company has an interest in a Variable Interest
Entities (&#8220;VIE&#8221;) it will consolidate any VIE in which the Company has a controlling financial interest and deemed to be the
primary beneficiary. A controlling financial interest has both of the following characteristics: (1) the power to direct the activities
of the VIE that most significantly impact its economic performance; and (2) the obligation to absorb losses of the VIE that could potentially
be significant to the VIE or the right to receive benefits from the VIE that could be significant to the VIE. If both of the characteristics
are met, the Company is considered to be the primary beneficiary and therefore will consolidate that VIE into the consolidated financial
statements.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify">&#160;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify">Investments in partnerships, unincorporated joint
ventures and LLCs that maintain specific ownership accounts for each investor are excluded from the scope of ASC 323-10. However, ASC
323-30 provides guidance on applying the criteria for equity method accounting to investments in partnerships, unincorporated joint ventures
and LLCs. When an investor in a partnership, unincorporated joint venture or LLC has the ability to exercise significant influence over
that investment, it should apply the equity method (ASC 323-10) by analogy (ASC 323-30-25-1).</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify">&#160;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify">Sawgrass Parent is deemed to be a VIE and the Company
holds a 5% interest in the Parent and an interest in the subsidiary New APR through the AMA, both of which are considered variable interests.
However, the Company does not represent the primary beneficiary as it does not possess the ability to direct the activities that most
significantly impact the economic performance of Sawgrass Parent. Accordingly, the Company does not consolidate Sawgrass Parent. Due to
the Company&#8217;s interest in Sawgrass Parent, it was determined that the Company has significant influence over Sawgrass Parent. Therefore,
the Company accounts for its investment in Sawgrass Parent as an Equity Method Investment.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify">&#160;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify">The Company also concluded that the arrangement with
Sawgrass Parent is within the scope of ASC 606, Revenue from contracts with customers, and the common units issued to the Company by Sawgrass
Parent represented non-cash consideration. The initial carrying value of the equity method investment as of December 31, 2024 of $7.2
million was measured equal to the fair value of the common units received for future services to be performed under the AMA. The Company
recorded $7.2 million of deferred revenue for services to be performed under the AMA. During the year ended December 31, 2024, the Company
did not recognize any revenue associated with the AMA. The Company will initially record the equity method investment in Sawgrass Parent
of $7.2 million, equal to the fair value of the common units as of December 31, 2024. Revenue recognition started January 1, 2025.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify">&#160;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify">The Company assesses its equity method investment
for impairment whenever events or changes in circumstances indicate that the carrying amount of the investment may not be recoverable.
No impairment losses were recognized during the three months ended March 31, 2025.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify"><B>&#160;</B></P>

<P ID="xdx_846_eus-gaap--GuaranteesIndemnificationsAndWarrantiesPolicies_zbVG5ASf5ynk" STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify"><B><FONT STYLE="text-decoration: underline"><FONT ID="xdx_86C_zrNiJ2SHqwth">Product Warranties</FONT> </FONT></B></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify">&#160;</P>

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fails or is unable to correct any deviations, a full refund of all payments made by the customer will be arranged by the Company. As of
March 31, 2025 and December 31, 2024, the warranty costs have been de-minimis, therefore no accrual of warranty liability has been made.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify"></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify"><B>&#160;</B></P>

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<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify">&#160;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify">Loan costs paid to lenders, or third parties are recorded
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<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify"><B>&#160;</B></P>

<P ID="xdx_84B_ecustom--SalesReturnPolicyTextBlock_zQnRFXYnCFT3" STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify"><B><FONT STYLE="text-decoration: underline"><FONT ID="xdx_86B_zY1J9JaOAEsk">Sales Returns </FONT></FONT></B></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify">&#160;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify">Our systems are sold as integrated systems and there
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<P ID="xdx_230_zhGgSHysVI92" STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify"><B></B></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify">&#160;</P>

<P ID="xdx_237_zGV1naRH3Epa" STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify">&#160;</P>


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<P STYLE="font: 4pt Times New Roman, Times, Serif; margin: 0">&#160;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify"></P>

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<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify">The Company follows Accounting Standards Codification
606, Revenue from Contracts with Customers (&#8220;ASC 606&#8221;), that affects the timing of when certain types of revenues will be
recognized. The basic principles in ASC 606 include the following: a contract with a customer creates distinct contract assets and performance
obligations, satisfaction of a performance obligation creates revenue, and a performance obligation is satisfied upon transfer of control
to a good or service to a customer.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify">&#160;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify">Revenue is recognized by evaluating our revenue contracts
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<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify">&#160;</P>

<TABLE CELLSPACING="0" CELLPADDING="0" STYLE="font: 11pt Arial, Helvetica, Sans-Serif; width: 100%; border-collapse: collapse">
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<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify">&#160;</P>

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<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify">&#160;</P>


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<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify">&#160;</P>

<TABLE CELLSPACING="0" CELLPADDING="0" STYLE="font: 11pt Arial, Helvetica, Sans-Serif; width: 100%; border-collapse: collapse">
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<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify">&#160;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify">The Company generates revenue from four sources:</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify">&#160;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify">(1) Technology Systems</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify">&#160;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify">(2) AI Technologies</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify">&#160;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify">(3) Technical Support including related party
revenues from the AMA agreement which began in January 2025</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify">&#160;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify">(4) Consulting Services including related party
revenues from the AMA agreement which began in January 2025</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify">&#160;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify">Technology Systems</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify">&#160;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify">For revenues related to technology systems, the Company
recognizes revenue over time using a cost-based input methodology in which significant judgment is required to estimate costs to complete
projects. These estimated costs are then used to determine the progress towards contract completion and the corresponding amount of revenue
to recognize.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify">&#160;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify">Accordingly, the Company now bases its revenue recognition
on ASC 606-10-25-27, where control of a good or service transfers over time if the entity&#8217;s performance does not create an asset
with an alternative use to the entity and the entity has an enforceable right to payment for performance completed to date including a
profit margin or reasonable return on capital. Control is deemed to pass to the customer instantaneously as the goods are manufactured
and revenue is recognized accordingly.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify">&#160;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify">In addition, the Company has adopted ASC 606-10-55-21
such that if the cost incurred is not proportionate to the progress in satisfying the performance obligation, we adjust the input method
to recognize revenue only to the extent of the cost incurred. Therefore, the Company will recognize revenue at an equal amount to the
cost of the goods to satisfy the performance obligation. To accurately reflect revenue recognition based on the input method, the Company
has adopted the implementation guidance as set out in ASC-606-10-55-187 through 192.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify">&#160;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify">Under this method, contract revenues are recognized
over the performance period of the contract in direct proportion to the costs incurred. Costs include direct material, direct labor, subcontract
labor and other allocable indirect costs. All un-allocable indirect costs and corporate general and administrative costs are also charged
to the periods as incurred. Any recognized revenues that have not been billed to a customer are recorded as an asset in &#8220;contract
assets&#8221;. Any billings of customers more than recognized revenues are recorded as a liability in &#8220;contract liabilities&#8221;.
However, in the event a loss on a contract is foreseen, the Company will recognize the loss when such loss is determined to be both probable
and reasonably estimable.&#160;</P>

<P ID="xdx_23B_ztPio6pjoCi4" STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify">&#160;</P>

<P ID="xdx_231_zrBxXlfmnXNf" STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify">&#160;</P>


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<P STYLE="font: 4pt Times New Roman, Times, Serif; margin: 0">&#160;</P>

<P STYLE="font: 4pt Times New Roman, Times, Serif; margin: 0">&#160;</P>

<P STYLE="font: 4pt Times New Roman, Times, Serif; margin: 0">&#160;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify">AI Technologies</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify">&#160;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify">The Company has revenue from applications that incorporate
artificial intelligence (AI) in the form of predetermined algorithms which provide important operating information to the users of our
systems. The revenue generated from these applications of AI consists of a fixed fee related to the design, development, testing and incorporation
of new algorithms into the system, which is recognized as revenue at a point in time upon acceptance, as well as an annual application
maintenance fee, which is recognized as revenue ratably over the contracted maintenance term.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify">&#160;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify">Technical Support</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify">&#160;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify">Technical support services are provided on both
an as-needed and extended-term basis and may include providing both parts and labor. Maintenance and technical support provided
outside of a maintenance contract are on an &#8220;as-requested&#8221; basis, and revenue is recognized over time as the services
are provided. Revenue for maintenance and technical support provided on an extended-term basis is recognized over time ratably over
the term of the contract. This includes related party revenues from the AMA agreement, which began on January 1, 2025, related to
the installation and maintenance of certain assets deployed by New APR.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify"><B>&#160;</B></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify">Consulting Services <FONT STYLE="text-decoration: underline"></FONT></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify">&#160;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify">The Company&#8217;s consulting services business
generates revenues under contracts with customers from four sources: (1) Professional Services (consulting and auditing and
including related party revenues from the AMA agreement which began in January 2025); (2) Software licensing with optional hardware
sales; (3) Customer service training and (4) Maintenance/support.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify">&#160;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify">(1) Revenues for professional services, which are
of short-term duration, are recognized when services are completed;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify">&#160;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify">(2) For all periods reflected in this report, software
license sales have been one-time sales of a perpetual license to use our software product and the customer also has the option to purchase
third-party manufactured handheld devices from us if they purchase our software license. Accordingly, the revenue is recognized upon delivery
of the software and delivery of the hardware, as applicable, to the customer;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify">&#160;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify">(3) Training sales are one-time upfront short-term
training sessions and are recognized after the service has been performed; and</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify">&#160;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify">(4) Maintenance/support is an optional product sold
to our software license customers under one-year contracts. Accordingly, maintenance payments received upfront are deferred and recognized
over the contract term.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify">&#160;</P>

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<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify">&#160;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify">Arrangements with customers may involve multiple performance
obligations including project revenue and maintenance services in our Technology Systems business. Maintenance will occur after the project
is completed and may be provided on an extended-term basis or on an as-needed basis. In our consulting services business, multiple performance
obligations may include any of the above four sources. Training and maintenance on software products may occur after the software product
sale while other services may occur before or after the software product sale and may not relate to the software product. Revenue recognition
for a multiple performance obligations arrangement is as follows:</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify">&#160;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify">Each performance obligation is accounted for separately
when each has value to the customer on a standalone basis and there is Company specific objective evidence of the selling price of each
deliverable. For revenue arrangements with multiple deliverables, the Company allocates the total customer arrangement to the separate
units of accounting based on their relative selling prices as determined by the price of the items when sold separately. Once the selling
price is allocated, the revenue for each performance obligation is recognized using the applicable criteria under GAAP as discussed above
for performance obligations sold in single performance obligation arrangements. A delivered item or items that do not qualify as a separate
unit of accounting within the arrangement are combined with the other applicable undelivered items within the arrangement. The allocation
of arrangement consideration and the recognition of revenue is then determined for those combined deliverables as a single unit of accounting.
The Company sells its various services and software and hardware products at established prices on a standalone basis which provides Company
specific objective evidence of selling price for purposes of performance obligations relative selling price allocation. The Company only
sells maintenance services or spare parts based on its established rates after it has completed a system integration project for a customer.
The customer is not required to purchase maintenance services. All elements in multiple performance obligations arrangements with Company
customers qualify as separate units of account for revenue recognition purposes.&#160;</P>

<P ID="xdx_230_zEGsRZqha2y5" STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify">&#160;</P>

<P STYLE="font: 4pt Times New Roman, Times, Serif; margin: 0">&#160;</P>


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<P STYLE="font: 4pt Times New Roman, Times, Serif; margin: 0">&#160;</P>

<P STYLE="font: 4pt Times New Roman, Times, Serif; margin: 0">&#160;</P>

<P ID="xdx_84E_eus-gaap--CostOfSalesPolicyTextBlock_zhEFaQk3NAUl" STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify"><B><FONT STYLE="text-decoration: underline"><FONT ID="xdx_860_zB3rrJKT7472">Cost of Revenues</FONT></FONT></B></P>

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<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify">Cost of revenues primarily includes inventory, shipping,
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<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify"><B>&#160;</B></P>

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<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify"><B>&#160;</B></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify">The Company expenses the cost of advertising. During
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<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify"><B>&#160;</B></P>

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<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify"><B>&#160;</B></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify">The Company accounts for employee and non-employee
stock-based compensation in accordance with ASC 718-10, &#8220;Share-Based Payment,&#8221; which requires the measurement and recognition
of compensation expense for all share-based payment awards made to employees and directors including stock options, restricted stock units,
and employee stock purchases based on estimated fair values. The stock-based compensation carries a graded vesting feature subject to
the condition of time of employment service with awarded stock-based compensation tranches vesting evenly upon the anniversary date of
the award.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify">&#160;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify">The Company estimates the fair value of stock options
granted using the Black-Scholes option-pricing formula. In accordance with ASC 718-10-35-8, the Company elected to recognize the fair
value of the stock award using the graded vesting method as time of employment service is the criteria for vesting. The Company&#8217;s
determination of fair value using an option-pricing model is affected by the stock price as well as assumptions regarding a number of
highly subjective variables.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify">&#160;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify"></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify">For restricted stock awards, fair value is measured at the closing
market price of the Company&#8217;s common stock on the grant date. That value is then recognized over the requisite vesting period.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify">&#160;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify">The Company estimates volatility based upon the historical
stock price of the Company and estimates the expected term for stock options using the simplified method for employees and directors and
the contractual term for non-employees. The risk-free rate is determined based upon the prevailing rate of United States Treasury securities
with similar maturities.&#160;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify"><B>&#160;</B></P>

<P ID="xdx_840_eus-gaap--IncomeTaxPolicyTextBlock_zqE5jaBTWc15" STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify"><B><FONT STYLE="text-decoration: underline"><FONT ID="xdx_86C_zfC8jK5cSWr3">Income Taxes</FONT></FONT></B></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify"><B>&#160;</B></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify">The Company accounts for income taxes in accordance
with the Financial Accounting Standards Board FASB Accounting Standards Codification (&#8220;ASC&#8221;) 740, Income Taxes, which requires
the recognition of deferred income taxes for differences between the basis of assets and liabilities for financial statement and income
tax purposes. The deferred tax assets and liabilities represent the future tax return consequences of those differences, which will either
be taxable or deductible when the assets and liabilities are recovered or settled. Valuation allowances are established when necessary
to reduce deferred tax assets to the amount expected to be realized.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify">&#160;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify">The Company evaluates all significant tax positions
as required by ASC 740. As of March 31, 2025, the Company does not believe that it has taken any positions that would require the recording
of any additional tax liability, nor does it believe that there are any unrealized tax benefits that would either increase or decrease
within the next year.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify">&#160;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify">Any penalties and interest assessed by income taxing
authorities are included in operating expenses.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify">&#160;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify">The federal and state income tax returns of the Company
are subject to examination by the IRS and state taxing authorities, generally for three years after they were filed. Tax years  2022,
2023 and 2024 remain open for potential audit.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify">&#160;</P>

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<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify">&#160;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify">Basic earnings per share (EPS) are computed by dividing
the net loss applicable to common stock by the weighted average number of common shares outstanding. Diluted net loss per common share
is computed by dividing the net loss applicable to common stock by the weighted average number of common shares outstanding for the period
and, if dilutive, potential common shares outstanding during the period. Potential common shares consist of the incremental common shares
issuable upon the exercise or conversion of stock options, stock warrants, convertible debt instruments, convertible preferred stock or
other common stock equivalents. Potentially dilutive securities are excluded from the computation if their effect is anti-dilutive. &#160;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify">&#160;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify">At March 31, 2025, there were (i) an aggregate of
zero outstanding warrants to purchase shares of common stock, (ii) employee stock options to purchase an aggregate of <FONT ID="xdx_907_eus-gaap--AntidilutiveSecuritiesExcludedFromComputationOfEarningsPerShareAmount_c20250101__20250331__us-gaap--AntidilutiveSecuritiesExcludedFromComputationOfEarningsPerShareByAntidilutiveSecuritiesAxis__custom--EmployeeStockOptionsMember_pdd" TITLE="Antidilutive shares">475,368</FONT> shares of
common stock, (iii) <FONT ID="xdx_903_eus-gaap--AntidilutiveSecuritiesExcludedFromComputationOfEarningsPerShareAmount_c20250101__20250331__us-gaap--AntidilutiveSecuritiesExcludedFromComputationOfEarningsPerShareByAntidilutiveSecuritiesAxis__custom--SeriesDConvertiblePreferredStockMember_pdd" TITLE="Antidilutive shares">333,000</FONT> common shares issuable upon conversion of Series D Convertible Preferred Stock, and (iv) <FONT ID="xdx_902_eus-gaap--AntidilutiveSecuritiesExcludedFromComputationOfEarningsPerShareAmount_c20250101__20250331__us-gaap--AntidilutiveSecuritiesExcludedFromComputationOfEarningsPerShareByAntidilutiveSecuritiesAxis__custom--SeriesEConvertiblePreferredStockMember_pdd" TITLE="Antidilutive shares">5,172,416</FONT> common
shares issuable upon conversion of Series E Convertible Preferred Stock, all of which were excluded from the computation of diluted net
earnings per share because their inclusion would have been anti-dilutive.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify">&#160;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify">At March 31, 2024, there were (i) an aggregate of
<FONT ID="xdx_900_eus-gaap--AntidilutiveSecuritiesExcludedFromComputationOfEarningsPerShareAmount_c20240101__20240331__us-gaap--AntidilutiveSecuritiesExcludedFromComputationOfEarningsPerShareByAntidilutiveSecuritiesAxis__custom--WarrantsMember_pdd" TITLE="Antidilutive shares">44,644</FONT> outstanding warrants to purchase shares of common stock, (ii) employee stock options to purchase an aggregate of <FONT ID="xdx_909_eus-gaap--AntidilutiveSecuritiesExcludedFromComputationOfEarningsPerShareAmount_c20240101__20240331__us-gaap--AntidilutiveSecuritiesExcludedFromComputationOfEarningsPerShareByAntidilutiveSecuritiesAxis__custom--EmployeeStockOptionsMember_pdd" TITLE="Antidilutive shares">1,387,775</FONT> shares
of common stock, (iii) <FONT ID="xdx_90D_eus-gaap--AntidilutiveSecuritiesExcludedFromComputationOfEarningsPerShareAmount_c20240101__20240331__us-gaap--AntidilutiveSecuritiesExcludedFromComputationOfEarningsPerShareByAntidilutiveSecuritiesAxis__custom--SeriesDConvertiblePreferredStockMember_pdd" TITLE="Antidilutive shares">639,667</FONT> common shares issuable upon conversion of Series D Convertible Preferred Stock, and (iv) <FONT ID="xdx_90C_eus-gaap--AntidilutiveSecuritiesExcludedFromComputationOfEarningsPerShareAmount_c20240101__20240331__us-gaap--AntidilutiveSecuritiesExcludedFromComputationOfEarningsPerShareByAntidilutiveSecuritiesAxis__custom--SeriesEConvertiblePreferredStockMember_pdd" TITLE="Antidilutive shares">4,541,667</FONT> common
shares issuable upon conversion of Series E Convertible Preferred Stock, all of which were excluded from the computation of diluted net
earnings per share because their inclusion would have been anti-dilutive.</P>

<P ID="xdx_238_z0q3lCe7T0j9" STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify">&#160;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify"><B>&#160;</B></P>

<P ID="xdx_230_zOhaxg3Cp1J2" STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify"><B></B></P>

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<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify"><B></B></P>

<P ID="xdx_848_eus-gaap--LesseeLeasesPolicyTextBlock_zQqjWYvvbao3" STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify"><B><FONT STYLE="text-decoration: underline"><FONT ID="xdx_86A_zv8lLXd2329g">Leases</FONT></FONT></B></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify">&#160;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify">The Company follows ASC 842 &#8220;Leases&#8221;.
This guidance requires lessees to recognize right-of-use (&#8220;ROU&#8221;) assets and lease liabilities for most operating leases. In
addition, this guidance requires that lessors separate lease and non-lease components in a contract in accordance with the revenue guidance
in ASC 606.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify">&#160;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify">The Company made an accounting policy election to
not recognize short-term leases with terms of twelve months or less on the balance sheet and instead recognize the lease payments in expense
as incurred. The Company has also elected to account for real estate leases that contain both lease and non-lease components as a single
lease component.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify">&#160;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify">At the inception of a contract the Company assesses
whether the contract is, or contains, a lease. The Company&#8217;s assessment is based on: (1) whether the contract involves the use of
a distinct identified asset, (2) whether we obtain the right to substantially all the economic benefit from the use of the asset throughout
the period, and (3) whether we have the right to direct the use of the asset.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify">&#160;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify">Operating ROU assets represent the right to use the
leased asset for the lease term and operating lease liabilities are recognized based on the present value of minimum lease payments over
the lease term at commencement date. As most leases do not provide an implicit rate, the Company uses an incremental borrowing rate based
on the information available at the lease commencement date to determine the present value of future payments. The lease term includes
all periods covered by renewal and termination options where the Company is reasonably certain to exercise the renewal options or not
to exercise the termination options. Operating lease expense is recognized on a straight-line basis over the lease term and is included
in general and administration expenses in the consolidated statements of operations.&#160;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify"><B>&#160;</B>&#160;</P>

<P ID="xdx_84D_eus-gaap--NewAccountingPronouncementsPolicyPolicyTextBlock_zOn96xcmoNWj" STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify"><B><FONT STYLE="text-decoration: underline"><FONT ID="xdx_861_zb1N5HO8fUc2">Recent Accounting Pronouncements</FONT></FONT></B></P>

<P STYLE="font: 10pt/11pt Times New Roman, Times, Serif; margin: 0; text-align: justify">&#160;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify">From time to time, the FASB or other standards setting
bodies will issue new accounting pronouncements. Updates to the FASB ASC are communicated through issuance of an Accounting Standards
Update (&#8220;ASU&#8221;).</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify"></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify">&#160;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify">In December 2023, the FASB issued ASU No. 2023-09
Income Taxes (Topic 740): Improvements to Income Tax Disclosures. ASU 2023-09 requires companies to disclose, on an annual basis, specific
categories in the effective tax rate reconciliation and provide additional information for reconciling items that meet a quantitative
threshold. Further, ASU 2023-09 requires companies to disclose additional information about income taxes paid. ASU 2023-09 is effective
for annual periods beginning January 1, 2025 and will be applied on a prospective basis with the option to apply the standard retrospectively.
The Company evaluated the disclosure impact of ASU 2023-09; and determined the standard will not have an impact on the Company&#8217;s
consolidated financial statements.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify">&#160;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify">In November 2024, the FASB issued ASU 2024-03, Income
Statement&#8212;Reporting Comprehensive Income&#8212;Expense Disaggregation Disclosures (Subtopic 220-40), which requires entities to
provide more detailed disaggregation of expenses in the income statement, focusing on the nature of the expenses rather than their function.
The new disclosures will require entities to separately present expenses for significant line items, including but not limited to, depreciation,
amortization, and employee compensation. Entities will also be required to provide a qualitative description of the amounts remaining
in relevant expense captions that are not separately disaggregated quantitatively, disclose the total amount of selling expenses and,
in annual reporting periods, provide a definition of what constitutes selling expenses. This pronouncement is effective for fiscal years
beginning after December 15, 2026, and interim periods within fiscal years beginning after December 15, 2027, with early adoption permitted.
The Company does not expect the adoption of this new guidance to have a material impact on the consolidated financial statements.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify">&#160;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify">Management does not believe that any other recently
issued, but not yet effective accounting pronouncements, if adopted, would have a material effect on the accompanying financial statements.</P>

<P ID="xdx_230_z67Hpf5oDdo3" STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify">&#160;</P>

<P ID="xdx_238_zidgMgQT2CUg" STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify">&#160;</P>

<P ID="xdx_235_zsXUPzB4UiRg" STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify"></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify"></P>

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<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify">&#160;</P>

<P ID="xdx_80B_eus-gaap--SubstantialDoubtAboutGoingConcernTextBlock_zh9HpMEZeSW7" STYLE="font: 10pt/11pt Times New Roman, Times, Serif; margin: 0; text-align: justify"><B>NOTE 2 &#8211; <FONT ID="xdx_82C_zw1JHTEBz553">LIQUIDITY</FONT></B></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify">&#160;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify">Under Accounting Codification ASC 205, Presentation
of Financial Statements&#8212;Going Concern (Subtopic 205-40) (&#8220;ASC 205-40&#8221;), the Company has the responsibility to evaluate
whether conditions and/or events raise substantial doubt about its ability to meet its future financial obligations as they become due
within one year after the date that the financial statements are issued. As required by ASC 205-40, this evaluation shall initially not
take into consideration the potential mitigating effects of plans that have not been fully implemented as of the date the financial statements
are issued. Management has assessed the Company&#8217;s ability to continue as a going concern in accordance with the requirement of ASC
205-40.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify">&#160;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify">As reflected in the accompanying consolidated financial
statements, the Company had a net loss of $<FONT ID="xdx_908_eus-gaap--NetIncomeLoss_iN_pp0p0_di_c20250101__20250331_zjQVRfAiHLcj" TITLE="Net loss">2,079,663</FONT> for the three months ended March 31, 2025. During the same period, cash used in operating
activities was $<FONT ID="xdx_904_eus-gaap--NetCashProvidedByUsedInOperatingActivities_iN_pp0p0_di_c20250101__20250331_zYsnpNqUCNjd" TITLE="Cash used in operating activities">4,673,425</FONT>. The working capital deficit and accumulated deficit as of March 31, 2025, were $<FONT ID="xdx_909_ecustom--WorkingCapitalDeficit_c20250331_pp0p0" TITLE="Working capital deficit">6,502,554</FONT> and $<FONT ID="xdx_909_eus-gaap--RetainedEarningsAccumulatedDeficit_iNI_pp0p0_di_c20250331_z5btXbuaTPcl" TITLE="Accumulated deficit">76,447,672</FONT>,
respectively. In previous financial reports, the Company had raised substantial doubt about continuing as a going concern. This was  prior to securities underwritten offerings, private placements and more recently, funds raised via an ATM as well as an advance
from New APR all of which were completed during 2022, 2023,
2024 and 2025 as well.&#160;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify">&#160;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0 0 6pt; text-align: justify">As previously noted, the Company was
successful during 2023 in raising gross proceeds of over $11,500,000 from the sale of Series E and F Convertible Preferred Stock.
Additionally, in the first and second quarters of 2024, the Company raised gross proceeds of $<FONT ID="xdx_90A_eus-gaap--ProceedsFromIssuanceOfPreferredStockAndPreferenceStock_pp0p0_c20240101__20240630_z2vC9pAjHree" TITLE="Proceeds from preferred stock issued">2,995,002</FONT>
from the issuance of a combination of Series D and E Preferred Stock (See Note 9). The Company successfully raised approximately
$<FONT ID="xdx_907_ecustom--CommonStockIssuedForCashUnderAtm_pp0p0_c20240101__20241231_zJoKODnJKOG2" TITLE="Common stock issued for cash under ATM">3,544,689</FONT>
in gross proceeds through its At-The-Market (ATM) offering program in 2024 and secured an additional $<FONT ID="xdx_90D_ecustom--CommonStockIssuedForCashUnderAtm_pp0p0_c20250101__20250228_zqOzu0S9TQp6" TITLE="Common stock issued for cash under ATM">3,954,940</FONT>
in gross proceeds during the first two months of 2025. Additionally, during the second quarter of 2025, the Company will again have
access to its S-3 &#8220;shelf registration&#8221; statement allowing the Company to sell additional securities. At the time of this
document, the Company estimates that it will have available capacity on its shelf registration which it can utilize to bolster
working capital and growth of the business in the event that revenues from its recently executed AMA with New APR do not provide
sufficient cash flow to support operations. Although additional investment is not assured, the Company is comfortable that it would
be able to raise sufficient capital to support expanded operations based on an anticipated increase in business activity. In the
long run, the continuation of the Company as a going concern is dependent upon the ability of the Company to continue executing its
business plan, generate enough revenue, and attain consistently profitable operations. We have analyzed our cash flow under
&#8220;stress test&#8221; conditions and have determined that we have sufficient liquid assets on hand or available via the capital
markets to maintain operations for at least twelve months from the issuance date of this report.</P>

<P STYLE="font: 4pt Times New Roman, Times, Serif; margin: 0">&#160;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify">In addition, management has taken and continues to
take actions including, but not limited to, elimination of certain costs that do not contribute to short term revenue, and re-aligning
both management and staffing with a focus on improving certain skill sets necessary to build growth and profitability and focusing product
strategy on opportunities that are likely to bear results in the relatively short term. The Company believes that, with the combination
of commercial sales success, coupled with an S-3 shelf registration availability starting in the second quarter of 2025, it will have
sufficient working capital to meet its obligations over the following twelve months. In the last twelve months the Company has seen growth
in its contracted backlog as well as significant, positive signs from new commercial projects that indicate improvements in future revenues.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify">&#160;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify">Management believes that, at this time, the conditions
in our traditional market space with ongoing contract delays, the consequent need to procure certain materials in advance of a binding
contract and the additional time needed to execute on new contracts previously reported could put a strain on our cash reserves. However,
the anticipated steady cashflow from the AMA and the ability to raise capital via its shelf registration indicate there is no substantial
doubt for the Company to continue as a going concern for a period of twelve months. We expect to continue executing the plan to grow our
business and achieve profitability as previously discussed. The Company may selectively look at opportunities for fundraising in the future
including potential debt offerings to support asset acquisition. Management has extensively evaluated our requirements for the next twelve
months and has determined that the Company currently has sufficient cash and access to capital to operate for at least that period.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify">&#160;&#160;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify">While no assurance can be provided, management believes
that these actions provide the opportunity for the Company to continue as a going concern and to grow its business and achieve profitability
with access to additional capital funding. Ultimately the continuation of the Company as a going concern is dependent upon the ability
of the Company to continue executing the plan described above which was put in place in late 2024 and will continue in 2025 and beyond.
These consolidated financial statements do not include any adjustments related to the recoverability and classification of recorded asset
amounts and classification of liabilities that might be necessary should the Company be unable to continue as a going concern.&#160;</P>

<P ID="xdx_233_zbY5gk4s6uB5" STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify">&#160;</P>


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<P STYLE="font: 4pt Times New Roman, Times, Serif; margin: 0">&#160;</P>

<P STYLE="font: 4pt Times New Roman, Times, Serif; margin: 0">&#160;</P>

<P ID="xdx_800_eus-gaap--LoansNotesTradeAndOtherReceivablesDisclosureTextBlock_zFukj96f9oah" STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify"><B>NOTE 3 &#8211;<FONT ID="xdx_825_z8KxLxkcdd53"> ACCOUNTS RECEIVABLE</FONT> </B></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify">&#160;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify">Accounts receivable were as follows at March 31, 2025
and December 31, 2024:</P>

<TABLE CELLPADDING="0" CELLSPACING="0" ID="xdx_891_eus-gaap--ScheduleOfAccountsNotesLoansAndFinancingReceivableTextBlock_zj5Ruu2uNKo9" SUMMARY="xdx: Disclosure - ACCOUNTS RECEIVABLE (Details- Accounts receivable)" STYLE="font: 11pt Arial, Helvetica, Sans-Serif; border-collapse: collapse; width: 100%">
  <TR STYLE="vertical-align: bottom">
    <TD ID="xdx_8B8_zwkYgCNPUCl1" STYLE="display: none">&#160;Schedule of accounts receivable</TD><TD>&#160;</TD>
    <TD COLSPAN="2" ID="xdx_499_20250331_zR6iVktgbr7">&#160;</TD><TD>&#160;</TD><TD>&#160;</TD>
    <TD COLSPAN="2" ID="xdx_49E_20241231_zibU0aAhz0v7">&#160;</TD><TD>&#160;</TD></TR>
<TR STYLE="vertical-align: bottom">
    <TD STYLE="text-align: center">&#160;</TD><TD STYLE="font: bold 8pt Times New Roman, Times, Serif; padding-bottom: 1pt">&#160;</TD>
    <TD COLSPAN="2" STYLE="border-bottom: Black 1pt solid; font: bold 8pt Times New Roman, Times, Serif; text-align: center">March 31,<BR> 2025</TD><TD STYLE="font: bold 8pt Times New Roman, Times, Serif; padding-bottom: 1pt">&#160;</TD><TD STYLE="font: bold 8pt Times New Roman, Times, Serif; padding-bottom: 1pt">&#160;</TD>
    <TD COLSPAN="2" STYLE="border-bottom: Black 1pt solid; font: bold 8pt Times New Roman, Times, Serif; text-align: center">December 31,<BR> 2024</TD><TD STYLE="font: bold 8pt Times New Roman, Times, Serif; padding-bottom: 1pt">&#160;</TD></TR>
  <TR ID="xdx_400_eus-gaap--AccountsReceivableGross_iI_pp0p0_maARNzucD_maARNzgc2_zQRw1AXcPfK2" STYLE="vertical-align: bottom; background-color: rgb(204,238,255)">
    <TD STYLE="font: 10pt Times New Roman, Times, Serif; width: 66%; text-align: left">Accounts receivable</TD><TD STYLE="font: 10pt Times New Roman, Times, Serif; width: 1%">&#160;</TD>
    <TD STYLE="font: 10pt Times New Roman, Times, Serif; width: 1%; text-align: left">$</TD><TD STYLE="font: 10pt Times New Roman, Times, Serif; width: 14%; text-align: right">215,060</TD><TD STYLE="font: 10pt Times New Roman, Times, Serif; width: 1%; text-align: left">&#160;</TD><TD STYLE="font: 10pt Times New Roman, Times, Serif; width: 1%">&#160;</TD>
    <TD STYLE="font: 10pt Times New Roman, Times, Serif; width: 1%; text-align: left">$</TD><TD STYLE="font: 10pt Times New Roman, Times, Serif; width: 14%; text-align: right">185,044</TD><TD STYLE="font: 10pt Times New Roman, Times, Serif; width: 1%; text-align: left">&#160;</TD></TR>
  <TR ID="xdx_40A_ecustom--AccountsReceivableRelatedParty_iIP3us-gaap--AccountsReceivableGross_pp0p0_maARNzucD_maARNzgc2_zrr1ezxlie4" STYLE="vertical-align: bottom; background-color: White">
    <TD STYLE="font: 10pt Times New Roman, Times, Serif; text-align: left">Accounts receivable - related party</TD><TD STYLE="font: 10pt Times New Roman, Times, Serif">&#160;</TD>
    <TD STYLE="font: 10pt Times New Roman, Times, Serif; text-align: left">&#160;</TD><TD STYLE="font: 10pt Times New Roman, Times, Serif; text-align: right"><P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0">1,760,625</P></TD><TD STYLE="font: 10pt Times New Roman, Times, Serif; text-align: left">&#160;</TD><TD STYLE="font: 10pt Times New Roman, Times, Serif">&#160;</TD>
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  <TR ID="xdx_408_eus-gaap--AllowanceForDoubtfulAccountsReceivable_iNI_pp0p0_di_msARNzucD_zssPr5vcI7Wh" STYLE="vertical-align: bottom; background-color: rgb(204,238,255)">
    <TD STYLE="font: 10pt Times New Roman, Times, Serif; text-align: left; padding-bottom: 1pt">Allowance for credit losses</TD><TD STYLE="font: 10pt Times New Roman, Times, Serif; padding-bottom: 1pt">&#160;</TD>
    <TD STYLE="border-bottom: Black 1pt solid; font: 10pt Times New Roman, Times, Serif; text-align: left">&#160;</TD><TD STYLE="border-bottom: Black 1pt solid; font: 10pt Times New Roman, Times, Serif; text-align: right">&#8212;</TD><TD STYLE="font: 10pt Times New Roman, Times, Serif; padding-bottom: 1pt; text-align: left">&#160;</TD><TD STYLE="font: 10pt Times New Roman, Times, Serif; padding-bottom: 1pt">&#160;</TD>
    <TD STYLE="border-bottom: Black 1pt solid; font: 10pt Times New Roman, Times, Serif; text-align: left">&#160;</TD><TD STYLE="border-bottom: Black 1pt solid; font: 10pt Times New Roman, Times, Serif; text-align: right">(76,037</TD><TD STYLE="font: 10pt Times New Roman, Times, Serif; padding-bottom: 1pt; text-align: left">)</TD></TR>
  <TR ID="xdx_406_eus-gaap--AccountsReceivableNet_iTI_pp0p0_mtARNzucD_zQcRbfFT6QQ1" STYLE="vertical-align: bottom; background-color: White">
    <TD STYLE="font: 10pt Times New Roman, Times, Serif; text-align: left; padding-bottom: 2.5pt">Accounts receivable, net</TD><TD STYLE="font: 10pt Times New Roman, Times, Serif; padding-bottom: 2.5pt">&#160;</TD>
    <TD STYLE="border-bottom: Black 2.5pt double; font: 10pt Times New Roman, Times, Serif; text-align: left">$</TD><TD STYLE="border-bottom: Black 2.5pt double; font: 10pt Times New Roman, Times, Serif; text-align: right">1,975,685</TD><TD STYLE="font: 10pt Times New Roman, Times, Serif; padding-bottom: 2.5pt; text-align: left">&#160;</TD><TD STYLE="font: 10pt Times New Roman, Times, Serif; padding-bottom: 2.5pt">&#160;</TD>
    <TD STYLE="border-bottom: Black 2.5pt double; font: 10pt Times New Roman, Times, Serif; text-align: left">$</TD><TD STYLE="border-bottom: Black 2.5pt double; font: 10pt Times New Roman, Times, Serif; text-align: right">403,441</TD><TD STYLE="font: 10pt Times New Roman, Times, Serif; padding-bottom: 2.5pt; text-align: left">&#160;</TD></TR>
  </TABLE>

<P ID="xdx_8A2_zZ3GNoLfjif7" STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify">&#160;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify">The Company recorded bad debt expense (recovery)
of $(<FONT ID="xdx_902_ecustom--BadDebtExpense_pp0p0_c20250101__20250331_zqeiTv91ibQc" TITLE="Bad debt expense">76,307</FONT>) and zero for the three months ended March 31, 2025 and 2024, respectively.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify">&#160;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify">A summary of the activity related to our allowance
for credit losses at March 31, 2025 and December 31, 2024 is summarized below.&#160;</P>

<TABLE CELLPADDING="0" CELLSPACING="0" ID="xdx_89F_ecustom--ScheduleOfAllowanceForDoubtfulAccountsTableTextBlock_ziJsGaOdl4zb" SUMMARY="xdx: Disclosure - ACCOUNTS RECEIVABLE (Details- Allowance for doubtful accounts)" STYLE="font: 11pt Arial, Helvetica, Sans-Serif; border-collapse: collapse; width: 100%">
  <TR STYLE="vertical-align: bottom; background-color: White">
    <TD ID="xdx_8B3_zcvnu97XvKs7" STYLE="font: 10pt Times New Roman, Times, Serif; display: none; text-align: left">Schedule of allowance for doubtful accounts</TD><TD STYLE="font: 10pt Times New Roman, Times, Serif">&#160;</TD>
    <TD STYLE="font: 10pt Times New Roman, Times, Serif; text-align: left">&#160;</TD><TD ID="xdx_496_20250101_20250331" STYLE="font: 10pt Times New Roman, Times, Serif; text-align: right">&#160;</TD><TD STYLE="font: 10pt Times New Roman, Times, Serif; text-align: left">&#160;</TD><TD STYLE="font: 10pt Times New Roman, Times, Serif">&#160;</TD>
    <TD STYLE="font: 10pt Times New Roman, Times, Serif; text-align: left">&#160;</TD><TD ID="xdx_493_20240101__20241231_zzSLu5jMtxRk" STYLE="font: 10pt Times New Roman, Times, Serif; text-align: right">&#160;</TD><TD STYLE="font: 10pt Times New Roman, Times, Serif; text-align: left">&#160;</TD></TR>
  <TR STYLE="vertical-align: bottom">
    <TD STYLE="text-align: center">&#160;</TD><TD STYLE="font: bold 8pt Times New Roman, Times, Serif; padding-bottom: 1pt">&#160;</TD>
    <TD COLSPAN="2" STYLE="border-bottom: Black 1pt solid; font: bold 8pt Times New Roman, Times, Serif; text-align: center">March 31,<BR> 2025</TD><TD STYLE="font: bold 8pt Times New Roman, Times, Serif; padding-bottom: 1pt">&#160;</TD><TD STYLE="font: bold 8pt Times New Roman, Times, Serif; padding-bottom: 1pt">&#160;</TD>
    <TD COLSPAN="2" STYLE="border-bottom: Black 1pt solid; font: bold 8pt Times New Roman, Times, Serif; text-align: center">December
    31,<BR> 2024</TD><TD STYLE="font: bold 8pt Times New Roman, Times, Serif; padding-bottom: 1pt">&#160;</TD></TR>
  <TR ID="xdx_404_eus-gaap--AllowanceForDoubtfulAccountsReceivable_iNS_pp0p0_di_zlLd2c14mS2" STYLE="vertical-align: bottom; background-color: rgb(204,238,255)">
    <TD STYLE="font: 10pt Times New Roman, Times, Serif; width: 66%; text-align: left">Allowance for credit losses, beginning balance</TD><TD STYLE="font: 10pt Times New Roman, Times, Serif; width: 1%">&#160;</TD>
    <TD STYLE="font: 10pt Times New Roman, Times, Serif; width: 1%; text-align: left">$</TD><TD STYLE="font: 10pt Times New Roman, Times, Serif; width: 14%; text-align: right">(76,037</TD><TD STYLE="font: 10pt Times New Roman, Times, Serif; width: 1%; text-align: left">)</TD><TD STYLE="width: 1%">&#160;</TD>
    <TD STYLE="width: 1%; text-align: left">$</TD><TD STYLE="width: 14%; text-align: right">&#8212;</TD><TD STYLE="width: 1%; text-align: left">&#160;</TD></TR>
  <TR ID="xdx_405_eus-gaap--ProvisionForDoubtfulAccounts_iN_pp0p0_di0_zSf39faoSp0b" STYLE="vertical-align: bottom; background-color: White">
    <TD STYLE="font: 10pt Times New Roman, Times, Serif; text-align: left">Allowance for credit losses provision</TD><TD STYLE="font: 10pt Times New Roman, Times, Serif">&#160;</TD>
    <TD STYLE="font: 10pt Times New Roman, Times, Serif; text-align: left">&#160;</TD><TD STYLE="font: 10pt Times New Roman, Times, Serif; text-align: right">&#8212;</TD><TD STYLE="font: 10pt Times New Roman, Times, Serif; text-align: left">&#160;</TD><TD STYLE="font: 10pt Times New Roman, Times, Serif">&#160;</TD>
    <TD STYLE="font: 10pt Times New Roman, Times, Serif; text-align: left">&#160;</TD><TD STYLE="font: 10pt Times New Roman, Times, Serif; text-align: right">(76,037</TD><TD STYLE="font: 10pt Times New Roman, Times, Serif; text-align: left">)</TD></TR>
  <TR ID="xdx_406_eus-gaap--AllowanceForDoubtfulAccountsReceivableRecoveries_i_pp0p0" STYLE="vertical-align: bottom; background-color: rgb(204,238,255)">
    <TD STYLE="font: 10pt Times New Roman, Times, Serif; text-align: left; padding-bottom: 1pt">Less recoveries</TD><TD STYLE="font: 10pt Times New Roman, Times, Serif; padding-bottom: 1pt">&#160;</TD>
    <TD STYLE="border-bottom: Black 1pt solid; font: 10pt Times New Roman, Times, Serif; text-align: left">&#160;</TD><TD STYLE="border-bottom: Black 1pt solid; font: 10pt Times New Roman, Times, Serif; text-align: right">76,037</TD><TD STYLE="font: 10pt Times New Roman, Times, Serif; padding-bottom: 1pt; text-align: left">&#160;</TD><TD STYLE="padding-bottom: 1pt">&#160;</TD>
    <TD STYLE="border-bottom: Black 1pt solid; text-align: left">&#160;</TD><TD STYLE="border-bottom: Black 1pt solid; text-align: right">&#8212;</TD><TD STYLE="padding-bottom: 1pt; text-align: left">&#160;</TD></TR>
  <TR ID="xdx_409_eus-gaap--AllowanceForDoubtfulAccountsReceivable_iNE_pp0p0_di_zC7SBIIC9Zg5" STYLE="vertical-align: bottom; background-color: White">
    <TD STYLE="font: 10pt Times New Roman, Times, Serif; text-align: left; padding-bottom: 2.5pt">Allowance for credit losses, ending balance</TD><TD STYLE="font: 10pt Times New Roman, Times, Serif; padding-bottom: 2.5pt">&#160;</TD>
    <TD STYLE="border-bottom: Black 2.5pt double; font: 10pt Times New Roman, Times, Serif; text-align: left">$</TD><TD STYLE="border-bottom: Black 2.5pt double; font: 10pt Times New Roman, Times, Serif; text-align: right">&#8212;</TD><TD STYLE="font: 10pt Times New Roman, Times, Serif; padding-bottom: 2.5pt; text-align: left">&#160;</TD><TD STYLE="font: 10pt Times New Roman, Times, Serif; padding-bottom: 2.5pt">&#160;</TD>
    <TD STYLE="border-bottom: Black 2.5pt double; font: 10pt Times New Roman, Times, Serif; text-align: left">$</TD><TD STYLE="border-bottom: Black 2.5pt double; font: 10pt Times New Roman, Times, Serif; text-align: right">(76,037</TD><TD STYLE="font: 10pt Times New Roman, Times, Serif; padding-bottom: 2.5pt; text-align: left">)</TD></TR>
  </TABLE>

<P ID="xdx_8A7_zTBIXvwaRyq" STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify">&#160;&#160;</P>

<P ID="xdx_804_eus-gaap--IntangibleAssetsDisclosureTextBlock_zn5eE3HgWTtc" STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify"><B>NOTE 4 &#8211;<FONT ID="xdx_82C_z8idWIX24BTj"> INTANGIBLE ASSET</FONT></B></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify"><B>&#160;</B></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0 0 8pt; text-align: justify">In May 2024, the Company recorded an intangible
asset with a fair value of $<FONT ID="xdx_90C_eus-gaap--FiniteLivedIntangibleAssetsGross_iI_pp0p0_c20240531__us-gaap--FiniteLivedIntangibleAssetsByMajorClassAxis__us-gaap--CustomerContractsMember_zHkH2WAkhEAe" TITLE="Intangible asset fair value">11,161,428</FONT>. This asset represents non-monetary consideration received under a <FONT ID="xdx_90B_ecustom--TermOfContract_dtY_c20240530__20240531__us-gaap--FiniteLivedIntangibleAssetsByMajorClassAxis__us-gaap--CustomerContractsMember_zXAXunTMM48g" TITLE="Term of contract">5</FONT>-year customer contract, in
which the Company will provide maintenance services to the customer. The intangible asset represents Digital Image data rights in the
form of a license agreement received by the Company from the customer.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0 0 8pt; text-align: justify">The fair value of the asset was determined on
the contract inception date based on the standalone selling price of the service and goods to be provided to the customer under the 5-year
contract since the Company could not reasonably estimate the fair value of the data rights received. The non-monetary transaction was
accounted for in accordance with Accounting Standards Codification (ASC) 606-10-32-21 through ASC 606-10-32-24.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0 0 8pt; text-align: justify">On the contract inception date, the
Company recorded deferred revenue of $<FONT ID="xdx_90F_eus-gaap--DeferredRevenueCurrent_iI_pp0p0_c20240531__us-gaap--FiniteLivedIntangibleAssetsByMajorClassAxis__us-gaap--CustomerContractsMember_zSNESQrrvCD2" TITLE="Deferred revenue">11,161,428</FONT>
as contract liabilities with a current and non-current component, and then immediately recognized amortization of $<FONT ID="xdx_901_eus-gaap--Revenues_pp0p0_c20240530__20240531__us-gaap--FiniteLivedIntangibleAssetsByMajorClassAxis__us-gaap--CustomerContractsMember_ztdlzEUHn4K8" TITLE="Revenues">199,008</FONT>
of this deferred revenue relating to the completed pilot program for this contract. The remaining deferred revenue is being recognized over the <FONT ID="xdx_907_ecustom--TermOfDeferredRevenue_dtY_c20240530__20240531__us-gaap--FiniteLivedIntangibleAssetsByMajorClassAxis__us-gaap--CustomerContractsMember_zC2CYIJLzXi8" TITLE="Term of deferred revenue">5</FONT>-year
term.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0 0 8pt; text-align: justify">In accordance with ASC 350-30-35-1, the amortization
for the intangible asset is based on its useful life and the useful life of an intangible asset is the period over which it is expected
to contribute directly or indirectly to the future cash flows of that entity. Accordingly, amortization of the intangible asset is recognized
over the life of the contract of five years.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0 0 8pt; text-align: justify">In accordance with ASC 350-30-35-14, an intangible
asset that is subject to amortization shall be reviewed for impairment if the carrying amount of the asset is not recoverable and exceeds
its fair value. There is no indication of impairment at March 31, 2025.</P>

<P ID="xdx_231_z0j3gbIJnHw3" STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify">&#160;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify"></P>

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<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify">&#160;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify">Intangible asset at March 31, 2025 and December 31,
2024 consists of:</P>

<TABLE CELLPADDING="0" CELLSPACING="0" ID="xdx_89B_eus-gaap--ScheduleOfFiniteLivedIntangibleAssetsTableTextBlock_zfc3X3MsjDwf" SUMMARY="xdx: Disclosure - INTANGIBLE ASSET (Details - Intangible Asset)" STYLE="font: 10pt Times New Roman, Times, Serif; border-collapse: collapse; width: 100%">
  <TR STYLE="vertical-align: bottom">
    <TD ID="xdx_8B5_zftg6WMbjnU6" STYLE="display: none; font-size: 11pt">&#160;Schedule of intangible asset</TD><TD STYLE="font-size: 11pt">&#160;</TD>
    <TD COLSPAN="2" ID="xdx_493_20250331_zh5rvE5kCFX4" STYLE="font-size: 11pt; text-align: center">&#160;</TD><TD STYLE="font-size: 11pt">&#160;</TD><TD STYLE="font-size: 11pt">&#160;</TD>
    <TD COLSPAN="2" ID="xdx_493_20241231_zJUbR36DUE59" STYLE="font-size: 11pt; text-align: center">&#160;</TD><TD STYLE="font-size: 11pt">&#160;</TD></TR>
  <TR STYLE="vertical-align: bottom">
    <TD STYLE="padding-bottom: 1pt; font-size: 11pt">&#160;</TD><TD STYLE="padding-bottom: 1pt; font-size: 8pt; font-weight: bold">&#160;</TD>
    <TD COLSPAN="2" STYLE="border-bottom: Black 1pt solid; font-size: 8pt; font-weight: bold; text-align: center">March 31,<BR> 2025</TD><TD STYLE="padding-bottom: 1pt; font-size: 8pt; font-weight: bold">&#160;</TD><TD STYLE="padding-bottom: 1pt; font-size: 8pt; font-weight: bold">&#160;</TD>
    <TD COLSPAN="2" STYLE="border-bottom: Black 1pt solid; font-size: 8pt; font-weight: bold; text-align: center">December 31,<BR> 2024</TD><TD STYLE="padding-bottom: 1pt; font-size: 8pt; font-weight: bold">&#160;</TD></TR>
  <TR ID="xdx_409_eus-gaap--FiniteLivedIntangibleAssetsGross_iI_pp0p0_maFLIANzSzH_zJnC86TLmiRf" STYLE="vertical-align: bottom; background-color: rgb(204,238,255)">
    <TD STYLE="width: 66%; text-align: left">Intangible Asset, gross</TD><TD STYLE="width: 1%">&#160;</TD>
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    <TD STYLE="width: 1%; text-align: left">$</TD><TD STYLE="width: 14%; text-align: right">11,161,428</TD><TD STYLE="width: 1%; text-align: left">&#160;</TD></TR>
  <TR ID="xdx_403_eus-gaap--FiniteLivedIntangibleAssetsAccumulatedAmortization_iNI_pp0p0_di_msFLIANzSzH_zMMGQLodYo3d" STYLE="vertical-align: bottom; background-color: White">
    <TD STYLE="text-align: left; padding-bottom: 1pt">Accumulated Amortization</TD><TD STYLE="padding-bottom: 1pt">&#160;</TD>
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    <TD STYLE="border-bottom: Black 1pt solid; text-align: left">&#160;</TD><TD STYLE="border-bottom: Black 1pt solid; text-align: right">(1,569,310</TD><TD STYLE="padding-bottom: 1pt; text-align: left">)</TD></TR>
  <TR ID="xdx_40A_eus-gaap--FiniteLivedIntangibleAssetsNet_iTI_pp0p0_mtFLIANzSzH_z1Y59DiijA7f" STYLE="vertical-align: bottom; background-color: rgb(204,238,255)">
    <TD STYLE="text-align: left; padding-bottom: 2.5pt">Intangible Asset, net</TD><TD STYLE="padding-bottom: 2.5pt">&#160;</TD>
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  </TABLE>


<P ID="xdx_8A4_zbdkMGOTccd2" STYLE="font: 12pt Times New Roman, Times, Serif; text-align: justify"></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0 0 12pt; text-align: justify">Amortization of the intangible asset for the
three months ended March 31, 2025 and the year ended December 31, 2024, was $<FONT ID="xdx_90D_eus-gaap--AmortizationOfIntangibleAssets_c20250101__20250331_pp0p0">548,122
</FONT>and zero, respectively.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify">The future amortization of the intangible asset is
as follows:</P>

<TABLE CELLPADDING="0" CELLSPACING="0" ID="xdx_89C_eus-gaap--ScheduleofFiniteLivedIntangibleAssetsFutureAmortizationExpenseTableTextBlock_zJC3bnhiOsig" SUMMARY="xdx: Disclosure - Disclosure -INTANGIBLE ASSET (Details - Future amortization)" STYLE="font: 11pt Arial, Helvetica, Sans-Serif; border-collapse: collapse; width: 100%">
  <TR STYLE="vertical-align: bottom">
    <TD COLSPAN="2" ID="xdx_8BE_zWxosjSaAJGk" STYLE="display: none; text-align: left; vertical-align: bottom">&#160;Schedule of future amortization of intangible assets</TD><TD>&#160;</TD><TD>&#160;</TD>
    <TD COLSPAN="2">&#160;</TD><TD>&#160;</TD></TR>
  <TR STYLE="vertical-align: bottom">
    <TD COLSPAN="2" STYLE="font: bold 8pt Times New Roman, Times, Serif; padding-bottom: 1pt; text-align: left; vertical-align: bottom">Calendar Year</TD><TD STYLE="font: bold 8pt Times New Roman, Times, Serif; padding-bottom: 1pt">&#160;</TD><TD STYLE="font: bold 8pt Times New Roman, Times, Serif; color: #104861; padding-bottom: 1pt">&#160;</TD>
    <TD COLSPAN="2" STYLE="border-bottom: Black 1pt solid; font: bold 8pt Times New Roman, Times, Serif; color: #104861; text-align: center">Amount</TD><TD STYLE="font: bold 8pt Times New Roman, Times, Serif; padding-bottom: 1pt; color: #104861">&#160;</TD></TR>
  <TR STYLE="vertical-align: bottom; background-color: rgb(204,238,255)">
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  <TR STYLE="vertical-align: bottom; background-color: White">
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  <TR STYLE="vertical-align: bottom; background-color: rgb(204,238,255)">
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  <TR STYLE="vertical-align: bottom; background-color: White">
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  <TR STYLE="vertical-align: bottom; background-color: rgb(204,238,255)">
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  <TR STYLE="vertical-align: bottom; background-color: White">
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  </TABLE>

<P ID="xdx_8A2_zSWFVORxhZN5" STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify"><B>&#160;</B></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify"><B></B></P>

<P ID="xdx_80F_ecustom--CashAdvancePaymentSawgrassHoldingsLlcTextBlock_zajCqDixZgCd" STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify"><B>NOTE 5  &#8211;<FONT ID="xdx_820_zqWazaxIGKE3"> CASH ADVANCE PAYMENT &#8211; SAWGRASS
HOLDINGS LLC</FONT></B>&#160;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify"><B></B></P>

<TABLE CELLPADDING="0" CELLSPACING="0" ID="xdx_889_ecustom--ScheduleOfCashAdvancePaymentSawgrassHoldingsLlcTableTextBlock_zSv52jh3JEsc" SUMMARY="xdx: Disclosure - CASH ADVANCE PAYMENT - SAWGRASS HOLDINGS LLC (Details)" STYLE="font: 10pt Times New Roman, Times, Serif; border-collapse: collapse; width: 100%">
  <TR STYLE="vertical-align: bottom">
    <TD ID="xdx_8B4_z38wcGoYFL2a" STYLE="display: none; font-size: 11pt; text-align: left">Schedule of cash advance payment&#160;</TD><TD STYLE="font-size: 8pt; font-weight: bold; padding-bottom: 1pt">&#160;</TD>
    <TD COLSPAN="2" ID="xdx_497_20250331__srt--CounterpartyNameAxis__custom--SawgrassHoldingsLLCMember_zg89BoRo4dK6" STYLE="font-size: 8pt; font-weight: bold; text-align: center">&#160;</TD><TD STYLE="padding-bottom: 1pt; font-size: 8pt; font-weight: bold">&#160;</TD></TR>
  <TR STYLE="vertical-align: bottom">
    <TD STYLE="font-size: 11pt; text-align: center">&#160;</TD><TD STYLE="font-size: 8pt; font-weight: bold; padding-bottom: 1pt">&#160;</TD>
    <TD COLSPAN="2" STYLE="border-bottom: Black 1pt solid; font-size: 8pt; font-weight: bold; text-align: center">Amount</TD><TD STYLE="padding-bottom: 1pt; font-size: 8pt; font-weight: bold">&#160;</TD></TR>
  <TR ID="xdx_40F_eus-gaap--Cash_iI_pp0p0_zMNYbjYB1Ia5" STYLE="vertical-align: bottom; background-color: rgb(204,238,255)">
    <TD STYLE="width: 83%">Cash as of December 31, 2024</TD><TD STYLE="width: 1%">&#160;</TD>
    <TD STYLE="width: 1%; text-align: left">$</TD><TD STYLE="width: 14%; text-align: right">5,000,000</TD><TD STYLE="width: 1%; text-align: left">&#160;</TD></TR>
  <TR ID="xdx_40E_eus-gaap--ContractWithCustomerLiabilityCurrent_iNI_pp0p0_di_zzgRpsLDrF1a" STYLE="vertical-align: bottom; background-color: White">
    <TD STYLE="text-align: left; padding-bottom: 1pt">Contract liabilities, current as of March 31, 2025</TD><TD STYLE="padding-bottom: 1pt">&#160;</TD>
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  <TR ID="xdx_409_ecustom--NetStatementOfOperationsImpact_iI_pp0p0_znFIpNGZNoYe" STYLE="vertical-align: bottom; background-color: rgb(204,238,255)">
    <TD STYLE="text-align: left; padding-bottom: 2.5pt">Revenue recognized  for the three months ended March 31, 2025</TD><TD STYLE="padding-bottom: 2.5pt">&#160;</TD>
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  </TABLE>


<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify"><B>&#160;</B>&#160;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify"><B></B></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify">In December 2024, the Company entered into a series
of contracts with FIG under which the Company will deploy and operate a fleet of mobile gas turbines and balance of-plant inventory,
providing management, sales and operations functions to New APR in connection with the assets. In exchange for services performed under
the Asset Management Agreement (&#8220;AMA&#8221;), the Company received an advance cash payments and common units in Sawgrass Parent
(see Note 6). The Company will account for the arrangement with New APR as Revenue from contracts with customers. New APR advanced the
Company $5.0 million in cash upon execution of the contract, which will be applied ratably on a monthly basis against amounts incurred
under the AMA for a period of 12 months in 2025. In the event that the AMA is terminated within the first 12 months, any balance remaining
of the advanced funds would be credited in full to Duos. The advanced consideration does not provide the benefit of financing as the cash
will be consumed within the first year of the contract to align the interests of both parties under the AMA. As of March 31, 2025, deferred
revenue under the arrangement was $<FONT ID="xdx_901_eus-gaap--DeferredRevenue_iI_pn4n6_c20250331__us-gaap--TypeOfArrangementAxis__custom--AssetManagementAgreementMember__srt--CounterpartyNameAxis__custom--SawgrassAPRHoldingsLLCMember_zYvC53eUIBbe" TITLE="Deferred revenue">3.75</FONT> million, comprised of the $<FONT ID="xdx_905_eus-gaap--PaymentsForAdvanceToAffiliate_pn3n3_dm_c20250101__20250331__us-gaap--TypeOfArrangementAxis__custom--AssetManagementAgreementMember__srt--CounterpartyNameAxis__custom--SawgrassHoldingsLLCMember_z2ba8OYIVlF2" TITLE="Advance payment">5.0</FONT> million advance payment less $<FONT ID="xdx_90F_eus-gaap--Revenues_pn4n6_c20250101__20250331__us-gaap--TypeOfArrangementAxis__custom--AssetManagementAgreementMember__srt--CounterpartyNameAxis__custom--SawgrassHoldingsLLCMember_zacF5tSTrhge" TITLE="Revenues">1.25</FONT> million recognized as earned
revenue under the AMA for the three months ended March 31, 2025.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify"><B>&#160;</B></P>

<P ID="xdx_80C_eus-gaap--EquityMethodInvestmentsDisclosureTextBlock_zERn968NEBFk" STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0"><B>NOTE 6 &#8211;<FONT ID="xdx_826_zzVzZtwTnfqb"> EQUITY INVESTMENT &#8211; SAWGRASS APR HOLDINGS LLC</FONT></B></P>

<TABLE CELLPADDING="0" CELLSPACING="0" ID="xdx_883_eus-gaap--EquityMethodInvestmentsTextBlock_z94RKTIx7ve5" SUMMARY="xdx: Disclosure - EQUITY INVESTMENT - SAWGRASS APR HOLDINGS LLC (Details)" STYLE="font: 11pt Arial, Helvetica, Sans-Serif; border-collapse: collapse; width: 100%">
  <TR STYLE="vertical-align: bottom">
    <TD STYLE="text-align: center"><FONT ID="xdx_8B5_zEgwbGRvGeGj" STYLE="display: none">Schedule of equity investment</FONT>&#160;</TD>
    <TD>&#160;</TD>
    <TD ID="xdx_49D_20250331__srt--CounterpartyNameAxis__custom--SawgrassAPRHoldingsLLCMember_zjm2UnueTOBj">&#160;</TD><TD>&#160;</TD>
    <TD COLSPAN="2" ID="xdx_49E_20241231__srt--CounterpartyNameAxis__custom--SawgrassAPRHoldingsLLCMember_zR6d5E2PkYid" STYLE="text-align: center">&#160;</TD><TD>&#160;</TD></TR>
  <TR STYLE="vertical-align: bottom">
    <TD STYLE="padding-bottom: 1pt; text-align: center">&#160;</TD>
    <TD>&#160;</TD>
    <TD STYLE="border-bottom: Black 1pt solid; font: bold 8pt Times New Roman, Times, Serif; text-align: center"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 8pt"><B>March 31,<BR> 2025</B></FONT></TD><TD STYLE="font: bold 8pt Times New Roman, Times, Serif; padding-bottom: 1pt">&#160;</TD>
    <TD COLSPAN="2" STYLE="border-bottom: Black 1pt solid; font: bold 8pt Times New Roman, Times, Serif; text-align: center">December 31,<BR> 2024</TD><TD STYLE="font: bold 8pt Times New Roman, Times, Serif; padding-bottom: 1pt">&#160;</TD></TR>
  <TR ID="xdx_40F_eus-gaap--EquityMethodInvestments_iI_pp0p0_zszKN3j3zFra" STYLE="vertical-align: bottom; background-color: rgb(204,238,255)">
    <TD STYLE="font: 10pt Times New Roman, Times, Serif; width: 68%; text-align: left">Equity Investment - Sawgrass APR Holdings LLC</TD>
    <TD STYLE="font: 10pt Times New Roman, Times, Serif; width: 1%; text-align: left">$</TD>
    <TD STYLE="text-align: right; width: 14%; vertical-align: bottom"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">7,233,000</FONT></TD><TD STYLE="font: 10pt Times New Roman, Times, Serif; width: 1%">&#160;</TD>
    <TD STYLE="font: 10pt Times New Roman, Times, Serif; width: 1%; text-align: left">$</TD><TD STYLE="font: 10pt Times New Roman, Times, Serif; width: 14%; text-align: right">7,233,000</TD><TD STYLE="font: 10pt Times New Roman, Times, Serif; width: 1%; text-align: left">&#160;</TD></TR>
  </TABLE>

<P STYLE="font: 7pt Times New Roman, Times, Serif; margin: 0 0 8pt; text-align: justify"></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0 0 10pt; text-align: justify">At the close of business December 31,
2024, Duos Energy Corporation, a subsidiary, executed an AMA with New APR to manage its operations. The Company&#8217;s CEO is also
the CEO of New APR and the operations of New APR are housed in the same facility as the Company in Jacksonville, Florida.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify">The Company was issued 5% non-voting ownership
interest in Sawgrass Parent, in the form of 25,882,353 common units, which is accounted for using the equity method. The Company
determined the equity method was appropriate since Sawgrass Parent is considered a related party due to common management and the
Company can exert significant influence over the operations of New APR. The Company concluded that the arrangement with New APR is
within the scope of ASC 606, Revenue from contracts with customers, and the common units issued to the Company by Sawgrass Parent
represented non-cash consideration under ASC 606-10-32-31. The initial carrying value as of December 31, 2024 of $<FONT ID="xdx_90C_ecustom--CarryingValueOfCommonUnitsReceived_iI_pn3n3_dm_c20250331__us-gaap--TypeOfArrangementAxis__custom--AssetManagementAgreementMember_zbqa2TB1aioj" TITLE="Carrying value of common units received">7.2</FONT>
million was measured equal to the fair value of the common units received for future services to be performed under the AMA which will be recognized over a period of two years. The
Company recorded $<FONT ID="xdx_908_eus-gaap--DeferredRevenue_iI_pn3n3_dm_c20250331__srt--CounterpartyNameAxis__custom--SawgrassParentMember_zXaRrkXhUXF4" TITLE="Deferred revenue">7.2</FONT>
million of an equity method investment asset and $<FONT ID="xdx_905_eus-gaap--EquityMethodInvestments_iI_pn3n3_dm_c20250331__us-gaap--TypeOfArrangementAxis__custom--AssetManagementAgreementMember_zIM2wplk6GZf" TITLE="Equity method investment">7.2</FONT>
million of deferred revenue for services to be performed under the AMA. For the three months ended March 31, 2025, the Company did
not recognize any equity in net income (loss) of the investee.</P>

<P STYLE="font: 12pt Arial, Helvetica, Sans-Serif; margin: 0; text-align: justify">&#160;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify">During the three months ended March 31, 2025, the
Company recognized $<FONT ID="xdx_905_eus-gaap--RecognitionOfDeferredRevenue_c20250101__20250331_zksXZhfj8Oe2" TITLE="Recognition of  deferred revenue">904,521</FONT> of deferred revenue (See Note 10).</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify">&#160;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify"></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify">Due to the unavailability of Q1-2025 financials from
Sawgrass Parent, our equity method investee, the Company has applied a one-quarter lag (in accordance with ASC 323-10-35-6) in reporting
and recording the value of its 5% minority investment. The Company has determined that its 5% interest shall be recorded using the Equity
Method in accordance with the terms of the Amended and Restated Limited Liability Company Agreement of Sawgrass APR Holding LLC (the &#8220;Agreement&#8221;)
whereby Net Profit and Net Loss for any Fiscal Year shall be allocated among the members in such a manner that, as of the end of such
fiscal year, the Capital Account Balance of each Member, as increased by the Member&#8217;s share of &#8220;minimum gain&#8221; and &#8220;partner
minimum gain&#8221; (as such terms are used in Treasury Regulations Section 1.704-2), shall, to the extent possible, be equal to the amount
which would have been distributed to such Member pursuant to a Hypothetical Liquidation, as defined in the Agreement, as of the end of
the last day of such fiscal year. This approach is consistent with the equity method of accounting as outlined in ASC 323-10-35-6, which
will be consistent for each quarter. Consequently, Duos will incorporate the financial results of the Sawgrass Parent into its Q2-2025
10-Q filing which will be applied using a management estimate, ensuring that the equity method is consistently applied.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify">&#160;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify">The Company assesses its equity method investment
for impairment whenever events or changes in circumstances indicate that the carrying amount of the investment may not be recoverable.
No impairment losses were recognized for the three months ended March 31, 2025.</P>

<P ID="xdx_234_zTSNnjG5wMR" STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify">&#160;</P>

<P ID="xdx_237_z2NWhSie5Im5" STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify">&#160;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify"></P>

<!-- Field: Page; Sequence: 139 -->
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    <!-- Field: /Page -->

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify"></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify"></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify"><B>&#160;</B></P>

<P ID="xdx_80E_eus-gaap--DebtDisclosureTextBlock_zvCszuKPNUkd" STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify"><B>NOTE 7 &#8211; <FONT ID="xdx_825_zyNzCDuZhRZ8">DEBT</FONT></B></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify">&#160;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0"><B><FONT STYLE="text-decoration: underline">Notes Payable - Financing Agreements</FONT></B></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0">&#160;&#160;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify">The Company&#8217;s notes payable relating to financing
agreements classified as current liabilities consist of the following as of March 31, 2025 and December 31, 2024:</P>

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  <TR STYLE="vertical-align: bottom">
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    <TD COLSPAN="2" STYLE="text-align: right">&#160;</TD><TD>&#160;</TD><TD>&#160;</TD>
    <TD COLSPAN="2" STYLE="text-align: right">&#160;</TD><TD>&#160;</TD><TD>&#160;</TD>
    <TD COLSPAN="2" STYLE="text-align: right">&#160;</TD><TD>&#160;</TD><TD>&#160;</TD>
    <TD COLSPAN="2" STYLE="text-align: right">&#160;</TD><TD>&#160;</TD></TR>
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    <TD COLSPAN="6" STYLE="border-bottom: Black 1pt solid; font: bold 8pt Times New Roman, Times, Serif; text-align: center">March 31, 2025</TD><TD STYLE="font: bold 8pt Times New Roman, Times, Serif; padding-bottom: 1pt">&#160;</TD><TD STYLE="font: bold 8pt Times New Roman, Times, Serif; padding-bottom: 1pt">&#160;</TD>
    <TD COLSPAN="6" STYLE="border-bottom: Black 1pt solid; font: bold 8pt Times New Roman, Times, Serif; text-align: center">December 31, 2024</TD><TD STYLE="font: bold 8pt Times New Roman, Times, Serif; padding-bottom: 1pt">&#160;</TD></TR>
  <TR STYLE="vertical-align: bottom">
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  <TR STYLE="vertical-align: bottom">
    <TD>&#160;</TD><TD>&#160;</TD>
    <TD COLSPAN="2">&#160;</TD><TD>&#160;</TD><TD>&#160;</TD>
    <TD COLSPAN="2">&#160;</TD><TD>&#160;</TD><TD>&#160;</TD>
    <TD COLSPAN="2">&#160;</TD><TD>&#160;</TD><TD>&#160;</TD>
    <TD COLSPAN="2">&#160;</TD><TD>&#160;</TD></TR>
  <TR STYLE="vertical-align: bottom; background-color: rgb(204,238,255)">
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    <TD STYLE="font: 10pt Times New Roman, Times, Serif; width: 1%; text-align: left">$</TD><TD STYLE="font: 10pt Times New Roman, Times, Serif; width: 10%; text-align: right"><FONT ID="xdx_90F_eus-gaap--OtherNotesPayableCurrent_c20250331__us-gaap--ShortTermDebtTypeAxis__custom--ThirdPartyInsuranceNoteOneMember_pp0p0" TITLE="Notes payable, Principal">&#8212;</FONT></TD><TD STYLE="font: 10pt Times New Roman, Times, Serif; width: 1%; text-align: left">&#160;</TD><TD STYLE="font: 10pt Times New Roman, Times, Serif; width: 1%">&#160;</TD>
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  <TR STYLE="vertical-align: bottom; background-color: White">
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    <TD STYLE="font: 10pt Times New Roman, Times, Serif; text-align: left">&#160;</TD><TD STYLE="font: 10pt Times New Roman, Times, Serif; text-align: right"><FONT ID="xdx_905_eus-gaap--OtherNotesPayableCurrent_c20250331__us-gaap--ShortTermDebtTypeAxis__custom--ThirdPartyInsuranceNoteTwoMember_pp0p0" TITLE="Notes payable, Principal">&#8212;</FONT></TD><TD STYLE="font: 10pt Times New Roman, Times, Serif; text-align: left">&#160;</TD><TD STYLE="font: 10pt Times New Roman, Times, Serif">&#160;</TD>
    <TD STYLE="font: 10pt Times New Roman, Times, Serif; text-align: left">&#160;</TD><TD STYLE="font: 10pt Times New Roman, Times, Serif; text-align: right">&#8212;</TD><TD STYLE="font: 10pt Times New Roman, Times, Serif; text-align: left">&#160;</TD><TD STYLE="font: 10pt Times New Roman, Times, Serif">&#160;</TD>
    <TD STYLE="font: 10pt Times New Roman, Times, Serif; text-align: left">&#160;</TD><TD ID="xdx_98E_eus-gaap--OtherNotesPayableCurrent_iI_pp0p0_c20241231__us-gaap--ShortTermDebtTypeAxis__custom--ThirdPartyInsuranceNoteTwoMember_zW7qY7sLthol" TITLE="Notes payable, Principal" STYLE="font: 10pt Times New Roman, Times, Serif; text-align: right">4,070</TD><TD STYLE="font: 10pt Times New Roman, Times, Serif; text-align: left">&#160;</TD><TD STYLE="font: 10pt Times New Roman, Times, Serif">&#160;</TD>
    <TD STYLE="font: 10pt Times New Roman, Times, Serif; text-align: left">&#160;</TD><TD STYLE="font: 10pt Times New Roman, Times, Serif; text-align: right">&#8212;</TD><TD STYLE="font: 10pt Times New Roman, Times, Serif; text-align: left">&#160;</TD></TR>
  <TR STYLE="vertical-align: bottom; background-color: rgb(204,238,255)">
    <TD STYLE="font: 10pt Times New Roman, Times, Serif; text-align: left; padding-bottom: 1pt">Third Party - Insurance Note 3</TD><TD STYLE="font: 10pt Times New Roman, Times, Serif; padding-bottom: 1pt">&#160;</TD>
    <TD STYLE="border-bottom: Black 1pt solid; font: 10pt Times New Roman, Times, Serif; text-align: left">&#160;</TD><TD ID="xdx_982_eus-gaap--OtherNotesPayableCurrent_iI_pp0p0_c20250331__us-gaap--ShortTermDebtTypeAxis__custom--ThirdPartyInsuranceNoteThreeMember_zjTdFX630T34" TITLE="Notes payable, Principal" STYLE="border-bottom: Black 1pt solid; font: 10pt Times New Roman, Times, Serif; text-align: right">129,914</TD><TD STYLE="font: 10pt Times New Roman, Times, Serif; padding-bottom: 1pt; text-align: left">&#160;</TD><TD STYLE="font-family: Times New Roman, Times, Serif; padding-bottom: 1pt">&#160;</TD>
    <TD STYLE="border-bottom: Black 1pt solid; font-family: Times New Roman, Times, Serif; text-align: left">&#160;</TD><TD STYLE="border-bottom: Black 1pt solid; font-family: Times New Roman, Times, Serif; text-align: right">&#8212;</TD><TD STYLE="padding-bottom: 1pt; font-family: Times New Roman, Times, Serif; text-align: left">&#160;</TD><TD STYLE="font: 10pt Times New Roman, Times, Serif; padding-bottom: 1pt">&#160;</TD>
    <TD STYLE="border-bottom: Black 1pt solid; font: 10pt Times New Roman, Times, Serif; text-align: left">&#160;</TD><TD STYLE="border-bottom: Black 1pt solid; font: 10pt Times New Roman, Times, Serif; text-align: right"><FONT ID="xdx_906_eus-gaap--OtherNotesPayableCurrent_iI_pp0p0_c20241231__us-gaap--ShortTermDebtTypeAxis__custom--ThirdPartyInsuranceNoteThreeMember_zXjMFYy5wur3" TITLE="Notes payable, Principal">&#8212;</FONT></TD><TD STYLE="font: 10pt Times New Roman, Times, Serif; padding-bottom: 1pt; text-align: left">&#160;</TD><TD STYLE="font: 10pt Times New Roman, Times, Serif; padding-bottom: 1pt">&#160;</TD>
    <TD STYLE="border-bottom: Black 1pt solid; font: 10pt Times New Roman, Times, Serif; text-align: left">&#160;</TD><TD STYLE="border-bottom: Black 1pt solid; font: 10pt Times New Roman, Times, Serif; text-align: right">&#8212;</TD><TD STYLE="font: 10pt Times New Roman, Times, Serif; padding-bottom: 1pt; text-align: left">&#160;</TD></TR>
  <TR STYLE="vertical-align: bottom; background-color: White">
    <TD STYLE="font: 10pt Times New Roman, Times, Serif; padding-bottom: 2.5pt">Total</TD><TD STYLE="font: 10pt Times New Roman, Times, Serif; padding-bottom: 2.5pt">&#160;</TD>
    <TD STYLE="border-bottom: Black 2.5pt double; font: 10pt Times New Roman, Times, Serif; text-align: left">$</TD><TD ID="xdx_989_eus-gaap--OtherNotesPayableCurrent_c20250331_pp0p0" TITLE="Notes payable, Principal" STYLE="border-bottom: Black 2.5pt double; font: 10pt Times New Roman, Times, Serif; text-align: right">129,914</TD><TD STYLE="font: 10pt Times New Roman, Times, Serif; padding-bottom: 2.5pt; text-align: left">&#160;</TD><TD STYLE="font-family: Times New Roman, Times, Serif; padding-bottom: 2.5pt">&#160;</TD>
    <TD STYLE="border-bottom: Black 2.5pt double; font-family: Times New Roman, Times, Serif; text-align: left">&#160;</TD><TD STYLE="border-bottom: Black 2.5pt double; font-family: Times New Roman, Times, Serif; text-align: right">&#8212;</TD><TD STYLE="padding-bottom: 2.5pt; font-family: Times New Roman, Times, Serif; text-align: left">&#160;</TD><TD STYLE="font: 10pt Times New Roman, Times, Serif; padding-bottom: 2.5pt">&#160;</TD>
    <TD STYLE="border-bottom: Black 2.5pt double; font: 10pt Times New Roman, Times, Serif; text-align: left">$</TD><TD ID="xdx_98F_eus-gaap--OtherNotesPayableCurrent_iI_pp0p0_c20241231_zzYNPycwnkAl" TITLE="Notes payable, Principal" STYLE="border-bottom: Black 2.5pt double; font: 10pt Times New Roman, Times, Serif; text-align: right">17,072</TD><TD STYLE="font: 10pt Times New Roman, Times, Serif; padding-bottom: 2.5pt; text-align: left">&#160;</TD><TD STYLE="font-family: Times New Roman, Times, Serif; padding-bottom: 2.5pt">&#160;</TD>
    <TD STYLE="border-bottom: Black 2.5pt double; font-family: Times New Roman, Times, Serif; text-align: left">&#160;</TD><TD STYLE="border-bottom: Black 2.5pt double; font-family: Times New Roman, Times, Serif; text-align: right">&#8212;</TD><TD STYLE="padding-bottom: 2.5pt; font-family: Times New Roman, Times, Serif; text-align: left">&#160;</TD></TR>
  </TABLE>

<P ID="xdx_8AF_z1NNU1omXY0c" STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify">&#160;&#160;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify">The Company entered into an agreement on April
15, 2024 with its insurance provider by issuing a note payable (Insurance Note 1) for the purchase of an insurance policy in the
amount of $<FONT ID="xdx_90D_ecustom--PurchaseOfInsurancePolicy_pp0p0_c20240414__20240415__us-gaap--ShortTermDebtTypeAxis__custom--ThirdPartyInsuranceNoteOneMember_zpXZnN9gOUx9" TITLE="Purchase of insurance policy">154,338</FONT>,
secured by that policy with an annual interest rate of <FONT ID="xdx_90C_eus-gaap--DerivativeFixedInterestRate_iI_c20240415__us-gaap--ShortTermDebtTypeAxis__custom--ThirdPartyInsuranceNoteOneMember_zG9gL6ic2fK9" TITLE="Annual interest rate">8.25%</FONT>
and payable in 10 monthly installments of principal and interest totaling $<FONT ID="xdx_908_eus-gaap--DebtInstrumentPeriodicPayment_pp0p0_c20240414__20240415__us-gaap--ShortTermDebtTypeAxis__custom--ThirdPartyInsuranceNoteOneMember_zqktBkOR68Lh" TITLE="Monthly installments">16,023</FONT>.
At March 31, 2025 and December 31, 2024, the balance of Insurance Note 1 was zero <FONT ID="xdx_904_eus-gaap--NotesPayable_c20250331__us-gaap--ShortTermDebtTypeAxis__custom--ThirdPartyInsuranceNoteOneMember_pp0p0" TITLE="Notes payable" STYLE="display: none">0</FONT> and $<FONT ID="xdx_905_eus-gaap--NotesPayable_iI_pp0p0_c20241231__us-gaap--ShortTermDebtTypeAxis__custom--ThirdPartyInsuranceNoteOneMember_zb22TeVxeuKf" TITLE="Notes payable">13,002</FONT>, respectively.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify">&#160;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify">The Company renewed its agreement on February
3, 2024 with its insurance provider by issuing a note payable (Insurance Note 2) for the purchase of an insurance policy in the amount
of $24,480, and payable in 12 monthly installments of $2,040. At March 31, 2025 and December 31, 2024, the balance of Insurance Note 2
was zero <FONT ID="xdx_90A_eus-gaap--NotesPayable_c20250331__us-gaap--ShortTermDebtTypeAxis__custom--ThirdPartyInsuranceNoteTwoMember_pp0p0" TITLE="Notes payable" STYLE="display: none">0</FONT> and $<FONT ID="xdx_90D_eus-gaap--NotesPayable_iI_pp0p0_c20241231__us-gaap--ShortTermDebtTypeAxis__custom--ThirdPartyInsuranceNoteTwoMember_zFkhIGZNWtHc" TITLE="Notes payable">4,070</FONT>, respectively.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify">&#160;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify">The Company entered into an agreement on February
3, 2024 with its insurance provider by issuing a note payable (Insurance Note 3) for the purchase of an insurance policy in the amount
of $<FONT ID="xdx_907_ecustom--PurchaseOfInsurancePolicy_pp0p0_c20240201__20240203__us-gaap--ShortTermDebtTypeAxis__custom--ThirdPartyInsuranceNoteThreeMember_zjppxMOgluwh" TITLE="Purchase of insurance policy">245,798</FONT> with a down payment paid in the amount of $<FONT ID="xdx_907_ecustom--DownPaymentPaid_pp0p0_c20240201__20240203__us-gaap--ShortTermDebtTypeAxis__custom--ThirdPartyInsuranceNoteThreeMember_zYTOXvNDi5w5" TITLE="Down payment paid">84,473</FONT> in the first quarter of 2024 and ten monthly installments of $20,169. The
Company renewed its agreement on February 3, 2025 with its insurance provider by issuing a note payable (Insurance Note 3) for the purchase
of an insurance policy in the amount of $<FONT ID="xdx_902_ecustom--PurchaseOfInsurancePolicy_pp0p0_c20250201__20250203__us-gaap--ShortTermDebtTypeAxis__custom--ThirdPartyInsuranceNoteThreeMember_zDhgyuW6JEJ3" TITLE="Purchase of insurance policy">249,448</FONT> with a down payment paid in the amount of $<FONT ID="xdx_90B_ecustom--DownPaymentPaid_pp0p0_c20250201__20250203__us-gaap--ShortTermDebtTypeAxis__custom--ThirdPartyInsuranceNoteThreeMember_zA1DXn3e1q91" TITLE="Down payment paid">119,535</FONT> in the first quarter of 2025 and seven
monthly installments of $<FONT ID="xdx_904_eus-gaap--DebtInstrumentPeriodicPayment_pp0p0_c20250201__20250203__us-gaap--ShortTermDebtTypeAxis__custom--ThirdPartyInsuranceNoteThreeMember_zvM3GPyIe2N4" TITLE="Monthly installments">18,559</FONT>. At March 31, 2025 and December 31, 2024, the balance of Insurance Note 3 was $<FONT ID="xdx_90F_eus-gaap--NotesPayable_c20250331__us-gaap--ShortTermDebtTypeAxis__custom--ThirdPartyInsuranceNoteThreeMember_pp0p0" TITLE="Notes payable">129,914</FONT> and $<FONT ID="xdx_90E_eus-gaap--NotesPayable_iI_pp0p0_c20241231__us-gaap--ShortTermDebtTypeAxis__custom--ThirdPartyInsuranceNoteThreeMember_zOndmlzvSuNc" TITLE="Notes payable">0</FONT>, respectively.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0"><B>&#160;</B></P>



<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify"><B><FONT STYLE="text-decoration: underline">Notes Payable, Related Parties</FONT></B></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify">&#160;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify">On July 22, 2024, the Company and Duos Edge entered
into secured promissory notes (the &#8220;Notes&#8221;) with two institutional investors in the Company, 21 April Fund LP and 21 April
Fund Ltd. These investors own more than <FONT ID="xdx_905_eus-gaap--DebtInstrumentInterestRateStatedPercentage_iI_c20240722__us-gaap--LongtermDebtTypeAxis__custom--SecuredPromissoryNotesMember__srt--CounterpartyNameAxis__custom--N21AprilFundLPMember_ztVRG1h9FCxi" TITLE="Interest rate">10%</FONT> of the outstanding shares and are therefore considered related parties. The principal amounts
of the Notes are $<FONT ID="xdx_902_eus-gaap--DebtInstrumentFaceAmount_iI_pp0p0_c20240722__us-gaap--LongtermDebtTypeAxis__custom--SecuredPromissoryNotesMember__srt--CounterpartyNameAxis__custom--N21AprilFundLPMember_zl8Nb8DTFVEk" TITLE="Principal amounts">1,520,000</FONT> for the Note issued to 21 April Fund Ltd. and $<FONT ID="xdx_903_eus-gaap--DebtInstrumentFaceAmount_iI_pp0p0_c20240722__us-gaap--LongtermDebtTypeAxis__custom--SecuredPromissoryNotesMember__srt--CounterpartyNameAxis__custom--N21AprilFundLtdMember_z4IdPGnB5gO2" TITLE="Principal amounts">680,000</FONT> for the Note issued to 21 April Fund LP. The Notes
bear interest at an annual rate of <FONT ID="xdx_902_eus-gaap--DebtInstrumentInterestRateStatedPercentage_iI_c20240722__us-gaap--LongtermDebtTypeAxis__custom--SecuredPromissoryNotesMember__srt--CounterpartyNameAxis__custom--N21AprilFundLtdMember_z9Nw03RO73N" TITLE="Interest rate">10%</FONT> and the principal and any accrued interest on the Notes are due on <FONT ID="xdx_908_eus-gaap--DebtInstrumentMaturityDate_dd_c20240701__20240722__us-gaap--LongtermDebtTypeAxis__custom--SecuredPromissoryNotesMember__srt--CounterpartyNameAxis__custom--N21AprilFundLPMember_zVpS1cmStwh" TITLE="Maturity date"><FONT ID="xdx_90D_eus-gaap--DebtInstrumentMaturityDate_dd_c20240701__20240722__us-gaap--LongtermDebtTypeAxis__custom--SecuredPromissoryNotesMember__srt--CounterpartyNameAxis__custom--N21AprilFundLtdMember_zFRPYbhMHnd1" TITLE="Maturity date">December 30, 2025</FONT></FONT>. The Company
has guaranteed all of Duos Edge&#8217;s obligations pursuant to the Notes.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify">&#160;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify">As security for the Notes, Duos Edge AI granted a
first priority security interest in the equipment installed, as well as all revenues from such equipment and the Company pledged all proceeds
from the sale of shares of Common Stock under its ATM facility. All of the pledged revenues from the equipment and the ATM facility were
deposited in a blocked account and used solely to repay the Notes until they are repaid in full. In November 2024, the Company obtained
the lenders&#8217; consent waiving the requirement to deposit ATM proceeds in a separate blocked account and to utilize the ATM proceeds
for general corporate purposes, provided that any such amounts must be deposited in the blocked account on or prior to December 1, 2025.
The Notes may be prepaid without any prepayment penalties, provided that any prepayments shall be made proportionately to each Note.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify"><B>&#160;</B></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify">This transaction is accounted for in accordance with
ASC 470, which provides guidance on the accounting for debt and debt modifications. The Company is in compliance with all covenants and
conditions associated with the Notes as of March 31, 2025.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify">&#160;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify">As of March 31, 2025, the carrying amount of the Notes
is classified as a current liability on the Company's consolidated balance sheet. The Company accrued interest of $<FONT ID="xdx_906_eus-gaap--InterestPayableCurrent_c20250331__us-gaap--LongtermDebtTypeAxis__custom--SecuredPromissoryNotesMember_pp0p0" TITLE="Accrued interest">148,246</FONT> as of March
31, 2025 with regard to the Notes which is included in accrued expenses in the accompanying consolidated balance sheet.</P>

<P ID="xdx_238_z4xFuCNdTK27" STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify">&#160;</P>

<P ID="xdx_231_z7U8HDJ34HC9" STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify">&#160;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify"></P>

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    <DIV STYLE="break-before: page; margin-top: 6pt"><TABLE CELLPADDING="0" CELLSPACING="0" ID="xdx_23F_zYweEJpqrrHb" STYLE="width: 100%"><TR><TD STYLE="text-align: center; width: 100%"><P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: center"><B>DUOS TECHNOLOGIES GROUP, INC. AND SUBSIDIARIES</B></P><P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: center"><B>CONDENSED NOTES TO THE CONSOLIDATED FINANCIAL STATEMENTS</B></P><P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: center"><B>March 31, 2025</B></P><P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: center"><B>(Unaudited)</B></P>&#160;</TD></TR></TABLE></DIV>
    <!-- Field: /Page -->

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify">&#160;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify">In connection with the Notes, the Company issued
warrants to purchase <FONT ID="xdx_90F_eus-gaap--ClassOfWarrantOrRightNumberOfSecuritiesCalledByEachWarrantOrRight_iI_c20240722__us-gaap--LongtermDebtTypeAxis__custom--SecuredPromissoryNotesMember__srt--CounterpartyNameAxis__custom--N21AprilFundLPMember_zyMkcn7xPr5g" TITLE="Warrants purchase">92,727</FONT>
shares of Common Stock to 21 April Fund LP and <FONT ID="xdx_903_eus-gaap--ClassOfWarrantOrRightNumberOfSecuritiesCalledByEachWarrantOrRight_iI_c20240722__us-gaap--LongtermDebtTypeAxis__custom--SecuredPromissoryNotesMember__srt--CounterpartyNameAxis__custom--N21AprilFundLtdMember_zsu98chvkvGh" TITLE="Warrants purchase">207,273</FONT>
shares of Common Stock to 21 April Fund Ltd. The warrants had an exercise price of $<FONT ID="xdx_909_eus-gaap--ClassOfWarrantOrRightExercisePriceOfWarrantsOrRights1_iI_c20240722__us-gaap--LongtermDebtTypeAxis__custom--SecuredPromissoryNotesMember__srt--CounterpartyNameAxis__custom--N21AprilFundLPMember_zyofFaBecNpj" TITLE="Warrants exercisable per share"><FONT ID="xdx_90A_eus-gaap--ClassOfWarrantOrRightExercisePriceOfWarrantsOrRights1_iI_c20240722__us-gaap--LongtermDebtTypeAxis__custom--SecuredPromissoryNotesMember__srt--CounterpartyNameAxis__custom--N21AprilFundLtdMember_zxsEkvcf38Sl" TITLE="Warrants exercisable per share">3.00</FONT></FONT>
and were exercisable at any time on or prior to the close of business on the five <FONT ID="xdx_900_eus-gaap--WarrantsAndRightsOutstandingTerm_iI_dtY_c20240722__us-gaap--LongtermDebtTypeAxis__custom--SecuredPromissoryNotesMember__srt--CounterpartyNameAxis__custom--N21AprilFundLPMember_zhLNkYfNAs66" TITLE="Warrant term"><FONT ID="xdx_90F_eus-gaap--WarrantsAndRightsOutstandingTerm_iI_dtY_c20240722__us-gaap--LongtermDebtTypeAxis__custom--SecuredPromissoryNotesMember__srt--CounterpartyNameAxis__custom--N21AprilFundLtdMember_zy7bLEbLTnbk" TITLE="Warrant term" STYLE="display: none">5</FONT></FONT>
-year anniversary of the original issuance date of July 22, 2024. The warrants contained a fundamental transaction provision whereby
the Company might have to make a cash payment to the warrant holder on a fundamental transaction trigger date. Accordingly, the
warrants met the criteria to be accounted for as a derivative liability instrument.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify">&#160;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify">The above warrants and the previously held <FONT ID="xdx_909_ecustom--WarrantExercised_c20240901__20240919__us-gaap--LongtermDebtTypeAxis__custom--SecuredPromissoryNotesMember_zitPAJkcSGwc" TITLE="Warrant exercised">44,644</FONT>
warrants were exercised by 21 April Fund LP and 21 April Fund Ltd. on September 19, 2024 and the Company issued an aggregate of <FONT ID="xdx_900_eus-gaap--ClassOfWarrantOrRightNumberOfSecuritiesCalledByEachWarrantOrRight_iI_c20240919__us-gaap--LongtermDebtTypeAxis__custom--SecuredPromissoryNotesMember_zCxHRLJG60H5" TITLE="Warrants purchase">344,644</FONT>
shares of Common Stock. In connection with such exercise, the parties agreed to reduce the exercise price of the warrants to $<FONT ID="xdx_90E_eus-gaap--ClassOfWarrantOrRightExercisePriceOfWarrantsOrRights1_iI_c20240919__us-gaap--LongtermDebtTypeAxis__custom--SecuredPromissoryNotesMember_zCHCDyI5HFZ" TITLE="Warrants exercisable per share">2.61</FONT> per
share and to remove any &#8220;blocker&#8221; or similar provisions in the warrants.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify">&#160;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify">The warrant liability value was measured using a Monte
Carlo simulation valuation method. The initial warrant liability valuation on the loan date was $<FONT ID="xdx_901_ecustom--FairValueOfWarrant_iI_pp0p0_c20240722__us-gaap--LongtermDebtTypeAxis__custom--SecuredPromissoryNotesMember_zlbetaZz6WBa" TITLE="Fair value of warrant">625,606</FONT> which was recorded as a debt
discount and initial warrant liability. The warrant liability on September 19, 2024 was $<FONT ID="xdx_907_ecustom--FairValueOfWarrant_iI_pp0p0_c20240919__us-gaap--LongtermDebtTypeAxis__custom--SecuredPromissoryNotesMember_zjPA9EHaW6K8" TITLE="Fair value of warrant">379,626</FONT> with a change in fair value recorded
in other income/expense from the initial recording date through September 30, 2024 of $<FONT ID="xdx_903_eus-gaap--AmortizationOfDebtDiscountPremium_pp0p0_c20250101__20250331_zngcQmp7dBSb" TITLE="Amortization of debt discount">245,980</FONT>. The debt discount is being amortized over
the term of the Notes.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify">&#160;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify">On September 19, 2024, the warrant exercise date,
the Company eliminated the warrant liability and recognized a gain on the extinguishment of the warrants in the amount $<FONT ID="xdx_907_eus-gaap--GainsLossesOnExtinguishmentOfDebt_c20250101__20250331_pp0p0" TITLE="Gain on extinguishment of warrant liabilities">379,626</FONT>.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify">&#160;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify">The Company made early payments in the amount of $1,000,000
in the three months ended March 31, 2025.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify">&#160;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify">The promissory Notes Payable at March 31, 2025 and
December 31, 2024 were as follows:</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify"></P>

<TABLE CELLPADDING="0" CELLSPACING="0" ID="xdx_895_ecustom--ScheduleOfPromissoryNotesPayableTableTextBlock_zeb9vnQjkYBb" SUMMARY="xdx: Disclosure - DEBT (Details - Promissory Notes Payable)" STYLE="font: 12pt Arial, Helvetica, Sans-Serif; border-collapse: collapse; width: 100%">
  <TR STYLE="vertical-align: bottom">
    <TD ID="xdx_8B5_zHkyQpp7Onkh"><FONT STYLE="display: none; font-size: 8pt">&#160;Schedule of promissory notes payable</FONT></TD><TD><FONT STYLE="font-size: 8pt">&#160;</FONT></TD>
    <TD COLSPAN="2" ID="xdx_493_20250331_zrfkZVZyx8Ub" STYLE="text-align: center"><FONT STYLE="font-size: 8pt">&#160;</FONT></TD><TD><FONT STYLE="font-size: 8pt">&#160;</FONT></TD><TD><FONT STYLE="font-size: 8pt">&#160;</FONT></TD>
    <TD COLSPAN="2" ID="xdx_49A_20241231_zB2CQHrFChQe" STYLE="text-align: center"><FONT STYLE="font-size: 8pt">&#160;</FONT></TD><TD><FONT STYLE="font-size: 8pt">&#160;</FONT></TD></TR>
  <TR STYLE="vertical-align: bottom">
    <TD><FONT STYLE="font-size: 8pt">&#160;</FONT></TD><TD STYLE="font: bold 10pt Times New Roman, Times, Serif"><FONT STYLE="font-size: 8pt">&#160;</FONT></TD>
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  <TR STYLE="vertical-align: bottom">
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  <TR ID="xdx_40E_eus-gaap--NotesPayable_iI_pp0p0_zqABgsMaW9Tb" STYLE="vertical-align: bottom; background-color: rgb(204,238,255)">
    <TD STYLE="font: 10pt Times New Roman, Times, Serif; width: 66%; text-align: left; padding-left: 5.4pt">Notes Payable</TD><TD STYLE="font: 10pt Times New Roman, Times, Serif; width: 1%">&#160;</TD>
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  <TR ID="xdx_406_eus-gaap--DebtInstrumentUnamortizedDiscountNoncurrent_iNI_pp0p0_di_ze93Vm14fOWa" STYLE="vertical-align: bottom; background-color: White">
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  <TR ID="xdx_40F_eus-gaap--LongTermNotesPayable_iI_pp0p0_z3jMU2LkVru7" STYLE="vertical-align: bottom; background-color: rgb(204,238,255)">
    <TD STYLE="font: 10pt Times New Roman, Times, Serif; text-align: left; padding-bottom: 2.5pt; padding-left: 5.4pt">Notes Payable, net</TD><TD STYLE="font: 10pt Times New Roman, Times, Serif; padding-bottom: 2.5pt">&#160;</TD>
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  </TABLE>



<P ID="xdx_8A9_zpJbWR3d3mGf" STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify">&#160;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify">Amortization of the discount from the Note for
the three months ended March 31, 2025 was $<FONT ID="xdx_907_eus-gaap--AmortizationOfDebtDiscountPremium_pp0p0_c20250101__20250331__us-gaap--LongtermDebtTypeAxis__custom--PromissoryNotesPayableMember_zv9J5IpLspQh" TITLE="Amortization of debt discount">269,311</FONT>
which is included in interest expense.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify"></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify">&#160;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify">The Company used the following assumptions in determining
the fair value of the warrant liabilities:</P>

<TABLE CELLPADDING="0" CELLSPACING="0" ID="xdx_89A_eus-gaap--ScheduleOfVariableInterestEntitiesTextBlock_zlxOogas0vdc" SUMMARY="xdx: Disclosure - DEBT (Details - Assumptions in determining the fair value of the warrant liabilities)" STYLE="font: 11pt Arial, Helvetica, Sans-Serif; border-collapse: collapse; width: 100%">
  <TR STYLE="vertical-align: bottom">
    <TD ID="xdx_8BE_zo5wusUZuXU8" STYLE="display: none">&#160;Schedule of assumptions in determining</TD><TD>&#160;</TD>
    <TD COLSPAN="2">&#160;</TD><TD>&#160;</TD><TD>&#160;</TD>
    <TD COLSPAN="2">&#160;</TD><TD>&#160;</TD><TD>&#160;</TD>
    <TD COLSPAN="2">&#160;</TD><TD>&#160;</TD><TD>&#160;</TD>
    <TD COLSPAN="2">&#160;</TD><TD>&#160;</TD></TR>
  <TR STYLE="vertical-align: bottom">
    <TD>&#160;</TD><TD STYLE="font: bold 8pt Times New Roman, Times, Serif; padding-bottom: 1pt">&#160;</TD>
    <TD COLSPAN="6" STYLE="border-bottom: Black 1pt solid; font: bold 8pt Times New Roman, Times, Serif; text-align: center">Upon Grant</TD><TD STYLE="font: bold 8pt Times New Roman, Times, Serif; padding-bottom: 1pt">&#160;</TD><TD STYLE="font: bold 8pt Times New Roman, Times, Serif; padding-bottom: 1pt">&#160;</TD>
    <TD COLSPAN="6" STYLE="border-bottom: Black 1pt solid; font: bold 8pt Times New Roman, Times, Serif; text-align: center">Upon Exercise</TD><TD STYLE="font: bold 8pt Times New Roman, Times, Serif; padding-bottom: 1pt">&#160;</TD></TR>
  <TR STYLE="vertical-align: bottom">
    <TD STYLE="text-align: center">&#160;</TD><TD STYLE="font: bold 8pt Times New Roman, Times, Serif; padding-bottom: 1pt">&#160;</TD>
    <TD COLSPAN="2" STYLE="border-bottom: Black 1pt solid; font: bold 8pt Times New Roman, Times, Serif; text-align: center">21 April Fund LP</TD><TD STYLE="font: bold 8pt Times New Roman, Times, Serif; padding-bottom: 1pt">&#160;</TD><TD STYLE="font: bold 8pt Times New Roman, Times, Serif; padding-bottom: 1pt">&#160;</TD>
    <TD COLSPAN="2" STYLE="border-bottom: Black 1pt solid; font: bold 8pt Times New Roman, Times, Serif; text-align: center">21 April Fund Ltd</TD><TD STYLE="font: bold 8pt Times New Roman, Times, Serif; padding-bottom: 1pt">&#160;</TD><TD STYLE="font: bold 8pt Times New Roman, Times, Serif; padding-bottom: 1pt">&#160;</TD>
    <TD COLSPAN="2" STYLE="border-bottom: Black 1pt solid; font: bold 8pt Times New Roman, Times, Serif; text-align: center">21 April Fund LP</TD><TD STYLE="font: bold 8pt Times New Roman, Times, Serif; padding-bottom: 1pt">&#160;</TD><TD STYLE="font: bold 8pt Times New Roman, Times, Serif; padding-bottom: 1pt">&#160;</TD>
    <TD COLSPAN="2" STYLE="border-bottom: Black 1pt solid; font: bold 8pt Times New Roman, Times, Serif; text-align: center">21 April Fund Ltd</TD><TD STYLE="font: bold 8pt Times New Roman, Times, Serif; padding-bottom: 1pt">&#160;</TD></TR>
  <TR STYLE="vertical-align: bottom">
    <TD STYLE="border-bottom: Black 1pt solid; font: bold 8pt Times New Roman, Times, Serif">Date of Grant (Exercise)</TD><TD STYLE="font: bold 8pt Times New Roman, Times, Serif; padding-bottom: 1pt">&#160;</TD>
    <TD COLSPAN="2" STYLE="border-bottom: Black 1pt solid; font: bold 8pt Times New Roman, Times, Serif; text-align: center">July 22, 2024</TD><TD STYLE="font: bold 8pt Times New Roman, Times, Serif; padding-bottom: 1pt">&#160;</TD><TD STYLE="font: bold 8pt Times New Roman, Times, Serif; padding-bottom: 1pt">&#160;</TD>
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  <TR STYLE="vertical-align: bottom; background-color: rgb(204,238,255)">
    <TD STYLE="font: 10pt Times New Roman, Times, Serif">Note Value</TD><TD STYLE="font: 10pt Times New Roman, Times, Serif">&#160;</TD>
    <TD STYLE="font: 10pt Times New Roman, Times, Serif; vertical-align: top; text-align: left">$</TD>
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    <TD STYLE="font: 10pt Times New Roman, Times, Serif; vertical-align: top; text-align: left">$</TD>
    <TD STYLE="font: 10pt Times New Roman, Times, Serif; text-align: right"><FONT ID="xdx_905_eus-gaap--NotesPayable_c20250331__us-gaap--ClassOfWarrantOrRightAxis__custom--UponGrantMember__srt--CounterpartyNameAxis__custom--N21AprilFundLtdMember_pp0p0" TITLE="Note Value">&#8212;</FONT></TD><TD STYLE="font: 10pt Times New Roman, Times, Serif">&#160;</TD><TD STYLE="font: 10pt Times New Roman, Times, Serif">&#160;</TD>
    <TD STYLE="font: 10pt Times New Roman, Times, Serif; vertical-align: top; text-align: left">$</TD>
    <TD STYLE="font: 10pt Times New Roman, Times, Serif; text-align: right"><FONT ID="xdx_90D_eus-gaap--NotesPayable_c20250331__us-gaap--ClassOfWarrantOrRightAxis__custom--UponExerciseMember__srt--CounterpartyNameAxis__custom--N21AprilFundLPMember_pp0p0" TITLE="Note Value">&#8212;</FONT></TD><TD STYLE="font: 10pt Times New Roman, Times, Serif">&#160;</TD><TD STYLE="font: 10pt Times New Roman, Times, Serif">&#160;</TD>
    <TD STYLE="font: 10pt Times New Roman, Times, Serif; vertical-align: top; text-align: left">$</TD>
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  <TR STYLE="vertical-align: bottom; background-color: White">
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    <TD STYLE="font: 10pt Times New Roman, Times, Serif; width: 1%; text-align: left">$</TD><TD ID="xdx_988_eus-gaap--SharePrice_c20250331__us-gaap--ClassOfWarrantOrRightAxis__custom--UponGrantMember__srt--CounterpartyNameAxis__custom--N21AprilFundLPMember_pdd" TITLE="Issue (Exercise) Stock Price" STYLE="font: 10pt Times New Roman, Times, Serif; width: 10%; text-align: right">2.77</TD><TD STYLE="font: 10pt Times New Roman, Times, Serif; width: 1%; text-align: left">&#160;</TD><TD STYLE="font: 10pt Times New Roman, Times, Serif; width: 1%">&#160;</TD>
    <TD STYLE="font: 10pt Times New Roman, Times, Serif; width: 1%; text-align: left">$</TD><TD ID="xdx_986_eus-gaap--SharePrice_c20250331__us-gaap--ClassOfWarrantOrRightAxis__custom--UponGrantMember__srt--CounterpartyNameAxis__custom--N21AprilFundLtdMember_pdd" TITLE="Issue (Exercise) Stock Price" STYLE="font: 10pt Times New Roman, Times, Serif; width: 10%; text-align: right">2.77</TD><TD STYLE="font: 10pt Times New Roman, Times, Serif; width: 1%; text-align: left">&#160;</TD><TD STYLE="font: 10pt Times New Roman, Times, Serif; width: 1%">&#160;</TD>
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    <TD STYLE="font: 10pt Times New Roman, Times, Serif; width: 1%; text-align: left">$</TD><TD ID="xdx_981_eus-gaap--SharePrice_c20250331__us-gaap--ClassOfWarrantOrRightAxis__custom--UponExerciseMember__srt--CounterpartyNameAxis__custom--N21AprilFundLtdMember_pdd" TITLE="Issue (Exercise) Stock Price" STYLE="font: 10pt Times New Roman, Times, Serif; width: 10%; text-align: right">2.49</TD><TD STYLE="font: 10pt Times New Roman, Times, Serif; width: 1%; text-align: left">&#160;</TD></TR>
  <TR STYLE="vertical-align: bottom; background-color: rgb(204,238,255)">
    <TD STYLE="font: 10pt Times New Roman, Times, Serif">Strike</TD><TD STYLE="font: 10pt Times New Roman, Times, Serif">&#160;</TD>
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  </TABLE>

<P ID="xdx_8AB_zrWc5AZQirsf" STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0"><B>&#160;</B></P>

<P ID="xdx_231_z5gBEx3OVsb2" STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0">&#160;</P>

<P ID="xdx_234_zDiuCkEfjcrb" STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0"></P>

<!-- Field: Page; Sequence: 141 -->
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    <!-- Field: /Page -->

<P ID="xdx_232_zeauUDP0XaCh" STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0">&#160;</P>

<P ID="xdx_803_eus-gaap--CommitmentsAndContingenciesDisclosureTextBlock_zqZ1IYHwentf" STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0"><B>NOTE 8 &#8211;<FONT ID="xdx_825_zZPt0rGQ0cJ"> COMMITMENTS AND CONTINGENCIES</FONT></B></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0"><B>&#160;</B></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0"><B><FONT STYLE="text-decoration: underline">Operating Lease Obligations </FONT></B></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify"><B>&#160;</B></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify">On July 26, 2021, the Company entered a new operating
lease agreement for office and warehouse combination space of <FONT ID="xdx_908_ecustom--AreaOfLease_usqft_c20210725__20210726__us-gaap--MajorPropertyClassAxis__us-gaap--PropertyAvailableForOperatingLeaseMember_z67uQteCXhBl" TITLE="Area of lease">40,000</FONT> square feet, with the lease commencing on November 1, 2021, and ending
April 30, 2032. This new space combines the Company&#8217;s two separate work locations into one facility, which allows for greater collaboration
and also accommodates a larger anticipated workforce and manufacturing facility. On November 24, 2021, the lease was amended to commence
on December 1, 2021, and end on May 31, 2032. The Company recognized a ROU asset and operating lease liability in the amount of $<FONT ID="xdx_90A_eus-gaap--OperatingLeaseLiability_iI_pp0p0_c20210726__us-gaap--MajorPropertyClassAxis__us-gaap--PropertyAvailableForOperatingLeaseMember_zQ9d2FZb7Uub" TITLE="Operating lease liability">4,980,104</FONT>
at lease commencement. Rent for the first eleven months of the term was calculated based on <FONT ID="xdx_90B_ecustom--RentableSpace_usqft_c20210725__20210726__us-gaap--MajorPropertyClassAxis__us-gaap--PropertyAvailableForOperatingLeaseMember_zruz8fqeB6Td" TITLE="Rentable space">30,000</FONT> rentable square feet. The rent is subject
to an annual escalation of 2.5%, beginning November 1, 2023. The Company made a security deposit payment in the amount of $<FONT ID="xdx_909_eus-gaap--SecurityDepositLiability_iI_pp0p0_c20210726__us-gaap--MajorPropertyClassAxis__us-gaap--PropertyAvailableForOperatingLeaseMember_zlIPYNpw04C7" TITLE="Security deposit payment">600,000</FONT> on
July 26, 2021. Per the contract, in the 18<SUP>th</SUP> month and every 12th month thereafter, the security deposit is reduced by $50,000
and now stands at $<FONT ID="xdx_90F_eus-gaap--SecurityDeposit_iI_pp0p0_c20210726__us-gaap--MajorPropertyClassAxis__us-gaap--PropertyAvailableForOperatingLeaseMember_zba7Flh9rm4h" TITLE="Security deposit value">500,000</FONT>. The right of use asset balance at March 31, 2025, net of accumulated amortization, was $<FONT ID="xdx_90B_eus-gaap--OperatingLeaseRightOfUseAsset_iI_pp0p0_c20250331__us-gaap--MajorPropertyClassAxis__us-gaap--PropertyAvailableForOperatingLeaseMember_zHp6d3VjQ0Wg" TITLE="Operating lease right of use asset">3,937,256</FONT>.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify">&#160;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify">As of March 31, 2025, the office and warehouse lease
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<FONT ID="xdx_90E_eus-gaap--LesseeOperatingLeaseRemainingLeaseTerm_iI_dtY_c20250331__us-gaap--MajorPropertyClassAxis__us-gaap--PropertyAvailableForOperatingLeaseMember_zOMnGgdBorz3" TITLE="Lease term">7.25</FONT> years and includes an option to extend for two renewal terms of five years each. The renewal options are not reasonably certain to
be exercised, and therefore, they are not included when determining the lease term used to establish the right-of-use asset and lease
liability. The Company also has several short-term leases, primarily related to equipment. The Company made an accounting policy election
to not recognize short-term leases with terms of twelve months or less on the consolidated balance sheet and instead recognize the lease
payments in expense as incurred. The Company has also elected to account for real estate leases that contain both lease and non-lease
components (such as common area maintenance) as a single lease component.&#160;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify">&#160;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify">The following table shows supplemental information
related to leases:</P>

<TABLE CELLSPACING="0" CELLPADDING="0" SUMMARY="xdx: Disclosure - COMMITMENTS AND CONTINGENCIES (Details - Supplemental information related to leases)" ID="xdx_895_ecustom--ScheduleOfSupplementalInformationRelatedLeasesTableTextBlock_hus-gaap--MajorPropertyClassAxis__us-gaap--PropertySubjectToOperatingLeaseMember_zRjHNKDXxUXk" STYLE="font: 11pt Arial, Helvetica, Sans-Serif; width: 100%; border-collapse: collapse">
  <TR STYLE="vertical-align: bottom">
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    <TD>&#160;</TD>
    <TD COLSPAN="2" STYLE="text-align: right">&#160;</TD>
    <TD>&#160;</TD>
    <TD>&#160;</TD>
    <TD COLSPAN="2" STYLE="text-align: right">&#160;</TD>
    <TD>&#160;</TD></TR>
  <TR STYLE="vertical-align: bottom">
    <TD STYLE="text-align: center">&#160;</TD>
    <TD>&#160;</TD>
    <TD COLSPAN="6" STYLE="border-bottom: black 1pt solid">
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    <TD>&#160;</TD></TR>
  <TR STYLE="vertical-align: bottom">
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    <TD>&#160;</TD>
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  <TR STYLE="vertical-align: bottom; background-color: #CCEEFF">
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    <TD>&#160;</TD>
    <TD>&#160;</TD>
    <TD STYLE="text-align: right">&#160;</TD>
    <TD>&#160;</TD>
    <TD>&#160;</TD>
    <TD>&#160;</TD>
    <TD STYLE="text-align: right">&#160;</TD>
    <TD>&#160;</TD></TR>
  <TR STYLE="vertical-align: bottom; background-color: white">
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    <TD STYLE="width: 1%">&#160;</TD>
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    <TD STYLE="width: 1%">&#160;</TD>
    <TD STYLE="width: 1%">&#160;</TD>
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  <TR STYLE="vertical-align: bottom; background-color: #CCEEFF">
    <TD STYLE="text-align: justify"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">Short-term lease cost</FONT></TD>
    <TD>&#160;</TD>
    <TD><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">$</FONT></TD>
    <TD ID="xdx_98C_eus-gaap--ShortTermLeaseCost_c20250101__20250331__us-gaap--MajorPropertyClassAxis__us-gaap--PropertyAvailableForOperatingLeaseMember_pp0p0" TITLE="Short-term lease cost" STYLE="text-align: right"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">5,303</FONT></TD>
    <TD>&#160;</TD>
    <TD>&#160;</TD>
    <TD><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">$</FONT></TD>
    <TD ID="xdx_983_eus-gaap--ShortTermLeaseCost_c20240101__20240331__us-gaap--MajorPropertyClassAxis__us-gaap--PropertyAvailableForOperatingLeaseMember_pp0p0" TITLE="Short-term lease cost" STYLE="text-align: right"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">4,296</FONT></TD>
    <TD>&#160;</TD></TR>
  <TR STYLE="vertical-align: bottom; background-color: white">
    <TD STYLE="text-align: justify">&#160;</TD>
    <TD>&#160;</TD>
    <TD>&#160;</TD>
    <TD STYLE="text-align: right">&#160;</TD>
    <TD>&#160;</TD>
    <TD>&#160;</TD>
    <TD>&#160;</TD>
    <TD STYLE="text-align: right">&#160;</TD>
    <TD>&#160;</TD></TR>
  <TR STYLE="vertical-align: bottom; background-color: #CCEEFF">
    <TD STYLE="text-align: justify"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt"><B>Other information:</B></FONT></TD>
    <TD>&#160;</TD>
    <TD>&#160;</TD>
    <TD STYLE="text-align: right">&#160;</TD>
    <TD>&#160;</TD>
    <TD>&#160;</TD>
    <TD>&#160;</TD>
    <TD STYLE="text-align: right">&#160;</TD>
    <TD>&#160;</TD></TR>
  <TR STYLE="vertical-align: bottom; background-color: white">
    <TD STYLE="text-align: justify"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">Operating cash outflow used for operating leases</FONT></TD>
    <TD>&#160;</TD>
    <TD><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">$</FONT></TD>
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    <TD>&#160;</TD>
    <TD>&#160;</TD>
    <TD><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">$</FONT></TD>
    <TD ID="xdx_98D_eus-gaap--PaymentsForRent_c20240101__20240331__us-gaap--MajorPropertyClassAxis__us-gaap--PropertyAvailableForOperatingLeaseMember_pp0p0" TITLE="Operating cash outflow used for operating leases" STYLE="text-align: right"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">194,367</FONT></TD>
    <TD>&#160;</TD></TR>
  <TR STYLE="vertical-align: bottom; background-color: #CCEEFF">
    <TD STYLE="text-align: justify"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">Weighted average discount rate</FONT></TD>
    <TD>&#160;</TD>
    <TD>&#160;</TD>
    <TD ID="xdx_98F_eus-gaap--OperatingLeaseWeightedAverageDiscountRatePercent_iI_dp_c20250331__us-gaap--MajorPropertyClassAxis__us-gaap--PropertyAvailableForOperatingLeaseMember_zgAmRABzc17j" TITLE="Weighted average discount rate" STYLE="text-align: right"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">9.0</FONT></TD>
    <TD><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">%</FONT></TD>
    <TD>&#160;</TD>
    <TD>&#160;</TD>
    <TD ID="xdx_986_eus-gaap--OperatingLeaseWeightedAverageDiscountRatePercent_iI_dp_c20240331__us-gaap--MajorPropertyClassAxis__us-gaap--PropertyAvailableForOperatingLeaseMember_zmboBNA9BKjc" TITLE="Weighted average discount rate" STYLE="text-align: right"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">9.0</FONT></TD>
    <TD><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">%</FONT></TD></TR>
  <TR STYLE="vertical-align: bottom; background-color: white">
    <TD STYLE="text-align: justify"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">Weighted average remaining lease term</FONT></TD>
    <TD>&#160;</TD>
    <TD>&#160;</TD>
    <TD STYLE="text-align: right"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt"><FONT ID="xdx_903_eus-gaap--OperatingLeaseWeightedAverageRemainingLeaseTerm1_iI_dtY_c20250331__us-gaap--MajorPropertyClassAxis__us-gaap--PropertyAvailableForOperatingLeaseMember_zml4zc6K8395" TITLE="Weighted average remaining lease term">7.25</FONT> years</FONT></TD>
    <TD>&#160;</TD>
    <TD>&#160;</TD>
    <TD>&#160;</TD>
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    <TD>&#160;</TD></TR>
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<P ID="xdx_8AA_zbRPnU5qvQE3" STYLE="font: 11pt Times New Roman, Times, Serif; margin: 0"><FONT STYLE="font-size: 10pt">&#160;</FONT><FONT STYLE="font-size: 4pt">&#160;</FONT></P>


<P STYLE="font: 4pt Times New Roman, Times, Serif; margin: 0">&#160;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify">As of March 31, 2025, future minimum lease payments
due under our operating leases are as follows:</P>

<TABLE CELLPADDING="0" CELLSPACING="0" ID="xdx_89F_eus-gaap--LesseeOperatingLeaseLiabilityMaturityTableTextBlock_hus-gaap--MajorPropertyClassAxis__us-gaap--PropertySubjectToOperatingLeaseMember_zgCipnJf3xEk" SUMMARY="xdx: Disclosure - COMMITMENTS AND CONTINGENCIES (Details - Future minimum lease payments)" STYLE="font: 11pt Arial, Helvetica, Sans-Serif; border-collapse: collapse; width: 100%">
  <TR STYLE="vertical-align: bottom">
    <TD ID="xdx_8BB_zQW062s21pJb" STYLE="display: none; text-align: left; vertical-align: bottom">&#160;Schedule of future minimum lease payments due under the operating lease</TD><TD>&#160;</TD>
    <TD COLSPAN="2" ID="xdx_493_20250331__us-gaap--MajorPropertyClassAxis__us-gaap--PropertyAvailableForOperatingLeaseMember_zJgjhuaAKmne" STYLE="text-align: center">&#160;</TD><TD>&#160;</TD></TR>
  <TR STYLE="vertical-align: bottom">
    <TD STYLE="text-align: left; vertical-align: bottom">&#160;</TD><TD STYLE="font: bold 8pt Times New Roman, Times, Serif; padding-bottom: 1pt">&#160;</TD>
    <TD COLSPAN="2" STYLE="border-bottom: Black 1pt solid; font: bold 8pt Times New Roman, Times, Serif; text-align: center">Amount</TD><TD STYLE="font: bold 8pt Times New Roman, Times, Serif; padding-bottom: 1pt">&#160;</TD></TR>
  <TR STYLE="vertical-align: bottom; background-color: rgb(204,238,255)">
    <TD STYLE="font: 10pt Times New Roman, Times, Serif; vertical-align: bottom; text-align: left"><B>Calendar year:</B></TD><TD>&#160;</TD>
    <TD STYLE="text-align: left">&#160;</TD><TD STYLE="text-align: right">&#160;</TD><TD STYLE="text-align: left">&#160;</TD></TR>
  <TR ID="xdx_403_eus-gaap--LesseeOperatingLeaseLiabilityPaymentsRemainderOfFiscalYear_iI_pp0p0" STYLE="vertical-align: bottom; background-color: White">
    <TD STYLE="font: 10pt Times New Roman, Times, Serif; vertical-align: bottom; width: 83%; text-align: left">2025</TD><TD STYLE="font: 10pt Times New Roman, Times, Serif; width: 1%">&#160;</TD>
    <TD STYLE="font: 10pt Times New Roman, Times, Serif; width: 1%; text-align: left">$</TD><TD STYLE="font: 10pt Times New Roman, Times, Serif; width: 14%; text-align: right">599,332</TD><TD STYLE="font: 10pt Times New Roman, Times, Serif; width: 1%; text-align: left">&#160;</TD></TR>
  <TR ID="xdx_405_eus-gaap--LesseeOperatingLeaseLiabilityPaymentsDueNextTwelveMonths_iI_pp0p0" STYLE="vertical-align: bottom; background-color: rgb(204,238,255)">
    <TD STYLE="font: 10pt Times New Roman, Times, Serif; vertical-align: bottom; text-align: left">2026</TD><TD STYLE="font: 10pt Times New Roman, Times, Serif">&#160;</TD>
    <TD STYLE="font: 10pt Times New Roman, Times, Serif; text-align: left">&#160;</TD><TD STYLE="font: 10pt Times New Roman, Times, Serif; text-align: right">818,518</TD><TD STYLE="font: 10pt Times New Roman, Times, Serif; text-align: left">&#160;</TD></TR>
  <TR ID="xdx_40A_eus-gaap--LesseeOperatingLeaseLiabilityPaymentsDueYearTwo_iI_pp0p0" STYLE="vertical-align: bottom; background-color: White">
    <TD STYLE="font: 10pt Times New Roman, Times, Serif; vertical-align: bottom; text-align: left">2027</TD><TD STYLE="font: 10pt Times New Roman, Times, Serif">&#160;</TD>
    <TD STYLE="font: 10pt Times New Roman, Times, Serif; text-align: left">&#160;</TD><TD STYLE="font: 10pt Times New Roman, Times, Serif; text-align: right">838,984</TD><TD STYLE="font: 10pt Times New Roman, Times, Serif; text-align: left">&#160;</TD></TR>
  <TR ID="xdx_40D_eus-gaap--LesseeOperatingLeaseLiabilityPaymentsDueYearThree_iI_pp0p0" STYLE="vertical-align: bottom; background-color: rgb(204,238,255)">
    <TD STYLE="font: 10pt Times New Roman, Times, Serif; vertical-align: bottom; text-align: left">2028</TD><TD STYLE="font: 10pt Times New Roman, Times, Serif">&#160;</TD>
    <TD STYLE="font: 10pt Times New Roman, Times, Serif; text-align: left">&#160;</TD><TD STYLE="font: 10pt Times New Roman, Times, Serif; text-align: right">859,856</TD><TD STYLE="font: 10pt Times New Roman, Times, Serif; text-align: left">&#160;</TD></TR>
  <TR ID="xdx_402_eus-gaap--LesseeOperatingLeaseLiabilityPaymentsDueAfterYearFive_iI_pp0p0" STYLE="vertical-align: bottom; background-color: White">
    <TD STYLE="font: 10pt Times New Roman, Times, Serif; text-align: left; padding-bottom: 1pt; vertical-align: bottom">Thereafter</TD><TD STYLE="font: 10pt Times New Roman, Times, Serif; padding-bottom: 1pt">&#160;</TD>
    <TD STYLE="border-bottom: Black 1pt solid; font: 10pt Times New Roman, Times, Serif; text-align: left">&#160;</TD><TD STYLE="border-bottom: Black 1pt solid; font: 10pt Times New Roman, Times, Serif; text-align: right">3,183,571</TD><TD STYLE="font: 10pt Times New Roman, Times, Serif; padding-bottom: 1pt; text-align: left">&#160;</TD></TR>
  <TR ID="xdx_407_eus-gaap--LesseeOperatingLeaseLiabilityPaymentsDue_iI_pp0p0" STYLE="vertical-align: bottom; background-color: rgb(204,238,255)">
    <TD STYLE="font: 10pt Times New Roman, Times, Serif; vertical-align: bottom; text-align: left">Total undiscounted future minimum lease payments</TD><TD STYLE="font: 10pt Times New Roman, Times, Serif">&#160;</TD>
    <TD STYLE="font: 10pt Times New Roman, Times, Serif; text-align: left">&#160;</TD><TD STYLE="font: 10pt Times New Roman, Times, Serif; text-align: right">6,300,261</TD><TD STYLE="font: 10pt Times New Roman, Times, Serif; text-align: left">&#160;</TD></TR>
  <TR ID="xdx_407_eus-gaap--LesseeOperatingLeaseLiabilityUndiscountedExcessAmount_iNI_pp0p0_di_zNbZEvGkah0b" STYLE="vertical-align: bottom; background-color: White">
    <TD STYLE="font: 10pt Times New Roman, Times, Serif; vertical-align: bottom; text-align: left; padding-bottom: 1pt">Less: Impact of discounting</TD><TD STYLE="font: 10pt Times New Roman, Times, Serif; padding-bottom: 1pt">&#160;</TD>
    <TD STYLE="border-bottom: Black 1pt solid; font: 10pt Times New Roman, Times, Serif; text-align: left">&#160;</TD><TD STYLE="border-bottom: Black 1pt solid; font: 10pt Times New Roman, Times, Serif; text-align: right">(1,729,619</TD><TD STYLE="font: 10pt Times New Roman, Times, Serif; padding-bottom: 1pt; text-align: left">)</TD></TR>
  <TR ID="xdx_40F_eus-gaap--OperatingLeaseLiability_iI_pp0p0" STYLE="vertical-align: bottom; background-color: rgb(204,238,255)">
    <TD STYLE="font: 10pt Times New Roman, Times, Serif; vertical-align: bottom; text-align: left">Total present value of operating lease obligations</TD><TD STYLE="font: 10pt Times New Roman, Times, Serif">&#160;</TD>
    <TD STYLE="font: 10pt Times New Roman, Times, Serif; text-align: left">&#160;</TD><TD STYLE="font: 10pt Times New Roman, Times, Serif; text-align: right">4,570,642</TD><TD STYLE="font: 10pt Times New Roman, Times, Serif; text-align: left">&#160;</TD></TR>
  <TR ID="xdx_40E_eus-gaap--OperatingLeaseLiabilityCurrent_iNI_pp0p0_di_zO3ssdYJ5oce" STYLE="vertical-align: bottom; background-color: White">
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    <TD STYLE="border-bottom: Black 1pt solid; font: 10pt Times New Roman, Times, Serif; text-align: left">&#160;</TD><TD STYLE="border-bottom: Black 1pt solid; font: 10pt Times New Roman, Times, Serif; text-align: right">(803,536</TD><TD STYLE="font: 10pt Times New Roman, Times, Serif; padding-bottom: 1pt; text-align: left">)</TD></TR>
  <TR ID="xdx_401_eus-gaap--OperatingLeaseLiabilityNoncurrent_iI_pp0p0_zfJyCFLexEp5" STYLE="vertical-align: bottom; background-color: rgb(204,238,255)">
    <TD STYLE="font: 10pt Times New Roman, Times, Serif; vertical-align: bottom; text-align: left; padding-bottom: 2.5pt">Operating lease obligations, less current portion</TD><TD STYLE="font: 10pt Times New Roman, Times, Serif; padding-bottom: 2.5pt">&#160;</TD>
    <TD STYLE="border-bottom: Black 2.5pt double; font: 10pt Times New Roman, Times, Serif; text-align: left">$</TD><TD STYLE="border-bottom: Black 2.5pt double; font: 10pt Times New Roman, Times, Serif; text-align: right">3,767,106</TD><TD STYLE="font: 10pt Times New Roman, Times, Serif; padding-bottom: 2.5pt; text-align: left">&#160;</TD></TR>
  </TABLE>

<P ID="xdx_8A5_zDsKbe5XjnG9" STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0"><B>&#160;</B></P>

<P ID="xdx_237_zkx1wTs8rgll" STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0"><B>&#160;</B></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0"></P>

<!-- Field: Page; Sequence: 142 -->
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    <!-- Field: /Page -->

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0">&#160;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0"><B>Master Lease Agreement</B></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0"><B>&#160;</B></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0 0 9pt; text-align: justify">On November 1, 2024, the Company entered into
a Master Lease Agreement (&#8220;MLA&#8221;) for a total lease obligation of $<FONT ID="xdx_907_eus-gaap--OperatingLeaseLiability_c20241102__us-gaap--MajorPropertyClassAxis__custom--PropertyAvailableForMasterLeaseMember_pp0p0" TITLE="Operating lease liability">2,662,282</FONT>. The lease is structured with a repayment term
of <FONT ID="xdx_906_eus-gaap--LesseeOperatingLeaseRemainingLeaseTerm_iI_dtM_c20241102__us-gaap--MajorPropertyClassAxis__custom--PropertyAvailableForMasterLeaseMember_zhhOuPSSfdYb" TITLE="Lease term">66</FONT> months, with fixed monthly payments commencing on December 10, 2024. At the end of the lease term, the Company has the option to
purchase the leased asset for $1.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0 0 9pt; text-align: justify">In accordance with ASC 842, the lease is classified
as a finance lease, as the $1 buyout option indicates a transfer of ownership. As a result, the Company has recorded a right-of-use asset
and a corresponding lease liability on its balance sheet. Interest expense and amortization of the right-of-use asset will be recognized
over the lease term. Management believes this lease structure supports the Company&#8217;s operational and financial objectives.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify">The following table shows supplemental information
related to the MLA:</P>

<TABLE CELLPADDING="0" CELLSPACING="0" SUMMARY="xdx: Disclosure - COMMITMENTS AND CONTINGENCIES (Details - Supplemental information related to leases)" ID="xdx_895_ecustom--ScheduleOfSupplementalInformationRelatedLeasesTableTextBlock_hus-gaap--MajorPropertyClassAxis__custom--MasterLeaseAgreementMember_zEQMu4djbM0f" STYLE="font: 11pt Arial, Helvetica, Sans-Serif; border-collapse: collapse; width: 100%">
  <TR STYLE="vertical-align: bottom">
    <TD ID="xdx_8B1_z8AtCB7eScna" STYLE="display: none">Schedule of supplemental information related to leases</TD><TD>&#160;</TD>
    <TD COLSPAN="2">&#160;</TD><TD>&#160;</TD><TD>&#160;</TD>
    <TD COLSPAN="2">&#160;</TD><TD>&#160;</TD></TR>
  <TR STYLE="vertical-align: bottom">
    <TD STYLE="text-align: center">&#160;</TD><TD STYLE="font: 8pt Times New Roman, Times, Serif; padding-bottom: 1pt">&#160;</TD>
    <TD COLSPAN="6" STYLE="border-bottom: Black 1pt solid; font: 8pt Times New Roman, Times, Serif; text-align: center"><P STYLE="font: 8pt Times New Roman, Times, Serif; margin: 0; text-align: center"><B>Three Months Ended </B></P> <P STYLE="font: 8pt Times New Roman, Times, Serif; margin: 0; text-align: center"><B>March 31,</B></P></TD><TD STYLE="font: 8pt Times New Roman, Times, Serif; padding-bottom: 1pt">&#160;</TD></TR>
  <TR STYLE="vertical-align: bottom">
    <TD>&#160;</TD><TD STYLE="font: bold 8pt Times New Roman, Times, Serif; padding-bottom: 1pt">&#160;</TD>
    <TD COLSPAN="2" STYLE="border-bottom: Black 1pt solid; font: bold 8pt Times New Roman, Times, Serif; text-align: center">2025</TD><TD STYLE="font: bold 8pt Times New Roman, Times, Serif; padding-bottom: 1pt">&#160;</TD><TD STYLE="font: bold 8pt Times New Roman, Times, Serif; padding-bottom: 1pt">&#160;</TD>
    <TD COLSPAN="2" STYLE="border-bottom: Black 1pt solid; font: bold 8pt Times New Roman, Times, Serif; text-align: center">2024</TD><TD STYLE="font: bold 8pt Times New Roman, Times, Serif; padding-bottom: 1pt">&#160;</TD></TR>
  <TR STYLE="vertical-align: bottom; background-color: rgb(204,238,255)">
    <TD STYLE="font: bold 10pt Times New Roman, Times, Serif; text-align: left">Lease cost:</TD><TD>&#160;</TD>
    <TD STYLE="text-align: left">&#160;</TD><TD STYLE="text-align: right">&#160;</TD><TD STYLE="text-align: left">&#160;</TD><TD>&#160;</TD>
    <TD STYLE="text-align: left">&#160;</TD><TD STYLE="text-align: right">&#160;</TD><TD STYLE="text-align: left">&#160;</TD></TR>
  <TR STYLE="vertical-align: bottom; background-color: White">
    <TD STYLE="font: 10pt Times New Roman, Times, Serif; width: 66%; text-align: left">Master Lease Agreement cost</TD><TD STYLE="font: 10pt Times New Roman, Times, Serif; width: 1%">&#160;</TD>
    <TD STYLE="font: 10pt Times New Roman, Times, Serif; width: 1%; text-align: left">$</TD><TD ID="xdx_987_eus-gaap--OperatingLeaseCost_c20250101__20250331__us-gaap--MajorPropertyClassAxis__custom--PropertyAvailableForMasterLeaseMember_pp0p0" TITLE="Operating lease cost" STYLE="font: 10pt Times New Roman, Times, Serif; width: 14%; text-align: right">121,013</TD><TD STYLE="font: 10pt Times New Roman, Times, Serif; width: 1%; text-align: left">&#160;</TD><TD STYLE="font: 10pt Times New Roman, Times, Serif; width: 1%">&#160;</TD>
    <TD STYLE="font: 10pt Times New Roman, Times, Serif; width: 1%; text-align: left">$</TD><TD STYLE="font: 10pt Times New Roman, Times, Serif; width: 14%; text-align: right"><FONT ID="xdx_902_eus-gaap--OperatingLeaseCost_c20240101__20240331__us-gaap--MajorPropertyClassAxis__custom--PropertyAvailableForMasterLeaseMember_pp0p0" TITLE="Operating lease cost">&#8212;</FONT></TD><TD STYLE="font: 10pt Times New Roman, Times, Serif; width: 1%; text-align: left">&#160;</TD></TR>
  <TR STYLE="vertical-align: bottom; background-color: rgb(204,238,255)">
    <TD STYLE="font: 10pt Times New Roman, Times, Serif; text-align: left">Short-term lease liability</TD><TD STYLE="font: 10pt Times New Roman, Times, Serif">&#160;</TD>
    <TD STYLE="font: 10pt Times New Roman, Times, Serif; text-align: left">$</TD><TD ID="xdx_986_eus-gaap--ShortTermLeaseCost_c20250101__20250331__us-gaap--MajorPropertyClassAxis__custom--PropertyAvailableForMasterLeaseMember_pp0p0" TITLE="Short-term lease cost" STYLE="font: 10pt Times New Roman, Times, Serif; text-align: right">487,695</TD><TD STYLE="font: 10pt Times New Roman, Times, Serif; text-align: left">&#160;</TD><TD STYLE="font: 10pt Times New Roman, Times, Serif">&#160;</TD>
    <TD STYLE="font: 10pt Times New Roman, Times, Serif; text-align: left">$</TD><TD STYLE="font: 10pt Times New Roman, Times, Serif; text-align: right"><FONT ID="xdx_903_eus-gaap--ShortTermLeaseCost_c20240101__20240331__us-gaap--MajorPropertyClassAxis__custom--PropertyAvailableForMasterLeaseMember_pp0p0" TITLE="Short-term lease cost">&#8212;</FONT></TD><TD STYLE="font: 10pt Times New Roman, Times, Serif; text-align: left">&#160;</TD></TR>
  <TR STYLE="vertical-align: bottom; background-color: White">
    <TD>&#160;</TD><TD>&#160;</TD>
    <TD STYLE="text-align: left">&#160;</TD><TD STYLE="text-align: right">&#160;</TD><TD STYLE="text-align: left">&#160;</TD><TD>&#160;</TD>
    <TD STYLE="text-align: left">&#160;</TD><TD STYLE="text-align: right">&#160;</TD><TD STYLE="text-align: left">&#160;</TD></TR>
  <TR STYLE="vertical-align: bottom; background-color: rgb(204,238,255)">
    <TD STYLE="font: bold 10pt Times New Roman, Times, Serif; text-align: left">Other information:</TD><TD>&#160;</TD>
    <TD STYLE="text-align: left">&#160;</TD><TD STYLE="text-align: right">&#160;</TD><TD STYLE="text-align: left">&#160;</TD><TD>&#160;</TD>
    <TD STYLE="text-align: left">&#160;</TD><TD STYLE="text-align: right">&#160;</TD><TD STYLE="text-align: left">&#160;</TD></TR>
  <TR STYLE="vertical-align: bottom; background-color: White">
    <TD STYLE="font: 10pt Times New Roman, Times, Serif; text-align: left">Operating cash outflow used for operating leases</TD><TD STYLE="font: 10pt Times New Roman, Times, Serif">&#160;</TD>
    <TD STYLE="font: 10pt Times New Roman, Times, Serif; text-align: left">$</TD><TD ID="xdx_983_eus-gaap--PaymentsForRent_c20250101__20250331__us-gaap--MajorPropertyClassAxis__custom--PropertyAvailableForMasterLeaseMember_pp0p0" TITLE="Operating cash outflow used for operating leases" STYLE="font: 10pt Times New Roman, Times, Serif; text-align: right">11,700</TD><TD STYLE="font: 10pt Times New Roman, Times, Serif; text-align: left">&#160;</TD><TD STYLE="font: 10pt Times New Roman, Times, Serif">&#160;</TD>
    <TD STYLE="font: 10pt Times New Roman, Times, Serif; text-align: left">$</TD><TD STYLE="font: 10pt Times New Roman, Times, Serif; text-align: right"><FONT ID="xdx_90E_eus-gaap--PaymentsForRent_c20240101__20240331__us-gaap--MajorPropertyClassAxis__custom--PropertyAvailableForMasterLeaseMember_pp0p0" TITLE="Operating cash outflow used for operating leases">&#8212;</FONT></TD><TD STYLE="font: 10pt Times New Roman, Times, Serif; text-align: left">&#160;</TD></TR>
  <TR STYLE="vertical-align: bottom; background-color: rgb(204,238,255)">
    <TD STYLE="font: 10pt Times New Roman, Times, Serif">Weighted average discount rate</TD><TD STYLE="font: 10pt Times New Roman, Times, Serif">&#160;</TD>
    <TD STYLE="font: 10pt Times New Roman, Times, Serif; text-align: left">&#160;</TD><TD ID="xdx_98C_eus-gaap--OperatingLeaseWeightedAverageDiscountRatePercent_iI_dp_c20250331__us-gaap--MajorPropertyClassAxis__custom--PropertyAvailableForMasterLeaseMember_zuUELLXK2H2l" TITLE="Weighted average discount rate" STYLE="font: 10pt Times New Roman, Times, Serif; text-align: right">8.63</TD><TD STYLE="font: 10pt Times New Roman, Times, Serif; text-align: left">%</TD><TD STYLE="font: 10pt Times New Roman, Times, Serif">&#160;</TD>
    <TD STYLE="font: 10pt Times New Roman, Times, Serif; text-align: left">&#160;</TD><TD STYLE="font: 10pt Times New Roman, Times, Serif; text-align: right"><FONT ID="xdx_903_eus-gaap--OperatingLeaseWeightedAverageDiscountRatePercent_iI_dp0_c20240331__us-gaap--MajorPropertyClassAxis__custom--PropertyAvailableForMasterLeaseMember_zKFQJZVnEFv9" TITLE="Weighted average discount rate">&#8212;</FONT></TD><TD STYLE="font: 10pt Times New Roman, Times, Serif; text-align: left">&#160;</TD></TR>
  <TR STYLE="vertical-align: bottom; background-color: White">
    <TD STYLE="font: 10pt Times New Roman, Times, Serif">Weighted average remaining lease term</TD><TD STYLE="font: 10pt Times New Roman, Times, Serif">&#160;</TD>
    <TD STYLE="font: 10pt Times New Roman, Times, Serif; text-align: left">&#160;</TD><TD STYLE="font: 10pt Times New Roman, Times, Serif; text-align: right"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt"><FONT ID="xdx_90A_eus-gaap--OperatingLeaseWeightedAverageRemainingLeaseTerm1_iI_dtY_c20250331__us-gaap--MajorPropertyClassAxis__custom--PropertyAvailableForMasterLeaseMember_ziwqHGHgjnZc" TITLE="Weighted average remaining lease term">5.17</FONT> years</FONT></TD><TD STYLE="font: 10pt Times New Roman, Times, Serif; text-align: left">&#160;</TD><TD STYLE="font: 10pt Times New Roman, Times, Serif">&#160;</TD>
    <TD STYLE="font: 10pt Times New Roman, Times, Serif; text-align: left">&#160;</TD><TD STYLE="font: 10pt Times New Roman, Times, Serif; text-align: right">&#8212;</TD><TD STYLE="font: 10pt Times New Roman, Times, Serif; text-align: left">&#160;</TD></TR>
  </TABLE>

<P ID="xdx_8AE_z7PPkkdczlJ5" STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify">&#160;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify">At March 31, 2025, future minimum lease payments due
under the MLA are as follows:</P>

<TABLE CELLPADDING="0" CELLSPACING="0" SUMMARY="xdx: Disclosure - COMMITMENTS AND CONTINGENCIES (Details - Future minimum lease payments)" ID="xdx_895_eus-gaap--LesseeOperatingLeaseLiabilityMaturityTableTextBlock_hus-gaap--MajorPropertyClassAxis__custom--MasterLeaseAgreementMember_z3XULlNzcqK8" STYLE="font: 11pt Arial, Helvetica, Sans-Serif; border-collapse: collapse; width: 100%">
  <TR STYLE="vertical-align: bottom">
    <TD ID="xdx_8B9_zRbeAn3In3C5" STYLE="display: none">Schedule of future minimum lease payments due under the operating lease</TD><TD>&#160;</TD>
    <TD COLSPAN="2" ID="xdx_49E_20250331__us-gaap--MajorPropertyClassAxis__custom--PropertyAvailableForMasterLeaseMember_z1t8tSYQ4Vda">&#160;</TD><TD>&#160;</TD></TR>
  <TR STYLE="vertical-align: bottom">
    <TD>&#160;</TD><TD STYLE="font: bold 8pt Times New Roman, Times, Serif; padding-bottom: 1pt">&#160;</TD>
    <TD COLSPAN="2" STYLE="border-bottom: Black 1pt solid; font: bold 8pt Times New Roman, Times, Serif; text-align: center">Amount</TD><TD STYLE="font: bold 8pt Times New Roman, Times, Serif; padding-bottom: 1pt">&#160;</TD></TR>
  <TR STYLE="vertical-align: bottom; background-color: rgb(204,238,255)">
    <TD STYLE="font: bold 10pt Times New Roman, Times, Serif; text-align: justify">Calendar year:</TD><TD>&#160;</TD>
    <TD STYLE="text-align: left">&#160;</TD><TD STYLE="text-align: right">&#160;</TD><TD STYLE="text-align: left">&#160;</TD></TR>
  <TR ID="xdx_404_eus-gaap--LesseeOperatingLeaseLiabilityPaymentsRemainderOfFiscalYear_iI_pp0p0_zfq9cZzjMKX5" STYLE="vertical-align: bottom; background-color: White">
    <TD STYLE="font: 10pt Times New Roman, Times, Serif; width: 83%; text-align: justify; text-indent: 10pt">2025</TD><TD STYLE="font: 10pt Times New Roman, Times, Serif; width: 1%">&#160;</TD>
    <TD STYLE="font: 10pt Times New Roman, Times, Serif; width: 1%; text-align: left">$</TD><TD STYLE="font: 10pt Times New Roman, Times, Serif; width: 14%; text-align: right">355,751</TD><TD STYLE="font: 10pt Times New Roman, Times, Serif; width: 1%; text-align: left">&#160;</TD></TR>
  <TR ID="xdx_40A_eus-gaap--LesseeOperatingLeaseLiabilityPaymentsDueNextTwelveMonths_iI_pp0p0_zHv8d9i338M" STYLE="vertical-align: bottom; background-color: rgb(204,238,255)">
    <TD STYLE="font: 10pt Times New Roman, Times, Serif; text-align: justify; text-indent: 10pt">2026</TD><TD STYLE="font: 10pt Times New Roman, Times, Serif">&#160;</TD>
    <TD STYLE="font: 10pt Times New Roman, Times, Serif; text-align: left">&#160;</TD><TD STYLE="font: 10pt Times New Roman, Times, Serif; text-align: right">527,777</TD><TD STYLE="font: 10pt Times New Roman, Times, Serif; text-align: left">&#160;</TD></TR>
  <TR ID="xdx_400_eus-gaap--LesseeOperatingLeaseLiabilityPaymentsDueYearTwo_iI_pp0p0_zBrGdKkUoOt6" STYLE="vertical-align: bottom; background-color: White">
    <TD STYLE="font: 10pt Times New Roman, Times, Serif; text-align: justify; text-indent: 10pt">2027</TD><TD STYLE="font: 10pt Times New Roman, Times, Serif">&#160;</TD>
    <TD STYLE="font: 10pt Times New Roman, Times, Serif; text-align: left">&#160;</TD><TD STYLE="font: 10pt Times New Roman, Times, Serif; text-align: right">527,777</TD><TD STYLE="font: 10pt Times New Roman, Times, Serif; text-align: left">&#160;</TD></TR>
  <TR ID="xdx_403_eus-gaap--LesseeOperatingLeaseLiabilityPaymentsDueYearThree_iI_pp0p0_zEjhdcRrcebl" STYLE="vertical-align: bottom; background-color: rgb(204,238,255)">
    <TD STYLE="font: 10pt Times New Roman, Times, Serif; text-align: justify; text-indent: 10pt">2028</TD><TD STYLE="font: 10pt Times New Roman, Times, Serif">&#160;</TD>
    <TD STYLE="font: 10pt Times New Roman, Times, Serif; text-align: left">&#160;</TD><TD STYLE="font: 10pt Times New Roman, Times, Serif; text-align: right">527,777</TD><TD STYLE="font: 10pt Times New Roman, Times, Serif; text-align: left">&#160;</TD></TR>
  <TR ID="xdx_404_eus-gaap--LesseeOperatingLeaseLiabilityPaymentsDueAfterYearFive_iI_pp0p0_z7Pvcqv92dn6" STYLE="vertical-align: bottom; background-color: White">
    <TD STYLE="font: 10pt Times New Roman, Times, Serif; text-align: justify; padding-bottom: 1pt">&#160;&#160;&#160;Thereafter</TD><TD STYLE="font: 10pt Times New Roman, Times, Serif; padding-bottom: 1pt">&#160;</TD>
    <TD STYLE="border-bottom: Black 1pt solid; font: 10pt Times New Roman, Times, Serif; text-align: left">&#160;</TD><TD STYLE="border-bottom: Black 1pt solid; font: 10pt Times New Roman, Times, Serif; text-align: right">703,702</TD><TD STYLE="font: 10pt Times New Roman, Times, Serif; padding-bottom: 1pt; text-align: left">&#160;</TD></TR>
  <TR ID="xdx_400_eus-gaap--LesseeOperatingLeaseLiabilityPaymentsDue_iI_pp0p0_zuDxd9TQt8v8" STYLE="vertical-align: bottom; background-color: rgb(204,238,255)">
    <TD STYLE="font: 10pt Times New Roman, Times, Serif; text-align: justify">&#160;&#160;&#160;&#160;&#160;&#160;Total undiscounted future minimum lease payments</TD><TD STYLE="font: 10pt Times New Roman, Times, Serif">&#160;</TD>
    <TD STYLE="font: 10pt Times New Roman, Times, Serif; text-align: left">&#160;</TD><TD STYLE="font: 10pt Times New Roman, Times, Serif; text-align: right">2,642,784</TD><TD STYLE="font: 10pt Times New Roman, Times, Serif; text-align: left">&#160;</TD></TR>
  <TR ID="xdx_403_eus-gaap--LesseeOperatingLeaseLiabilityUndiscountedExcessAmount_iNI_pp0p0_di_zEoQBL6II9i6" STYLE="vertical-align: bottom; background-color: White">
    <TD STYLE="font: 10pt Times New Roman, Times, Serif; text-align: justify; padding-bottom: 1pt">Less: Impact of discounting</TD><TD STYLE="font: 10pt Times New Roman, Times, Serif; padding-bottom: 1pt">&#160;</TD>
    <TD STYLE="border-bottom: Black 1pt solid; font: 10pt Times New Roman, Times, Serif; text-align: left">&#160;</TD><TD STYLE="border-bottom: Black 1pt solid; font: 10pt Times New Roman, Times, Serif; text-align: right">(517,049</TD><TD STYLE="font: 10pt Times New Roman, Times, Serif; padding-bottom: 1pt; text-align: left">)</TD></TR>
  <TR ID="xdx_40A_eus-gaap--OperatingLeaseLiability_iI_pp0p0_zeVCxtfwtsrb" STYLE="vertical-align: bottom; background-color: rgb(204,238,255)">
    <TD STYLE="font: 10pt Times New Roman, Times, Serif; text-align: justify">Total present value of MLA obligation</TD><TD STYLE="font: 10pt Times New Roman, Times, Serif">&#160;</TD>
    <TD STYLE="font: 10pt Times New Roman, Times, Serif; text-align: left">&#160;</TD><TD STYLE="font: 10pt Times New Roman, Times, Serif; text-align: right">2,125,735</TD><TD STYLE="font: 10pt Times New Roman, Times, Serif; text-align: left">&#160;</TD></TR>
  <TR ID="xdx_40C_eus-gaap--OperatingLeaseLiabilityCurrent_iNI_pp0p0_di_z2QGoppCdEG8" STYLE="vertical-align: bottom; background-color: White">
    <TD STYLE="font: 10pt Times New Roman, Times, Serif; text-align: justify; padding-bottom: 1pt">&#160;&#160;&#160;&#160;&#160;&#160;Current portion</TD><TD STYLE="font: 10pt Times New Roman, Times, Serif; padding-bottom: 1pt">&#160;</TD>
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<P ID="xdx_8A6_zNuR48OoHdtc" STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify">&#160;</P>

<P ID="xdx_239_zXV9Th2e6IJ3" STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify">&#160;&#160;</P>

<P ID="xdx_237_zsunWTWh5Qo1" STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify">&#160;</P>

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<P ID="xdx_807_eus-gaap--StockholdersEquityNoteDisclosureTextBlock_zrG8T1oMgeak" STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify"><B>NOTE 9 &#8211;<FONT ID="xdx_824_zPUa96bK6Q49"> STOCKHOLDERS&#8217; EQUITY</FONT></B>&#160;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify">&#160;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify"><B><FONT STYLE="text-decoration: underline">Series B Convertible Preferred Stock</FONT></B></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify"><B>&#160;</B></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify">The following summary of certain terms and provisions
of our Series B Convertible Preferred Stock (the &#8220;Series B Convertible Preferred Stock&#8221;) is subject to, and qualified in its
entirety by reference to, the terms and provisions set forth in our certificate of designation of preferences, rights and limitations
of Series B Convertible Preferred Stock (the &#8220;Series B Convertible Preferred Certificate of Designation&#8221;) as previously filed.
Subject to the limitations prescribed by our articles of incorporation, our board of directors is authorized to establish the number of
shares constituting each series of preferred stock and to fix the designations, powers, preferences, and rights of the shares of each
of those series and the qualifications, limitations and restrictions of each of those series, all without any further vote or action by
our stockholders. Our board of directors designated <FONT ID="xdx_908_ecustom--PreferredStockSharesAvailableToBeDesignated_iI_c20250331__us-gaap--StatementClassOfStockAxis__custom--ConvertibleSeriesBPreferredStockMember_zUfGi3SVnNg2" TITLE="Preferred stock, shares designated">15,000</FONT> of the <FONT ID="xdx_904_eus-gaap--PreferredStockSharesAuthorized_iI_c20250331__us-gaap--StatementClassOfStockAxis__custom--ConvertibleSeriesBPreferredStockMember_z5XyC6kJgJi4" TITLE="Preferred stock, shares authorized">10,000,000</FONT> authorized shares of preferred stock as Series B Convertible
Preferred Stock with a stated value of $<FONT ID="xdx_903_eus-gaap--PreferredStockParOrStatedValuePerShare_iI_c20250331__us-gaap--StatementClassOfStockAxis__custom--ConvertibleSeriesBPreferredStockMember_zx9rn1hPuOl9" TITLE="Preferred stock, par value">1,000</FONT> per share. The shares of Series B Convertible Preferred Stock were validly issued, fully
paid and non-assessable.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify">&#160;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify">Each share of Series B Convertible Preferred
Stock was convertible at any time at the holder&#8217;s option into a number of shares of common stock equal to $<FONT ID="xdx_901_eus-gaap--ConversionOfStockAmountConverted1_c20250101__20250331__us-gaap--StatementClassOfStockAxis__custom--ConvertibleSeriesBPreferredStockMember_pp0p0" TITLE="Converted value">1,000</FONT>
divided by the conversion price of $<FONT ID="xdx_906_eus-gaap--PreferredStockConvertibleConversionPrice_c20250331__us-gaap--StatementClassOfStockAxis__custom--ConvertibleSeriesBPreferredStockMember_pdd" TITLE="Conversion price">7.00</FONT>
per share. Notwithstanding the foregoing, we could not effect any conversion of Series B Convertible Preferred Stock, with certain
exceptions, to the extent that, after giving effect to an attempted conversion, the holder of shares of Series B Convertible
Preferred Stock (together with such holder&#8217;s affiliates, and any persons acting as a group together with such holder or any of
such holder&#8217;s affiliates) would beneficially own a number of shares of our common stock in excess of 4.99% (or, at the
election of the purchaser, 9.99%) of the shares of our common stock then outstanding after giving effect to such conversion. The
Series B Convertible Preferred Certificate of Designation does not prohibit the Company from waiving this limitation. Upon any
liquidation, dissolution or winding-up of the Company, whether voluntary or involuntary, the holders would be entitled to
participate on an as-converted-to-common stock basis (without giving effect to the Beneficial Ownership Limitation) with holders of
the common stock in any distribution of assets of the Company to the holders of the common stock. As of March 31, 2025 and December
31, 2024, respectively, there are zero <FONT ID="xdx_906_eus-gaap--PreferredStockSharesIssued_iI_c20250331__us-gaap--StatementClassOfStockAxis__custom--ConvertibleSeriesBPreferredStockMember_z6DqboXIYjkl" TITLE="Preferred stock, shares issued" STYLE="display: none">0</FONT> and zero <FONT ID="xdx_90A_eus-gaap--PreferredStockSharesOutstanding_iI_c20241231__us-gaap--StatementClassOfStockAxis__custom--ConvertibleSeriesBPreferredStockMember_zNfdWN7I9FAc" TITLE="Preferred stock, shares outstanding" STYLE="display: none">0</FONT> shares of Series B Convertible Preferred Stock issued and outstanding.&#160;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify"><B>&#160;</B></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0"><B><FONT STYLE="text-decoration: underline">Series C Convertible Preferred Stock</FONT></B></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0">&#160;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify">The Company&#8217;s Board of Directors
designated <FONT ID="xdx_909_ecustom--PreferredStockSharesAvailableToBeDesignated_iI_c20250331__us-gaap--StatementClassOfStockAxis__custom--ConvertibleSeriesCPreferredStockMember_zNoXXNgdrVD3" TITLE="Preferred stock, shares designated">5,000</FONT>
shares as the Series C Convertible Preferred Stock (the &#8220;Series C Convertible Preferred Stock&#8221;). Each share of the
Series C Convertible Preferred Stock had a stated value of $1,000. The holders of the Series C Convertible Preferred Stock, the
holders of the common stock and the holders of any other class or series of shares entitled to vote with the common stock shall vote
together as one class on all matters submitted to a vote of shareholders of the Company. <FONT ID="xdx_903_eus-gaap--PreferredStockVotingRights_c20250101__20250331__us-gaap--StatementClassOfStockAxis__custom--ConvertibleSeriesCPreferredStockMember" TITLE="Preferred stock voting rights">Each
share of Series C Convertible Preferred Stock had 172 votes</FONT> (subject to adjustment); provided that in no event may a holder
of Series C Convertible Preferred Stock be entitled to vote a number of shares in excess of such holder&#8217;s Beneficial Ownership
Limitation (as defined in the Certificate of Designation and as described below). Each share of Series C Convertible Preferred Stock
was convertible, at any time and from time to time, at the option of the holder, into that number of shares of common stock (subject
to the Beneficial Ownership Limitation) determined by dividing the stated value of such share ($1,000) by the conversion price,
which is $5.50 (subject to adjustment). The Company shall not effect any conversion of the Series C Convertible Preferred Stock, and
a holder shall not have the right to convert any portion of the Series C Convertible Preferred Stock, to the extent that after
giving effect to the conversion sought by the holder such holder (together with such holder&#8217;s Attribution Parties (as defined
in the Certificate of Designation)) would beneficially own more than 4.99% (or upon election by a holder, 19.99%) of the number of
shares of common stock outstanding immediately after giving effect to the issuance of shares of common stock issuable upon such
conversion (the &#8220;Beneficial Ownership Limitation&#8221;). All holders of the Series C Convertible Preferred Stock elected the
19.99% Beneficial Ownership Limitation. At March 31, 2025 and December 31, 2024 there were zero and zero shares of Series C
 Convertible Preferred Stock, issued and outstanding, respectively.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0">&#160;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify"></P>

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<P STYLE="font: 4pt Times New Roman, Times, Serif; margin: 0">&#160;</P>

<P STYLE="font: 11pt Times New Roman, Times, Serif; margin: 0"><FONT STYLE="font-size: 10pt"><B><FONT STYLE="text-decoration: underline">Series D Convertible Preferred
Stock</FONT></B></FONT><FONT STYLE="font-size: 8pt">&#160;</FONT></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0">&#160;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify">On September 28, 2022, the Company amended its
articles of incorporation to designate <FONT ID="xdx_904_ecustom--PreferredStockSharesAvailableToBeDesignated_iI_c20220928__us-gaap--StatementClassOfStockAxis__custom--ConvertibleSeriesDPreferredStockMember_zShJI6gXpxvd" TITLE="Preferred stock, shares designated">4,000</FONT>
shares as the Series D Convertible Preferred Stock (the &#8220;Series D Convertible Preferred Stock&#8221;). Each share of the
Series D Convertible Preferred Stock has a stated value of $<FONT ID="xdx_904_eus-gaap--PreferredStockParOrStatedValuePerShare_iI_c20220928__us-gaap--StatementClassOfStockAxis__custom--ConvertibleSeriesDPreferredStockMember_zYVnHRwtcm99" TITLE="Preferred stock, par value">1,000</FONT>.
The holders of the Series D Convertible Preferred Stock, the holders of the common stock and the holders of any other class or
series of shares entitled to vote with the common stock shall vote together as one class on all matters submitted to a vote of
shareholders of the Company. <FONT ID="xdx_902_eus-gaap--PreferredStockVotingRights_c20250101__20250331__us-gaap--StatementClassOfStockAxis__custom--ConvertibleSeriesDPreferredStockMember" TITLE="Preferred stock voting rights">Each
share of Series D Convertible Preferred Stock has 333 votes</FONT> (subject to standard anti-dilution adjustment); provided that in
no event may a holder of Series D Convertible Preferred Stock be entitled to vote a number of shares in excess of such
holder&#8217;s Beneficial Ownership Limitation (as defined in the Certificate of Designation and as described below). Each share of
Series D Convertible Preferred Stock is convertible, at any time and from time to time, at the option of the holder, into that
number of shares of common stock (subject to the Beneficial Ownership Limitation) determined by dividing the stated value of such
share ($1,000) by the conversion price, which is $<FONT ID="xdx_90B_eus-gaap--PreferredStockConvertibleConversionPrice_c20250331__us-gaap--StatementClassOfStockAxis__custom--ConvertibleSeriesDPreferredStockMember_pdd" TITLE="Conversion price">3.00</FONT>
(subject to adjustment). The Company shall not effect any conversion of the Series D Convertible Preferred Stock, and a holder shall
not have the right to convert any portion of the Series D Convertible Preferred Stock, to the extent that after giving effect to the
conversion sought by the holder such holder (together with such holder&#8217;s Attribution Parties (as defined in the Certificate of
Designation)) would beneficially own more than 4.99% (or upon election by a holder, 19.99%) of the number of shares of common stock
outstanding immediately after giving effect to the issuance of shares of common stock issuable upon such conversion (the
&#8220;Beneficial Ownership Limitation&#8221;). All but one of the holders of the Series D Convertible Preferred Stock elected the
19.99% Beneficial Ownership Limitation. The Company shall reserve and keep available out of its authorized and unissued Common
Stock, solely for the issuance upon the conversion of the Series D Convertible Preferred Stock, such a number of shares of Common
Stock as shall from time to time be issuable upon the conversion of all of the shares of the Series D Convertible Preferred Stock
then outstanding. Additionally, the Series D Convertible Preferred Stock does not have the right to dividends and in the event of an
involuntary liquidation, the Series D Convertible Preferred Stock shall be treated as a pro rata equivalent of common stock outstanding at the date of
the liquidation event and have no liquidation preference.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0">&#160;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify">On September 30, 2022, the Company entered into a
Securities Purchase Agreement (the &#8220;Purchase Agreement&#8221;) with certain existing investors in the Company (the &#8220;Purchasers&#8221;).
Pursuant to the Purchase Agreement, the Purchasers purchased <FONT ID="xdx_907_eus-gaap--PreferredStockSharesIssued_iI_c20220930__us-gaap--TypeOfArrangementAxis__custom--PurchaseAgreementMember__us-gaap--StatementClassOfStockAxis__custom--ConvertibleSeriesDPreferredStockMember_zwEotT938717" TITLE="Preferred stock, shares issued">999</FONT> shares of the newly authorized Series D Convertible Preferred Stock,
and the Company received proceeds of $<FONT ID="xdx_901_eus-gaap--ProceedsFromIssuanceOfConvertiblePreferredStock_pp0p0_c20220929__20220930__us-gaap--StatementClassOfStockAxis__custom--ConvertibleSeriesDPreferredStockMember__us-gaap--TypeOfArrangementAxis__custom--PurchaseAgreementMember_zXRgUMzrGJXg" TITLE="Proceeds from convertible preferred stock">999,000</FONT>. The Purchase Agreement contains customary representations, warranties, agreements and indemnification
rights and obligations of the parties. On October 29, 2022, the Company entered into a Securities Purchase Agreement (the &#8220;Purchase
Agreement&#8221;) with a certain existing investor in the Company (the &#8220;Purchaser&#8221;). Pursuant to the Purchase Agreement, the
Purchaser purchased <FONT ID="xdx_909_eus-gaap--PreferredStockSharesIssued_iI_c20221029__us-gaap--StatementClassOfStockAxis__custom--ConvertibleSeriesDPreferredStockMember__us-gaap--TypeOfArrangementAxis__custom--PurchaseAgreementMember_zbwX0vKCTQU4" TITLE="Preferred stock, shares issued">300</FONT> shares of the newly authorized Series D Convertible Preferred Stock, and the Company received proceeds of $<FONT ID="xdx_902_eus-gaap--ProceedsFromIssuanceOfConvertiblePreferredStock_pp0p0_c20221028__20221029__us-gaap--StatementClassOfStockAxis__custom--ConvertibleSeriesDPreferredStockMember__us-gaap--TypeOfArrangementAxis__custom--PurchaseAgreementMember_z3ZiOZkwYaV3" TITLE="Proceeds from convertible preferred stock">300,000</FONT>.
The Purchase Agreement contains customary representations, warranties, agreements and indemnification rights and obligations of the parties.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify">&#160;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify">At the Annual Meeting on May 16, 2023, the stockholders approved the
convertibility of the Series D Convertible Preferred Stock into common stock.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify">&#160;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify">On March 22, 2024, March 28, 2024, and April 3,
2024, the Company entered into Securities Purchase Agreements (the &#8220;Purchase Agreements&#8221;) with certain existing and
other accredited investors (the &#8220;2024 Purchasers&#8221;). Pursuant to the Purchase Agreements, the 2024 Purchasers purchased
an aggregate of <FONT ID="xdx_902_eus-gaap--StockIssuedDuringPeriodSharesNewIssues_c20250101__20250331__us-gaap--StatementClassOfStockAxis__custom--ConvertibleSeriesDPreferredStockMember_pdd" TITLE="Number of shares issued, shares">870</FONT>
shares of Series D Convertible Preferred Stock, at a price of $<FONT ID="xdx_90E_eus-gaap--SharePrice_c20250331__us-gaap--StatementClassOfStockAxis__custom--ConvertibleSeriesDPreferredStockMember_pdd" TITLE="Share price">1,000</FONT>
per share, and the Company received proceeds of $<FONT ID="xdx_90E_eus-gaap--ProceedsFromIssuanceOfConvertiblePreferredStock_c20250101__20250331__us-gaap--StatementClassOfStockAxis__custom--ConvertibleSeriesDPreferredStockMember_pp0p0" TITLE="Proceeds from convertible preferred stock">870,000</FONT>.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify">&#160;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify">In February of 2025, <FONT ID="xdx_900_eus-gaap--PreferredStockSharesOutstanding_iI_c20250228__us-gaap--StatementClassOfStockAxis__custom--ConvertibleSeriesDPreferredStockMember_z41kBnr49Lrg" TITLE="Preferred stock, shares outstanding">300</FONT>
outstanding shares of Series D Convertible Preferred Stock were converted into <FONT ID="xdx_901_eus-gaap--ConversionOfStockSharesConverted1_c20250201__20250228__us-gaap--StatementClassOfStockAxis__custom--ConvertibleSeriesDPreferredStockMember_zbuqDUciuBq7" TITLE="Converted shares">100,000</FONT>
shares of common stock. As of March 31, 2025 and December 31, 2024, respectively, there were <FONT ID="xdx_908_eus-gaap--PreferredStockSharesIssued_iI_c20250331__us-gaap--StatementClassOfStockAxis__custom--ConvertibleSeriesDPreferredStockMember_zAYUoFla8M9f" TITLE="Preferred stock, shares issued">999</FONT>
and <FONT ID="xdx_900_eus-gaap--PreferredStockSharesOutstanding_iI_c20241231__us-gaap--StatementClassOfStockAxis__custom--ConvertibleSeriesDPreferredStockMember_zQnaCHPDKrJg" TITLE="Preferred stock, shares outstanding">1,299</FONT>
shares of Series D Convertible Preferred Stock issued and outstanding.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify">&#160;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify">In connection with such Purchase Agreements, the Company entered into
Registration Rights Agreements and filed registration statements with the SEC covering the resale by the Purchasers of the shares of common
stock into which the shares of Series D Convertible Preferred Stock are convertible. The Registration Rights Agreements contain customary
representations, warranties, agreements and indemnification rights and obligations of the parties.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify">&#160;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify"> The Registration Rights Agreements
contain provisions for liquidated damages equal to 1% multiplied by the aggregate subscription amount paid, paid each month, in the event
certain deadlines are missed.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify">&#160;</P>

<P ID="xdx_23C_zeNRWX3CvZfi" STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify">&#160;</P>


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<P STYLE="font: 4pt Times New Roman, Times, Serif; margin: 0">&#160;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0"><B><FONT STYLE="text-decoration: underline">Series E Convertible Preferred Stock</FONT></B></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify">&#160;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify">The Company&#8217;s Board of Directors has designated
<FONT ID="xdx_90F_ecustom--PreferredStockSharesAvailableToBeDesignated_iI_c20250331__us-gaap--StatementClassOfStockAxis__custom--ConvertibleSeriesEPreferredStockMember_zycWfGjiLUS1" TITLE="Preferred stock, shares designated">30,000</FONT> shares as the Series E Convertible Preferred Stock (the &#8220;Series E Convertible Preferred Stock&#8221;). Each share of the
Series E Convertible Preferred Stock has a stated value of $<FONT ID="xdx_90E_eus-gaap--SharePrice_iI_c20250331__us-gaap--StatementClassOfStockAxis__custom--ConvertibleSeriesEPreferredStockMember_zk5V0VBGGJ8j" TITLE="Share price">1,000</FONT>. The holders of the Series E Convertible Preferred Stock, the holders
of the common stock and the holders of any other class or series of shares entitled to vote with the common stock shall vote as one class
on all matters submitted to a vote of shareholders of the Company. <FONT ID="xdx_901_eus-gaap--PreferredStockVotingRights_c20250101__20250331__us-gaap--StatementClassOfStockAxis__custom--ConvertibleSeriesEPreferredStockMember" TITLE="Preferred stock voting rights">Each share of Series E Convertible Preferred Stock has 333 votes</FONT> (subject
to adjustment); provided that in no event may a holder of Series E Convertible Preferred Stock be entitled to vote a number of shares
in excess of such holder&#8217;s Beneficial Ownership Limitation. Each share of Series E Convertible Preferred Stock is convertible at
any time and from time to time, at the option of the holder, into that number of shares of common stock (subject to the Beneficial Ownership
Limitation) determined by dividing the stated value of such share ($1,000) by the conversion price, which is $<FONT ID="xdx_908_eus-gaap--PreferredStockConvertibleConversionPrice_c20250331__us-gaap--StatementClassOfStockAxis__custom--ConvertibleSeriesEPreferredStockMember_pdd" TITLE="Conversion price">3.00</FONT> (subject to adjustment)
(see adjustment below to $2.61). The Company shall not effect any conversion of the Series E Convertible Preferred Stock, and the holder
shall not have the right to convert any portion of the Series E Convertible Preferred Stock, to the extent that after giving effect to
the conversion sought by the holder such holder (together with such holder&#8217;s Attribution Parties (as defined in the Certificate
of Designation)) would beneficially own more than 4.99% (or upon election by a holder, 19.99%) of the number of shares of common stock
outstanding immediately after giving effect to the issuance of shares of common stock issuable upon such conversion (the &#8220;Beneficial
Ownership Limitation&#8221;). All but one of the holders of the Series E Preferred Stock elected the 19.99% Beneficial Ownership Limitation.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify">&#160;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify">The Company on March 27, 2023 entered into a Securities
Purchase Agreement (the &#8220;Purchase Agreement&#8221;) with an existing investor in the Company (the &#8220;Purchaser&#8221;). Pursuant
to the Purchase Agreement, the Purchaser purchased <FONT ID="xdx_909_eus-gaap--PreferredStockSharesIssued_iI_c20230327__us-gaap--StatementClassOfStockAxis__custom--ConvertibleSeriesEPreferredStockMember_zJArRdlagWs4" TITLE="Preferred stock, shares issued">4,000</FONT> shares of a newly authorized Series E Convertible Preferred Stock at a price
of $<FONT ID="xdx_902_eus-gaap--PreferredStockParOrStatedValuePerShare_iI_c20230327__us-gaap--StatementClassOfStockAxis__custom--ConvertibleSeriesEPreferredStockMember_zffayJEKQG8a" TITLE="Preferred stock, par value">1,000</FONT> per share, and the Company received proceeds of $<FONT ID="xdx_900_eus-gaap--ProceedsFromIssuanceOfConvertiblePreferredStock_pp0p0_c20230326__20230327__us-gaap--StatementClassOfStockAxis__custom--ConvertibleSeriesEPreferredStockMember__us-gaap--TypeOfArrangementAxis__custom--PurchaseAgreementMember_zCYwJBEnyLRe" TITLE="Proceeds from convertible preferred stock">4,000,000</FONT>. The Purchase Agreement contains customary representations, warranties,
agreements and indemnification rights and obligations of the parties.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify">&#160;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify">The existing investor&#8217;s Purchase Agreement also
provided that the Company would not, with certain exceptions, sell or issue common stock or Common Stock Equivalents (as defined in the
Purchase Agreement) on or prior to December 31, 2023 that entitled any person to acquire shares of common stock at an effective price
per share less than the then conversion price of the Series E Convertible Preferred Stock without the consent of the Purchaser.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify">&#160;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify">On November 9, 2023, the Company entered into a Securities
Purchase Agreement (the &#8220;November Purchase Agreement&#8221;) with an existing investor in the Company (the &#8220;Purchaser&#8221;).
Pursuant to the Purchase Agreement, the Purchaser purchased <FONT ID="xdx_904_eus-gaap--StockIssuedDuringPeriodSharesNewIssues_c20231108__20231109__us-gaap--StatementClassOfStockAxis__custom--ConvertibleSeriesEPreferredStockMember_pdd" TITLE="Number of shares issued, shares">2,500</FONT> shares of Series E Convertible Preferred Stock, at a price of $<FONT ID="xdx_900_eus-gaap--SharePrice_c20231109__us-gaap--StatementClassOfStockAxis__custom--ConvertibleSeriesEPreferredStockMember_pdd" TITLE="Share price">1,000</FONT>
per share, and the Company received proceeds of $<FONT ID="xdx_904_eus-gaap--ProceedsFromIssuanceOfConvertiblePreferredStock_pp0p0_c20231108__20231109__us-gaap--StatementClassOfStockAxis__custom--ConvertibleSeriesEPreferredStockMember_z1zH0pFBxonb" TITLE="Proceeds from convertible preferred stock">2,500,000</FONT>.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify">&#160;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify">The November Purchase Agreement also provided that
the Company would not, with certain exceptions, sell or issue common stock or Common Stock Equivalents (as defined in the November Purchase
Agreement) on or prior to June 30, 2024 that entitled any person to acquire shares of common stock at an effective price per share less
than the then conversion price of the Series E Convertible Preferred Stock, which was $<FONT ID="xdx_90A_eus-gaap--PreferredStockConvertibleConversionPrice_iI_c20231110__us-gaap--StatementClassOfStockAxis__custom--ConvertibleSeriesEPreferredStockMember_zZHyNqyKSqtg" TITLE="Conversion price">3.00</FONT> per share, without the consent of the Purchasers.
If the Company sold shares less than the then conversion price, with the consent of purchasers, then the Series E conversion price would
be amended to that lower share price. This provision was not triggered as of June 30, 2024.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify">&#160;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify">The Purchasers under the November Purchase Agreement
also were the holders of the Company&#8217;s Series F Convertible Preferred Stock issued on August 1, 2023. The purchase agreement relating
to the shares of Series F Convertible Preferred Stock required the consent of the holders in the event the Company were to issue common
stock or rights to acquire common stock prior to December 31, 2023 at an effective price per share less than the then conversion price
of the Series F Convertible Preferred Stock, which was $6.20 per share. As a result, on November 10, 2023 the Company and the holders
of the Series F Convertible Preferred Stock entered into Exchange Agreements pursuant to which the holders of Series F Convertible Preferred
Stock exchanged their 5,000 shares of Series F Convertible Preferred Stock for an equal number of shares of Series E Convertible Preferred
Stock. As a result of the November Purchase Agreement and the Exchange Agreements, the Company issued a total of <FONT ID="xdx_90B_eus-gaap--SharesIssued_iI_c20231110__us-gaap--StatementClassOfStockAxis__custom--ConvertibleSeriesEPreferredStockMember_zQbDhJuRLaNb" TITLE="Additional shares">7,500</FONT> shares of Series
E Convertible Preferred Stock and the <FONT ID="xdx_904_ecustom--StockExchangeShares_iI_c20231110__us-gaap--StatementClassOfStockAxis__custom--ConvertibleSeriesEPreferredStockMember_z8tGww3ZQxx9" TITLE="Exchange of shares">5,000</FONT> shares of Series F Convertible Preferred Stock were cancelled.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify">&#160;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify">On March 22, 2024 and March 28, 2024, the Company
entered into Securities Purchase Agreements (the &#8220;Purchase Agreements&#8221;) with certain existing and other accredited investors
(the &#8220;2024 Purchasers&#8221;). Pursuant to the Purchase Agreements, the 2024 Purchasers purchased an aggregate of <FONT ID="xdx_903_eus-gaap--StockIssuedDuringPeriodSharesNewIssues_c20240322__20240328__us-gaap--StatementClassOfStockAxis__custom--ConvertibleSeriesEPreferredStockMember_pdd" TITLE="Number of shares issued, shares">2,125</FONT> shares of
Series E Convertible Preferred Stock, at a price in each case of $<FONT ID="xdx_904_eus-gaap--SharePrice_c20250328__us-gaap--StatementClassOfStockAxis__custom--ConvertibleSeriesEPreferredStockMember_pdd" TITLE="Share price">1,000</FONT> per share, and the Company received proceeds of $<FONT ID="xdx_905_eus-gaap--StockIssuedDuringPeriodValueNewIssues_c20240322__20240328__us-gaap--StatementClassOfStockAxis__custom--ConvertibleSeriesEPreferredStockMember_pp0p0" TITLE="Total net proceeds">2,125,002</FONT>. Those
purchase agreements had similar price protections as the November Purchase Agreement but extended the price protection date to December
31, 2024, for all Series E holders.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify">&#160;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify">On September 19, 2024, the conversion price was lowered to $2.61 from $<FONT ID="xdx_90C_eus-gaap--PreferredStockConvertibleConversionPrice_iI_c20250331__us-gaap--StatementClassOfStockAxis__custom--ConvertibleSeriesEPreferredStockMember_z3SXz9S0DLj7" TITLE="Conversion price">3.00</FONT> per share based on the
down-round protection provision triggered by the warrants induced exercise price of $2.61 per share. This will lead to the issuance of
an additional 678,640 shares of common stock upon the conversion of the preferred shares.</P>

<P ID="xdx_230_zVeOCXz67Muh" STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify">&#160;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify"></P>

<!-- Field: Page; Sequence: 146 -->
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    <!-- Field: /Page -->

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify">&#160;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify">In October 2024, <FONT ID="xdx_903_eus-gaap--ConversionOfStockSharesConverted1_c20241001__20241031__us-gaap--StatementClassOfStockAxis__custom--ConvertibleSeriesEPreferredStockMember_pdd" TITLE="Converted shares">125</FONT> outstanding shares of the Series
E Preferred Stock were converted into <FONT ID="xdx_907_eus-gaap--ConvertiblePreferredStockSharesIssuedUponConversion_c20241031__us-gaap--StatementClassOfStockAxis__custom--ConvertibleSeriesEPreferredStockMember_pdd" TITLE="Converted shares issued">47,892</FONT> shares of common stock.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify"></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify">&#160;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify">In connection with such Purchase Agreements, the Company
also entered into Registration Rights Agreements with the Purchasers. Pursuant to the Registration Rights Agreements, the Company filed
with the SEC registration statements covering the resale by the Purchasers of the shares of common stock into which the shares of Series
E Convertible Preferred Stock are convertible.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify">&#160;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify">The Registration Rights Agreements contain customary
representations, warranties, agreements and indemnification rights and obligations of the parties. The Registration Rights Agreements
contain provisions for liquidated damages equal to 1% multiplied by the aggregate subscription amount paid, paid each month, in the event
certain deadlines are missed.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify">&#160;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify">As of March 31, 2025 and December 31, 2024, respectively,
there were <FONT ID="xdx_901_eus-gaap--PreferredStockSharesIssued_iI_c20250331__us-gaap--StatementClassOfStockAxis__custom--ConvertibleSeriesEPreferredStockMember_zR35W6MG5vs9" TITLE="Preferred stock, shares issued">13,500</FONT> and <FONT ID="xdx_903_eus-gaap--PreferredStockSharesOutstanding_iI_c20241231__us-gaap--StatementClassOfStockAxis__custom--ConvertibleSeriesEPreferredStockMember_zW1AsucXJju8" TITLE="Preferred stock, shares outstanding">13,500</FONT> shares of Series E Convertible Preferred Stock issued and outstanding.<B></B></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify"><B>&#160;</B></P>


<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify"><B>Series F Convertible Preferred Stock</B></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify"></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify">&#160;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify">The Company's Board of Directors designated <FONT ID="xdx_90D_ecustom--PreferredStockSharesAvailableToBeDesignated_iI_c20250331__us-gaap--StatementClassOfStockAxis__custom--ConvertibleSeriesFPreferredStockMember_zg8wnY1vFT22" TITLE="Preferred stock, shares designated">5,000</FONT>
shares as the Series F Convertible Preferred Stock. Each share of Series F Convertible Preferred Stock was convertible, at any time and from
time to time, at the option of the holder, into that number of shares of common stock (subject to the beneficial ownership
limitation described below) determined by dividing the stated value of such share ($<FONT ID="xdx_906_eus-gaap--PreferredStockParOrStatedValuePerShare_iI_c20250331__us-gaap--StatementClassOfStockAxis__custom--ConvertibleSeriesFPreferredStockMember_zEtNtmXd6zgc" TITLE="Preferred stock, par value">1,000</FONT>)
by the conversion price, which is $<FONT ID="xdx_909_eus-gaap--PreferredStockConvertibleConversionPrice_c20250331__us-gaap--StatementClassOfStockAxis__custom--ConvertibleSeriesFPreferredStockMember_pdd" TITLE="Conversion price">6.20</FONT>
(subject to adjustment) which equates to 161 common shares for each converted Series F Convertible Preferred Share. The Company, however, shall
not effect any conversion of the Series F Convertible Preferred Stock, and the holder shall not have the right to convert any portion of the
Series F Convertible Preferred Stock, to the extent that after giving effect to the conversion sought by the holder such holder (together with
such holder&#8217;s Attribution Parties (as defined in the Certificate of Designation)) would beneficially own more than 4.99% (or
upon election by a holder, 19.99%) of the number of shares of common stock outstanding immediately after giving effect to the
issuance of shares of common stock issuable upon such conversion. The purchasers of the Series F Convertible Preferred Stock elected that their
ownership limitation would be 19.99%.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify">&#160;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify">The holders of the Series F Convertible Preferred Stock, the holders
of the common stock and the holders of any other class or series of shares entitled to vote with the common stock shall vote together
as one class on all matters submitted to a vote of shareholders of the Company. <FONT ID="xdx_900_eus-gaap--PreferredStockVotingRights_c20250101__20250331__us-gaap--StatementClassOfStockAxis__custom--ConvertibleSeriesFPreferredStockMember" TITLE="Preferred stock voting rights">Each share of Series F Convertible Preferred Stock had 161 votes</FONT> (subject
to adjustment); provided that in no event may a holder of Series F Convertible Preferred Stock be entitled to vote a number of shares in excess of
such holder&#8217;s ownership limitation.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify">&#160;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify">On August 2, 2023, the Company entered into a Securities
Purchase Agreement (the &#8220;Purchase Agreement&#8221;) with an existing, accredited investor in the Company (the &#8220;Purchaser&#8221;).
Pursuant to the Purchase Agreement, the Purchaser purchased 5,000 shares of a newly authorized Series F Convertible Preferred Stock (the
&#8220;Series F Convertible Preferred Stock&#8221;), and the Company received proceeds of $<FONT ID="xdx_901_eus-gaap--ProceedsFromIssuanceOfConvertiblePreferredStock_c20230730__20230802__us-gaap--StatementClassOfStockAxis__custom--ConvertibleSeriesFPreferredStockMember_pp0p0_z4BAq3OA5l13" TITLE="Proceeds from convertible preferred stock">5,000,000</FONT>. The Purchase Agreement contains
customary representations, warranties, agreements and indemnification rights and obligations of the parties.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify">&#160;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify">The Company also agreed that it would not, with certain
exceptions, sell or issue common stock or Common Stock Equivalents (as defined in the Purchase Agreement relating to the Series F Convertible Preferred
Stock) on or prior to December 31, 2023 that entitled any person to acquire shares of common stock at an effective price per share less
than the then conversion price of the Series F Convertible Preferred Stock without the consent of the holders. As a result of that agreement, upon
the issuance of <FONT ID="xdx_90C_eus-gaap--SharesIssued_iI_c20231110__us-gaap--StatementClassOfStockAxis__custom--ConvertibleSeriesFPreferredStockMember_zL9K02rUn1Re" TITLE="Additional shares">2,500</FONT> shares of Series E Convertible Preferred Stock (which had a conversion price of $3.00 per share) on November 10, 2023, the holders
exchanged their <FONT ID="xdx_907_ecustom--NumberOfSharesExchanged_iI_c20231110__us-gaap--StatementClassOfStockAxis__custom--ConvertibleSeriesFPreferredStockMember_zArPS8ZGOHtf" TITLE="Number of shares exchanged">5,000</FONT> shares of Series F Preferred Stock for <FONT ID="xdx_903_eus-gaap--PreferredStockSharesIssued_iI_c20231110__us-gaap--StatementClassOfStockAxis__custom--ConvertibleSeriesFPreferredStockMember_zAurCrAKbuoi" TITLE="Preferred stock, shares issued"><FONT ID="xdx_904_ecustom--StockExchangeShares_iI_c20231110__us-gaap--StatementClassOfStockAxis__custom--ConvertibleSeriesFPreferredStockMember_z0XM5Hju5img" TITLE="Exchange of shares">5,000</FONT></FONT> shares of Series E Preferred Stock. All of the shares of Series F Convertible Preferred
Stock thereupon were cancelled with 0 shares now outstanding.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify">&#160;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify">As of March 31, 2025 and December 31, 2024, respectively,
there were zero <FONT ID="xdx_90B_eus-gaap--PreferredStockSharesIssued_iI_c20250331__us-gaap--StatementClassOfStockAxis__custom--ConvertibleSeriesFPreferredStockMember_zCg9X4dUzRXh" TITLE="Preferred stock, shares issued" STYLE="display: none">0</FONT> and zero <FONT ID="xdx_900_eus-gaap--PreferredStockSharesOutstanding_iI_c20241231__us-gaap--StatementClassOfStockAxis__custom--ConvertibleSeriesFPreferredStockMember_zGlwu12aojq1" TITLE="Preferred stock, shares outstanding" STYLE="display: none">0</FONT> shares of Series F Convertible Preferred Stock issued and outstanding.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify">&#160;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify"><B><FONT STYLE="text-decoration: underline">Common stock issued</FONT></B></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify"><B>&#160;</B></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify"><B>Three Months Ended March 31, 2025</B></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify"><B>&#160;</B></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify">Effective January 1, 2025, the Company&#8217;s executive
leadership team was granted a total of 1,841,898
shares of restricted stock, subject to a three-year cliff vesting schedule, with an aggregate grant-date fair value of $11,014,544 based
on a $5.98 price per share.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify"></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify">&#160;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify">On February 5, 2025, a holder of our Series D
Convertible Preferred Stock converted <FONT ID="xdx_900_eus-gaap--ConversionOfStockSharesConverted1_c20250201__20250205__us-gaap--StatementClassOfStockAxis__us-gaap--SeriesDPreferredStockMember_zAYmvdTZVSae" TITLE="Number of shares converted">300</FONT>
shares of Series D Convertible Preferred Stock into <FONT ID="xdx_906_eus-gaap--ConversionOfStockSharesIssued1_c20250201__20250205__us-gaap--StatementClassOfStockAxis__us-gaap--SeriesDPreferredStockMember_pdd" TITLE="Number of shares issued">100,000</FONT>
shares of Common Stock.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify">&#160;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify">Effective March 26, 2025, the Company issued
restricted stock awards to an employee for a total of <FONT ID="xdx_905_eus-gaap--ShareBasedCompensationArrangementByShareBasedPaymentAwardOptionsGrantsInPeriod_c20240301__20250326__us-gaap--AwardTypeAxis__us-gaap--RestrictedStockMember__srt--CounterpartyNameAxis__custom--EmployeeMember_zM2HIBAlpis8" TITLE="Restricted stock issued restricted stock awards">100,000</FONT>
shares of restricted stock with 3-year cliff vesting with an aggregate grant-date fair value of $<FONT ID="xdx_906_ecustom--RestrictedStockGrantdateFairValue_c20240301__20250326__us-gaap--AwardTypeAxis__us-gaap--RestrictedStockMember__srt--CounterpartyNameAxis__custom--EmployeeMember_zA6yGvhuy8Zd" TITLE="Restricted stock grant-date fair value">604,000</FONT> based on a $<FONT ID="xdx_90B_eus-gaap--SharePrice_iI_c20250326__us-gaap--AwardTypeAxis__us-gaap--RestrictedStockMember__srt--CounterpartyNameAxis__custom--EmployeeMember_zgRFMBbZnuL9" TITLE="Price per share">6.04</FONT> price per
share.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify">&#160;&#160;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify"> On April 1, 2025, certain
employees exercised stock options to acquire a total of <FONT ID="xdx_90D_ecustom--EmployeesExercisedStockOptions_c20250329__20250401__srt--CounterpartyNameAxis__custom--EmployeeMember_z59dpNQPt9gb" TITLE="Employees exercised stock options">27,712</FONT> shares of the Company&#8217;s common stock, generating total gross proceeds
of  $<FONT ID="xdx_903_eus-gaap--ProceedsFromStockOptionsExercised_pp0p0_c20250329__20250401__srt--CounterpartyNameAxis__custom--EmployeeMember_zyUqZfwZkyu8" TITLE="Proceeds from exercise of stock options">107,925</FONT>, incurring stock issuance cost of $<FONT ID="xdx_90F_eus-gaap--PaymentsOfStockIssuanceCosts_pp0p0_c20250329__20250401__srt--CounterpartyNameAxis__custom--EmployeeMember_zmbEr37tr89d" TITLE="Stock issuance cost">375</FONT> and yielding net proceeds
of $107,550. The exercises were made pursuant to the Company&#8217;s 2016 and 2021 Equity Incentive Plans and were conducted
in accordance with the applicable terms of the plans and the individual award agreements.</P>

<P ID="xdx_23F_z2a3rhI8Rkxe" STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify">&#160;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify"></P>

<!-- Field: Page; Sequence: 147 -->
    <DIV STYLE="border-bottom: Black 1pt solid; margin-bottom: 6pt"><TABLE CELLPADDING="0" CELLSPACING="0" STYLE="font-size: 9pt; width: 100%"><TR><TD STYLE="text-align: center; width: 100%">F-<!-- Field: Sequence; Type: Arabic; Value: 68; Name: PageNo -->68<!-- Field: /Sequence -->&#160;</TD></TR></TABLE></DIV>
    <DIV STYLE="break-before: page; margin-top: 6pt"><TABLE CELLPADDING="0" CELLSPACING="0" ID="xdx_230_zEmEFsEr0Nz9" STYLE="width: 100%"><TR><TD STYLE="text-align: center; width: 100%"><P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: center"><B>DUOS TECHNOLOGIES GROUP, INC. AND SUBSIDIARIES</B></P><P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: center"><B>CONDENSED NOTES TO THE CONSOLIDATED FINANCIAL STATEMENTS</B></P><P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: center"><B>March 31, 2025</B></P><P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: center"><B>(Unaudited)</B></P>&#160;</TD></TR></TABLE></DIV>
    <!-- Field: /Page -->

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify">&#160;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify">During the three months ended March 31, 2025,
the Company issued an aggregate of <FONT ID="xdx_905_eus-gaap--StockIssuedDuringPeriodSharesNewIssues_c20250101__20250331_pdd" TITLE="Number of shares issued, shares">633,683</FONT>
shares of common stock at a weighted average price of $<FONT ID="xdx_90A_eus-gaap--ShareBasedCompensationArrangementByShareBasedPaymentAwardPerShareWeightedAveragePriceOfSharesPurchased_c20250331_pdd" TITLE="Weighted average price per share">6.24</FONT>
per share through its At-The-Market (ATM) offering program, generating total gross proceeds of $<FONT ID="xdx_905_eus-gaap--StockIssuedDuringPeriodValueNewIssues_c20250101__20250331_pp0p0" TITLE="Total net proceeds">3,954,940</FONT> incurring stock issuance costs of $<FONT ID="xdx_904_eus-gaap--PaymentsOfStockIssuanceCosts_pp0p0_c20250101__20250331_zMPbWbPPmyki" TITLE="Stock issuance cost">137,851</FONT> and yielding net proceeds
of $3,817,089.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify">&#160;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify">During the three months ended March 31, 2025, the
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which was expensed during the three months ended March 31, 2025. The volume-weighted average price (VWAP) per share used to value the
services is $<FONT ID="xdx_90B_eus-gaap--ShareBasedCompensationArrangementByShareBasedPaymentAwardPerShareWeightedAveragePriceOfSharesPurchased_c20250331__srt--TitleOfIndividualAxis__custom--FourDirectorsMember__us-gaap--StatementEquityComponentsAxis__us-gaap--CommonStockMember_pdd" TITLE="Weighted average price per share">5.34</FONT>.&#160;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify">&#160;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify"><B>Three Months Ended March 31, 2024</B></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify">&#160;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify">During the three months ended March 31, 2024, the
Company issued <FONT ID="xdx_907_eus-gaap--StockIssuedDuringPeriodSharesIssuedForServices_c20240101__20240331__srt--TitleOfIndividualAxis__custom--FourDirectorsMember__us-gaap--StatementEquityComponentsAxis__us-gaap--CommonStockMember_zwb6QOiQAqu6" TITLE="Stock issued for services, shares">8,655</FONT> shares of common stock for payment of board fees to four directors in the amount of $<FONT ID="xdx_904_eus-gaap--StockIssuedDuringPeriodValueIssuedForServices_pp0p0_c20240101__20240331__srt--TitleOfIndividualAxis__custom--FourDirectorsMember__us-gaap--StatementEquityComponentsAxis__us-gaap--CommonStockMember_zOfkFULwykMl" TITLE="Stock issued for services">37,500</FONT> for services to the board
which was expensed during the three months ended March 31, 2024. The volume-weighted average price (VWAP) per share used to value the
services is $<FONT ID="xdx_905_eus-gaap--ShareBasedCompensationArrangementByShareBasedPaymentAwardPerShareWeightedAveragePriceOfSharesPurchased_c20240331__srt--TitleOfIndividualAxis__custom--FourDirectorsMember__us-gaap--StatementEquityComponentsAxis__us-gaap--CommonStockMember_pdd" TITLE="Weighted average price per share">4.33</FONT>.&#160;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify">&#160;&#160;</P>

<P STYLE="font: 10pt/11pt Times New Roman, Times, Serif; margin: 0; text-align: justify"><B><FONT STYLE="text-decoration: underline">Employee Stock Purchase Plan</FONT></B></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify">&#160;</P>

<P STYLE="font: 11pt Times New Roman, Times, Serif; margin: 0; text-align: justify"><FONT STYLE="font-size: 10pt">In the fourth quarter
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with a term of <FONT ID="xdx_901_eus-gaap--SharebasedCompensationArrangementBySharebasedPaymentAwardExpirationPeriod_dtY_c20221001__20221231__us-gaap--PlanNameAxis__custom--EmployeeStockPurchasePlanMember_z8cs0XTJC3mk" TITLE="Plan, term">10</FONT> years. The ESPP allows eligible employees to purchase shares of the Company's common stock at a discounted price, through
payroll deductions from a minimum of 1% and up to 25% of their eligible compensation up to a maximum of $25,000 or the IRS allowable limit
per calendar year. The Company&#8217;s Chief Financial Officer administers the ESPP in conjunction with approvals from the Company&#8217;s
Compensation Committee, including with respect to the frequency and duration of offering periods, the maximum number of shares that an
eligible employee may purchase during an offering period, and, subject to certain limitations set forth in the ESPP, the per-share purchase
price. Currently, the maximum number of shares that can be purchased by an eligible employee under the ESPP is 10,000 shares per offering
period and there are two six-month offering periods that begin in the first and third quarters of each fiscal year. The purchase price
for one share of Common Stock under the ESPP is currently equal to <FONT ID="xdx_908_ecustom--FairMarketValuePercentage_c20221001__20221231__us-gaap--PlanNameAxis__custom--EmployeeStockPurchasePlanMember_zNlrgz1E3Te9" TITLE="Fair market value percentage">85%</FONT> of the fair market value of one share of Common Stock on the first
trading day of the offering period or the purchase date, whichever is lower (look-back feature). Although not required by the ESPP, all
payroll deductions received or held by the Company under the ESPP are segregated and deemed as &#8220;restricted cash&#8221; until the
completion of the offering period and redemption of the applicable shares and those withheld amounts are recorded as liabilities. The
ESPP employee contribution for the three months ended March 31, 2025 is less than 2</FONT><FONT STYLE="font-size: 8pt">&#160;</FONT><FONT STYLE="font-size: 10pt">%
of total cash and is not deemed material, therefore it is not presented separately on the Balance Sheet as &#8220;restricted cash&#8221;.
The maximum aggregate number of shares of the Common Stock that may be issued under the ESPP is <FONT ID="xdx_902_eus-gaap--CommonStockCapitalSharesReservedForFutureIssuance_iI_c20240630__us-gaap--PlanNameAxis__custom--EmployeeStockPurchasePlanMember_zPMMFpxYVQId" TITLE="Maximum aggregate number of shares of common stock">1,000,000</FONT> shares.</FONT></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify">&#160;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify">Under ASC 718-50 &#8220;Employee Share Purchase Plans&#8221;
the plan is considered a compensatory plan and the compensation for each six-month offering period is computed based upon the grant date
fair value of the estimated shares to be purchased based on the estimated payroll deduction withholdings. The grant date fair value was
computed as the sum of (a) 15% purchase discount off of the grant date quoted trading price of the Company&#8217;s common stock and (b)
the fair value of the look-back feature of the Company&#8217;s common stock on the grant date which consists of a call option on 85% of
a share of common stock and a put option on 15% of a share of common stock.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify">&#160;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify">As of  March 31, 2025, the Company
has an accrued liability of $<FONT ID="xdx_90C_eus-gaap--AccruedLiabilitiesCurrent_iI_pp0p0_c20250331__us-gaap--BalanceSheetLocationAxis__us-gaap--AccruedLiabilitiesMember_zvD6ZJbVYCOg" TITLE="Accrued liability">51,781</FONT> included in accrued expenses of employee contributions for the ESPP which may convert to shares of
common stock upon the close of the offering period open from January 1, 2025 to June 30, 2025. The liability is offset by restricted cash
held by the Company in the same amount for employee contributions which the Company expects to convert to common stock upon closure of
the offering period at June 30, 2025. Additionally, the Company recorded a stock-based expense associated with the ESPP for the three
months ended March 31, 2025 of $<FONT ID="xdx_902_eus-gaap--AllocatedShareBasedCompensationExpense_c20250101__20250331__us-gaap--PlanNameAxis__custom--EmployeeStockPurchasePlanMember_pp0p0" TITLE="Stock-based compensation expense">21,644</FONT>.</P>

<P ID="xdx_23C_zJBRg1nJ4r0d" STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify">&#160;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify"></P>

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<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify">&#160;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify">The Company computed the fair value of the look-back
feature call and put options for January 1, 2025 to March 31, 2025 using a Black Scholes option pricing model using the following assumptions:</P>

<TABLE CELLPADDING="0" CELLSPACING="0" ID="xdx_893_eus-gaap--FairValueAssetsAndLiabilitiesMeasuredOnRecurringAndNonrecurringBasisValuationTechniquesTableTextBlock_ziYABNBfSInb" SUMMARY="xdx: Disclosure - STOCKHOLDERS' EQUITY (Details)" STYLE="font: 11pt Arial, Helvetica, Sans-Serif; border-collapse: collapse; width: 100%">
  <TR STYLE="vertical-align: bottom">
    <TD ID="xdx_8BA_zdphHwuxFYd8" STYLE="display: none">&#160;Schedule of black scholes option pricing model using assumptions</TD><TD>&#160;</TD>
    <TD COLSPAN="2">&#160;</TD><TD>&#160;</TD></TR>
  <TR STYLE="vertical-align: bottom">
    <TD>&#160;</TD><TD STYLE="font: 8pt Times New Roman, Times, Serif; padding-bottom: 1pt">&#160;</TD>
    <TD COLSPAN="2" STYLE="border-bottom: Black 1pt solid; font: 8pt Times New Roman, Times, Serif; text-align: center"><P STYLE="font: 8pt Times New Roman, Times, Serif; margin: 0; text-align: center"><B>At</B></P> <P STYLE="font: 8pt Times New Roman, Times, Serif; margin: 0; text-align: center"><B>March 31, 2025</B></P></TD><TD STYLE="font: 8pt Times New Roman, Times, Serif; padding-bottom: 1pt">&#160;</TD></TR>
  <TR STYLE="vertical-align: bottom; background-color: rgb(204,238,255)">
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  <TR STYLE="vertical-align: bottom; background-color: White">
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    <TD STYLE="font-family: Times New Roman, Times, Serif; text-align: left">&#160;</TD><TD STYLE="font-family: Times New Roman, Times, Serif; text-align: right"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 8pt">&#160;</FONT><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">$<FONT ID="xdx_903_ecustom--ShareBasedCompensationArrangementByShareBasedPaymentsAwardFairValueAssumptionsExercisePrice_c20250101__20250331__us-gaap--AwardTypeAxis__us-gaap--EmployeeStockOptionMember__srt--RangeAxis__srt--MinimumMember_zmLd2qpnkf3k" TITLE="Grant date exercise price">4.79</FONT></FONT></TD><TD STYLE="font-family: Times New Roman, Times, Serif; text-align: left">&#160;</TD></TR>
  <TR STYLE="vertical-align: bottom; background-color: rgb(204,238,255)">
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  <TR STYLE="vertical-align: bottom; background-color: White">
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  <TR STYLE="vertical-align: bottom; background-color: rgb(204,238,255)">
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  <TR STYLE="vertical-align: bottom; background-color: White">
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<P ID="xdx_8AE_zPGiEWrAVO0b" STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify">&#160;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify">During the offer period, the Company records stock-based
compensation pro rata as an expense and a credit to additional paid-in capital. The following table discloses relevant information for
the ESPP at March 31, 2025 and for three months then ended.</P>

<TABLE CELLPADDING="0" CELLSPACING="0" ID="xdx_894_eus-gaap--ScheduleOfShareBasedCompensationEmployeeStockPurchasePlanActivityTableTextBlock_zUuZ5kofWpTc" SUMMARY="xdx: Disclosure - STOCKHOLDERS' EQUITY (Details 1)" STYLE="font: 10pt Times New Roman, Times, Serif; border-collapse: collapse; width: 100%">
  <TR STYLE="vertical-align: bottom">
    <TD ID="xdx_8B3_zKfEVR3nbOYj" STYLE="display: none; font-size: 11pt">&#160;Schedule of stock-based compensation</TD><TD STYLE="font-size: 11pt">&#160;</TD>
    <TD COLSPAN="2" ID="xdx_49B_20250331_zbFUdoJQuWv3" STYLE="font-size: 11pt; text-align: center">&#160;</TD><TD STYLE="font-size: 11pt">&#160;</TD></TR>
  <TR STYLE="vertical-align: bottom">
    <TD STYLE="font-size: 11pt">&#160;</TD><TD STYLE="font-size: 8pt; font-weight: bold; padding-bottom: 1pt">&#160;</TD>
    <TD COLSPAN="2" STYLE="border-bottom: Black 1pt solid; font-size: 8pt; font-weight: bold; text-align: center">At <BR> March 31, 2025</TD><TD STYLE="padding-bottom: 1pt; font-size: 8pt; font-weight: bold">&#160;</TD></TR>
  <TR ID="xdx_404_ecustom--CashPaymentReceivedFromEmployeeWithholdings_iI_pp0p0_z27nNGNJ3dNi" STYLE="vertical-align: bottom; background-color: rgb(204,238,255)">
    <TD STYLE="width: 83%; text-align: left">Cash payment received from employee withholdings</TD><TD STYLE="width: 1%">&#160;</TD>
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  <TR ID="xdx_408_ecustom--CashFromEmployeeWithholdingsUsedToPurchaseSharesUnderEspp_iI_pp0p0_zpMszqzFSkq7" STYLE="vertical-align: bottom; background-color: White">
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    <TD STYLE="border-bottom: Black 1pt solid; font-size: 12pt; text-align: left">&#160;</TD><TD STYLE="border-bottom: Black 1pt solid; font-size: 12pt; text-align: right">&#8212;</TD><TD STYLE="padding-bottom: 1pt; font-size: 12pt; text-align: left">&#160;</TD></TR>
  <TR ID="xdx_403_ecustom--CashAndEsppEmployeeWithholdingLiability_iI_pp0p0_zIeEl6U2CWIh" STYLE="vertical-align: bottom; background-color: rgb(204,238,255)">
    <TD STYLE="text-align: left; padding-bottom: 2.5pt">Cash and ESPP employee withholding liability</TD><TD STYLE="padding-bottom: 2.5pt">&#160;</TD>
    <TD STYLE="border-bottom: Black 2.5pt double; text-align: left">$</TD><TD STYLE="border-bottom: Black 2.5pt double; text-align: right">51,781</TD><TD STYLE="padding-bottom: 2.5pt; text-align: left">&#160;</TD></TR>
  </TABLE>


<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify">&#160;</P>

<TABLE CELLPADDING="0" CELLSPACING="0" STYLE="font: 11pt Arial, Helvetica, Sans-Serif; border-collapse: collapse; width: 100%">
  <TR STYLE="vertical-align: bottom">
    <TD>&#160;</TD><TD>&#160;</TD>
    <TD COLSPAN="2" ID="xdx_499_20250101__20250331_zE6rzWFcBgbi" STYLE="text-align: center">&#160;</TD><TD>&#160;</TD></TR>
  <TR STYLE="vertical-align: bottom">
  <TD STYLE="padding-bottom: 1pt">&#160;<BR>
&#160;</TD>
  <TD STYLE="font: bold 8pt Times New Roman, Times, Serif; padding-bottom: 1pt">&#160;<BR>
&#160;</TD>
  <TD COLSPAN="2" STYLE="border-bottom: Black 1pt solid; font: bold 8pt Times New Roman, Times, Serif; text-align: center">For the Three Months ended<BR>
<B>March 31,</B> <B>2025</B></TD>
  <TD STYLE="font: bold 8pt Times New Roman, Times, Serif; padding-bottom: 1pt">&#160;<BR>
&#160;</TD>
</TR>
<TR ID="xdx_407_ecustom--CashFromEmployeeWithholdingsUsedToPurchaseEsppShares_z8u7vO9sssUk" STYLE="vertical-align: bottom; background-color: rgb(204,238,255)">
    <TD STYLE="font: 10pt Times New Roman, Times, Serif; text-align: justify">Cash from employee withholdings used to purchase ESPP shares</TD><TD STYLE="font: 10pt Times New Roman, Times, Serif">&#160;</TD>
    <TD STYLE="font: 10pt Times New Roman, Times, Serif; text-align: left">$</TD><TD STYLE="font: 10pt Times New Roman, Times, Serif; text-align: right">&#8212;</TD><TD STYLE="font: 10pt Times New Roman, Times, Serif; text-align: left">&#160;</TD></TR>
  <TR ID="xdx_402_eus-gaap--EmployeeBenefitsAndShareBasedCompensation_i_pp0p0" STYLE="vertical-align: bottom; background-color: White">
    <TD STYLE="font: 10pt Times New Roman, Times, Serif; width: 83%; text-align: justify; padding-bottom: 1pt">Stock based compensation expense</TD><TD STYLE="font: 10pt Times New Roman, Times, Serif; width: 1%; padding-bottom: 1pt">&#160;</TD>
    <TD STYLE="border-bottom: Black 1pt solid; font: 10pt Times New Roman, Times, Serif; width: 1%; text-align: left">&#160;</TD><TD STYLE="border-bottom: Black 1pt solid; font: 10pt Times New Roman, Times, Serif; width: 14%; text-align: right">21,644</TD><TD STYLE="font: 10pt Times New Roman, Times, Serif; width: 1%; padding-bottom: 1pt; text-align: left">&#160;</TD></TR>
  <TR ID="xdx_402_ecustom--IncreaseToEquity_zMwIRn4ya4F6" STYLE="vertical-align: bottom; background-color: rgb(204,238,255)">
    <TD STYLE="font: 10pt Times New Roman, Times, Serif; text-align: justify; padding-bottom: 2.5pt">Total increase to equity for three months ended March 31, 2025</TD><TD STYLE="font: 10pt Times New Roman, Times, Serif; padding-bottom: 2.5pt">&#160;</TD>
    <TD STYLE="border-bottom: Black 2.5pt double; font: 10pt Times New Roman, Times, Serif; text-align: left">$</TD><TD STYLE="border-bottom: Black 2.5pt double; font: 10pt Times New Roman, Times, Serif; text-align: right">21,644</TD><TD STYLE="font: 10pt Times New Roman, Times, Serif; padding-bottom: 2.5pt; text-align: left">&#160;</TD></TR>
  </TABLE>

<P ID="xdx_8AD_ztFtQ9mmVcqa" STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0">&#160;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0"></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify"><B><FONT STYLE="text-decoration: underline">Stock-Based Compensation: Options, Warrants
and Restricted Stock</FONT></B></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify"><B>&#160;</B></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify">Stock-based compensation expense recognized
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respectively, for stock options granted to employees. This expense is included in general and administration expenses in the
unaudited consolidated statements of operations. Stock-based compensation expense recognized during the periods is based on the
grant-date fair value of the portion of share-based payment awards that are ultimately expected to vest during the period. At March
31, 2025, the total compensation cost for stock options not yet recognized was $<FONT ID="xdx_903_eus-gaap--EmployeeServiceShareBasedCompensationNonvestedAwardsTotalCompensationCostNotYetRecognized_c20250331__us-gaap--AwardTypeAxis__us-gaap--StockOptionMember__srt--CounterpartyNameAxis__custom--EmployeesMember_pp0p0" TITLE="Unrecognized compensation cost">42,004</FONT>.
This cost will be recognized over the remaining vesting term of the options ranging from one<FONT ID="xdx_90E_eus-gaap--EmployeeServiceShareBasedCompensationNonvestedAwardsTotalCompensationCostNotYetRecognizedPeriodForRecognition1_dtY_c20250101__20250331__us-gaap--AwardTypeAxis__us-gaap--StockOptionMember__srt--CounterpartyNameAxis__custom--EmployeesMember__us-gaap--AntidilutiveSecuritiesExcludedFromComputationOfEarningsPerShareByAntidilutiveSecuritiesAxis__srt--MinimumMember_zIVpQ01wqYii" TITLE="Unrecognized compensation term" STYLE="display: none">
1</FONT> year to two<FONT ID="xdx_907_eus-gaap--EmployeeServiceShareBasedCompensationNonvestedAwardsTotalCompensationCostNotYetRecognizedPeriodForRecognition1_dtY_c20250101__20250331__us-gaap--AwardTypeAxis__us-gaap--StockOptionMember__srt--CounterpartyNameAxis__custom--EmployeesMember__us-gaap--AntidilutiveSecuritiesExcludedFromComputationOfEarningsPerShareByAntidilutiveSecuritiesAxis__srt--MaximumMember_z7u3WKtE19Lb" TITLE="Unrecognized compensation term" STYLE="display: none">
2</FONT> years.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify">&#160;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify">Stock-based compensation expense recognized
under ASC 718-10 for the three months ended March 31, 2025 and 2024, was $<FONT ID="xdx_90B_eus-gaap--AllocatedShareBasedCompensationExpense_c20250101__20250331__us-gaap--AwardTypeAxis__us-gaap--RestrictedStockUnitsRSUMember__srt--CounterpartyNameAxis__custom--EmployeesMember_pp0p0" TITLE="Stock-based compensation expense">951,973</FONT>
and $<FONT ID="xdx_90D_eus-gaap--AllocatedShareBasedCompensationExpense_c20240101__20240331__us-gaap--AwardTypeAxis__us-gaap--RestrictedStockUnitsRSUMember__srt--CounterpartyNameAxis__custom--EmployeesMember_pp0p0" TITLE="Stock-based compensation expense">0</FONT>,
respectively, for shares of restricted stock  granted to employees. During the three months ended March 31, 2025, the Company
granted a total of 1,961,898 shares of restricted stock with an aggregate grant-date fair value of $11,738,150, computed as 1,861,898 shares at $5.98 per
share and 100,000 shares at $6.04 per share. This expense is included in selling, general and administration expenses in the
unaudited consolidated statements of operations. Stock-based compensation expense recognized during the periods is based on the
grant-date fair value of the restricted stock units that are ultimately expected to vest. At March 31, 2025, the total compensation
cost for restricted stock not yet recognized was $<FONT ID="xdx_908_eus-gaap--EmployeeServiceShareBasedCompensationNonvestedAwardsTotalCompensationCostNotYetRecognized_c20250331__us-gaap--AwardTypeAxis__us-gaap--RestrictedStockUnitsRSUMember__srt--CounterpartyNameAxis__custom--EmployeesMember_pp0p0" TITLE="Unrecognized compensation cost">10,786,171</FONT>.
This cost will be recognized over the remaining vesting term of the restricted stock ranging from nine<FONT ID="xdx_904_eus-gaap--EmployeeServiceShareBasedCompensationNonvestedAwardsTotalCompensationCostNotYetRecognizedPeriodForRecognition1_dtM_c20250101__20250331__us-gaap--AwardTypeAxis__us-gaap--RestrictedStockUnitsRSUMember__srt--CounterpartyNameAxis__custom--EmployeesMember__us-gaap--AntidilutiveSecuritiesExcludedFromComputationOfEarningsPerShareByAntidilutiveSecuritiesAxis__srt--MinimumMember_zPVe7olr8XBd" TITLE="Unrecognized compensation term" STYLE="display: none">
9</FONT> months to <FONT ID="xdx_903_eus-gaap--EmployeeServiceShareBasedCompensationNonvestedAwardsTotalCompensationCostNotYetRecognizedPeriodForRecognition1_dtY_c20250101__20250331__us-gaap--AwardTypeAxis__us-gaap--RestrictedStockUnitsRSUMember__srt--CounterpartyNameAxis__custom--EmployeesMember__us-gaap--AntidilutiveSecuritiesExcludedFromComputationOfEarningsPerShareByAntidilutiveSecuritiesAxis__srt--MaximumMember_z7xKiKX2CqG5" TITLE="Unrecognized compensation term">3</FONT>
years.</P>

<P STYLE="font: 11pt Times New Roman, Times, Serif; margin: 0; text-align: justify">&#160;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify">On May 12, 2021, the Board adopted the 2021 Equity
Incentive Plan (the &#8220;2021 Plan&#8221;) providing for the issuance of up to <FONT ID="xdx_905_eus-gaap--StockIssuedDuringPeriodSharesNewIssues_c20210511__20210512__us-gaap--PlanNameAxis__custom--Plan2021Member_pdd" TITLE="Number of shares issued, shares">1,000,000</FONT> shares of our common stock. The purpose of
the 2021 Plan is to assist the Company in attracting and retaining key employees, directors and consultants and to provide incentives
to such individuals to align their interests with those of our shareholders. During the third quarter of 2021, the shareholders approved
the issuance of up to one million shares or share equivalents pursuant to the 2021 Plan. The Company filed an S-8 registration statement
in concert with the 2021 Plan which was deemed effective on August 5, 2021. The plan covers a period of ten years. On August 6, 2024,
the Board adopted an amendment to the 2021 Plan increasing the number of shares or share equivalents issuable pursuant to the 2021 Plan
to <FONT ID="xdx_90B_eus-gaap--StockIssuedDuringPeriodSharesNewIssues_c20240801__20240806__us-gaap--PlanNameAxis__custom--Plan2021Member_pdd" TITLE="Number of shares issued, shares">2,500,000</FONT> and beginning as of February 1, 2025, and for each February 1<SUP>st</SUP> thereafter, to the greater of 2,500,000 or a number
of shares based on a formula tied to the Company&#8217;s fully diluted common equivalent share capitalization, excluding warrants and
options. The amendment was approved by shareholders on September 30, 2024.</P>

<P ID="xdx_238_znkcDOxeNMtl" STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify">&#160;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify"></P>

<!-- Field: Page; Sequence: 149 -->
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<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify">&#160;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify">As of March 31, 2025, and December 31, 2024,
options to purchase a total of <FONT ID="xdx_902_eus-gaap--ShareBasedCompensationArrangementByShareBasedPaymentAwardOptionsOutstandingNumber_c20250331__us-gaap--AwardTypeAxis__us-gaap--StockOptionMember_pdd" TITLE="Number of incentive stock options">475,368</FONT>
(net of forfeitures) shares of common stock and <FONT ID="xdx_903_eus-gaap--ShareBasedCompensationArrangementByShareBasedPaymentAwardOptionsOutstandingNumber_c20241231__us-gaap--AwardTypeAxis__us-gaap--StockOptionMember_pdd" TITLE="Number of incentive stock options">606,452</FONT>
shares of common stock were outstanding, respectively. At March 31, 2025, <FONT ID="xdx_902_ecustom--ShareBasedCompensationArrangementByShareBasedPaymentAwardOptionExercisableNumber_iI_c20250331__us-gaap--AwardTypeAxis__us-gaap--StockOptionMember_zkMWachqoHQa" TITLE="Number of incentive stock options exercisable">324,246</FONT>
options were exercisable. Of the total options issued, zero <FONT ID="xdx_90A_eus-gaap--ShareBasedCompensationArrangementByShareBasedPaymentAwardOptionsOutstandingNumber_c20250331__us-gaap--PlanNameAxis__custom--Plan2016Member_pdd" TITLE="Number of incentive stock options" STYLE="display: none">0</FONT> and <FONT ID="xdx_909_eus-gaap--ShareBasedCompensationArrangementByShareBasedPaymentAwardOptionsOutstandingNumber_c20241231__us-gaap--PlanNameAxis__custom--Plan2016Member_pdd" TITLE="Number of incentive stock options">131,084</FONT> options were outstanding under the 2016 Equity Incentive
Plan, <FONT ID="xdx_906_eus-gaap--ShareBasedCompensationArrangementByShareBasedPaymentAwardOptionsOutstandingNumber_c20250331__us-gaap--PlanNameAxis__custom--Plan2021Member_pdd" TITLE="Number of incentive stock options">385,368</FONT> and <FONT ID="xdx_905_eus-gaap--ShareBasedCompensationArrangementByShareBasedPaymentAwardOptionsOutstandingNumber_c20241231__us-gaap--PlanNameAxis__custom--Plan2021Member_pdd" TITLE="Number of incentive stock options">385,368</FONT> were outstanding under the 2021 Plan and a further <FONT ID="xdx_90A_eus-gaap--ShareBasedCompensationArrangementByShareBasedPaymentAwardOptionsOutstandingNumber_c20250331__us-gaap--PlanNameAxis__custom--NonPlanMember_pdd" TITLE="Number of incentive stock options">90,000</FONT> and <FONT ID="xdx_90D_eus-gaap--ShareBasedCompensationArrangementByShareBasedPaymentAwardOptionsOutstandingNumber_c20241231__us-gaap--PlanNameAxis__custom--NonPlanMember_pdd" TITLE="Number of incentive stock options">90,000</FONT> non-plan options to purchase common
stock were outstanding as of March 31, 2025 and December 31, 2024, respectively. The non-plan options were granted to four
executives as hiring incentives, including the Company&#8217;s CEO in the fourth quarter of 2020.</P>

<TABLE CELLPADDING="0" CELLSPACING="0" ID="xdx_890_eus-gaap--ScheduleOfShareBasedCompensationStockOptionsActivityTableTextBlock_zSAkvts0R6Id" SUMMARY="xdx: Disclosure - STOCKHOLDERS' EQUITY (Details - Non plan options)" STYLE="font: 10pt Times New Roman, Times, Serif; border-collapse: collapse; width: 100%">
  <TR STYLE="vertical-align: bottom">
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    <TD COLSPAN="2" STYLE="font-size: 11pt; text-align: right">&#160;</TD><TD STYLE="font-size: 11pt">&#160;</TD><TD STYLE="font-size: 11pt">&#160;</TD>
    <TD COLSPAN="2" STYLE="font-size: 11pt; text-align: right">&#160;</TD><TD STYLE="font-size: 11pt">&#160;</TD><TD STYLE="font-size: 11pt">&#160;</TD>
    <TD COLSPAN="2" STYLE="font-size: 11pt; text-align: right">&#160;</TD><TD STYLE="font-size: 11pt">&#160;</TD><TD STYLE="font-size: 11pt">&#160;</TD>
    <TD COLSPAN="2" STYLE="font-size: 11pt; text-align: right">&#160;</TD><TD STYLE="font-size: 11pt">&#160;</TD></TR>
  <TR STYLE="vertical-align: bottom">
    <TD STYLE="padding-bottom: 1pt; text-align: left; font-size: 11pt"><FONT STYLE="font-size: 8pt"><B>&#160;</B></FONT></TD><TD STYLE="padding-bottom: 1pt; text-align: center; font-size: 11pt"><FONT STYLE="font-size: 8pt"><B>&#160;</B></FONT></TD>
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    <TD STYLE="width: 44%; text-align: left"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">Outstanding at December 31, 2023</FONT></TD><TD STYLE="width: 1%; text-align: left">&#160;</TD>
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  <TR STYLE="vertical-align: bottom; background-color: White">
    <TD STYLE="text-align: left"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">Granted</FONT></TD><TD STYLE="text-align: left">&#160;</TD>
    <TD STYLE="text-align: left">&#160;</TD><TD STYLE="text-align: right"><FONT ID="xdx_903_eus-gaap--ShareBasedCompensationArrangementByShareBasedPaymentAwardOptionsGrantsInPeriodGross_c20240101__20241231__us-gaap--AwardTypeAxis__us-gaap--StockOptionMember_zgmnKmWBzQR4" TITLE="Number of options, Granted">&#8212;</FONT></TD><TD STYLE="text-align: left">&#160;</TD><TD>&#160;</TD>
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    <TD STYLE="text-align: left">$</TD><TD STYLE="text-align: right">&#8212;</TD><TD STYLE="text-align: left">&#160;</TD></TR>
  <TR STYLE="vertical-align: bottom; background-color: rgb(204,238,255)">
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    <TD STYLE="border-bottom: Black 1pt solid; text-align: left">&#160;</TD><TD STYLE="border-bottom: Black 1pt solid; text-align: right">&#8212;</TD><TD STYLE="padding-bottom: 1pt; text-align: left">&#160;</TD><TD STYLE="padding-bottom: 1pt">&#160;</TD>
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    <TD STYLE="border-bottom: Black 2.5pt double; text-align: left">&#160;</TD><TD ID="xdx_98B_eus-gaap--ShareBasedCompensationArrangementByShareBasedPaymentAwardOptionsOutstandingNumber_iE_c20240101__20241231__us-gaap--AwardTypeAxis__us-gaap--StockOptionMember_zrMVyJo21Ml7" TITLE="Outstanding ending balance" STYLE="border-bottom: Black 2.5pt double; text-align: right">606,452</TD><TD STYLE="padding-bottom: 2.5pt; text-align: left">&#160;</TD><TD STYLE="padding-bottom: 2.5pt">&#160;</TD>
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  <TR STYLE="vertical-align: bottom; background-color: rgb(204,238,255)">
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    <TD STYLE="border-bottom: Black 2.5pt double; text-align: left">&#160;</TD><TD ID="xdx_986_eus-gaap--ShareBasedCompensationArrangementByShareBasedPaymentAwardOptionsExercisableNumber_c20241231__us-gaap--AwardTypeAxis__us-gaap--StockOptionMember_pdd" TITLE="Number of options, Exercisable" STYLE="border-bottom: Black 2.5pt double; text-align: right">442,445</TD><TD STYLE="padding-bottom: 2.5pt; text-align: left">&#160;</TD><TD STYLE="padding-bottom: 2.5pt">&#160;</TD>
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    <TD STYLE="border-bottom: Black 2.5pt double; text-align: left">&#160;</TD><TD STYLE="border-bottom: Black 2.5pt double; text-align: right"><FONT ID="xdx_904_eus-gaap--SharebasedCompensationArrangementBySharebasedPaymentAwardOptionsExercisableWeightedAverageRemainingContractualTerm1_dtY_c20240101__20241231__us-gaap--AwardTypeAxis__us-gaap--StockOptionMember_zEt2Ggw7uff1" TITLE="Weighted average remaining contractual term (Years), Exercisable">1.6</FONT></TD><TD STYLE="padding-bottom: 2.5pt; text-align: left">&#160;</TD><TD STYLE="padding-bottom: 2.5pt">&#160;</TD>
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  <TR STYLE="vertical-align: bottom; background-color: White">
    <TD STYLE="font-size: 11pt; text-align: left">&#160;</TD><TD STYLE="font-size: 11pt; text-align: left">&#160;</TD>
    <TD STYLE="font-size: 11pt; text-align: left">&#160;</TD><TD STYLE="font-size: 11pt; text-align: right">&#160;</TD><TD STYLE="font-size: 11pt; text-align: left">&#160;</TD><TD STYLE="font-size: 11pt">&#160;</TD>
    <TD STYLE="font-size: 11pt; text-align: left">&#160;</TD><TD STYLE="font-size: 11pt; text-align: right">&#160;</TD><TD STYLE="font-size: 11pt; text-align: left">&#160;</TD><TD STYLE="font-size: 11pt">&#160;</TD>
    <TD STYLE="font-size: 11pt; text-align: left">&#160;</TD><TD STYLE="font-size: 11pt; text-align: right">&#160;</TD><TD STYLE="font-size: 11pt; text-align: left">&#160;</TD><TD STYLE="font-size: 11pt">&#160;</TD>
    <TD STYLE="font-size: 11pt; text-align: left">&#160;</TD><TD STYLE="font-size: 11pt; text-align: right">&#160;</TD><TD STYLE="font-size: 11pt; text-align: left">&#160;</TD></TR>
  <TR STYLE="vertical-align: bottom; background-color: rgb(204,238,255)">
    <TD STYLE="text-align: left"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">Outstanding at December 31, 2024</FONT></TD><TD STYLE="text-align: left">&#160;</TD>
    <TD STYLE="text-align: left">&#160;</TD><TD ID="xdx_981_eus-gaap--ShareBasedCompensationArrangementByShareBasedPaymentAwardOptionsOutstandingNumber_iS_c20250101__20250331__us-gaap--AwardTypeAxis__us-gaap--StockOptionMember_zcniWn6oI6y8" TITLE="Outstanding beginning balance" STYLE="text-align: right">606,452</TD><TD STYLE="text-align: left">&#160;</TD><TD>&#160;</TD>
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    <TD STYLE="text-align: left">&#160;</TD><TD STYLE="text-align: right"><FONT ID="xdx_90A_eus-gaap--SharebasedCompensationArrangementBySharebasedPaymentAwardOptionsOutstandingWeightedAverageRemainingContractualTerm2_dtY_c20240101__20241231__us-gaap--AwardTypeAxis__us-gaap--StockOptionMember_zX2FYfNF4Uei" TITLE="Weighted average remaining contractual term (Years)">2.0</FONT></TD><TD STYLE="text-align: left">&#160;</TD><TD>&#160;</TD>
    <TD STYLE="text-align: left">$</TD><TD ID="xdx_980_eus-gaap--ShareBasedCompensationArrangementByShareBasedPaymentAwardOptionsOutstandingIntrinsicValue_iS_pp0p0_c20250101__20250331__us-gaap--AwardTypeAxis__us-gaap--StockOptionMember_zsDV45mbk9Ch" TITLE="Aggregate intrinsic value, Outstanding beginning balance" STYLE="text-align: right">514,394</TD><TD STYLE="text-align: left">&#160;</TD></TR>
  <TR STYLE="vertical-align: bottom; background-color: White">
    <TD STYLE="text-align: left"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">Granted</FONT></TD><TD STYLE="text-align: left">&#160;</TD>
    <TD STYLE="text-align: left">&#160;</TD><TD STYLE="text-align: right"><FONT ID="xdx_906_eus-gaap--ShareBasedCompensationArrangementByShareBasedPaymentAwardOptionsGrantsInPeriodGross_c20250101__20250331__us-gaap--AwardTypeAxis__us-gaap--StockOptionMember_zBF5RfjHDhld" TITLE="Number of options, Granted">&#8212;</FONT></TD><TD STYLE="text-align: left">&#160;</TD><TD>&#160;</TD>
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    <TD STYLE="text-align: left">&#160;</TD><TD STYLE="text-align: right">&#8212;</TD><TD STYLE="text-align: left">&#160;</TD><TD>&#160;</TD>
    <TD STYLE="text-align: left">$</TD><TD STYLE="text-align: right">&#8212;</TD><TD STYLE="text-align: left">&#160;</TD></TR>
  <TR STYLE="vertical-align: bottom; background-color: rgb(204,238,255)">
    <TD STYLE="padding-bottom: 1pt; text-align: left"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">Exercised/Forfeited/Expired</FONT></TD><TD STYLE="padding-bottom: 1pt; text-align: left">&#160;</TD>
    <TD STYLE="border-bottom: Black 1pt solid; text-align: left">&#160;</TD><TD ID="xdx_98B_eus-gaap--ShareBasedCompensationArrangementByShareBasedPaymentAwardOptionsForfeituresInPeriod_c20250101__20250331__us-gaap--AwardTypeAxis__us-gaap--StockOptionMember_zKJjCphiImwd" TITLE="Number of options, Exercised/Forfeited/Expired" STYLE="border-bottom: Black 1pt solid; text-align: right">131,084</TD><TD STYLE="padding-bottom: 1pt; text-align: left">&#160;</TD><TD STYLE="padding-bottom: 1pt">&#160;</TD>
    <TD STYLE="border-bottom: Black 1pt solid; text-align: left">$</TD><TD ID="xdx_984_eus-gaap--ShareBasedCompensationArrangementByShareBasedPaymentAwardOptionsForfeituresAndExpirationsInPeriodWeightedAverageExercisePrice_c20250101__20250331__us-gaap--AwardTypeAxis__us-gaap--StockOptionMember_zf5tRg46dR1c" TITLE="Weighted average exercise price, Exercised/forfeited/expired" STYLE="border-bottom: Black 1pt solid; text-align: right">5.39</TD><TD STYLE="padding-bottom: 1pt; text-align: left">&#160;</TD><TD STYLE="padding-bottom: 1pt">&#160;</TD>
    <TD STYLE="border-bottom: Black 1pt solid; text-align: left">&#160;</TD><TD STYLE="border-bottom: Black 1pt solid; text-align: right">&#8212;</TD><TD STYLE="padding-bottom: 1pt; text-align: left">&#160;</TD><TD STYLE="padding-bottom: 1pt">&#160;</TD>
    <TD STYLE="border-bottom: Black 1pt solid; text-align: left">$</TD><TD STYLE="border-bottom: Black 1pt solid; text-align: right">&#8212;</TD><TD STYLE="padding-bottom: 1pt; text-align: left">&#160;</TD></TR>
  <TR STYLE="vertical-align: bottom; background-color: White">
    <TD STYLE="padding-bottom: 2.5pt; text-align: left"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">Outstanding at March 31, 2025</FONT></TD><TD STYLE="padding-bottom: 2.5pt; text-align: left">&#160;</TD>
    <TD STYLE="border-bottom: Black 2.5pt double; text-align: left">&#160;</TD><TD ID="xdx_98F_eus-gaap--ShareBasedCompensationArrangementByShareBasedPaymentAwardOptionsOutstandingNumber_iE_c20250101__20250331__us-gaap--AwardTypeAxis__us-gaap--StockOptionMember_zLn5g3o1b1Ji" TITLE="Outstanding ending balance" STYLE="border-bottom: Black 2.5pt double; text-align: right">475,368</TD><TD STYLE="padding-bottom: 2.5pt; text-align: left">&#160;</TD><TD STYLE="padding-bottom: 2.5pt">&#160;</TD>
    <TD STYLE="border-bottom: Black 2.5pt double; text-align: left">$</TD><TD ID="xdx_98F_eus-gaap--ShareBasedCompensationArrangementByShareBasedPaymentAwardOptionsOutstandingWeightedAverageExercisePrice_iE_c20250101__20250331__us-gaap--AwardTypeAxis__us-gaap--StockOptionMember_z2ARh3XpDuEe" TITLE="Weighted average exercise price, Outstanding ending balance" STYLE="border-bottom: Black 2.5pt double; text-align: right">5.27</TD><TD STYLE="padding-bottom: 2.5pt; text-align: left">&#160;</TD><TD STYLE="padding-bottom: 2.5pt">&#160;</TD>
    <TD STYLE="border-bottom: Black 2.5pt double; text-align: left">&#160;</TD><TD STYLE="border-bottom: Black 2.5pt double; text-align: right"><FONT ID="xdx_907_eus-gaap--SharebasedCompensationArrangementBySharebasedPaymentAwardOptionsOutstandingWeightedAverageRemainingContractualTerm2_dtY_c20250101__20250331__us-gaap--AwardTypeAxis__us-gaap--StockOptionMember_zQ04htrplwje" TITLE="Weighted average remaining contractual term (Years)">2.3</FONT></TD><TD STYLE="padding-bottom: 2.5pt; text-align: left">&#160;</TD><TD STYLE="padding-bottom: 2.5pt">&#160;</TD>
    <TD STYLE="border-bottom: Black 2.5pt double; text-align: left">$</TD><TD ID="xdx_98B_eus-gaap--ShareBasedCompensationArrangementByShareBasedPaymentAwardOptionsOutstandingIntrinsicValue_iE_pp0p0_c20250101__20250331__us-gaap--AwardTypeAxis__us-gaap--StockOptionMember_zbRpeFFmeiOa" TITLE="Aggregate intrinsic value, Outstanding ending balance" STYLE="border-bottom: Black 2.5pt double; text-align: right">351,353</TD><TD STYLE="padding-bottom: 2.5pt; text-align: left">&#160;</TD></TR>
  <TR STYLE="vertical-align: bottom; background-color: rgb(204,238,255)">
    <TD STYLE="padding-bottom: 2.5pt; text-align: left"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">Exercisable at March 31, 2025</FONT></TD><TD STYLE="padding-bottom: 2.5pt; text-align: left">&#160;</TD>
    <TD STYLE="border-bottom: Black 2.5pt double; text-align: left">&#160;</TD><TD ID="xdx_98E_eus-gaap--ShareBasedCompensationArrangementByShareBasedPaymentAwardOptionsExercisableNumber_iI_c20250331__us-gaap--AwardTypeAxis__us-gaap--StockOptionMember_zpvO2nEdFYZi" TITLE="Number of options, Exercisable" STYLE="border-bottom: Black 2.5pt double; text-align: right">324,246</TD><TD STYLE="padding-bottom: 2.5pt; text-align: left">&#160;</TD><TD STYLE="padding-bottom: 2.5pt">&#160;</TD>
    <TD STYLE="border-bottom: Black 2.5pt double; text-align: left">$</TD><TD ID="xdx_98F_eus-gaap--ShareBasedCompensationArrangementByShareBasedPaymentAwardOptionsExercisableWeightedAverageExercisePrice_iI_c20250331__us-gaap--AwardTypeAxis__us-gaap--StockOptionMember_zAqmUpEUR355" TITLE="Weighted average exercise price, Exercisable" STYLE="border-bottom: Black 2.5pt double; text-align: right">5.76</TD><TD STYLE="padding-bottom: 2.5pt; text-align: left">&#160;</TD><TD STYLE="padding-bottom: 2.5pt">&#160;</TD>
    <TD STYLE="border-bottom: Black 2.5pt double; text-align: left">&#160;</TD><TD STYLE="border-bottom: Black 2.5pt double; text-align: right"><FONT ID="xdx_90F_eus-gaap--SharebasedCompensationArrangementBySharebasedPaymentAwardOptionsExercisableWeightedAverageRemainingContractualTerm1_dtY_c20250101__20250331__us-gaap--AwardTypeAxis__us-gaap--StockOptionMember_zslyZcBy40ej" TITLE="Weighted average remaining contractual term (Years), Exercisable">1.9</FONT></TD><TD STYLE="padding-bottom: 2.5pt; text-align: left">&#160;</TD><TD STYLE="padding-bottom: 2.5pt">&#160;</TD>
    <TD STYLE="border-bottom: Black 2.5pt double; text-align: left">$</TD><TD ID="xdx_984_eus-gaap--SharebasedCompensationArrangementBySharebasedPaymentAwardOptionsExercisableIntrinsicValue1_iI_pp0p0_c20250331__us-gaap--AwardTypeAxis__us-gaap--StockOptionMember_ztzMzVM6z9ll" TITLE="Aggregate intrinsic value, Exercisable" STYLE="border-bottom: Black 2.5pt double; text-align: right">100,465</TD><TD STYLE="padding-bottom: 2.5pt; text-align: left">&#160;</TD></TR>
  </TABLE>


<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify">&#160;&#160;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify">&#160;<B><FONT STYLE="text-decoration: underline">Warrants</FONT></B></P>

<TABLE CELLPADDING="0" CELLSPACING="0" SUMMARY="xdx: Disclosure - STOCKHOLDERS' EQUITY (Details - Warrants)" ID="xdx_892_eus-gaap--ScheduleOfStockholdersEquityNoteWarrantsOrRightsTextBlock_zRUi87hIqjU3" STYLE="font: 10pt Times New Roman, Times, Serif; border-collapse: collapse; width: 100%">
  <TR STYLE="vertical-align: bottom">
    <TD STYLE="font-size: 8pt; font-weight: bold"><FONT ID="xdx_8BD_zlVgW1FgBsP4" STYLE="font-family: Times New Roman, Times, Serif; font-size: 8pt"><B STYLE="display: none">Schedule
of warrants</B></FONT></TD><TD STYLE="font-size: 8pt; font-weight: bold">&#160;</TD>
    <TD COLSPAN="2" STYLE="font-size: 8pt; font-weight: bold; text-align: right">&#160;</TD><TD STYLE="font-size: 8pt; font-weight: bold">&#160;</TD><TD STYLE="font-size: 8pt; font-weight: bold">&#160;</TD>
    <TD COLSPAN="2" STYLE="font-size: 8pt; font-weight: bold; text-align: right">&#160;</TD><TD STYLE="font-size: 8pt; font-weight: bold">&#160;</TD><TD STYLE="font-size: 8pt; font-weight: bold">&#160;</TD>
    <TD COLSPAN="2" STYLE="font-size: 8pt; font-weight: bold; text-align: right">&#160;</TD><TD STYLE="font-size: 8pt; font-weight: bold">&#160;</TD><TD STYLE="font-size: 8pt; font-weight: bold">&#160;</TD>
    <TD COLSPAN="2" STYLE="font-size: 8pt; font-weight: bold; text-align: right">&#160;</TD><TD STYLE="font-size: 8pt; font-weight: bold">&#160;</TD></TR>
  <TR STYLE="vertical-align: bottom">
    <TD STYLE="padding-bottom: 1pt; font-size: 8pt; font-weight: bold; text-align: center">&#160;</TD><TD STYLE="padding-bottom: 1pt; font-size: 8pt; font-weight: bold">&#160;</TD>
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    <TD COLSPAN="2" STYLE="border-bottom: Black 1pt solid; font-size: 8pt; font-weight: bold; text-align: center">Weighted<BR> Average<BR> Exercise<BR> Price</TD><TD STYLE="padding-bottom: 1pt; font-size: 8pt; font-weight: bold">&#160;</TD><TD STYLE="padding-bottom: 1pt; font-size: 8pt; font-weight: bold">&#160;</TD>
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  <TR STYLE="vertical-align: bottom; background-color: rgb(204,238,255)">
    <TD STYLE="width: 44%">Outstanding at December 31, 2023</TD><TD STYLE="width: 1%">&#160;</TD>
    <TD STYLE="width: 1%; text-align: left">&#160;</TD><TD ID="xdx_98F_eus-gaap--ShareBasedCompensationArrangementByShareBasedPaymentAwardOptionsOutstandingNumber_iS_c20240101__20241231__us-gaap--StatementEquityComponentsAxis__us-gaap--WarrantMember_zQ5tJhch8JYi" TITLE="Outstanding beginning balance" STYLE="width: 11%; text-align: right">44,644</TD><TD STYLE="width: 1%; text-align: left">&#160;</TD><TD STYLE="width: 1%">&#160;</TD>
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    <TD STYLE="width: 1%; text-align: left">&#160;</TD><TD STYLE="width: 11%; text-align: right"><FONT ID="xdx_90F_eus-gaap--SharebasedCompensationArrangementBySharebasedPaymentAwardOptionsOutstandingWeightedAverageRemainingContractualTerm2_dtY_c20230101__20231231__us-gaap--StatementEquityComponentsAxis__us-gaap--WarrantMember_zOL5cqmwHTae" TITLE="Weighted average remaining contractual term (years)">0.7</FONT></TD><TD STYLE="width: 1%; text-align: left">&#160;</TD><TD STYLE="width: 1%">&#160;</TD>
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  <TR STYLE="vertical-align: bottom; background-color: White">
    <TD STYLE="text-align: left">Warrants expired, forfeited, cancelled or exercised</TD><TD>&#160;</TD>
    <TD STYLE="text-align: left">&#160;</TD><TD ID="xdx_98B_eus-gaap--ShareBasedCompensationArrangementByShareBasedPaymentAwardOptionsExpirationsInPeriod_c20240101__20241231__us-gaap--StatementEquityComponentsAxis__us-gaap--WarrantMember_pdd" TITLE="Number of warrants, warrants expired, forfeited, cancelled or exercised" STYLE="text-align: right">(344,644</TD><TD STYLE="text-align: left">)</TD><TD>&#160;</TD>
    <TD STYLE="text-align: left">$</TD><TD ID="xdx_982_ecustom--WeightedAverageExercisePriceWarrantsExpiredForfeitedCancelledOrExercised_c20240101__20241231__us-gaap--StatementEquityComponentsAxis__us-gaap--WarrantMember_pdd" TITLE="Weighted average exercise price, warrants expired, forfeited, cancelled or exercised" STYLE="text-align: right">&#8212;</TD><TD STYLE="text-align: left">&#160;</TD><TD>&#160;</TD>
    <TD STYLE="text-align: left">&#160;</TD><TD STYLE="text-align: right">&#8212;</TD><TD STYLE="text-align: left">&#160;</TD><TD>&#160;</TD>
    <TD STYLE="text-align: left">$</TD><TD STYLE="text-align: right">&#8212;</TD><TD STYLE="text-align: left">&#160;</TD></TR>
  <TR STYLE="vertical-align: bottom; background-color: rgb(204,238,255)">
    <TD STYLE="text-align: left; padding-bottom: 1pt">Warrants issued</TD><TD STYLE="padding-bottom: 1pt">&#160;</TD>
    <TD STYLE="border-bottom: Black 1pt solid; text-align: left">&#160;</TD><TD ID="xdx_984_eus-gaap--ConversionOfStockSharesIssued1_c20240101__20241231__us-gaap--StatementEquityComponentsAxis__us-gaap--WarrantMember_pdd" TITLE="Number of warrants, warrants issued" STYLE="border-bottom: Black 1pt solid; text-align: right">300,000</TD><TD STYLE="padding-bottom: 1pt; text-align: left">&#160;</TD><TD STYLE="padding-bottom: 1pt">&#160;</TD>
    <TD STYLE="border-bottom: Black 1pt solid; text-align: left">$</TD><TD ID="xdx_980_ecustom--WarrantsExchangedForCommonStockWeightedAverageExercisePrice_c20240101__20241231__us-gaap--StatementEquityComponentsAxis__us-gaap--WarrantMember_pdd" TITLE="Weighted average exercise price, warrants issued" STYLE="border-bottom: Black 1pt solid; text-align: right">3.00</TD><TD STYLE="padding-bottom: 1pt; text-align: left">&#160;</TD><TD STYLE="padding-bottom: 1pt">&#160;</TD>
    <TD STYLE="border-bottom: Black 1pt solid; text-align: left">&#160;</TD><TD STYLE="border-bottom: Black 1pt solid; text-align: right">&#8212;</TD><TD STYLE="padding-bottom: 1pt; text-align: left">&#160;</TD><TD STYLE="padding-bottom: 1pt">&#160;</TD>
    <TD STYLE="border-bottom: Black 1pt solid; text-align: left">$</TD><TD STYLE="border-bottom: Black 1pt solid; text-align: right">&#8212;</TD><TD STYLE="padding-bottom: 1pt; text-align: left">&#160;</TD></TR>
  <TR STYLE="vertical-align: bottom; background-color: White">
    <TD STYLE="padding-bottom: 2.5pt">Outstanding at December 31, 2024</TD><TD STYLE="padding-bottom: 2.5pt">&#160;</TD>
    <TD STYLE="border-bottom: Black 2.5pt double; text-align: left">&#160;</TD><TD ID="xdx_989_eus-gaap--ShareBasedCompensationArrangementByShareBasedPaymentAwardOptionsOutstandingNumber_iE_c20240101__20241231__us-gaap--StatementEquityComponentsAxis__us-gaap--WarrantMember_zLrsxSbsHueg" TITLE="Outstanding ending balance" STYLE="border-bottom: Black 2.5pt double; text-align: right">&#8212;</TD><TD STYLE="padding-bottom: 2.5pt; text-align: left">&#160;</TD><TD STYLE="padding-bottom: 2.5pt">&#160;</TD>
    <TD STYLE="border-bottom: Black 2.5pt double; text-align: left">$</TD><TD ID="xdx_98A_ecustom--ShareBasedCompensationArrangementByShareBasedPaymentWarrantOutstandingWeightedAverageExercisePrice_iE_c20240101__20241231__us-gaap--StatementEquityComponentsAxis__us-gaap--WarrantMember_zbWSMmNl1Rzd" TITLE="Weighted average exercise price, outstanding ending balance" STYLE="border-bottom: Black 2.5pt double; text-align: right">&#8212;</TD><TD STYLE="padding-bottom: 2.5pt; text-align: left">&#160;</TD><TD STYLE="padding-bottom: 2.5pt">&#160;</TD>
    <TD STYLE="border-bottom: Black 2.5pt double; text-align: left">&#160;</TD><TD STYLE="border-bottom: Black 2.5pt double; text-align: right">&#8212;</TD><TD STYLE="padding-bottom: 2.5pt; text-align: left">&#160;</TD><TD STYLE="padding-bottom: 2.5pt">&#160;</TD>
    <TD STYLE="border-bottom: Black 2.5pt double; text-align: left">$</TD><TD ID="xdx_98F_eus-gaap--ShareBasedCompensationArrangementByShareBasedPaymentAwardEquityInstrumentsOtherThanOptionsNonvestedIntrinsicValue_iE_c20240101__20241231__us-gaap--StatementEquityComponentsAxis__us-gaap--WarrantMember_zhlVV9qvfZ4" TITLE="Aggregate intrinsic value, outstanding ending balance" STYLE="border-bottom: Black 2.5pt double; text-align: right">&#8212;</TD><TD STYLE="padding-bottom: 2.5pt; text-align: left">&#160;</TD></TR>
  <TR STYLE="vertical-align: bottom; background-color: rgb(204,238,255)">
    <TD STYLE="padding-bottom: 2.5pt">Exercisable at December 31, 2024</TD><TD STYLE="padding-bottom: 2.5pt">&#160;</TD>
    <TD STYLE="border-bottom: Black 2.5pt double; text-align: left">&#160;</TD><TD ID="xdx_985_eus-gaap--ShareBasedCompensationArrangementByShareBasedPaymentAwardOptionsExercisableNumber_c20250331__us-gaap--StatementEquityComponentsAxis__us-gaap--WarrantMember_pdd" TITLE="Number of warrants, exercisable" STYLE="border-bottom: Black 2.5pt double; text-align: right">&#8212;</TD><TD STYLE="padding-bottom: 2.5pt; text-align: left">&#160;</TD><TD STYLE="padding-bottom: 2.5pt">&#160;</TD>
    <TD STYLE="border-bottom: Black 2.5pt double; text-align: left">$</TD><TD ID="xdx_98D_eus-gaap--ShareBasedCompensationArrangementByShareBasedPaymentAwardOptionsExercisableWeightedAverageExercisePrice_c20250331__us-gaap--StatementEquityComponentsAxis__us-gaap--WarrantMember_pdd" TITLE="Weighted average exercise price, exercisable" STYLE="border-bottom: Black 2.5pt double; text-align: right">&#8212;</TD><TD STYLE="padding-bottom: 2.5pt; text-align: left">&#160;</TD><TD STYLE="padding-bottom: 2.5pt">&#160;</TD>
    <TD STYLE="border-bottom: Black 2.5pt double; text-align: left">&#160;</TD><TD STYLE="border-bottom: Black 2.5pt double; text-align: right">&#8212;</TD><TD STYLE="padding-bottom: 2.5pt; text-align: left">&#160;</TD><TD STYLE="padding-bottom: 2.5pt">&#160;</TD>
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  <TR STYLE="vertical-align: bottom; background-color: White">
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<P ID="xdx_8A4_zO4XKVA1zlia" STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0"><B>&#160;</B></P>

<P ID="xdx_23A_zwOPY2fdxVZi" STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0"></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0"><B>&#160;</B></P>

<P ID="xdx_23D_zXUySYEEN70e" STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0"><B></B></P>

<!-- Field: Page; Sequence: 150 -->
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<P ID="xdx_236_znXvxwkAPUUk" STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0"><B></B></P>

<P ID="xdx_23F_zqDSKdxkeRj3" STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify">&#160;</P>

<P ID="xdx_809_eus-gaap--RevenueFromContractWithCustomerTextBlock_zEAHQh3TRHfi" STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify"><B>NOTE 10 &#8211;<FONT ID="xdx_826_zVCm0qIpvfVa"> REVENUE AND CONTRACT
ACCOUNTING</FONT></B></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify"><B>&#160;</B></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify"><B><FONT STYLE="text-decoration: underline">Revenue Recognition and Contract Accounting</FONT></B></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0">&#160;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify">The Company generates revenue from four sources: (1)
Technology Systems; (2) AI Technology which is included in the consolidated statements of operations line-item Technology Systems; (3)
Technical Support; and (4) Consulting Services which is included in the consolidated statements of operations line-item Services and Consulting.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify">&#160;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify">Contract assets and contract liabilities on uncompleted
contracts for revenues recognized over time are as follows:</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify">&#160;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify"><B><FONT STYLE="text-decoration: underline">Contract Assets</FONT></B></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0">&#160;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify">Contract assets on uncompleted contracts represent
cumulative revenues recognized in excess of billings and/or cash received on uncompleted contracts accounted for under the cost-to-cost
input method, which recognizes revenue based on the ratio of cost incurred to total estimated costs.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify; text-indent: 0.5in">&#160;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify">At March 31, 2025 and December 31, 2024, contract
assets on uncompleted contracts consisted of the following:</P>

<TABLE CELLPADDING="0" CELLSPACING="0" ID="xdx_89E_ecustom--ScheduleOfCostsAndEstimatedEarningsInExcessOfBillingsOnUncompletedContractsTableTextBlock_zlQsFxIjJqcl" SUMMARY="xdx: Disclosure - REVENUE AND CONTRACT ACCOUNTING (Details - Contract assets)" STYLE="font: 11pt Arial, Helvetica, Sans-Serif; border-collapse: collapse; width: 100%">
  <TR STYLE="vertical-align: bottom">
    <TD ID="xdx_8BB_zuOyx3hJvUN3" STYLE="display: none">&#160;Schedule of contracts assets on uncompleted contracts</TD><TD>&#160;</TD>
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    <TD COLSPAN="2" ID="xdx_494_20241231_zmSPXq2junA1" STYLE="text-align: center">&#160;</TD><TD>&#160;</TD></TR>
  <TR STYLE="vertical-align: bottom">
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  <TR ID="xdx_405_ecustom--CumulativeRevenueRecognized_iI_pp0p0_maCWCANzhCN_z8MFBwUeGru5" STYLE="vertical-align: bottom; background-color: rgb(204,238,255)">
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  <TR ID="xdx_40F_ecustom--BillingsOrCashReceived_iNI_pp0p0_di_msCWCANzhCN_ziytgYRwrbUj" STYLE="vertical-align: bottom; background-color: White">
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  <TR ID="xdx_404_eus-gaap--ContractWithCustomerAssetNetCurrent_iTI_pp0p0_mtCWCANzhCN_zEI6ZsYVdCMh" STYLE="vertical-align: bottom; background-color: rgb(204,238,255)">
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<P ID="xdx_8A4_zZhxd993GNcc" STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify">&#160;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify"><B><FONT STYLE="text-decoration: underline">Contract Liabilities</FONT></B></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0">&#160;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify">Contract liabilities on uncompleted contracts represent
billings and/or cash received that exceed cumulative revenues recognized on uncompleted contracts accounted for under the cost-to-cost
input method, which recognizes revenues based on the ratio of the cost incurred to total estimated costs.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify">&#160;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify">Contract liabilities on services and consulting revenues
represent billings and/or cash received in excess of revenue recognized on service agreements that are not accounted for under the cost-to-cost
input method.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify">&#160;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify">At March 31, 2025 and December 31, 2024, contract
liabilities on uncompleted contracts and contract liabilities on services and consulting consisted of the following:</P>

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    <TD STYLE="font: 10pt Times New Roman, Times, Serif; width: 1%; text-align: left">$</TD><TD STYLE="font: 10pt Times New Roman, Times, Serif; width: 14%; text-align: right">1,264,658</TD><TD STYLE="font: 10pt Times New Roman, Times, Serif; width: 1%; text-align: left">&#160;</TD></TR>
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  <TR ID="xdx_404_ecustom--ContractLiabilitiesTechnologiesSystems_iTI_pp0p0_mtCLTSz2uq_maCWCLCzpV5_zPY3693Cqlxl" STYLE="vertical-align: bottom; background-color: rgb(204,238,255)">
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    <TD STYLE="font: 10pt Times New Roman, Times, Serif; text-align: left">&#160;</TD><TD STYLE="font: 10pt Times New Roman, Times, Serif; text-align: right">403,634</TD><TD STYLE="font: 10pt Times New Roman, Times, Serif; text-align: left">&#160;</TD></TR>
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    <TD STYLE="border-bottom: Black 1pt solid; font: 10pt Times New Roman, Times, Serif; text-align: left">&#160;</TD><TD STYLE="border-bottom: Black 1pt solid; font: 10pt Times New Roman, Times, Serif; text-align: right">9,964,218</TD><TD STYLE="font: 10pt Times New Roman, Times, Serif; padding-bottom: 1pt; text-align: left">&#160;</TD><TD STYLE="font: 10pt Times New Roman, Times, Serif; padding-bottom: 1pt">&#160;</TD>
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  <TR ID="xdx_409_eus-gaap--ContractWithCustomerLiabilityNoncurrent_iI_pp0p0_zfwoR2Vr5CW" STYLE="vertical-align: bottom; background-color: White">
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<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify">&#160;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify">Contract Liabilities Current</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify">&#160;</P>

<TABLE CELLPADDING="0" CELLSPACING="0" STYLE="font: 12pt Arial, Helvetica, Sans-Serif; border-collapse: collapse; width: 100%">
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    <TD STYLE="font: 10pt Times New Roman, Times, Serif; text-align: justify; padding-bottom: 1pt">&#160;</TD><TD STYLE="font: 10pt Times New Roman, Times, Serif; padding-bottom: 1pt">&#160;</TD>
    <TD STYLE="font: 10pt Times New Roman, Times, Serif; text-align: left">&#160;</TD><TD ID="xdx_49A_20250331_z5IM4PobNT03" STYLE="font: 10pt Times New Roman, Times, Serif; text-align: right">&#160;</TD><TD STYLE="font: 10pt Times New Roman, Times, Serif; padding-bottom: 1pt; text-align: left">&#160;</TD><TD STYLE="font: 10pt Times New Roman, Times, Serif; padding-bottom: 1pt">&#160;</TD>
    <TD STYLE="font: 10pt Times New Roman, Times, Serif; text-align: left">&#160;</TD><TD ID="xdx_492_20241231_zLuCKNOUHS73" STYLE="font: 10pt Times New Roman, Times, Serif; text-align: right">&#160;</TD><TD STYLE="font: 10pt Times New Roman, Times, Serif; padding-bottom: 1pt; text-align: left">&#160;</TD></TR>
<TR STYLE="vertical-align: bottom">
    <TD>&#160;</TD><TD STYLE="font: 8pt Times New Roman, Times, Serif; padding-bottom: 1pt">&#160;</TD>
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  <TR ID="xdx_406_ecustom--ContractLiabilitiesCurrent_iI_zpFbKDCO5fzd" STYLE="vertical-align: bottom; background-color: rgb(204,238,255)">
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  <TR ID="xdx_408_ecustom--ContractLiabilitiesCurrentRelatedParties_iI_zYfPksk8UVib" STYLE="vertical-align: bottom; background-color: White">
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    <TD STYLE="border-bottom: Black 1pt solid; font: 10pt Times New Roman, Times, Serif; text-align: left">&#160;</TD><TD STYLE="border-bottom: Black 1pt solid; font: 10pt Times New Roman, Times, Serif; text-align: right">7,366,500</TD><TD STYLE="font: 10pt Times New Roman, Times, Serif; padding-bottom: 1pt; text-align: left">&#160;</TD><TD STYLE="font: 10pt Times New Roman, Times, Serif; padding-bottom: 1pt">&#160;</TD>
    <TD STYLE="border-bottom: Black 1pt solid; font: 10pt Times New Roman, Times, Serif; text-align: left">&#160;</TD><TD STYLE="border-bottom: Black 1pt solid; font: 10pt Times New Roman, Times, Serif; text-align: right">8,616,500</TD><TD STYLE="font: 10pt Times New Roman, Times, Serif; padding-bottom: 1pt; text-align: left">&#160;</TD></TR>
  <TR ID="xdx_402_eus-gaap--ContractWithCustomerLiabilityCurrent_iTI_pp0p0_mtCWCLCzpV5_zZjBPWCepiR1" STYLE="vertical-align: bottom; background-color: rgb(204,238,255)">
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    <TD STYLE="border-bottom: Black 2.5pt double; font: 10pt Times New Roman, Times, Serif; text-align: left">$</TD><TD STYLE="border-bottom: Black 2.5pt double; font: 10pt Times New Roman, Times, Serif; text-align: right">11,805,018</TD><TD STYLE="font: 10pt Times New Roman, Times, Serif; padding-bottom: 2.5pt; text-align: left">&#160;</TD></TR>
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<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify">&#160;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify">Contract Liabilities Non-Current</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify">&#160;</P>

<TABLE CELLPADDING="0" CELLSPACING="0" STYLE="font: 12pt Arial, Helvetica, Sans-Serif; border-collapse: collapse; width: 100%">
  <TR STYLE="vertical-align: bottom; background-color: White">
    <TD STYLE="font: 10pt Times New Roman, Times, Serif; text-align: justify; padding-bottom: 1pt">&#160;</TD><TD STYLE="font: 10pt Times New Roman, Times, Serif; padding-bottom: 1pt">&#160;</TD>
    <TD STYLE="font: 10pt Times New Roman, Times, Serif; text-align: left">&#160;</TD><TD STYLE="font: 10pt Times New Roman, Times, Serif; text-align: right">&#160;</TD><TD STYLE="font: 10pt Times New Roman, Times, Serif; padding-bottom: 1pt; text-align: left">&#160;</TD><TD STYLE="font: 10pt Times New Roman, Times, Serif; padding-bottom: 1pt">&#160;</TD>
    <TD STYLE="font: 10pt Times New Roman, Times, Serif; text-align: left">&#160;</TD><TD STYLE="font: 10pt Times New Roman, Times, Serif; text-align: right">&#160;</TD><TD STYLE="font: 10pt Times New Roman, Times, Serif; padding-bottom: 1pt; text-align: left">&#160;</TD></TR>
<TR STYLE="vertical-align: bottom">
    <TD>&#160;</TD><TD STYLE="font: 8pt Times New Roman, Times, Serif; padding-bottom: 1pt">&#160;</TD>
    <TD COLSPAN="3" STYLE="border-bottom: Black 1pt solid; font: 8pt Times New Roman, Times, Serif; text-align: center"><P STYLE="font: 8pt Times New Roman, Times, Serif; margin: 0; text-align: center"><B>March 31,</B></P> <P STYLE="font: 8pt Times New Roman, Times, Serif; margin: 0; text-align: center"><B>2025</B></P></TD><TD STYLE="font: 8pt Times New Roman, Times, Serif; padding-bottom: 1pt">&#160;</TD>
    <TD COLSPAN="3" STYLE="border-bottom: Black 1pt solid; font: 8pt Times New Roman, Times, Serif; text-align: center"><P STYLE="font: 8pt Times New Roman, Times, Serif; margin: 0; text-align: center"><B>December 31,</B></P> <P STYLE="font: 8pt Times New Roman, Times, Serif; margin: 0; text-align: center"><B>2024</B></P></TD></TR>
  <TR ID="xdx_40E_ecustom--ContractLiabilitiesNonCurrent_iI_z8hXoTIc6H" STYLE="vertical-align: bottom; background-color: rgb(204,238,255)">
    <TD STYLE="font: 10pt Times New Roman, Times, Serif; width: 66%; text-align: justify">Total contract liabilities, non-current</TD><TD STYLE="font: 10pt Times New Roman, Times, Serif; width: 1%">&#160;</TD>
    <TD STYLE="font: 10pt Times New Roman, Times, Serif; width: 1%; text-align: left">$</TD><TD STYLE="font: 10pt Times New Roman, Times, Serif; width: 14%; text-align: right">6,851,513</TD><TD STYLE="font: 10pt Times New Roman, Times, Serif; width: 1%; text-align: left">&#160;</TD><TD STYLE="font: 10pt Times New Roman, Times, Serif; width: 1%">&#160;</TD>
    <TD STYLE="font: 10pt Times New Roman, Times, Serif; width: 1%; text-align: left">$</TD><TD STYLE="font: 10pt Times New Roman, Times, Serif; width: 14%; text-align: right">7,399,634</TD><TD STYLE="font: 10pt Times New Roman, Times, Serif; width: 1%; text-align: left">&#160;</TD></TR>
  <TR ID="xdx_405_ecustom--ContractLiabilitiesNonCurrentRelatedParties_iI_zvPUip38AQXi" STYLE="vertical-align: bottom; background-color: White">
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    <TD STYLE="border-bottom: Black 1pt solid; font: 10pt Times New Roman, Times, Serif; text-align: left">&#160;</TD><TD STYLE="border-bottom: Black 1pt solid; font: 10pt Times New Roman, Times, Serif; text-align: right">2,712,375</TD><TD STYLE="font: 10pt Times New Roman, Times, Serif; padding-bottom: 1pt; text-align: left">&#160;</TD><TD STYLE="font: 10pt Times New Roman, Times, Serif; padding-bottom: 1pt">&#160;</TD>
    <TD STYLE="border-bottom: Black 1pt solid; font: 10pt Times New Roman, Times, Serif; text-align: left">&#160;</TD><TD STYLE="border-bottom: Black 1pt solid; font: 10pt Times New Roman, Times, Serif; text-align: right">3,616,500</TD><TD STYLE="font: 10pt Times New Roman, Times, Serif; padding-bottom: 1pt; text-align: left">&#160;</TD></TR>
  <TR ID="xdx_408_eus-gaap--ContractWithCustomerLiabilityNoncurrent_iI_pp0p0_zMVrLHAFQVy2" STYLE="vertical-align: bottom; background-color: rgb(204,238,255)">
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    <TD STYLE="border-bottom: Black 2.5pt double; font: 10pt Times New Roman, Times, Serif; text-align: left">$</TD><TD STYLE="border-bottom: Black 2.5pt double; font: 10pt Times New Roman, Times, Serif; text-align: right">9,563,888</TD><TD STYLE="font: 10pt Times New Roman, Times, Serif; padding-bottom: 2.5pt; text-align: left">&#160;</TD><TD STYLE="font: 10pt Times New Roman, Times, Serif; padding-bottom: 2.5pt">&#160;</TD>
    <TD STYLE="border-bottom: Black 2.5pt double; font: 10pt Times New Roman, Times, Serif; text-align: left">$</TD><TD STYLE="border-bottom: Black 2.5pt double; font: 10pt Times New Roman, Times, Serif; text-align: right">11,016,134</TD><TD STYLE="font: 10pt Times New Roman, Times, Serif; padding-bottom: 2.5pt; text-align: left">&#160;</TD></TR>
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<P ID="xdx_8AA_zeHpFCKhXdUk" STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify">&#160;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify">Current Contract liabilities at December 31,
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<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify">&#160;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify">The Company expects to recognize all current contract
liabilities within 12 months from the respective consolidated balance sheet date. In May 2024, the Company recorded an initial deferred
revenue as a contract liability in the amount of $<FONT ID="xdx_90C_eus-gaap--DeferredRevenue_iI_pp0p0_c20240531__us-gaap--FiniteLivedIntangibleAssetsByMajorClassAxis__us-gaap--CustomerContractsMember_zaEWFLcW1jh4" TITLE="Deferred revenue">11,161,428</FONT> of which $<FONT ID="xdx_901_ecustom--RecognizedDeferredRevenue_iI_pp0p0_c20240531__us-gaap--FiniteLivedIntangibleAssetsByMajorClassAxis__us-gaap--CustomerContractsMember_zPuAfxJejTcc" TITLE="Recognized deferred revenue">199,008</FONT> related to a pilot program was immediately recognized as
revenue (See Note 4) and another $1,370,303 was recognized in 2024. During the three months ended March 31, 2025, the Company recognized
revenue of $<FONT ID="xdx_900_ecustom--RecognizedDeferredRevenue_iI_pp0p0_c20250331__us-gaap--FiniteLivedIntangibleAssetsByMajorClassAxis__us-gaap--CustomerContractsMember_zfhpGZulcKse" TITLE="Recognized deferred revenue">548,122</FONT> from this deferred revenue. This contract liability resulted from a five-year contract with a
customer where the Company received non-monetary consideration recorded as intangible assets (See Note 4). This transaction was accounted
for under ASC 606-10-32-21 through ASC-606-10-32-24, Non-Cash Consideration. The performance obligations, which include various support
and maintenance services, will be recognized as revenue pro-rata over time during the five-year contract term. The current contract liabilities
of $<FONT ID="xdx_906_ecustom--ContractWithCustomerLiabilityCurrent1_c20250331_pp0p0" TITLE="Current contract liabilities">2,192,484</FONT> for just this contract as of March 31, 2025 relate to the portion of the contract value the Company expects to recognize
pro-rata within the next twelve months. The non-current contract liabilities of $<FONT ID="xdx_907_ecustom--ContractWithCustomerLiabilityNoncurrent1_c20250331_pp0p0" TITLE="Non-current contract liabilities">6,851,513</FONT> as of March 31, 2025 represent the portion
of the contract value that is expected to be recognized pro-rata beyond the next twelve months. If the Digital Image License Agreement
is terminated prior to the completion of the five-year term, then the customer will pay for the maintenance and support services annually
in cash.</P>

<P ID="xdx_235_z7tZdU1nwACj" STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify">&#160;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify"></P>

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<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify">&#160;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0 0 12pt; text-align: justify">In December 2024, the Company entered into
a series of contracts with Fortress which are considered related party transactions under which the Company will deploy and operate a
fleet of mobile gas turbines and balance-of-plant inventory, providing management, sales and operations functions to Sawgrass in connection
with the assets. In exchange for services performed under the Asset Management Agreement (&#8220;AMA&#8221;), the Company will invoice
monthly under this cost plus fee contract. The Company received an advance cash payments and common units in Sawgrass (see Note 6). Sawgrass
paid the Company $5.0 million in cash upon execution of the contract, which will be applied ratably on a monthly basis against amounts
incurred under the AMA for a period of 12 months in 2025. In the event that the AMA is terminated within the first 12 months, any balance
remaining of the advanced funds would be credited in full to Duos.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0 0 12pt; text-align: justify">As of March 31, 2025 the balance
pertaining to this contract is $<FONT ID="xdx_90C_eus-gaap--DeferredRevenue_c20250331__us-gaap--TypeOfArrangementAxis__custom--AssetManagementAgreementMember__srt--CounterpartyNameAxis__custom--SawgrassAPRHoldingsLLCMember_pp0p0" TITLE="Deferred revenue">3,750,000</FONT>
for services performed and relates to the portion of the contract value the Company expects to recognize pro-rata within the next
nine months. The Company invoiced $3,010,325 in revenue under the AMA for the three
months ended March 31, 2025 of which $1,250,000 was amortization of the deferred revenue.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify">The Company also concluded that the arrangement
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<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify">&#160;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify">The Company will fully recognize $5.0 million in revenue
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<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify">&#160;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify">As of March 31, 2025, the balance in contract liabilities
pertaining to the non-monetary (see Note 4) transaction agreement is as follows:</P>

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<P ID="xdx_8A8_z4dvXED0xU13" STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify"><B>&#160;</B>&#160;</P>

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pertaining to the value of the equity method (see Note 6) interest will be recognized as revenue as follows:</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify"></P>

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<P ID="xdx_8A1_zuLifMbvLIsl" STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0 0 12pt; text-align: justify"></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0"><B>Disaggregation of Revenue </B></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0"><B>&#160;</B></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify">The Company is following the guidance of ASC 606-10-55-296
and 297 for disaggregation of revenue. Accordingly, revenue has been disaggregated according to the nature, amount, timing and uncertainty
of revenue and cash flows. We are providing qualitative and quantitative disclosures.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0"><B>&#160;</B></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0"><B>Qualitative:</B></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0"><B>&#160;</B></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0">1. We have four distinct revenue sources:</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0 0 0 0.5in">a. Technology Systems (Turnkey, engineered projects);</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0 0 0 0.5in">b. AI Technology (Associated maintenance and support services);</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0 0 0 0.5in; text-align: justify">c. Technical Support (Operational support,
asset management of power generation systems); and</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0 0 0 0.5in; text-align: justify">d. Consulting Services (Predetermined algorithms
to provide important operating information to the users of our systems).</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0">2. We currently operate in North America including the USA, Mexico and
Canada.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0">3. Our customers include rail transportation, and commercial.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0">4. Our technology systems and equipment projects fall into two types:</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0 0 0 0.5in">a. Transfer of goods and services over time.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0 0 0 0.5in">b. Goods delivered at point in time.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0">5. Our services &amp; maintenance contracts are fixed price and fall into
two duration types:</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0 0 0 0.5in; text-align: justify">a. Turnkey engineered projects and professional
service contracts that are less than one year in duration and are typically one to two quarters in length; and</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0 0 0 0.5in">b. Maintenance and support contracts ranging from one to five
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<P ID="xdx_23A_zRbY1J2yyvBk" STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0">&#160;</P>

<P ID="xdx_231_zWNetB2JM6Wd" STYLE="font: 11pt Calibri, Helvetica, Sans-Serif; margin: 0 0 6pt">&#160;</P>


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<P STYLE="font: 4pt Times New Roman, Times, Serif; margin: 0">&#160;</P>

<P STYLE="font: 4pt Times New Roman, Times, Serif; margin: 0"></P>

<P STYLE="font: 4pt Times New Roman, Times, Serif; margin: 0">&#160;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify"><B>Quantitative:</B></P>

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<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: center"><B>&#160;</B>&#160;</P>

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<TABLE CELLPADDING="0" CELLSPACING="0" STYLE="font: 11pt Arial, Helvetica, Sans-Serif; border-collapse: collapse; width: 100%">
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<P ID="xdx_8AD_z7mh7cxe74a8" STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify"><B>&#160;</B></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify"><B></B></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0"><B>Revision of Disaggregation of Revenue </B></P>

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<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify">For three months ended March 31, 2025, the Company has revised the presentation
of disaggregated revenue compared to the presentation included in our Form 10-Q for the quarter ended March 31, 2024. The revision was
made to better align with the nature, timing, and uncertainty of revenue and cash flows arising from our contracts with customers. Comparative
amounts for the prior period have been reclassified where necessary to conform to the current period presentation. These changes did not
impact consolidated revenue previously reported.</P>
<P ID="xdx_236_zvI3xCC4nKGl" STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify"><B></B></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify"></P>

<P ID="xdx_238_zWCTwBQe6wd2" STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0 0 8pt"><B>&#160;</B></P>


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<P STYLE="font: 4pt Times New Roman, Times, Serif; margin: 0">&#160;</P>

<P STYLE="font: 4pt Times New Roman, Times, Serif; margin: 0">&#160;</P>

<P ID="xdx_80D_eus-gaap--SegmentReportingDisclosureTextBlock_zaFUqFth4sp2" STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify"><B>NOTE 11 &#8211;<FONT ID="xdx_827_zKQh6sHvCcLb"> SEGMENT REPORTING</FONT></B></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify"><B>&#160;</B></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify">Beginning on January 1, 2025, the Company
operates in three operating and reportable segments which consist of (1) applying machine vision and AI to analyze high-speed
objects and generate revenue from system installations, AI integrations, support, and consulting, herein known as the
&#8220;Technologies&#8221; segment, (2) deploying Edge Data Centers for localized data processing in rural and underserved markets,
herein known as the &#8220;Data Center Hosting &amp; Related Services&#8221; segment, and (3) providing Asset Management Services
under the AMA with New APR, managing mobile gas turbines and related assets, herein known as the &#8220;Asset Management
Services&#8221; segment. The Company has determined that these reportable segments were strategic business units that offer
different products and services. Currently, these reportable segments are being managed separately based on the fundamental
differences in their operations.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify"><B>&#160;</B></P>

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<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify"><B>&#160;</B></P>

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<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify">Corporate and unallocated amounts that do not relate
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<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify">The Company&#8217;s chief operating decision maker
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by the CODM with oversight by the Board of Directors. The CODM evaluates the performance of each segment and makes decisions concerning
the allocation of resources based upon segment operating profit (loss), generally defined as income or loss before interest expense and
income taxes. The CODM assesses segment performance by using each segment&#8217;s operating income (loss) and considers budget-to-actual
variances on a periodic basis (at least quarterly) when making decisions about operational planning, including whether to invest resources
into the segments or into other parts of the Company. Segment assets are reviewed by the Company&#8217;s CODM and are disclosed below.
The accounting policies of the Technologies, Data Center Hosting &amp; Related Services, and Asset Management Services segment are the
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<P ID="xdx_235_zAq0xjRx4Chj" STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify"><B>&#160;</B></P>

<P ID="xdx_230_zTqWHbbtO7D2" STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify"><B>&#160;</B></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify"></P>

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<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify">&#160;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify">Information with respect to these reportable business
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<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify"><B></B></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify"><B>&#160;</B></P>

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<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify"><FONT STYLE="font-size: 10pt"><B></B></FONT></P>

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<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify"><FONT STYLE="font-size: 10pt"><B>&#160;</B></FONT></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify"><FONT STYLE="font-size: 10pt"><B></B></FONT>&#160;</P>

<P STYLE="margin: 0"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt"><B><FONT STYLE="text-decoration: underline">Three Months Ended March 31, 2024</FONT></B></FONT></P>

<TABLE CELLPADDING="0" CELLSPACING="0" STYLE="font: 10pt Times New Roman, Times, Serif; border-collapse: collapse; width: 100%">
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  <TR STYLE="vertical-align: bottom; background-color: White">
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  <TR STYLE="vertical-align: bottom; background-color: rgb(204,238,255)">
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  <TR STYLE="vertical-align: bottom; background-color: White">
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  <TR STYLE="vertical-align: bottom; background-color: rgb(204,238,255)">
    <TD STYLE="text-align: left; padding-bottom: 1pt; padding-left: 5.4pt">Provision for income tazes</TD><TD STYLE="padding-bottom: 1pt">&#160;</TD>
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  <TR STYLE="vertical-align: bottom; background-color: White">
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<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify"><B>&#160;</B>&#160;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify"><B>Total assets by segment on March 31, 2025 and December
31, 2024:</B></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify"><B></B></P>

<TABLE CELLPADDING="0" CELLSPACING="0" STYLE="font: 10pt Times New Roman, Times, Serif; border-collapse: collapse; width: 100%">
  <TR STYLE="vertical-align: bottom">
    <TD STYLE="font-size: 12pt">&#160;</TD><TD STYLE="font-size: 12pt">&#160;</TD>
    <TD COLSPAN="2" STYLE="font-size: 12pt; text-align: center">&#160;</TD><TD STYLE="font-size: 12pt">&#160;</TD><TD STYLE="font-size: 12pt">&#160;</TD>
    <TD COLSPAN="2" STYLE="font-size: 12pt; text-align: center">&#160;</TD><TD STYLE="font-size: 12pt">&#160;</TD></TR>
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  <TR STYLE="vertical-align: bottom; background-color: rgb(204,238,255)">
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  <TR STYLE="vertical-align: bottom; background-color: White">
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  <TR STYLE="vertical-align: bottom; background-color: rgb(204,238,255)">
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  </TABLE>


<P ID="xdx_8A3_zvVd0FwFFod8" STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify"><B>&#160;</B></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify"><B></B></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify"><B></B></P>



<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify">All assets are located in the United States.</P>

<P ID="xdx_233_zo3HBievBJa8" STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify"><B>&#160;</B></P>

<P ID="xdx_23D_zvZ4B4y26ywa" STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify"><B>&#160;</B></P>

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    <!-- Field: /Page -->

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify"></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify"><B>&#160;</B></P>

<P ID="xdx_800_eus-gaap--DefinedContributionPlanTextBlock_zC0VSTODHwo8" STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify"><B>NOTE 12 &#8211;<FONT ID="xdx_829_z5dqi4aebzBi"> DEFINED CONTRIBUTION PLAN</FONT></B></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify"><B>&#160;</B></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify">The Company has a 401(k)-retirement savings plan (the
&#8220;401(k) Plan&#8221;) covering all eligible employees. The 401(k) Plan allows employees to defer a portion of their annual compensation,
and the Company may match a portion of the employees&#8217; contributions generally after the first six months of service. During the
three months ended March 31, 2025, the Company matched 100% of the first 4% of eligible employee compensation that was contributed to
the 401(k) Plan. For the three months ended March 31, 2025, the Company recognized expense for matching cash contributions to the 401(k)
Plan totaling $<FONT ID="xdx_90F_eus-gaap--DefinedBenefitPlanServiceCost_c20250101__20250331_pp0p0" TITLE="Cash contributions">69,131</FONT>.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify"><B>&#160;&#160;</B></P>

<P ID="xdx_80B_eus-gaap--RelatedPartyTransactionsDisclosureTextBlock_zY6bGrwZtWCa" STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify"><B>NOTE 13 &#8211;<FONT ID="xdx_828_zMDsC5mLrAP4"> RELATED PARTY TRANSACTIONS</FONT></B></P>

<P STYLE="font: 11pt Calibri, Helvetica, Sans-Serif; margin: 0; text-align: justify">&#160;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify">Frank Lonegro serves on the Board of Directors
and is a member of the Audit Committee. Mr. Lonegro is the Chief Executive Officer of Landstar System, Inc.
(&#8220;Landstar&#8221;), based in Jacksonville, Florida. The Company has previously utilized Landstar for shipping services
including transporting large items. Most recently, Landstar was the designated vendor involved in shipping an Edge Data Center to an
Amtrak site in Secaucus, New Jersey. Mr. Lonegro was not involved in the selection of his company by the Company, with which there
was an existing relationship pre-dating Mr. Lonegro&#8217;s appointment to the Board of the Company. Mr. Lonegro did not participate
in any Board discussions or votes relating to the selection of Landstar nor approval of the transactions with Landstar. The terms of
these transactions were reviewed and approved by the management team. For the three months ended March 31, 2025 and March 31, 2024,
the Company expensed $<FONT ID="xdx_90C_ecustom--RelatedPartyExpenses_c20250101__20250331_pp0p0" TITLE="Related party expenses">8,690</FONT>
and zero <FONT ID="xdx_902_ecustom--RelatedPartyExpenses_c20240101__20240331_pp0p0" TITLE="Related party expenses" STYLE="display: none">0</FONT>,
respectively, on transactions relating to Landstar. For the three months ended March 31, 2025 and March 31, 2024, the amounts owed
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respectively, and are included in accounts payable in the accompanying balance sheets.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify">&#160;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify">In the fourth quarter of 2022, the Company elected
to not renew a support contract with an existing customer due to a change in focus by the Company away from its Integrated Correctional
Automation System (&#8220;iCAS&#8221;) business and the limited amount of revenue expected from that business going forward. On June 29,
2023, the Company completed a transaction whereby it sold assets related to its iCAS business and a recommendation to that customer to
engage with the eventual buyer going forward. The transaction was completed with a third-party buyer of which the Company&#8217;s then
former and now current Chief Financial Officer is a director. The former officer, who was rehired as our CFO in May of 2024, did not participate
in the transaction on behalf of the Company which was negotiated by the CEO.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify">&#160;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify">In late 2024, Duos engaged with FIG to assist in FIG&#8217;s
purchase of approximately 850 Mega Watts of electrical generation capacity (consisting of 30 mobile gas turbine generators) and associated
equipment to support their installation and operation (&#8220;balance of plant&#8221;). In late November 2024, Sawgrass Buyer LLC, an
entity formed and owned by FIG, executed an asset purchase agreement with Atlas Corporation, APR Energy Holdings Limited and a number
of its wholly-owned affiliates (collectively, &#8220;APR&#8221;). Chuck Ferry, our CEO, was formerly the CEO of APR from 2018 to 2020.
The transaction closed on December 31, 2024. At Closing, Sawgrass Buyer LLC entered into an Asset Management Agreement (&#8220;AMA&#8221;)
with the Company under which a substantial portion of company staff, including certain members of the management team (including Mr. Ferry),
would oversee operations of Sawgrass Buyer LLC. The AMA term is two years and subject to customary cancellation provisions. At closing,
the Company also received a 5% non-voting equity ownership interest in Sawgrass APR Holdings, LLC (&#8220;Sawgrass Parent&#8221;), the
ultimate parent company of Sawgrass Buyer LLC. As part of the transaction, certain members of the Company&#8217;s management team, including
Charles Ferry, Duos&#8217; Chief Executive Officer, and Christopher King, Duos&#8217; Chief Operating Officer, will serve in similar positions
with New APR in addition to their roles at the Company. Mr. Ferry will also be Executive Chairman and a member of the Board of New APR.
Mr. Goldfarb, the Company&#8217;s CFO, will be an observer on the board of New APR but will have no executive role or management responsibilities
at the new entity. The Company will continue to pay the full compensation for Mr. Ferry, Mr. King and one other employee, with New APR
covering 50% of that cost.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify">&#160;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0">As a result of the relationships between Duos Energy Corporation and
the FIG related entities described above, Sawfrass APR Holdings LLC (&#34;Sawgrass Parent&#34;) and New APR Energy, LLC (&#34;New
APR&#34;) are considered related parties to the Company. (See Notes 3, 5, 6 and 10 for related party balances).</P>
<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify">&#160;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify">In 2024, the Company borrowed $2,200,000 from two
lenders that are related parties because together they hold more than 10% of the Company&#8217;s voting common stock. (See Note 7). The
Company began early repayments of the loan in the amount of $1.0 million, during the first three months ended March 31, 2025.</P>

<P ID="xdx_23A_zWL0Ohfq22z4" STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify"><B>&#160;</B></P>

<P ID="xdx_23C_z0fJaOjM5KB9" STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify"><B>&#160;</B></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify"></P>

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<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify">&#160;</P>

<P ID="xdx_807_ecustom--SaleOfAssetsTextBlock_za3jlgQa4AX2" STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify"><B>NOTE 14 &#8211;<FONT ID="xdx_822_zHrZMRHr9woc"> SALE OF ASSETS</FONT></B></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify">&#160;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify">On June 29, 2023, the Company completed a transaction
whereby it sold assets related to its Integrated Correctional Automation System (iCAS) business with a single customer. In the fourth
quarter of 2022, the Company elected to not renew a support contract due to the limited nature of the business. The transaction was completed
with a third-party buyer of which the Company&#8217;s then former Chief Financial Officer and now Current Chief Financial Officer is a
director. Said then former officer did not participate in the transaction on behalf of the Company.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify">&#160;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify">The assets of the iCAS business were sold for a convertible
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note matures in 2 years from the date of sale and is convertible immediately through the later of the maturity date or payment by the
borrower of the default amount, as defined in the note, into shares of the buyer&#8217;s common stock at a conversion price of $<FONT ID="xdx_909_eus-gaap--DebtInstrumentConvertibleConversionPrice1_c20250331_pdd" TITLE="Conversion price">0.003</FONT>
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4.99% of the common stock outstanding of the buyer. The convertible promissory note is subject to standard anti-dilution provisions.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify">&#160;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify">The common stock purchase warrants are for a total
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The warrants are not exercisable until on or after six months from the issuance date and no later than on or before the third anniversary
of the issuance date. The Company may exercise the warrants at any time after the six-month anniversary of the issuance date on a cashless
basis if there is no effective registration statement covering the resale of the Warrant Shares at prevailing market prices by the holder.
The exercise of these warrants is subject to beneficial ownership limits of 4.99% which may be increased by the holder up to 9.99% as
defined in the warrant. Given that the shares carried no intrinsic value at the time of the transaction and that the overall fair value
is de minimis, the Company has not recorded the warrants associated with the transaction.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify"></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify">&#160;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify">The original issue discount is being accrued into
interest income over the term of the note.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify">&#160;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify">The note receivable was recorded as follows on March
31, 2025:</P>

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    <TD><FONT STYLE="font-size: 8pt">&#160;</FONT></TD><TD STYLE="font: 8pt Times New Roman, Times, Serif; padding-bottom: 1pt"><FONT STYLE="font-size: 8pt">&#160;</FONT></TD>
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<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify"><B>&#160;</B></P>

<P ID="xdx_803_eus-gaap--SubsequentEventsTextBlock_zZPhNWR0J1R4" STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify"><B>NOTE 15 &#8211; <FONT ID="xdx_82B_zzXnFdo6Vl81">SUBSEQUENT EVENTS</FONT></B></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify">&#160;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify">On April 1, 2025, the Company awarded an
employee <FONT ID="xdx_90F_eus-gaap--ShareBasedCompensationArrangementByShareBasedPaymentAwardOptionsGrantsInPeriod_c20250329__20250401__us-gaap--AwardTypeAxis__custom--NonQualifiedStockOptionsMember__srt--CounterpartyNameAxis__custom--EmployeeMember_zEFEiScHGue8" TITLE="Number of share granted">20,000</FONT>
non-qualified stock options which have a <FONT ID="xdx_900_eus-gaap--SharebasedCompensationArrangementBySharebasedPaymentAwardOptionsOutstandingWeightedAverageRemainingContractualTerm2_dtY_c20250329__20250401__us-gaap--AwardTypeAxis__custom--NonQualifiedStockOptionsMember__srt--CounterpartyNameAxis__custom--EmployeeMember_ziz664Azw20e" TITLE="Option term">5</FONT>-year
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<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify"><FONT STYLE="color: #1D2228">&#160;</FONT></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify"><FONT STYLE="color: #1D2228"></FONT></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify">On April 1, 2025, the Company issued restricted <FONT ID="xdx_90E_eus-gaap--ShareBasedCompensationArrangementByShareBasedPaymentAwardOptionsGrantsInPeriod_c20250329__20250401__us-gaap--AwardTypeAxis__us-gaap--RestrictedStockMember__srt--CounterpartyNameAxis__custom--TwoDirectorsMember_zQEppBnJ7i71" TITLE="Number of share granted">10,000</FONT>
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<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify"><FONT STYLE="color: #1D2228"></FONT></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify; color: #1D2228"></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify; color: #1D2228">&#160;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify; color: #1D2228">On April 14, 2025, the Company entered
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Sales Agreement, originally entered into on May 17, 2024, by $8,850,000, for total capacity of $16,350,000. On April 14, 2025, the Company
also filed a Prospectus Supplement with the SEC relating to the additional $8,850,000 of common stock that may be sold pursuant to the
Amendment.</FONT></P>

<P ID="xdx_81E_zPukzIzz4Yb8" STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify; color: #1D2228">&#160;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0; margin-bottom: 0; text-align: center">&#160;F-78</P>


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<P STYLE="font: 4pt Times New Roman, Times, Serif; margin: 0">&#160;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: center"><B>4,789,273 Shares of Common Stock issuable upon Conversion
of Series E Convertible Preferred Stock</B></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: center"><B>&#160;</B></P>

<P STYLE="font: 12pt Times New Roman, Times, Serif; margin: 0; text-align: center">&#160;</P>

<P STYLE="font: 12pt Times New Roman, Times, Serif; margin: 0; text-align: center">&#160;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: center"><FONT STYLE="font-family: Palatino Linotype, Palatino, Times, Serif"><IMG SRC="image_008.jpg" ALT="A blue and black logo&#10;&#10;Description automatically generated" STYLE="height: 56px; width: 247px"></FONT></P>

<P STYLE="font: 12pt Times New Roman, Times, Serif; margin: 0; text-align: center">&#160;</P>

<P STYLE="font: 12pt Times New Roman, Times, Serif; margin: 0; text-align: center">&#160;</P>

<P STYLE="font: 12pt Times New Roman, Times, Serif; margin: 0; text-align: center">&#160;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: center">&#8212;&#8212;&#8212;&#8212;&#8212;&#8212;&#8212;&#8212;&#8212;&#8212;</P>

<P STYLE="font: 12pt Times New Roman, Times, Serif; margin: 6pt 0; text-align: center"><B>PROSPECTUS</B></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: center">&#8212;&#8212;&#8212;&#8212;&#8212;&#8212;&#8212;&#8212;&#8212;&#8212;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: center"><B>&#160;</B></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: center"><B>&#160;</B></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: center"><B>&#160;</B></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: center"><B>&#160;</B></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: center"><B>&#160;</B></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: center">&#160;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: center">&#160;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: center">July 22, 2025</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0">&#160;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0"><B>&#160;</B></P>

<P STYLE="font: 4pt Times New Roman, Times, Serif; margin: 0">&#160;</P>

<P STYLE="font: 4pt Times New Roman, Times, Serif; margin: 0">&#160;</P>

<P STYLE="font: 4pt Times New Roman, Times, Serif; margin: 0">&#160;</P>

<P STYLE="font: 4pt Times New Roman, Times, Serif; margin: 0">&#160;</P>

<P STYLE="font: 4pt Times New Roman, Times, Serif; margin: 0">&#160;</P>

<P STYLE="font: 4pt Times New Roman, Times, Serif; margin: 0">&#160;</P>

<P STYLE="font: 4pt Times New Roman, Times, Serif; margin: 0">&#160;</P>

<P STYLE="font: 4pt Times New Roman, Times, Serif; margin: 0"></P>

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<DOCUMENT>
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begin 644 image_002.jpg
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end
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<DOCUMENT>
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begin 644 image_003.jpg
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<DOCUMENT>
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<DOCUMENT>
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<TEXT>
begin 644 image_007.jpg
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