XML 31 R18.htm IDEA: XBRL DOCUMENT v3.25.3
Subsequent Events
9 Months Ended
Sep. 30, 2025
Subsequent Events [Abstract]  
Subsequent Events

10. Subsequent Events

 

The Company performed an evaluation of subsequent events through the date of filing of these consolidated financial statements with the SEC. Other than as described below or elsewhere in the notes to the consolidated financial statements, there were no material subsequent events which affected, or could affect, the amounts or disclosures in the consolidated financial statements.

 

Exercise of Pre-Funded Warrants

 

During the period from October 1, 2025 through October 31, 2025, an additional 475,521 pre-funded warrants exercisable at $0.00001 per share that were sold in the July 2, 2025 private placement were exercised, resulting in the issuance of 475,521 shares of common stock. As of October 31, 2025, 184,251 pre-funded warrants remained unexercised.

 

Other Significant Agreements and Contracts

 

SGN Media Inc. On October 1, 2025, the Company entered into an agreement with SGN Media Inc (“SGN”) for marketing consulting services for a term of one year. The agreement provides for a one-time payment of $20,000 upon execution of the agreement and the reimbursement of pre-approved expenses. Upon the completion of an acquisition and related financing, the Company is required to pay SGN a $20,000 per month management fee and to further pay a monthly budget of $220,000 in the first month subsequent to an acquisition and $100,000 monthly thereafter. The agreement is terminable by the Company upon 120 days written notice.

 

LMC Communications Inc. On October 1, 2025, the Company entered into an agreement with LMC Communications Inc (“LMC”) for corporate communications services. The agreement is for a term of one year. The agreement provides for the payment of 150,000 Canadian dollars (approximately $108,000 as of September 30, 2025) upon execution, which can be paid by the issuance of 30,000 shares of the Company’s common stock. The Company has elected to pay 30,000 shares of the Company’s common stock.