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Common Stock Warrants:

3 Months Ended

Mar. 31, 2026

Note 8 – Common Stock Warrants:

The table below presents a reconciliation of the Company’s outstanding and exercisable warrants for the three months ended March 31, 2026:


		Number
		of shares
Warrants outstanding and exercisable January 1, 2026		3,301,622
Warrants issued		—
Warrants exercised		(94,145)
Warrants expired		—
Warrants outstanding March 31, 2026		3,207,477
Warrants exercisable March 31, 2026		2,807,477

As of March 31, 2026, the weighted average exercise price and the weighted average remaining life of the total warrants were $11.82 per warrant and 4.25 years, respectively. The intrinsic value of the warrants as of March 31, 2026 was approximately $1.8 million. The aggregate intrinsic value is calculated as the difference between the exercise price of the underlying awards and the closing price of the Common Stock, which was $5.69 per share on March 31, 2026.