Note 13. Subsequent Events

The Company has evaluated all events that occurred after the consolidated balance sheet date through the date when the consolidated financial statements were issued to determine if they must be reported. Management has determined that except as disclosed below, there were no additional reportable subsequent events to be disclosed.

Financing Transaction

On January 18, 2025, the Company closed a Securities Purchase Agreement (the “SPA”) with certain accredited investors. Under the SPA, the Company sold a series of senior secured convertible notes with an aggregate principal amount of $1,500,000, that had an initial conversion price of $1.25 per share, subject to certain adjustments and maturity date of December 31, 2025. The Company also issued five year warrants to acquire up to an aggregate 7,256,364 additional shares of the Company’s common stock with exercise prices ranging from $1.25 to $1.375 per share.

Issuance of Shares for note conversions

Between February 3, 2025 and February 27, 2025, the company issued an aggregate 54,980 shares of common stock for the conversion of $47,283 in principal and accrued interest on its convertible loans.

Issuance of Shares as settlement of other obligations

On March 14, 2025, the Company issued 191,250 shares of common stock valued at $148,410 as part of a stock settlement agreement for payment of its obligation under its judgement from Core IR.