FORM 10-Q QUARTERLY REPORT PURSUANT TO SECTION 13 OR 15(d) OF THE SECURITIES EXCHANGE ACT OF 1934For the quarterly period ended June30, 2026OR ☐TRANSITION REPORT PURSUANT TO SECTION 13 OR 15(d) OF THE SECURITIES EXCHANGE ACT OF 1934 For the transition period from ____ to ____Commission File Number: 001-39516_____________________________________________ (Exact Name of Registrant as Specified in its Charter) Registrant’s telephone number, including area code: (844) 334-5330_____________________________________________ Indicate by check mark whether the registrant (1) has filed all reports required to be filed by Section 13 or 15(d) of the Securities ExchangeAct of 1934 during the preceding 12 months (or for such shorter period that the registrant was required to file such reports), and (2) has been subjectto such filing requirements for the past 90 days. YesNo Indicate by check mark whether the registrant has submitted electronically every Interactive Data File required to be submitted pursuant toRule 405 of Regulation S-T (§232.405 of this chapter) during the preceding 12 months (or for such shorter period that the registrant was required tosubmit such files). YesNo Indicate by check mark whether the registrant is a large accelerated filer, an accelerated filer, a non-accelerated filer, smaller reportingcompany, or an emerging growth company. See the definitions of “large accelerated filer,” “accelerated filer,” “smaller reporting company,” and“emerging growth company” in Rule 12b-2 of the Exchange Act. Large accelerated filerNon-accelerated filerEmerging growth company If an emerging growth company, indicate by check mark if the registrant has elected not to use the extended transition period for complyingwith any new or revised financial accounting standards provided pursuant to Section 13(a) of the Exchange Act.☐ Indicate by check mark whether the registrant is a shell company (as defined in Rule 12b-2 of the Exchange Act). Yes☐No☒ As of August13, 2026, the registrant had 29,221,677 shares of common stock, $0.0001 par value per share, outstanding. PART I. Cautionary Note Regarding Forward-Looking StatementsFinancial StatementsCondensed Consolidated Balance Sheets (Unaudited)Condensed Consolidated Statements of Operations and Comprehensive Income (Loss) (Unaudited)Condensed Consolidated Statements of Changes in Mezzanine Equity and Stockholders’ Equity(Deficit) (Unaudited)Condensed Consolidated Statements of Cash Flows (Unaudited)Notes to Condensed Consolidated Financial Statements (Unaudited)Management’s Discussion and Analysis of Financial Condition and Results of OperationsQuantitative and Qualitative Disclosures About Market RiskControls and Procedures Item 3.Item 4.PART II.Item 1.Item 1A.Item 2.Item 3.Item 4.Item 5.Item 6. Legal ProceedingsRisk FactorsUnregistered Sales of Equity Securities and Use of ProceedsDefaults Upon Senior SecuritiesMine Safety DisclosuresOther InformationExhibitsSignatures CAUTIONARY NOTE REGARDING FORWARD-LOOKING STATEMENTSThis Quarterly Report on Form10-Q(this “Report”) contains certain statements that are “forward-looking statements” within the meaning of the Private Securities Litigation Reform Act of 1995 (the “Reform Act”). All statements other than statements of historicalfacts contained in this Report, including statements concerning possible or assumed future actions, business strategies, events orresults of operations, our liquidity, capital resources, runway, compliance with covenants, and our ability to continue as a goingconcern, our ability to remediate our material weaknesses, and any statements that refer to projections, forecasts or othercharacterizations of future events or circumstances, including any underlying assumptions, are forward-looking statements. Thesestatements involve known and unknown risks, uncertainties and other important factors that may cause our actual results, performanceor achievements to be materially different from any future results, performance or achievements expressed or implied by the forward-looking statements. In some cases, you can identify forward-looking statements by terms such as “may,” “should,” “expect,” “plan,” “anticipate,” “could,”“intend,” “target,” “project,” “contemplate,” “believe,” “estimate,” “predict,” “potential” or “continue” or the negative of these termsor other similar expressions. The forward-looking statements in this Report are only predictions. We have based these forward-lookingstatements largely on our current expectations and projections about future events and financial trends that we believe may affect ourbusiness, financial condition and results of operations. These forward-looking statements speak only as of the date of this Report andare subject to a number of risks, uncertainties and assumptions described in the sections entitled “Risk Factors” and “Management'sDiscussion and Analysis of Financial Condition and Results of Operations” and elsewhere in this Report, our