The Company evaluated subsequent events for their potential impact on the condensed consolidated financial statements and disclosures through the date the condensed consolidated financial statements were issued and determined that, except as set forth below, no subsequent events occurred that were reasonably expected to impact the condensed consolidated financial statements presented herein.

Series AAA Junior-2 Preferred Financing

On July 10, 2024, the Company entered into subscription agreements (each, a “Subscription Agreement” and collectively, the “Subscription Agreements”) with accredited investors with respect to the sale of an aggregate of 551 shares of newly designated Series AAA-2 Junior Convertible Preferred Stock, par value $0.001 per share (the “Series AAA-2 Junior Preferred”), at a purchase price of $1,000 per share, for aggregate gross proceeds to the Company of approximately $551,000 (the “Offering”).

In connection with the Offering, on July 10, 2024 (the “Filing Date”), the Company filed a Certificate of Designation of Preferences, Rights and Limitations of the Series AAA-2 Junior Convertible Preferred Stock (the “Series AAA-2 Certificate of Designation”) with the State of Delaware.

The Series AAA Junior-2 Convertible Preferred Stock preferences, rights, terms, conditions, provisions, arrangements and limitations are consistent with those applicable to the Series AAA Junior Preferred Stock described at Note 6 above.