Risk Factors Update Summary

• The Company issued 996 note units, consisting of two $250,000 notes and warrants to purchase 500,000 shares of common stock.
• The company raised $10 million through its IPO in 2022 and $4.3 million through a convertible note in 2023.
• Working capital deficit decreased from $1.7 million to $7.6 million due to cash received and repayments.
• Reclassifications and corrections made to prior year financial statements for immaterial errors. Corrections had no impact on reported results.
• The Company incurred $477,221 of loss on settlement and paid $16,588,524,667 of interest in cash.
• The company's net loss increased from $3.0 million in 2022 to $6.6 million in 2023.
• Cash used in operating activities increased from $2.7 million to $5.6 million in 2023.
• Changes in executive compensation for 2023: Anatoly Dritschilo M. D. increased from $289,308 to $314,012.
• Addition of $2,887,215 in trading marketable securities as of December 31, 2023.
• Working capital decreased from $7.6 million in 2022 to $4.6 million in 2023.
• Milton Brown, M. D., Ph. D. received 16,667 shares of common stock on 02/15/2023.
• The Company granted 1,018,079 shares of common stock at an exercise price of $2.35 per share.
• Net cash provided by financing activities decreased from $10.6 million to $2.6 million.
• The Company issued 1,442,000 new derivatives valued at $1,189,000 and $410,660.
• Proceeds from issuance of convertible notes payable and warrants totaled $3.6 million in 2023.
• Restricted Stock Units (RSUs) granted to executive officers and Directors increased from 99,273 to 160,744.
• Introduction of a new lease agreement for office and laboratory space with base rent of $7,206 per month.
• The Company awarded 100,000 restricted stock units to the CFO and 50,998 shares of Common Stock.
• Issuance of a convertible note of $13,759,300 and a warrant to purchase 1,018,079 shares of common stock.
• Net loss increased from $3.0 million to $6.6 million in 2023.
• Gain on settlement of accounts payable decreased from $328,687 to $0 in 2023.
• The Company entered into a lease agreement for new office space with a base rent of $7,206 per month.
• Recognition of $1,925,700 of principal and $294,927 of accrued interest settled in the form of 2,380,996 shares of common stock.
• Investment in marketable securities increased from $2.3 million to $3.0 million in 2023.
• Accounting for warrants as either equity or liability instruments based on warrant terms and features.
• The Company evaluated and concluded that its disclosure controls and procedures were ineffective as of December 31, 2023.
• Disclosure of government assistance received and accounting treatment for reimbursements related to R&D expenses.