Material Event (Form 8-K)

Item 8.01. Other Events.

On April 7, 2026, the Company amended its certificate of incorporation to implement a 1 for 15 reverse split of its common stock. The effect of the reverse stock split is to combine every 15 shares of outstanding common stock into one share of common stock. The reverse stock split is anticipated to be effective at the opening of the trading day on April 10, 2026. The Company implemented the reverse stock split in an effort to achieve compliance with the Nasdaq Stock Market's minimum bid price rule. In order for the Company to regain compliance with such Nasdaq rule, the Company's common stock must trade at or above $1.00 per share for ten consecutive trading days. Although the Company expects that it will, as a result of the reverse stock split, regain compliance with the Nasdaq's minimum bid price rule, there is no assurance that the Company will in fact be able to regain compliance. If the Company is not able to regain compliance, the Company's common stock will be delisted from the Nasdaq Stock Market.