The company executed a debt-for-equity exchange involving approximately $252.5 million in promissory notes held by Chicago Pacific Founders (CPF). The company raised $30 million in new capital through the issuance of Series D 19.5% Cumulative Preferred Stock and warrants. These actions were taken to regain compliance with Nasdaq Listing Rule 5550(b)(1), which requires a minimum of $2.5 million in stockholders' equity. Pro forma adjustments indicate stockholders' equity improved from a deficit of $143.5 million to a positive $82.1 million as of March 31, 2026.