15. RESTATEMENT

During the three months ended March 31, 2024, the preferred stock dividend, the net loss attributable to common shareholders and the net loss per common share: basic and diluted omitted the earned, but undeclared, preferred stock dividend for the month of March 2024. This omission required the Company to restate those items in its condensed consolidated statement of operations in accordance with ASC 350-20 for the period. This omission had no impact on the condensed consolidated balance sheet, the condensed consolidated statement of shareholders’ equity, the condensed consolidated statement of cash flows and the condensed consolidated statement of comprehensive loss previously reported.

The earned preferred stock dividend for March 2024 was approximately $1.3 million. The condensed consolidated statement of operations for the three months ended March 31, 2024 has been restated to reflect these adjustments. The following table presents the effects of the changes to those items previously reported in the condensed consolidated statement of operations.

Adjustments to the Condensed Consolidated Statement of Operations for the three months ended March 31, 2024

SCHEDULE OF ADJUSTMENTS TO THE CONSOLIDATED STATEMENT OF OPERATIONS

Condensed Consolidated Statement of Operations:

This restatement will be reflected in the comparative condensed consolidated statements of operations in the Quarterly Report on Form 10-Q for the three months ended March 31, 2025.