NOTE 9 – LEASE

On May 12, 2021, the Company entered into a lease arrangement for office space in the U.S. On March 6, 2024, the Company entered into an amended agreement with the landlord to extend the lease commencing in September 2024, and effective until August 2027.

On April 14, 2026, the Company entered into a lease arrangement for office space in the U.K., commencing October 1, 2026, and effective until September 30, 2031, with an option to terminate on September 30, 2029. As the lease had not commenced as of September 30, 2026, no right-of-use asset or lease liability has been recognized. The lease provides for annual base rent of approximately $15, payable quarterly in advance and subject to a consumer price index-based rent review on October 1, 2029, plus variable service charges. Total undiscounted base rent payments over the non-cancellable period through September 30, 2029, are approximately $45. If the termination option is not exercised, rent is abated for six months following the break date, and total undiscounted base rent payments through September 30, 2031, before any rent review adjustment, would be approximately $67.

The following summarizes right-of-use asset and lease information about the Company’s operating leases as of September 30, 2026:

Future minimum lease payments under the operating lease liability have non-cancellable lease payments at September 30, 2026, as follows: