NOTE 15 —SUBSEQUENT EVENTS

Bo Kruse Separation Agreement

On July 16, 2024, in connection with the previous announcement that Bo Kruse was resigning from his position as Chief Financial Officer of the Company, the Company entered into a separation agreement with Mr. Kruse and a consultancy agreement with Investeringsselskabet GH ApS, pursuant to which Mr. Kruse will provide consulting services to the Company. The terms of the separation agreement resulted in modifications to vesting and expiration terms of his awards, which resulted in a non-cash stock-based compensation expense of approximately $718,000 to be recorded in the Company’s financial statements for the third quarter of 2024 as there is no longer a service condition related to such awards. Also included in the separation agreement, Mr. Kruse is entitled to a bonus payment for the first seven months of 2024. On July 31, 2024, the Company paid the bonus amount of approximately $150,000, of which the amount related to the first six months of 2024 was included in the accrued liabilities on the consolidated balance sheet as of June 30, 2024. Under the terms of the consultancy agreement, which commenced on August 1, 2024, the Company

will pay approximately $520,000 over one year period upon the commencement of the agreement, and will recognize in the third quarter of 2024 as there is no longer a service condition related to such payments.