OTLC — what changed in the latest 10-Q

Text added vs the prior filing · source: 10-Q · 2026-08-13

• For more information on, refer to Recent Joint Venture Developments below.

• During the three and six months ended June 30, 2026, the Company recorded services revenue of approximately $0.3 million in connection with the IP Services Agreement described above. No similar services revenue was recorded in the three and six months ended June 30, 2025.

• The Company received Series B Preferred Stock from Lunai with a stated Value of $12.5 million in exchange for the Company’s 62.5% equity interest in Neurobridge IP Holdings Incorporated. The transaction was accounted for as a sale of nonfinancial asset under FASB ASC 610-20 since the Company transfe…

• The subsequent remeasurement of the Series B Preferred Stock at fair value is governed by FASB ASC 321, Investments – Equity Securities. The Company holds its investment in publicly traded companies that have readily determinable fair value based on quoted market prices. Its investment is carried at…

• The consideration payable to Autotelic is contingent on the Company uplisting its Common Stock to a nationally recognized stock exchange. Such shares of the Company have not been issued to Autotelic as of the date of this filing and are not due to be issued till the uplisting of the Company’s stock …

Text removed vs the prior filing · source: 10-Q · 2026-05-14

• The Company announced in November 2025 that the JV obtained a preliminary independent third-party valuation of approximately $2.3 billion for its therapeutic pipeline, assuming and implying an illustrative value of approximately $1 billion based on the Company’s 45% ownership interest in the JV. The…

• In January 2026, the Company entered into a Securities Purchase Agreement (the “2026 Mast Hill Purchase Agreement”), with Mast Hill Fund, LP (“Mast Hill”), and the Company issued a convertible promissory note in the aggregate gross principal amount of approximately $398,333 (the “2026 Mast Hill Note…

• The 2026 Mast Hill Note has an original issue discount of 10%, carries an interest rate of 10% per annum and matures on the earlier of (a) the one-year anniversary of the date of the 2026 Mast Hill Purchase Agreement, or (b) the acceleration of the maturity of the 2026 Mast Hill Note by Mast Hill up…

• As of January 1, 2025, approximately $2 million was outstanding and payable to Autotelic. During the year ended December 31, 2025 Autotelic Inc. provided additional short-term funding of approximately $0.9 million to the Company. In the three months ended March 31, 2026 Autotelic Inc. provided addit…

• As of January 1, 2025, approximately $76,000 was outstanding and payable to the Company’s CFO. During the year ended December 31, 2025, the CFO provided additional short-term funding of $10,000. As such, approximately $86,000 was outstanding and payable to the Company’s CFO at March 31, 2026.