UNITED STATES

SECURITIES AND EXCHANGE COMMISSION

Washington, DC 20549

Form 10-Q

(Mark One)

☒ QUARTERLY REPORT PURSUANT TO SECTION 13 OR 15(d) OF THE SECURITIES EXCHANGE ACT OF 1934

For the Quarterly Period Ended ~~June~~March 3031, ~~2025~~2026

☐ TRANSITION REPORT PURSUANT TO SECTION 13 OR 15(d) OF THE SECURITIES EXCHANGE ACT OF 1934

For the transition period from ________ to ________

Commission File Number: 001-40439

NeuroOne Medical Technologies Corporation

(Exact name of Registrant as specified in its charter)

Delaware		27-0863354
(State or Other Jurisdiction of Incorporation or Organization)		(I.R.S. Employer Identification Number)

7599 Anagram Drive Eden Prairie, MN		55344
(Address of Principal Executive Offices)		(Zip Code)

Registrant’s Telephone Number, Including Area Code: 952-426-1383

Not Applicable
(Former name, former address and former fiscal year, if changed since last report)

Securities registered pursuant to Section 12(b) of the Act:

Title of Each Class		Trading Symbol(s)		Name of Each Exchange on Which Registered
Common stock, $0.001 par value		NMTC		The Nasdaq Stock Market LLC

Indicate by check mark whether the registrant (1) has filed all reports required to be filed by Section 13 or 15(d) of the Securities Exchange Act of 1934 during the preceding 12 months (or for such shorter period that the registrant was required to file such reports), and (2) has been subject to such filing requirements for the past 90 days. Yes ☒ No ☐

Indicate by check mark whether the registrant has submitted electronically every Interactive Data File required to be submitted pursuant to Rule 405 of Regulation S-T (section 232.405 of this chapter) during the preceding 12 months (or for such shorter period that the registrant was required to submit such files). Yes ☒ No ☐

Indicate by check mark whether the registrant is a large accelerated filer, an accelerated filer, a non-accelerated filer, a smaller reporting company, or an emerging growth company. See the definitions of “large accelerated filer”, “accelerated filer”, “smaller reporting company”, and “emerging growth company” in Rule 12b-2 of the Exchange Act:

Large accelerated filer	☐	Non-accelerated filer	☒
Accelerated filer	☐	Smaller reporting company	☒
		Emerging growth company	☐

If an emerging growth company, indicate by check mark if the registrant has elected not to use the extended transition period for complying with any new or revised financial accounting standards provided pursuant to Section 13(a) of the Exchange Act. ☐

Indicate by check mark whether the registrant is a shell company (as defined in Rule 12b-2 of the Exchange Act). Yes ☐ No ☒

The number of outstanding shares of the registrant’s common stock as of ~~August~~May 128, ~~2025~~2026 was 498,~~999~~619,~~519~~876.

NEUROONE MEDICAL TECHNOLOGIES CORPORATION

FORM 10-Q

INDEX

		~~Page~~	Page
	PART 1 – FINANCIAL INFORMATION	1
Item 1.	Financial Statements	1	1
	Condensed Balance Sheets as of June 30, 2025 (unaudited) and September 30, 2024	1
	Condensed Balance Sheets as of March 31, 2026 (unaudited) and September 30, 2025		1
	Condensed Statements of Operations for the three and nine months ended June 30, 2025 and 2024 (unaudited)	2
	Condensed Statements of Operations for the three and six months ended March 31, 2026 and 2025 (unaudited)		2
	Condensed Statements of Changes in Stockholders’ Equity for the three and nine months ended June 30, 2025 and 2024 (unaudited)	3
	Condensed Statements of Changes in Stockholders’ Equity for the three and six months ended March 31, 2026 and 2025 (unaudited)		3
	Condensed Statements of Cash Flows for the nine months ended June 30, 2025 and 2024 (unaudited)	4
	Condensed Statements of Cash Flows for the six months ended March 31, 2026 and 2025 (unaudited)		4
	Notes to Condensed Financial Statements (unaudited)	5	5
Item 2.	Management’s Discussion and Analysis of Financial Condition and Results of Operations	22	24
Item 3.	Quantitative and Qualitative Disclosures About Market Risk	34	37
Item 4.	Controls and Procedures	34	37
	PART II – OTHER INFORMATION	35
Item 1.	Legal Proceedings	35	38
Item 1A.	Risk Factors	35	38
Item 2.	Unregistered Sales of Equity Securities and Use of Proceeds	35	38
Item 3.	Defaults Upon Senior Securities	35	38
Item 4.	Mine Safety Disclosures	35	38
Item 5.	Other Information	35	38
Item 6.	Exhibits	36	39
SIGNATURES		37	40

PART I – FINANCIAL INFORMATION

Item 1. Financial Statements

NeuroOne Medical Technologies Corporation

Condensed Balance Sheets

	As of
	June 30,			September 30,
	March 31,			September 30,
	2025			2024
	2026			2025
	(Unaudited)
Assets
Current assets:
Cash and cash equivalents	$	82,~~039~~804,~~683~~011		$	16,~~460~~570,~~042~~382
Accounts receivable		—2,426,518			~~176~~1,~~636~~264,805
Inventory		1,897,701			2,635,153
Inventory, net		1,866,633			2,226,805
Deferred offering costs		—22,920			~~142~~22,~~633~~920
Prepaid expenses		~~233~~283,~~363~~716			~~216~~141,~~461~~372
Total current assets		107,~~170~~403,~~747~~798			410,~~630~~226,~~925~~284
Intangible assets, net		5033,~~525~~789			6744,~~262~~946
Right-of-use asset		~~283~~196,~~621~~775			~~254~~255,~~910~~195
Property and equipment, net		~~314~~230,~~588~~596			~~416~~259,~~843~~222
Total assets	$	107,~~819~~864,~~481~~958		$	510,~~369~~785,~~940~~647
Liabilities and Stockholders’ Equity
Current liabilities:
Accounts payable	$	~~467~~934,~~734~~196		$	1,~~029~~010,~~206~~369
Accrued expenses and other liabilities		~~958~~755,~~056~~258			1,~~184~~292,~~014~~714
Total current liabilities		1,~~425~~689,~~790~~454			2,~~213~~303,~~220~~083
Warrant liability		1709,~~040,894~~507			21,~~140~~266,~~315~~894
Operating lease liability, long term		~~175~~92,~~344~~361			~~194~~143,~~392~~148
Total liabilities		2,~~642~~491,~~028~~322			43,~~547~~713,~~927~~125
Commitments and contingencies (Note 4)
Stockholders’ equity:
Preferred stock, $0.001 par value; 10,000,000 shares authorized; no shares issued or outstanding.		—			—
Common stock, $0.001 par value; 100,000,000 shares authorized; 49,824,780 and 30,816,499 shares issued and outstanding as of June 30, 2025 and September 30, 2024, respectively.		49,825			30,816
Common stock, $0.001 par value; 100,000,000 shares authorized; 8,615,532 and 8,334,336 shares issued and outstanding as of March 31, 2026 and September 30, 2025, respectively.		8,616			8,334
Additional paid–in capital		8587,~~118~~498,~~194~~366			7585,~~795~~673,~~610~~975
Accumulated deficit		(7682,~~990~~133,~~566~~346	)		(7578,~~004~~609,~~413~~787	)
Total stockholders’ equity		85,~~177~~373,~~453~~636			~~822~~7,~~013~~072,522
Total liabilities and stockholders’ equity	$	107,~~819~~864,~~481~~958		$	510,~~369~~785,~~940~~647

See accompanying notes to condensed financial statements

NeuroOne Medical Technologies Corporation

Condensed Statements of Operations

(unaudited)

	For the Three Months Ended						For the ~~Nine~~Six Months Ended
	June 30,						June 30,
	March 31,						March 31,
	2025			2024			2025			2024
	2026			2025			2026			2025
Product revenue	$	12,~~696~~391,~~050~~185		$	~~825~~1,~~776~~386,550		$	65,~~356~~283,~~767~~820		$	34,~~180~~660,~~719~~717
Cost of product revenue		~~781~~1,~~215~~104,568			~~543~~615,~~904~~489			2,~~743~~429,~~982~~375			21,~~242~~962,~~114~~767
Product gross profit		~~914~~1,~~835~~286,617			~~281~~771,~~872~~061			32,~~612~~854,~~785~~445			~~938~~2,~~605~~697,950
License revenue		—			—			~~3,000,000~~—			—3,000,000
Operating expenses:
Selling, general and administrative		1,~~618~~919,~~950~~371			1,~~881~~940,~~099~~414			53,~~602~~804,~~818~~826			63,~~057~~983,~~520~~868
Research and development		1,~~182~~468,~~485~~090			1,~~194~~510,~~674~~663			32,~~865~~857,~~376~~770			32,~~951~~682,~~559~~891
Total operating expenses		23,~~801~~387,~~435~~461			3,~~075~~451,~~773~~077			96,~~468~~662,~~194~~596			106,~~009~~666,~~079~~759
Loss from operations		(12,~~886~~100,~~600~~844	)		(2,~~793~~680,~~901~~016	)		(23,~~855~~808,~~409~~151	)		(9968,~~070,474~~809	)
Fair value change in warrant liability		~~319~~(8,~~625~~271	)		—390,351			1214,~~099,421~~469			—779,796
Financing costs		~~(9,325~~—	)		—			~~(334,063~~—	)		—(324,738	)
Other income		7523,~~432~~446			2619,~~376~~058			~~103~~70,~~898~~123			~~102~~28,~~959~~466
Loss before income taxes		(12,~~500~~085,~~868~~669	)		(2,~~767~~270,~~525~~607	)		(13,~~986~~523,~~153~~559	)		(8485,~~967,515~~285	)
Provision for income taxes		—			—			—			—
Net loss	$	(12,~~500~~085,~~868~~669	)	$	(2,~~767~~270,~~525~~607	)	$	(13,~~986~~523,~~153~~559	)	$	(8485,~~967,515~~285	)
Net loss per share:
Net loss per share (Note 1):
Basic and diluted	$	(0.03	)	$	(0.10	)	$	(0.05	)	$	(0.35	)
Basic	$	(0.25	)	$	(0.44	)	$	(0.42	)	$	(0.09	)
Number of shares used in per share calculations:
Diluted	$	(0.25	)	$	(0.44	)	$	(0.44	)	$	(0.09	)
Basic and diluted		48,604,996			27,352,660			36,850,431			25,746,503
Number of shares used in per share calculations (Note 1):
Basic		8,484,926			5,185,075			8,436,158			5,161,971
Diluted		8,484,926			5,185,075			8,554,213			5,161,971

See accompanying notes to condensed financial statements

NeuroOne Medical Technologies Corporation

Condensed Statements of Changes in Stockholders’ Equity

(unaudited)

							Additional						Total
	Common Stock						Additional Paid–In			Accumulated			Total Stockholders’
	Common Stock						Paid-In			Accumulated			Stockholders’
	Shares			Amount			Capital			Deficit			Equity
Balance at September 30, 2023		23,928,945		$	23,929		$	68,911,778		$	(62,686,303	)	$	6,249,404
Balance at September 30, 2024		5,135,861		$	5,136		$	75,821,290		$	(75,004,413	)	$	822,013
Issuance of common stock attributed to equity financings		868,243			868			1,255,403			—			1,256,271
Stock-based compensation		—			—			339,224			—			339,224
Issuance costs related to equity financings		—			—			(37,698	)		—			(37,698	)
Issuance of common stock upon vesting of restricted stock units		6,295			6			(6	)		—			—
Stock-based compensation		—			—			308,638			—			308,638
Share repurchases for the payment of employee taxes		(2,075	)		(2	)		(11,265	)					(11,267	)
Issuance of common stock upon vesting of restricted stock units		45,078			45			(45	)		—			—
Net income		—			—			—			1,785,322			1,785,322
Share repurchases for the payment of employee taxes		(11,176	)		(11	)		(13,548	)		—			(13,559	)
Balance at December 31, 2024		5,140,081			5,140			76,149,243			(73,219,091	)		2,935,292
Net loss		—			—			—			(3,344,900	)		(3,344,900	)
Issuance of common stock attributed to equity financings		59,314			59			413,978			—			414,037
Balance at December 31, 2023		24,831,090			24,831			70,424,528			(66,031,203	)		4,418,156
Issuance costs related to equity financings		—			—			(95,929	)		—			(95,929	)
Issuance of common stock attributed to equity financings		1,461,353			1,461			2,092,735			—			2,094,196
Stock-based compensation		—			—			250,170			—			250,170
Issuance costs related to equity financings		—			—			(148,382	)		—			(148,382	)
Issuance of common stock upon vesting of restricted stock units		47,017			47			(47	)		—			—
Stock-based compensation		—			—			356,858			—			356,858
Share repurchases for the payment of employee taxes		(15,719	)		(15	)		(107,090	)		—			(107,105	)
Issuance of common stock upon vesting of restricted stock units		37,689			38			(38	)		—			—
Net loss		—			—			—			(2,270,607	)		(2,270,607	)
Share repurchases for the payment of employee taxes		(8,382	)		(8	)		(11,287	)		—			(11,295	)
Balance at March 31, 2025		5,230,693		$	5,231		$	76,610,325		$	(75,489,698	)	$	1,125,858
Net loss		—			—			—			(2,855,090	)		(2,855,090	)
Balance at March 31, 2024		26,321,750			26,322			72,714,414			(68,886,293	)		3,854,443
Issuance of common stock attributed to the at-the-market offering		1,419,317			1,419			1,682,020			—			1,683,439
Issuance costs related to the at-the-market offering		—			—			(50,519	)		—			(50,519	)
Stock-based compensation		—			—			338,609			—			338,609
Issuance of common stock upon vesting of restricted stock units		146,740			147			(147	)		—			—
Share repurchases for the payment of employee taxes		(41,085	)		(41	)		(46,679	)		—			(46,720	)
Net loss		—			—			—			(2,767,525	)		(2,767,525	)
Balance at June 30, 2024		27,846,722		$	27,847		$	74,637,698		$	(71,653,818	)	$	3,011,727

	Common Stock						Additional Paid–In			Accumulated			Total Stockholders’
	Shares			Amount			Capital			Deficit			Equity
Balance at September 30, 2024		30,816,499		$	30,816		$	75,795,610		$	(75,004,413	)	$	822,013
Balance at September 30, 2025		8,334,336		$	8,334		$	85,673,975		$	(78,609,787	)	$	7,072,522
Stock-based compensation		—			—			~~339~~359,~~224~~255			—			~~339~~359,~~224~~255
Issuance of common stock upon vesting of restricted stock units		37,798			37			(37	)		—			—
Exercise of warrants		62,500			63			411,607			—			411,670
Share repurchases for the payment of employee taxes		(12,467	)		(12	)		(11,255	)					(11,267	)
Issuance of common stock upon vesting of restricted stock units		5,959			6			(6	)		—			—
Net income		—			—			—			1,785,322			1,785,322
Share repurchases for the payment of employee taxes		(680	)		(1	)		(3,631	)		—			(3,632	)
Balance at December 31, 2024		30,841,830			30,841			76,123,542			(73,219,091	)		2,935,292
Net loss		—			—			—			(1,437,890	)		(1,437,890	)
Issuance of common stock attributed to equity financings		355,899			356			413,681			—			414,037
Balance at December 31, 2025		8,402,115			8,402			86,441,200			(80,047,677	)		6,401,925
Issuance costs related to equity financings		—			—			(95,929	)		—			(95,929	)
Issuance of common stock attributed to equity financings		166,666			167			670,233						670,400
Stock-based compensation		—			—			~~250~~342,~~170~~135			—			~~250~~342,~~170~~135
Issuance of common stock upon vesting of restricted stock units		282,128			282			(282	)		—			—
Exercise of warrants		14,470			15			105,607			—			105,622
Share repurchases for the payment of employee taxes		(94,331	)		(94	)		(107,011	)		—			(107,105	)
Issuance of common stock upon vesting of restricted stock units		47,069			47			(47	)		—			—
Net loss		—			—			—			(2,270,607	)		(2,270,607	)
Share repurchases for the payment of employee taxes		(14,788	)		(15	)		(60,762	)		—			(60,777	)
Balance at March 31, 2025		31,385,526			31,385			76,584,171			(75,489,698	)		1,125,858
Net loss		—			—			—			(2,085,669	)		(2,085,669	)
Issuance of common stock attributed to equity financing		18,400,000			18,400			9,181,600			—			9,200,000
Balance at March 31, 2026		8,615,532		$	8,616		$	87,498,366		$	(82,133,346	)	$	5,373,636
Issuance costs related to equity financing		—			—			(960,717	)		—			(960,717	)
Stock-based compensation		—			—			316,654			—			316,654
Issuance of common stock upon vesting of restricted stock units		43,339			44			(44	)		—			—
Share repurchases for the payment of employee taxes		(4.085	)		(4	)		(3,470	)		—			(3,474	)
Net loss		—			—			—			(1,500,868	)		(1,500,868	)
Balance at June 30, 2025		49,824,780		$	49,825		$	85,118,194		$	(76,990,566	)	$	8,177,453

See accompanying notes to condensed financial statements

NeuroOne Medical Technologies Corporation

Condensed Statements of Cash Flows

(unaudited)

	For the Nine Months Ended June 30,
	For the Six Months Ended March 31,
	2025			2024
	2026			2025
Operating activities
Net loss	$	(13,~~986~~523,~~153~~559	)	$	(8485,~~967,515~~285	)
Adjustments to reconcile net loss to net cash used in operating activities:
Adjustments to reconcile net loss to net cash (used in) provided by operating activities:
Amortization and depreciation		~~197~~125,~~355~~552			~~182~~130,~~664~~761
Valuation adjustments for excess or obsolete inventory		7,500			—
Stock-based compensation		701,390			589,394
Stock-based compensation		906,048			1,004,105
Amortization of deferred offering costs		—			192,647
Amortization of deferred offering costs		192,647			—
Non-cash lease expense		58,420			55,156
Non-cash lease expense		83,187			86,611
Fair value change in warrant liability		(214,469	)		(779,796	)
Fair value change in warrant liability		(1,099,421	)		—
Debt termination costs reclassed to financing activities		—			132,091
Debt and equity facility termination costs reclassed to financing activities		141,416			—
Change in assets and liabilities:
Accounts receivable		~~176~~(1,~~636~~161,713	)		(~~410~~142,~~551~~144	)
Inventory		~~729~~360,~~952~~172			~~(66~~800,~~746~~546	)
Prepaid expenses		(16142,~~902~~344	)		28,~~269~~394
Accounts payable		(~~286~~59,~~960~~752	)		4480,~~787~~885
Accrued expenses, operating leases and other liabilities		(~~356~~588,~~905~~243	)		(~~220~~430,~~581~~744	)
Net cash used in operating activities		(1,311,600	)		(8,344,957	)
Net cash (used in) provided by operating activities		(4,444,546	)		151,905
Investing activities
Purchase of property and equipment		(7179,~~135~~270	)		(8327,~~292~~587	)
Net cash used in investing activities		(7179,~~135~~270	)		(8327,~~292~~587	)
Financing activities
Proceeds from issuance of common stock attributed to equity financings		9670,~~614,037~~400			5414,~~033,906~~037
Issuance costs related equity financings		~~(1,231,873~~—	)		(~~236~~261,~~599~~832	)
Financing costs in connection with debt facility		~~(297,942~~—	)		—(297,942	)
Share repurchases for the payment of employee taxes		(121,846	)		(71,574	)
Deferred issuance costs in connection with at-the-market offering program		(22,920	)		—
Net cash provided by financing activities		7,962,376			4,725,733
Exercise of warrants		174,374			—
Net increase (decrease) in cash and cash equivalents		6,579,641			(3,702,516	)
Share repurchases for the payment of employee taxes		(64,409	)		(118,372	)
Cash and cash equivalents at beginning of period		1,460,042			5,322,493
Net cash provided by provided by (used in) financing activities		757,445			(264,109	)
Cash and cash equivalents at end of period	$	8,039,683		$	1,619,977
Net decrease in cash and cash equivalents		(3,766,371	)		(139,791	)
Cash and cash equivalents at beginning of period		6,570,382			1,460,042
Cash and cash equivalents at end of period	$	2,804,011		$	1,320,251
Supplemental non-cash financing and investing transactions:
Modification of right-of-use asset and associated lease liability	$	111,898		$	199,385
Change in unpaid issuance costs	$	22,920		$	72,377
Purchased property and equipment in accounts payable	$	7,228		$	34,000
Modification of right-of-use asset and associated lease liability	$	—		$	111,898
Purchased property and equipment in accounts payable	$	6,499		$	10,026
Cashless exercise of warrants	$	87,188		$	—
Reclass of warrant liability to equity upon exercise	$	342,918		$	—

See accompanying notes to condensed financial statements

NeuroOne Medical Technologies Corporation ~~Notes to Condensed Financial Statements (unaudited)~~

~~NOTE 1~~Notes –to ~~Description~~Condensed ofFinancial ~~Business and Basis of Presentation~~Statements

~~NeuroOne Medical Technologies Corporation~~ (~~the “Company” or “NeuroOne”~~unaudited), a Delaware corporation, is a medical technology company focused on the development and commercialization of thin film electrode for continuous electroencephalogram (“cEEG”) and stereoelectrocencephalography (“sEEG”) recording, monitoring, ablation, drug delivery and brain stimulation solutions to diagnose and treat patients with epilepsy, Parkinson’s disease, dystonia, essential tremors, chronic pain due to failed back surgeries and other related neurological disorders.

~~The Company~~NOTE ~~has~~1 ~~received~~– ~~510(k)~~Description ~~clearance from the United States (“U.S.”) Food and Drug Administration (“FDA”) for three~~ of ~~its~~Business ~~devices: (i) its Evo cortical electrode technology for recording, monitoring,~~ and ~~stimulating~~Basis brain tissue for up to 30 days, (ii) its Evo® sEEG electrode technology for temporary (less than 30 days) use with recording, monitoring, and stimulation equipment for the recording, monitoring, and stimulation of electrical signals at the subsurface level of the brain; and (iii) its OneRF ablation system for creation of radiofrequency lesions in nervous tissue for functional neurosurgical procedures. The Company has a distribution agreement with Zimmer, Inc. (“Zimmer”) providing Zimmer with a license to commercialize and distribute these three products in the brain. The Company’s other products and indications are still under development.Presentation

~~The~~NeuroOne Medical Technologies Corporation (the “Company” or “NeuroOne”), a Delaware corporation, is ~~based~~a inmedical ~~Eden~~technology ~~Prairie~~company focused on the development and commercialization of thin film electrode for continuous electroencephalogram (“cEEG”) and stereoelectrocencephalography (“sEEG”) recording, ~~Minnesota~~monitoring, ablation and stimulation solutions to diagnose and treat patients with epilepsy, trigeminal neuralgia, Parkinson’s disease, dystonia, essential tremors, chronic pain due to failed back surgeries and other pain-related neurological disorders. The Company is also developing the capability to use its sEEG electrode technology to deliver drugs or gene therapy while being able to record activity before, during, and after delivery.

~~Global~~The Company has received 510(k) clearance from ~~Economic~~the ~~Conditions~~United States (“U.S.”) Food and Drug Administration (“FDA”) for four of its devices: (i) its Evo cortical electrode technology for recording, monitoring, and stimulating brain tissue for up to 30 days (“Evo Cortical”), (ii) its Evo® sEEG electrode technology for temporary (less than 30 days) use with recording, monitoring, and stimulation equipment for the recording, monitoring, and stimulation of electrical signals at the subsurface level of the brain (“Evo sEEG”); (iii) its OneRF ablation system for creation of radiofrequency lesions in nervous tissue for functional neurosurgical procedures (the “OneRF Ablation System”) and (iv) our OneRF TN ablation system for use in procedures to create radiofrequency (RF) lesions for the treatment of pain, or for lesioning nerve tissue for functional neurosurgical procedures (“OneRF TN Ablation System”, together with the Evo Cortical, Evo sEEG, and OneRF Ablation System, the “Commercialized Products”). The Company has a distribution agreement with Zimmer, Inc. (“Zimmer”) providing Zimmer with a license to commercialize and distribute the Evo Cortical, Evo sEEG, and OneRF Ablation System in the brain. The Company initiated a limited market release of its OneRF TN Ablation System in December 2025 and completed the limited market release in March 2026. The Company’s other products and indications are still under development.

Generally, worldwide economic conditions remain uncertain, particularly due to the conflicts between Russia and Ukraine and in the Middle East, disruptions in the banking system and financial markets, and increased inflation. The ~~general~~Company ~~economic~~is ~~and~~based ~~capital market conditions both~~ in ~~the~~Eden ~~U.S. and worldwide~~Prairie, ~~have been volatile in the past and at times have adversely affected the Company’s access to capital and increased the cost of capital~~Minnesota. The capital and credit markets may not be available to support future capital raising activity on favorable terms or at all. If economic conditions continue to decline, the Company’s future cost of equity or debt capital and access to the capital markets could be adversely affected. The Company does not currently anticipate any significant impact from current or proposed tariffs on imported goods.

~~The Company’s~~Global ~~operating~~Economic results could be materially impacted by changes in the overall macroeconomic environment and other economic factors. Changes in economic conditions, supply chain constraints, logistics challenges, labor shortages, the conflicts in Ukraine and the Middle East, disruptions in the banking system and financial markets, and steps taken by governments and central banks, have led to higher inflation, which has led to an increase in costs and has caused changes in fiscal and monetary policy, including increased interest rates.Conditions

~~Basis~~Generally, worldwide economic conditions remain uncertain, particularly due to the conflicts between Russia and Ukraine and in the Middle East, disruptions in the banking system and financial markets, and increased inflation. The general economic and capital market conditions both in the U.S. and worldwide, have been volatile in the past and at times have adversely affected the Company’s access to capital and increased the cost of ~~presentation~~capital. The capital and credit markets may not be available to support future capital raising activity on favorable terms or at all. If economic conditions continue to decline, the Company’s future cost of equity or debt capital and access to the capital markets could be adversely affected. The Company has experienced minor price increases from our suppliers related to tariffs on imported goods and may experience additional price increases.

The ~~accompanying~~ ~~unaudited~~Company’s ~~condensed~~operating ~~financial~~results ~~statements~~could ~~have~~be materially ~~been~~impacted ~~prepared~~ by ~~the~~changes ~~Company,~~in ~~pursuant~~the tooverall ~~the~~macroeconomic ~~rules~~environment and ~~regulations~~other ofeconomic ~~the U~~factors.S. ~~Securities~~Changes ~~and~~in ~~Exchange~~economic ~~Commission~~conditions, ~~(the~~supply chain ~~“SEC”).~~constraints, ~~Certain~~logistics ~~information~~challenges, ~~and~~labor ~~footnote~~shortages, ~~disclosures~~the ~~normally~~conflicts ~~included~~ in ~~financial statements~~Ukraine ~~prepared~~and inthe ~~accordance~~Middle ~~with~~East, ~~U.S.~~disruptions ~~generally~~in ~~accepted~~the ~~accounting~~banking ~~principles~~system and ~~(“U.S.~~financial ~~GAAP”)~~markets, ~~have~~and ~~been~~steps ~~condensed~~taken ~~or omitted~~by ~~pursuant~~governments ~~to such rules~~ and ~~regulations.~~central ~~The~~banks, ~~condensed~~have ~~financial~~led ~~statements~~to ~~may~~higher ~~not~~inflation, ~~include~~which ~~all~~has ~~disclosures~~led ~~required~~to byan ~~U.S.~~increase ~~GAAP;~~in ~~however,~~costs ~~the~~and ~~Company~~has ~~believes~~caused ~~that~~changes ~~the~~in ~~disclosures~~fiscal ~~are~~and ~~adequate~~monetary topolicy, ~~make~~including ~~the~~increased ~~information~~interest ~~presented~~rates. ~~not~~The ~~misleading.~~Company ~~These~~expects ~~unaudited~~to ~~condensed financial~~submit ~~statements~~a ~~should~~request for bea ~~read~~tariff inrefund ~~conjunction~~for ~~with~~minor ~~the~~tariffs ~~audited~~paid ~~financial~~by ~~statements~~the ~~and~~Company to the ~~notes~~U.S. ~~thereto~~government ~~for~~under the ~~year~~International ~~ended~~Emergency ~~September 30,~~Economic ~~2024~~Powers ~~included~~Act, but in the ~~Company’s~~timing ~~Annual~~and ~~Report~~amount onof ~~Form~~cash ~~10-K.~~receipt ~~The~~pursuant ~~condensed~~to ~~balance~~such ~~sheet~~future atsubmission ~~September~~remains ~~30,~~uncertain. ~~2024~~We ~~was~~will ~~derived~~continue ~~from the~~to ~~audited~~monitor ~~financial~~guidance ~~statements~~issued regarding of the ~~Company~~refund process.

~~In the~~Basis ~~opinion~~ of management, all adjustments, consisting of only normal recurring adjustments that are necessary to present fairly the financial position, results of operations, and cash flows for the interim periods, have been made. The results of operations for the interim periods are not necessarily indicative of the operating results for the full fiscal year or any future periods.presentation

5The accompanying unaudited condensed financial statements have been prepared by the Company, pursuant to the rules and regulations of the U.S. Securities and Exchange Commission (the “SEC”). Certain information and footnote disclosures normally included in financial statements prepared in accordance with U.S. generally accepted accounting principles (U.S. GAAP) have been condensed or omitted pursuant to such rules and regulations. The condensed financial statements may not include all disclosures required by U.S. GAAP; however, the Company believes that the disclosures are adequate to make the information presented not misleading. These unaudited condensed financial statements should be read in conjunction with the audited financial statements and the notes thereto for the year ended September 30, 2025 included in the Company’s Annual Report on Form 10-K. The condensed balance sheet at September 30, 2025 was derived from the audited financial statements of the Company.

~~NeuroOne Medical Technologies Corporation~~5

~~Notes to~~NeuroOne ~~Condensed~~Medical ~~Financial~~Technologies ~~Statements~~Corporation

~~(unaudited)~~Notes to Condensed Financial Statements

~~NOTE 2 – Liquidity~~ (unaudited)

~~The accompanying~~In ~~condensed financial statements have been prepared on~~ the ~~basis~~opinion ~~that~~of ~~the Company will continue as a going concern. The Company has incurred losses since inception~~management, ~~negative~~all ~~cash flows from operations since inception~~adjustments, ~~and an accumulated deficit of $77.0 million~~ asconsisting of ~~June~~only ~~30,~~normal ~~2025.~~recurring Toadjustments ~~date,~~that ~~the~~are ~~Company’s~~necessary ~~revenues have not been sufficient~~ to ~~cover~~present ~~its~~fairly ~~full~~the ~~operating~~financial ~~costs~~position, ~~and~~results asof ~~such~~operations, itand ~~has~~cash ~~been~~flows ~~dependent~~for ~~on funding operations through~~ the ~~issuance~~interim ~~of debt and sale of equity securities which previously resulted in substantial doubt regarding the Company's ability to continue as a going concern. As of June 30~~periods, ~~2025,~~have ~~the~~been ~~Company had $8~~made.0 ~~million in cash and cash equivalents.~~ The ~~Company~~results ~~believes~~of ~~its~~operations ~~current~~for ~~available cash and cash equivalents coupled with~~ the ~~anticipated~~interim ~~increase~~periods inare ~~product~~not ~~revenues from~~necessarily ~~minimum~~indicative ~~purchases and improved gross margins under~~ of the ~~Zimmer Amendment and forecasted~~ operating ~~expense~~results ~~reductions, will be sufficient to fund the Company’s planned expenditures and meet its obligations~~ for ~~at least twelve months from~~ the ~~date~~full offiscal ~~issuance~~year ofor ~~these financial~~any ~~statements~~future periods.

~~In the~~Reverse ~~future,~~Stock the Company may need to raise additional funds until it is able to generate sufficient revenues to fund its development activities. The Company’s future operating activities, coupled with its plans to raise capital or issue debt financing, may provide additional liquidity in the future; however, these actions are not solely within the control of the Company and the Company is unable to predict the outcome of these actions to generate the liquidity ultimately required.Split

~~NOTE~~On April 14, 2026, the 3Company –filed ~~Summary~~an amendment to its Amended and Restated Certificate of ~~Significant~~Incorporation, ~~Accounting~~as ~~Policies~~amended and/or restated from time to time, to effectuate a reverse stock split of the Company’s issued and outstanding shares of common stock, par value $0.001 per share (the “Reverse Stock Split”). Trading of the common stock on The Nasdaq Capital Market commenced on a split-adjusted basis at market open on April 16, 2026. All amounts in the condensed financial statements have been retroactively adjusted to reflect the Reverse Stock Split.

~~Management~~As a result of the Reverse Stock Split, every 6 shares of the Company’s common stock issued or outstanding was automatically reclassified into one validly ~~Use~~issued, fully-paid and non-assessable new share of ~~Estimates~~common stock, subject to the treatment of fractional shares as described below, without any action on the part of the holders. Proportional adjustments were made to the number of shares of common stock awarded and available for issuance under the Company’s equity incentive plans, as well as the exercise price and the number of shares issuable upon the exercise or conversion of the Company’s outstanding stock options and other equity securities under the Company’s equity incentive plans. All outstanding warrants were also adjusted in accordance with their terms. The shares of common stock outstanding following the Reverse Stock Split will remain fully paid and non-assessable. The Reverse Stock Split did not affect the number of authorized shares of common stock or the par value per share of the common stock.

~~The preparation~~No offractional ~~financial~~shares were ~~statements~~issued in ~~conformity~~connection with Uthe Reverse Stock Split.S. ~~GAAP~~Stockholders ~~requires~~who ~~management~~would otherwise be entitled to ~~make~~receive ~~estimates~~fractional ~~and~~shares ~~assumptions~~as ~~that~~a result ~~affect~~of the ~~reported~~ ~~amounts~~Reverse ofStock ~~assets~~Split ~~and~~were ~~liabilities~~automatically ~~and~~entitled ~~disclosure~~to ofreceive ~~contingent~~a ~~assets~~cash ~~and~~payment ~~liabilities~~equal atto the ~~date~~market value of the ~~financial~~fractional ~~statements~~share. ~~and~~The ~~the~~Reverse ~~reported~~Stock ~~amounts~~Split ofaffected ~~revenues~~all stockholders uniformly and ~~expenses~~did ~~during~~not alter any stockholder’s relative interest in the ~~reporting~~Company’s equity ~~period.~~securities, ~~Actual~~except ~~results~~for ~~could~~any ~~differ~~adjustments ~~from~~for ~~those~~fractional ~~estimates~~shares.

~~Segment Information~~NOTE 2 - Going Concern

~~Operating~~The accompanying condensed financial statements ~~segments~~have ~~are~~been ~~components~~prepared ofon anthe ~~enterprise~~basis ~~for~~that ~~which~~the ~~separate~~Company ~~financial~~will ~~information~~continue isas ~~available~~a going concern. The Company has incurred losses since inception, negative cash flows from operations, and ~~are~~an ~~evaluated~~accumulated ~~regularly~~deficit byof $82.1 million as of March 31, 2026. To date, the Company’s revenues have ~~chief~~not been sufficient to cover its full operating ~~decision~~costs, ~~maker~~and inas ~~deciding~~such, ~~how~~it tohas ~~allocate~~been ~~resources~~dependent on funding operations through the issuance of debt and ~~assessing~~sale ~~performance.~~of ~~The~~equity securities which previously resulted in substantial doubt regarding the Company’s ~~chief~~ability ~~operating~~to ~~decision~~continue as ~~maker~~a isgoing ~~its~~concern. ~~Chief~~As ~~Executive~~of ~~Officer~~March 31, 2026, the Company had $2.8 million in cash and cash equivalents. The Company’s ~~Chief~~believes ~~Executive~~its ~~Officer~~current available ~~views~~cash and cash equivalents coupled with the ~~Company’s~~anticipated ~~operations~~increase in product revenues from minimum purchases and ~~manages~~improved ~~its~~gross ~~business~~margins inunder ~~one~~the distribution agreement with Zimmer (See “Note 7– Zimmer Distribution Agreement and Other Product Revenue”) and forecasted operating ~~segment~~expense reductions, ~~which~~will isbe sufficient to fund the ~~business~~Company’s operations through September 2026. The raising of ~~development~~additional ~~and~~funds ~~commercialization~~is not solely within the control of ~~products~~the ~~related~~Company. toThese ~~comprehensive~~factors ~~neuromodulation~~raise substantial doubt about the Company’s ability ~~cEEG~~to ~~and~~continue ~~sEEG~~as ~~recording,~~a ~~monitoring,~~going ~~ablation,~~concern. ~~and~~The ~~brain~~condensed ~~stimulation~~financial ~~solutions~~statements do not include any adjustments that might result from the outcome of this condition. ~~Accordingly~~If the Company is unable to raise additional funds, or the Company’s ~~has~~anticipated aoperating ~~single~~results ~~reporting~~are ~~segment~~not achieved, management believes planned expenditures may need to be reduced in order to extend the time period that existing resources can fund the Company’s operations.

~~Cash~~The Company intends to fund ongoing activities by utilizing its current cash and ~~Cash~~cash ~~Equivalents~~equivalents on hand, from product and collaborations revenue and by raising additional capital through equity or debt financing. If management is unable to obtain the necessary capital, it may have a material adverse effect on the operations of the Company and the development of its technology, or the Company may have to cease operations altogether.

The Company considers all highly liquid investments with an original contractual maturity on date of purchase of less than or equal to three months to be classified and presented as cash equivalents on the condensed balance sheets. Cash equivalents are stated at cost, which approximates fair value. The Company’s cash and cash equivalents may include demand deposit accounts with large financial institutions, institutional money market funds, U.S. Treasury securities, and corporate notes and bonds. The Company monitors the creditworthiness of the financial institutions, institutional money market funds, and corporations in which the Company invests its surplus funds. The Company has experienced no credit losses from its cash and cash equivalent investments.6

6NeuroOne Medical Technologies Corporation

~~NeuroOne Medical~~Notes ~~Technologies~~to ~~Corporation~~Condensed Financial Statements

~~Notes to Condensed Financial Statements~~(unaudited)

~~(unaudited)~~NOTE 3 – Summary of Significant Accounting Policies

~~Revenue Recognition~~Management’s Use of Estimates

The preparation of financial statements in conformity ~~Company~~with ~~entered~~U.S. ~~into~~GAAP arequires ~~development~~management to make estimates and ~~distribution~~assumptions ~~agreement~~that ~~which~~affect ~~has~~the ~~current~~reported ~~and~~amounts ~~future~~of ~~revenue~~assets ~~recognition~~and ~~implications.~~liabilities ~~See~~and ~~“Note~~disclosure 7of –contingent ~~Zimmer~~assets ~~Distribution~~and ~~Agreement~~liabilities at the date of the financial statements and ~~Other~~the ~~Product~~reported ~~Revenue~~amounts of revenues and expenses during the reporting period.” Actual results could differ from those estimates.

~~In determining~~Segment the appropriate amount of revenue to be recognized as it fulfills its obligations under its agreements, the Company performs the following steps: (i) identification of the promised goods or services in the contract; (ii) determination of whether the promised goods or services are performance obligations, including whether they are distinct in the context of the contract; (iii) measurement of the transaction price, including the constraint on variable consideration; (iv) allocation of the transaction price to the performance obligations based on estimated selling prices; and (v) recognition of revenue when (or as) the Company satisfies each performance obligation.Information

~~A performance~~Operating ~~obligation~~segments isare acomponents ~~promise~~of inan aenterprise for ~~contract~~which toseparate ~~transfer~~financial ainformation ~~distinct~~is ~~good~~available orand ~~service~~are toevaluated ~~the~~regularly ~~customer~~by ~~and is~~ the ~~unit~~Company’s ofchief ~~account~~operating ~~in Accounting~~decision ~~Standards Codification~~ maker (“~~ASC~~CODM”) ~~Topic~~in ~~606~~deciding ~~(“ASC~~how 606”). Performance obligations may include license rights, development services, and services associated with regulatory submission and approval processes. Significant management judgment is required to ~~determine~~allocate ~~the~~resources ~~level of effort required under an arrangement~~ and ~~the~~assessing ~~period over which the Company expects to complete its~~ performance ~~obligations under the arrangement~~. IfThe ~~the~~ Company’s ~~cannot~~CODM ~~reasonably~~is ~~estimate when~~ its Chief ~~performance obligations are either~~Executive ~~completed~~Officer. orThe ~~become~~Company’s ~~inconsequential,~~Chief ~~then~~Executive ~~revenue~~Officer ~~recognition~~views ~~is deferred until~~ the Company’s ~~can~~operations ~~reasonably~~and ~~make~~manages ~~such~~its ~~estimates.~~business ~~Revenue~~in one operating issegment. ~~then~~See ~~recognized~~“Note ~~over~~14 ~~the~~– ~~remaining~~Segment ~~estimated period of performance using the cumulative catch-up method~~Reporting”.

~~Product Revenue~~Cash and Cash Equivalents

~~Revenues~~The Company considers all highly liquid investments ~~from~~with ~~product~~an ~~sales~~original ~~are~~contractual ~~recognized~~maturity ~~when~~on ~~control~~date of ~~the~~purchase ~~promised~~of ~~goods~~less than or ~~services~~equal isto ~~transferred~~three months to be classified and presented as cash equivalents on the balance sheets. Cash equivalents are stated at cost, which approximates fair value. The Company’s ~~customers,~~cash inand cash anequivalents ~~amount~~may ~~that~~include ~~reflects~~demand ~~the~~deposit ~~consideration~~accounts ~~the~~with ~~Company~~large ~~expects~~financial toinstitutions, beinstitutional ~~entitled~~money tomarket infunds, ~~exchange~~U.S. ~~for~~Treasury ~~those~~securities, and ~~goods~~corporate ornotes ~~services~~and bonds. AtThe Company monitors the ~~inception~~ creditworthiness of ~~each~~the ~~customer~~financial ~~contract~~institutions, ~~performance~~institutional ~~obligations~~money ~~are~~market ~~identified~~ funds, and corporations in which the ~~total~~Company ~~transaction~~invests ~~price~~its issurplus ~~allocated~~funds. toThe ~~the~~Company ~~performance~~has ~~obligations~~experienced no credit losses from its cash and cash equivalent investments.

~~Cost of~~Revenue ~~Product~~Recognition ~~Revenue~~

~~Cost of~~The ~~product revenue consists of the manufacturing and materials costs incurred by the~~ Company’s ~~third-party~~entered ~~contract~~into ~~manufacturers in~~a ~~connection~~development ~~with OneRF Ablation system (the “OneRF Products”), strip~~ and ~~grid cortical electrodes (the “Strip/Grid~~distribution ~~Products”),~~agreement ~~depth~~which ~~electrodes~~has ~~(“sEEG~~current ~~Products)~~ and ~~outside~~future ~~supplier~~revenue ~~materials~~recognition ~~costs~~implications. inSee ~~connection with the electrode cable assembly products (~~“~~Electrode~~Note ~~Cable~~7 ~~Assembly~~– ~~Products”).~~Zimmer InDistribution ~~addition,~~Agreement ~~cost~~and ~~of product revenue includes royalty fees incurred~~Other inProduct ~~connection with the Company’s license agreements as well as valuation adjustments for excess or obsolete inventory~~Revenue.”

~~License~~In determining the appropriate amount of revenue ~~Revenue~~to be recognized as it fulfills its obligations under its agreements, the Company performs the following steps: (i) identification of the promised goods or services in the contract; (ii) determination of whether the promised goods or services are performance obligations, including whether they are distinct in the context of the contract; (iii) measurement of the transaction price, including the constraint on variable consideration; (iv) allocation of the transaction price to the performance obligations based on estimated selling prices; and (v) recognition of revenue when (or as) the Company satisfies each performance obligation.

~~As part~~A ofperformance ~~the~~obligation ~~accounting~~is ~~for~~a ~~collaboration~~promise ~~arrangements,~~in ~~the~~a ~~Company~~contract to ~~must~~transfer ~~develop~~a ~~assumptions~~distinct ~~that~~good ~~require~~or ~~judgment~~service to ~~determine~~ the ~~stand-alone selling~~customer ~~price~~and ofis ~~each~~the ~~performance~~unit ~~obligation~~of ~~identified~~account in ~~the~~Accounting ~~contract.~~Standards ~~The~~Codification ~~Company~~(“ASC”) Topic ~~uses~~606, ~~key~~Revenue ~~assumptions~~from toContracts ~~determine~~with ~~the~~Customers ~~stand-alone selling~~(“ASC ~~price,~~606”). ~~which~~Performance obligations may include ~~forecasted~~license ~~revenues~~rights, development ~~timelines~~ services, ~~reimbursement~~and ~~rates~~services ~~for~~associated ~~personnel~~with ~~costs,~~regulatory ~~discount~~submission ~~rates~~ and ~~probabilities~~approval processes. Significant management judgment is required to determine the level of ~~technical~~effort required under an arrangement and ~~regulatory~~the ~~success.~~period ~~The~~over which the Company ~~allocates~~expects to complete its performance obligations under the ~~total~~arrangement. ~~transaction~~If ~~price~~the toCompany ~~each~~cannot reasonably estimate when its performance ~~obligation~~obligations are either completed or become inconsequential, ~~based~~then onrevenue recognition is deferred until the ~~estimated~~Company ~~relative~~can ~~standalone~~reasonably ~~selling~~make ~~prices~~such ofestimates. ~~the~~Revenue ~~promised~~is ~~goods~~then orrecognized ~~service~~over ~~underlying~~the ~~each~~remaining estimated period of performance ~~obligation~~using the cumulative catch-up method.

Licenses of intellectual property: If the license to the Company’s intellectual property is determined to be distinct from the other performance obligations identified in the arrangement, the Company recognizes revenues from non-refundable, up-front fees allocated to the license when the license is transferred to the customer, and the customer can use and benefit from the license. For licenses that are bundled with other promises, the Company utilizes judgment to assess the nature of the combined performance obligation to determine whether the combined performance obligation is satisfied over time or at a point in time and, if over time, the appropriate method of measuring progress for purposes of recognizing revenue from non-refundable, up-front fees. The Company evaluates the measure of progress each reporting period and, if necessary, adjusts the measure of performance and related revenue recognition. 7

7NeuroOne Medical Technologies Corporation

~~NeuroOne Medical~~Notes ~~Technologies~~to ~~Corporation~~Condensed Financial Statements

~~Notes to Condensed Financial Statements~~(unaudited)

~~(unaudited)~~Product Revenue

~~Milestone payments:~~Revenues Atfrom ~~the~~product ~~inception~~sales ofare ~~each~~recognized ~~arrangement that includes milestone payments, the Company evaluates whether the milestones are~~when ~~considered~~control ~~probable~~ of ~~being achieved and estimates~~ the ~~amount~~promised togoods beor ~~included~~services inis ~~the~~transferred ~~transaction~~to ~~price using~~ the ~~most~~Company’s ~~likely amount method. If it is probable that a significant revenue reversal will not occur~~customers, ~~the value of the associated milestone (such as a regulatory submission) is included~~ in ~~the~~an ~~transaction~~amount ~~price. Milestone payments~~ that ~~are~~reflects ~~not within~~ the ~~control of~~ consideration the Company, ~~such~~expects asto ~~approvals~~be ~~from~~entitled ~~regulators, are~~to ~~not~~in ~~considered~~exchange ~~probable~~for ~~of being achieved until~~ those ~~approvals~~goods ~~are~~or ~~received~~services. ~~When~~At the ~~Company’s~~inception ~~assessment~~ of ~~probability of~~each ~~achievement~~customer ~~changes~~contract, ~~and~~performance obligations ~~variable~~are ~~consideration~~identified ~~becomes~~and ~~probable,~~the ~~any~~total ~~additional~~transaction ~~estimated~~price ~~consideration~~ is allocated to ~~each performance obligation based on~~ the ~~estimated relative standalone selling prices of the promised goods or service underlying each~~ performance ~~obligation and recorded in license revenues based upon when the customer obtains control of each element~~obligations.

~~Royalties: For~~Cost ~~arrangements that include sales-based royalties, including milestone payments based on the level~~ of ~~sales,~~Product and the license is deemed to be the predominant item to which the royalties relate, the Company recognizes revenue at the later of (a) when the related sales occur, or (b) when the performance obligation to which some or all of the royalty has been allocated has been satisfied (or partially satisfied).Revenue

~~Warrant~~Cost of product revenue consists of the manufacturing ~~Liability~~and materials costs incurred by the Company’s third-party contract manufacturers in connection with OneRF Brain Ablation System and the OneRF® Trigeminal Nerve Ablation System (the “OneRF Products”), strip and grid cortical electrodes (the “Strip/Grid Products”), depth electrodes (“sEEG Products”) and outside supplier materials costs in connection with the electrode cable assembly products (“Electrode Cable Assembly Products”) when sold. In addition, cost of product revenue includes royalty fees incurred in connection with the Company’s license agreements as well as valuation adjustments for excess or obsolete inventory.

~~The Company~~License issued warrants in connection with its 2024 Private Placement. See “Note 12– Stockholders’ Equity”. The Company accounts for these warrants as a liability at fair value when warrant pricing protection provisions are not available to other common stockholders. Additionally, issuance costs associated with the warrant liability are expensed as incurred and reflected as a financing cost in the accompanying condensed statements of operations. The Company adjusts the liability for changes in fair value until the earlier of the exercise or expiration of the warrants for any period when pricing protections remain in place. Any future change in the fair value of the warrant liability is recognized in the condensed statements of operations under the fair value change in the warrant liability line item.Revenue

~~Fair~~As part of the accounting for collaboration arrangements, ~~Value~~the Company must develop assumptions that require judgment to determine the stand-alone selling price of ~~Financial~~each ~~Instruments~~performance obligation identified in the contract. The Company uses key assumptions to determine the stand-alone selling price, which may include forecasted revenues, development timelines, reimbursement rates for personnel costs, discount rates and probabilities of technical and regulatory success. The Company allocates the total transaction price to each performance obligation based on the estimated relative stand-alone selling prices of the promised goods or service underlying each performance obligation.

~~The~~Licenses of intellectual property: If the license to the Company’s ~~accounting~~intellectual ~~for~~property ~~fair~~is ~~value~~determined ~~measurements~~to ofbe ~~assets~~distinct ~~and~~from ~~liabilities~~the ~~that~~other ~~are~~performance ~~recognized~~obligations oridentified ~~disclosed~~in the atarrangement, ~~fair~~the ~~value~~Company inrecognizes ~~the financial~~revenues ~~statements~~from onnon-refundable, aup-front ~~recurring~~fees orallocated ~~nonrecurring~~to ~~basis~~the ~~adheres~~license when the license is transferred to the ~~Financial~~customer, ~~Accounting~~and ~~Standards~~the ~~Board~~customer ~~(“FASB”)~~can ~~fair value~~use ~~hierarchy~~and ~~that~~benefit ~~prioritizes~~from the ~~inputs~~license. toFor ~~valuation~~licenses ~~techniques~~that ~~used~~are tobundled ~~measure~~with ~~fair~~other ~~value.~~promises, ~~The~~the ~~hierarchy~~Company utilizes ~~gives~~judgment to assess the ~~highest~~nature ~~priority~~ of the combined performance obligation to ~~unadjusted~~determine ~~quoted~~whether ~~prices~~the incombined ~~active~~performance ~~markets~~obligation is ~~for~~satisfied ~~identical~~over ~~assets~~time or ~~liabilities~~at ~~(Level~~a 1point ~~measurements)~~in time and, if over time, the ~~lowest~~appropriate ~~priority~~method toof ~~measurements involving~~measuring ~~significant~~progress ~~unobservable~~for ~~inputs~~purposes ~~(Level~~of 3recognizing revenue ~~measurements)~~from non-refundable, up-front fees. The ~~three~~Company ~~levels~~evaluates the measure of progress each reporting period and, if necessary, adjusts the ~~fair~~measure ~~value~~of ~~hierarchy~~performance ~~are~~and asrelated ~~follows:~~revenue recognition.

●Milestone ~~Level~~payments: 1At ~~Inputs:~~the ~~Unadjusted~~inception ~~quoted~~of each ~~prices~~arrangement inthat ~~active~~includes ~~markets~~milestone ~~for~~payments, ~~identical~~the ~~assets~~Company orevaluates ~~liabilities~~whether ~~accessible~~the milestones are considered probable of being achieved and estimates the amount to be included in the transaction price using the most likely amount method. If it is probable that a significant revenue reversal will not occur, the value of the associated milestone (such as a regulatory submission) is included in the transaction price. Milestone payments that are not within the control of the Company, atsuch as approvals from regulators, are not considered probable of being achieved until those approvals are received. When the ~~measurement~~Company’s ~~date~~assessment of probability of achievement changes and variable consideration becomes probable, any additional estimated consideration is allocated to each performance obligation based on the estimated relative stand-alone selling prices of the promised goods or service underlying each performance obligation and recorded in license revenues based upon when the customer obtains control of each element.

●Royalties: ~~Level~~For 2arrangements ~~Inputs:~~that ~~Other~~include ~~than~~sales-based ~~quoted~~royalties, including ~~prices~~milestone ~~included~~payments inbased ~~Level~~on 1the ~~inputs~~level ~~that~~of ~~are~~sales, ~~observable~~and ~~for~~the license is deemed to be the ~~asset~~predominant oritem ~~liability~~to which the royalties relate, ~~either~~the ~~directly~~Company orrecognizes ~~indirectly~~revenue at the later of (a) when the related sales occur, ~~for~~or ~~substantially~~(b) when the ~~full~~performance ~~term~~obligation to which some or all of the ~~asset~~royalty has been allocated has been satisfied (or ~~liability~~partially satisfied).

●Warrant Level 3 Inputs: Unobservable inputs for the asset or liability used to measure fair value to the extent that observable inputs are not available, thereby allowing for situations in which there is little, if any, market activity for the asset or liability at the measurement date.Liability

~~As of~~The ~~June~~Company ~~30,~~issued ~~2025~~warrants ~~and~~in ~~September~~connection ~~30,~~with its 2024, ~~the~~Private ~~fair~~Placement. ~~values~~See of“Note ~~cash,~~12– ~~cash~~Stockholders’ ~~equivalents,~~Equity”. The Company accounts ~~receivable,~~for ~~inventory,~~these ~~prepaids~~warrants ~~and~~as ~~deferred~~a ~~offering~~liability ~~costs,~~at ~~accounts~~fair ~~payable~~value ~~and~~when ~~accrued~~warrant ~~expenses~~pricing ~~and~~protection ~~other~~provisions ~~liabilities~~are ~~approximated~~not ~~their~~available ~~carrying~~to ~~values~~other ~~because~~common ofstockholders. ~~the~~Additionally, ~~short-term~~issuance ~~nature~~costs ofassociated ~~these~~with ~~assets~~the orwarrant ~~liabilities.~~liability ~~The~~are ~~fair~~expensed ~~value~~as ofincurred ~~the~~and ~~warrant~~reflected ~~liability~~as ~~was~~a ~~based~~financing oncost ~~Level~~in 3the ~~inputs~~accompanying ascondensed ~~well~~statements of asoperations. ~~the~~The Company~~’s underlying~~ ~~stock~~adjusts ~~price~~the ~~and~~liability ~~associated~~for ~~volatility,~~changes ~~expected~~in ~~term~~fair value until the earlier of the exercise or expiration of the warrants for ~~and~~any ~~market~~period ~~interest~~when ~~rates~~pricing protections remain in place. ~~There~~ ~~were~~Any nofuture ~~transfers between~~change in the fair value ~~hierarchy~~of ~~levels~~the ~~during~~warrant liability is recognized in the ~~three~~condensed ~~and~~statements ~~nine~~of ~~months~~operations ~~ended~~under ~~June~~the ~~30,~~fair ~~2025~~value ~~and~~change ~~2024~~in warrant liability line item.

NeuroOne Medical Technologies Corporation

Notes to Condensed Financial Statements

(unaudited)

~~The fair~~Fair ~~value~~Value of ~~financial~~Financial ~~instruments measured on a recurring basis is as follows:~~Instruments

	As of June 30, 2025
Description	Total		Level 1		Level 2		Level 3
Liabilities:
Warrant liability	$	1,040,894	$	—	$	—	$	1,040,894
Total liabilities at fair value	$	1,040,894	$	—	$	—	$	1,040,894

The Company’s accounting for fair value measurements of assets and liabilities that are recognized or disclosed at fair value in the financial statements on a recurring or nonrecurring basis adheres to the Financial Accounting Standards Board (“FASB”) fair value hierarchy that prioritizes the inputs to valuation techniques used to measure fair value. The hierarchy gives the highest priority to unadjusted quoted prices in active markets for identical assets or liabilities (Level 1 measurements) and the lowest priority to measurements involving significant unobservable inputs (Level 3 measurements). The three levels of the fair value hierarchy are as follows:

	As of September 30, 2024
Description	Total		Level 1		Level 2		Level 3
Liabilities:
Warrant liability	$	2,140,315	$	—	$	—	$	2,140,315
Total liabilities at fair value	$	2,140,315	$	—	$	—	$	2,140,315

●

Level 1 Inputs: Unadjusted quoted prices in active markets for identical assets or liabilities accessible to the Company at the measurement date.

~~The following~~● ~~table~~Level ~~provides~~2 aInputs: ~~roll-forward~~Other ofthan ~~the~~quoted ~~warrant~~prices ~~liability~~included ~~measured~~in atLevel ~~fair~~1 ~~value~~inputs onthat aare ~~recurring~~observable ~~basis~~for ~~using~~the ~~unobservable~~asset ~~level 3 inputs~~or liability, either directly or indirectly, for substantially the ~~nine~~full ~~months~~term ~~ended~~of ~~June~~the ~~30,~~asset ~~2025~~or liability.

	2025
Warrant liability
Balance as of beginning of period	$	2,140,315
Change in fair value of warrant liability		(1,099,421	)
Balance as of end of period	$	1,040,894

●

Level 3 Inputs: Unobservable inputs for the asset or liability used to measure fair value to the extent that observable inputs are not available, thereby allowing for situations in which there is little, if any, market activity for the asset or liability at the measurement date.

~~There~~As of March 31, 2026 and September 30, 2025, the ~~were~~fair novalues ~~financial~~of ~~instruments~~cash, ~~measured~~cash onequivalents, aaccounts ~~non~~receivable, inventory, prepaid expenses, deferred offering costs, accounts payable and accrued expenses and other liabilities approximated their carrying values because of the short-~~recurring~~term ~~basis~~nature of these assets or liabilities. The fair value of the warrant liability was based on Level 3 inputs as well as the Company’s underlying stock price and associated volatility, expected term of the warrants and market interest rates. There were no transfers between fair value hierarchy levels during the ~~periods~~three ~~presented~~and six months ended March 31, 2026 and 2025.

~~Intellectual~~The fair value of financial instruments measured ~~Property~~on a recurring basis is as follows:

The Company has entered into two licensing agreements with major research institutions, which allow for access to certain patented technology and know-how. Payments under those agreements are capitalized and amortized to selling, general and administrative expense over the expected useful life of the acquired technology.

	As of March 31, 2026
Description	Total		Level 1		Level 2		Level 3
Liabilities:
Warrant liability	$	709,507	$	—	$	—	$	709,507
Total liabilities at fair value	$	709,507	$	—	$	—	$	709,507

Property and Equipment

	As of September 30, 2025
Description	Total		Level 1		Level 2		Level 3
Liabilities:
Warrant liability	$	1,266,894	$	—	$	—	$	1,266,894
Total liabilities at fair value	$	1,266,894	$	—	$	—	$	1,266,894

Property and equipment is recorded at cost and reduced by accumulated depreciation. Depreciation expense is recognized over the estimated useful lives of the assets using the straight-line method. The estimated useful life for equipment and furniture ranges from three to seven years. Tangible assets acquired for research and development activities and that have alternative use are capitalized over the useful life of the acquired asset. Estimated useful lives are periodically reviewed, and, when appropriate, changes are made prospectively. When certain events or changes in operating conditions occur, asset lives may be adjusted and an impairment assessment may be performed on the recoverability of the carrying amounts. Maintenance and repairs are charged directly to expense as incurred.9

~~Impairment of~~NeuroOne ~~Long-Lived~~Medical ~~Assets~~Technologies Corporation

~~The Company~~Notes evaluates its long-lived assets, which consist of licensed intellectual property, property and equipment and right-of-use assets for impairment whenever events or changes in circumstances indicate that the carrying value of these assets may not be recoverable. The Company assesses the recoverability of long-lived assets by determining whether the carrying value of such assets will be recovered through undiscounted expected future cash flows. If the asset is considered to beCondensed ~~impaired,~~Financial ~~the amount of impairment is measured as the difference between the carrying value and the fair value of the impaired asset.~~Statements

9(unaudited)

~~NeuroOne~~The following table provides a roll-forward of ~~Medical~~the ~~Technologies~~warrant ~~Corporation~~liability measured at fair value on a recurring basis using unobservable level 3 inputs for the six months ended March 31, 2026 and 2025, respectively.

Notes to Condensed Financial Statements

	2026			2025
Warrant liability
Balance as of beginning of Period	$	1,266,894		$	2,140,315
Change in fair value of warrant liability		(214,469	)		(779,796	)
Exercise		(342,918	)		—
Balance as of end of period	$	709,507		$	1,360,519

~~(unaudited)~~Intellectual Property

~~Accounts~~The Company has entered into two licensing ~~Receivable~~agreements ~~and~~with ~~Allowances~~major research institutions, which allow for ~~Credit~~access ~~Losses~~to certain patented technology and know-how. Payments under those agreements are capitalized and amortized to selling, general and administrative expense over the expected useful life of the acquired technology.

~~The Company~~Property ~~records a provision for credit losses, when appropriate, based on historical experience, current conditions~~ and reasonable supportable forecasts. In estimating the allowance for credit losses, the Company considers, among other factors, the estimate of credit losses over the remaining expected life of the asset, primarily using historical experience and current economic conditions that could affect the collectability of the balances in the future. Account balances are charged off against the allowance when the Company believes that it is probable that the receivable will not be recovered. Actual write-offs may be in excess of the Company’s estimated allowance. The Company has not incurred any bad debt expense to date and no allowance for credit losses has been recorded during the periods presented.Equipment

~~Inventory~~Property and equipment is recorded at cost and reduced by accumulated depreciation. Depreciation expense is recognized over the estimated useful lives of the assets using the straight-line method. The estimated useful life for equipment and furniture ranges from three to five years. Tangible assets acquired for research and development activities and that have alternative use are capitalized over the useful life of the acquired asset. Estimated useful lives are periodically reviewed, and, when appropriate, changes are made prospectively. When certain events or changes in operating conditions occur, asset lives may be adjusted and an impairment assessment may be performed on the recoverability of the carrying amounts. Maintenance and repairs are charged directly to expense as incurred.

~~Inventory is~~Impairment ~~stated at the lower~~ of ~~cost (using the first~~Long-~~in,~~Lived first-out “FIFO” method) or net realizable value. The Company calculates inventory valuation adjustments for excess and obsolete inventory, when appropriate, based on current inventory levels, movement, expected useful lives, and estimated future demand of the products and spare parts. The Company’s inventory is currently comprised of Strip/Grid Products, sEEG Products, OneRF Products and Electrode Cable Assembly Products component, work-in-process and finished good product. The Strip/Grid Products, sEEG Products and OneRF Products are produced by a third-party contract manufacturer and the Electrode Cable Assembly Products are obtained from outside suppliers.Assets

~~Research~~The Company evaluates its long-lived assets, which consist of licensed intellectual property, property and ~~Development~~equipment ~~Costs~~and right-of-use assets for impairment whenever events or changes in circumstances indicate that the carrying value of these assets may not be recoverable. The Company assesses the recoverability of long-lived assets by determining whether the carrying value of such assets will be recovered through undiscounted expected future cash flows. If the asset is considered to be impaired, the amount of impairment is measured as the difference between the carrying value and the fair value of the impaired asset.

~~Research and~~Accounts ~~development~~Receivable ~~costs are charged to expense as incurred. Research~~ and ~~development~~Allowances ~~expenses comprise of costs incurred in performing research and development activities, including compensation and benefits~~ for ~~research and development employees (including stock-based~~Credit compensation), overhead expenses, cost of laboratory supplies, clinical trial and related clinical manufacturing expenses, costs related to regulatory operations, fees paid to consultants and other outside expenses. Non-refundable advance payments for goods and services that will be used in future research and development activities are expensed when the activity is performed or when the goods have been received, rather than when payment is made, in accordance with ASC 730, Research and Development.Losses

~~Advertising~~The Company records a provision for credit losses, ~~Expense~~when appropriate, based on historical experience, current conditions and reasonable supportable forecasts. In estimating the allowance for credit losses, the Company considers, among other factors, the estimate of credit losses over the remaining expected life of the asset, primarily using historical experience and current economic conditions that could affect the collectability of the balances in the future. Account balances are charged off against the allowance when the Company believes that it is probable that the receivable will not be recovered. Actual write-offs may be in excess of the Company’s estimated allowance. The Company has not incurred any bad debt expense to date and no allowance for credit losses has been recorded during the periods presented.

Advertising expense is charged to selling, general and administrative expenses during the period that it is incurred. Total advertising expense amounted to $45,120 and $128,663 for the three and nine months ended June 30, 2025, respectively. Total advertising expense amounted to $45,000 and $110,053 for the three and nine months ended June 30, 2024, respectively.Inventory

~~Selling~~Inventory is stated at the lower of cost (using the first-in, first-out “FIFO” method) or net realizable value. The Company calculates inventory valuation adjustments for ~~General~~excess and ~~Administrative~~obsolete inventory, when appropriate, based on current inventory levels, movement, expected useful lives, and estimated future demand of the products and spare parts. The Company’s inventory is currently comprised of its commercialized product components, work-in-process and finished goods. The commercialized products are produced by a third-party contract manufacturer and electrode cable assembly components are obtained from outside suppliers.

Selling, general and administrative expenses consist primarily of personnel-related costs including stock-based compensation for personnel in functions not directly associated with research and development activities. Other significant costs include legal and litigation costs relating to corporate matters, intellectual property costs, professional fees for consultants assisting with financial and administrative matters, and sales and marketing in connection with the commercial sales of the Company’s products.10

~~Stock-Based Compensation~~NeuroOne Medical Technologies Corporation

~~The Company~~Notes ~~accounts for stock-based compensation in accordance with the provisions of ASC 718, Compensation — Stock Compensation (“ASC 718”). Accordingly, compensation costs related~~ to ~~equity~~Condensed ~~instruments~~Financial granted are recognized at the grant-date fair value over the requisite service period. The Company records forfeitures when they occur. Stock-based compensation arrangements to non-employees are accounted for in accordance with the applicable provisions of ASC 718. Statements

10(unaudited)

~~NeuroOne Medical~~Research ~~Technologies~~and ~~Corporation~~Development Costs

~~Notes~~Research and development costs are charged to expense as incurred. Research and development expenses comprise of costs incurred in performing research and development activities, including compensation and benefits for research and development employees (including stock-based compensation), overhead expenses, cost of laboratory supplies, clinical trial and related clinical manufacturing expenses, costs related to ~~Condensed~~regulatory ~~Financial~~operations, ~~Statements~~fees paid to consultants and other outside expenses. Non-refundable advance payments for goods and services that will be used in future research and development activities are expensed when the activity is performed or when the goods have been received, rather than when payment is made, in accordance with ASC 730, Research and Development.

~~(unaudited)~~Advertising Expense

~~Income~~Advertising expense is charged to selling, general ~~Taxes~~and administrative expenses during the period that it is incurred. Total advertising expense amounted to $58,848 and $119,399 for the three and six months ended March 31, 2026, respectively. Total advertising expense amounted to $45,000 and $83,543 for the three and six months ended March 31, 2025, respectively.

~~Income taxes~~Selling, ~~are~~General ~~accounted for under the asset~~ and liability method. Deferred tax assets and liabilities are recognized for the future tax consequences attributable to differences between the financial statement carrying amounts of existing assets and liabilities and their respective tax base and operating loss and tax credit carryforwards. Deferred tax assets and liabilities are measured using enacted tax rates expected to apply to taxable income in the years in which those temporary differences are expected to be recovered or settled. Deferred tax assets are reduced by a valuation allowance if it is more likely than not that some portion or all of the deferred tax asset will not be realized.Administrative

~~Net~~Selling, general and administrative expenses consist ~~Loss~~primarily ~~Per~~of ~~Share~~personnel-related costs including stock-based compensation for personnel in functions not directly associated with research and development activities. Other significant costs include legal and litigation costs relating to corporate matters, intellectual property costs, professional fees for consultants assisting with financial and administrative matters, and sales and marketing in connection with the commercial sales of the Company’s products.

~~For the~~Stock-Based ~~Company, basic loss per share of common stock is computed by dividing net loss by the weighted average number of shares of common stock outstanding during the period.~~Compensation

~~Diluted earnings~~The orCompany ~~loss~~accounts ~~per~~for ~~share of common~~ stock-based ~~is computed similarly to basic earnings or loss per share except the weighted average shares~~compensation ~~outstanding~~in ~~are~~accordance ~~increased~~with ~~to include additional shares from~~ the ~~assumed~~provisions ~~exercise~~ of ~~any~~ASC ~~common stock equivalents~~718, ifCompensation ~~dilutive.~~— ~~The~~Stock ~~Company’s warrants,~~Compensation ~~stock~~(“ASC ~~options~~718”). Accordingly, ~~and~~compensation costs ~~restricted~~related ~~stock~~to ~~units~~equity ~~while~~instruments ~~outstanding~~granted are ~~considered~~recognized ~~common~~at ~~stock~~the ~~equivalents~~grant-date ~~for~~fair ~~this~~value ~~purpose.~~over ~~Diluted earnings or loss per share of common stock is computed utilizing~~ the ~~treasury~~requisite ~~method~~service ~~for~~period. ~~the~~The ~~warrants,~~Company records ~~stock~~forfeitures ~~options~~when ~~and~~they ~~restricted stock units~~occur. NoStock-based ~~incremental~~compensation ~~common~~arrangements ~~stock~~to ~~equivalents were included in calculating diluted loss per share because such inclusion would be anti~~non-~~dilutive given~~employees ~~the~~are ~~net~~accounted ~~loss reported~~ for ~~the~~in ~~three~~accordance ~~and~~with ~~nine~~the ~~months~~applicable provisions ~~ended~~of ~~June~~ASC ~~30, 2025 and 2024~~718.

~~The following~~Income ~~potential common shares were not considered in the computation of basic net loss per share as their effect would have been anti-dilutive for the three and nine months ended June 30, 2025 and 2024:~~Taxes

	2025		2024
Warrants		7,045,875		4,863,566
Stock options		6,131,448		2,814,096
Restricted stock units		848,468		1,167,572

Income taxes are accounted for under the asset and liability method. Deferred tax assets and liabilities are recognized for the future tax consequences attributable to differences between the financial statement carrying amounts of existing assets and liabilities and their respective tax base and operating loss and tax credit carryforwards. Deferred tax assets and liabilities are measured using enacted tax rates expected to apply to taxable income in the years in which those temporary differences are expected to be recovered or settled. Deferred tax assets are reduced by a valuation allowance if it is more likely than not that some portion or all of the deferred tax asset will not be realized.

~~Recent Accounting~~Net ~~Pronouncements~~loss per share

~~In November~~For ~~2023,~~ the ~~FASB issued Accounting Standards Update (“ASU”) 2023-07 - Segment Reporting (Topic 280): Improvements to Reportable Segment Disclosures~~Company, ~~which~~basic ~~enhances~~loss ~~reportable~~per ~~segment~~share ~~disclosure requirements, primarily through disclosures~~ of ~~significant~~common ~~segment~~stock ~~expenses. This ASU~~ is ~~effective~~computed ~~for~~by ~~fiscal~~dividing ~~years~~net ~~beginning~~loss ~~after~~by ~~December~~the ~~15,~~weighted ~~2023,~~average ~~including~~number ~~interim~~of ~~periods~~shares within fiscal years beginning after December 15, 2024, with early adoption permitted. The guidance must be applied retrospectively to all prior periods presented. The Company adopted this guidance on October 1, 2024. The adoption of ~~this~~common ~~ASU~~stock ~~did~~outstanding ~~not~~during ~~have a material impact on~~ the ~~Company’s financial statements~~period.

~~In December~~Diluted ~~2023,~~earnings ~~the~~or ~~FASB~~loss ~~issued~~per ~~ASU~~share ~~2023-09~~of ~~Income~~common ~~Taxes~~stock is ~~(Topic~~computed ~~740):~~similarly ~~Improvements~~ to ~~Income~~basic ~~Tax~~earnings ~~Disclosures,~~or ~~which~~loss ~~enhances~~per ~~income tax~~share ~~disclosures~~except ~~primarily related to~~ the ~~rate~~weighted ~~reconciliation~~average ~~and~~shares ~~income~~outstanding ~~taxes~~are ~~paid~~increased ~~information.~~to ~~This~~include ~~guidance also includes certain other~~additional ~~amendments~~shares tofrom ~~improve~~ the ~~effectiveness~~assumed exercise of ~~income~~any ~~tax~~common ~~disclosures.~~stock ~~This~~equivalents, ~~ASU~~if isdilutive. ~~effective~~The ~~for~~Company’s ~~fiscal~~warrants, ~~years~~stock ~~beginning~~options, ~~after~~and ~~December 15,~~restricted ~~2024,~~stock ~~including~~units ~~interim~~while ~~periods~~outstanding ~~within~~are ~~those~~considered ~~fiscal~~common ~~years~~stock ~~and~~equivalents ~~should~~for bethis ~~applied~~purpose. onDiluted aearnings ~~prospective~~or ~~basis,~~loss ~~with~~per ~~retrospective~~share ~~application permitted.~~of ~~The~~common ~~Company~~ stock is ~~currently~~computed ~~evaluating~~utilizing the ~~impact~~treasury ofmethod for the ~~adoption~~warrants, ofstock ~~this~~options ~~guidance~~and onrestricted ~~its~~stock ~~financial statements~~units.

~~NOTE 4 – Commitments and Contingencies~~11

~~WARF License~~NeuroOne ~~Agreement~~Medical Technologies Corporation

~~The Company~~Notes ~~has~~to ~~entered~~Condensed ~~into~~Financial an exclusive start-up company license agreement with the Wisconsin Alumni Research Foundation (“WARF”) for WARF’s neural probe array and thin film micro electrode technology. The Company entered into an Amended and Restated Exclusive Start-up Company License Agreement (the “WARF License”) with WARF on January 21, 2020, which amended and restated in full the prior license agreement between WARF and NeuroOne, LLC, a predecessor of the Company, dated October 1, 2014, as amended on February 22, 2017, March 30, 2019 and September 18, 2019.Statements

11(unaudited)

~~NeuroOne~~The table below presents the computation of basic ~~Medical~~and ~~Technologies~~diluted ~~Corporation~~loss per share:

Notes to Condensed Financial Statements

	Three Months Ended						Six Months Ended
	March 31,						March 31,
	2026			2025			2026			2025
Basic:
Net loss available to common stockholders - basic	$	(2,085,669	)	$	(2,270,607	)	$	(3,523,559	)	$	(485,285	)
Weighted average common shares outstanding - basic		8,484,926			5,185,075			8,436,158			5,161,971
Loss per share - basic	$	(0.25	)	$	(0.44	)	$	(0.42	)	$	(0.09	)

Diluted (1):
Net loss available to common stockholders – diluted	$	(2,085,669	)	$	(2,270,607	)	$	(3,735,165	)	$	(485,285	)
Weighted average common shares outstanding - diluted		8,484,926			5,185,075			8,554,213			5,161,971
Loss per share - diluted	$	(0.25	)	$	(0.44	)	$	(0.44	)	$	(0.09	)

(~~unaudited~~1) For the three and six months ended March 31, 2025, no adjustment was made to the numerator and no incremental shares were added to the denominator for the PIPE Warrants being accounted for as a derivative liability as the PIPE Warrants were out-of-the-money during these periods. See “Note 12 – Stockholders’ Equity”.

The ~~WARF~~ ~~License~~following ~~grants~~table topresents the ~~Company~~computation an exclusive license to make, use and sell, in the United States only, products that employ certain licensed patents for a neural probe array or thin-film micro electrode array and method. The Company agreed to pay WARF a royalty equal to a single-digit percentage of ~~our product sales pursuant to the WARF License, with a minimum annual royalty payment of $50,000 for~~ ~~2020,~~weighted ~~$100,000 for~~average ~~2021~~common ~~and~~shares ~~$150,000 for~~considered ~~2022 and each calendar year thereafter that the WARF License is~~ in ~~effect. If~~ the ~~Company~~ orcomputation ~~any~~ of ~~its~~diluted ~~sublicensees~~net ~~contest~~loss ~~the~~per ~~validity~~share ~~of any licensed patent, the royalty rate will be doubled~~ during the ~~pendency of~~three ~~such contest~~ and, ifsix ~~the~~months ~~contested~~ended ~~patent is found to be valid and would be infringed by the Company if not for the WARF License,~~March ~~the royalty rate will be tripled for the remaining term of the WARF License.~~31,

WARF may terminate the WARF License on 30 days’ written notice if we default on the payments of amounts due to WARF or fail to timely submit development reports, actively pursue our development plan or breach any other covenant in the WARF License and fail to remedy such default in 90 days or in the event of certain bankruptcy events involving us. WARF may also terminate the WARF License (i) on 90 days’ notice if we had failed to have commercial sales of one or more FDA-approved products under the WARF License by June 30, 2021 or (ii) if, after royalties earned on sales begin to be paid, such earned royalties cease for more than four calendar quarters. The first commercial sale occurred on December 7, 2020, prior to the June 30, 2021 deadline. The WARF License otherwise expires by its terms on the date that no valid claims on the patents licensed thereunder remain. The Company expects the latest expiration of a licensed patent to occur in 2030.

	Three Months Ended				Six Months Ended
	March 31,				March 31,
	2026		2025		2026		2025
Denominator (weighted average shares)
Basic common shares outstanding		8,484,926		5,185,075		8,436,158		5,161,971
Dilutive stock options		—		—		—		—
Dilutive restricted stock units		—		—		—		—
Dilutive warrants		—		—		118,055		—
Diluted common shares outstanding		8,484,926		5,185,075		8,554,213		5,161,971

~~During the~~The ~~three~~following ~~months~~potential ~~ended~~common ~~June~~shares ~~30,~~were ~~2025~~not considered ~~and 2024, $37,500~~ in ~~royalty fees were incurred related to~~ the ~~WARF~~computation ~~License during each~~ of ~~these periods.~~basic ~~During~~net ~~the~~loss ~~nine~~per ~~months~~share ~~ended~~as ~~June~~their ~~30,~~effect ~~2025~~would ~~and~~have ~~2024,~~been ~~$112,500~~anti-dilutive infor ~~royalty~~the ~~fees~~three ~~were~~and ~~incurred~~six ~~during~~months ~~each of these periods related~~ended toMarch ~~the~~31, ~~WARF~~2026 ~~License.~~and ~~The royalty fees were reflected as a component of cost of product revenue.~~2025:

Mayo Agreement

	Three Months Ended				Six Months Ended
	March 31,				March 31,
	2026		2025		2026		2025
Warrants		361,111		1,174,322		243,056		1,174,322
Stock options		1,098,038		477,561		1,098,038		477,561
Restricted stock units		84,750		147,780		84,750		147,780

~~The Company~~Recent ~~has~~Accounting an exclusive license and development agreement with the Mayo Foundation for Medical Education and Research (“Mayo”) related to certain intellectual property and development services for thin film micro electrode technology (“Mayo Agreement”). If the Company is successful in obtaining regulatory approval, the Company is to pay royalties to Mayo based on a percentage of net sales of products of the licensed technology through the term of the Mayo Agreement, set to expire May 25, 2037. During the three months ended June 30, 2025 and 2024, no royalty fees were incurred related to the Mayo Agreement, respectively. During the nine months ended June 30, 2025 and 2024, zero and $4,415 in royalty fees were incurred related to the Mayo Agreement, respectively. The royalty fees were reflected as a component of cost of product revenue.Pronouncements

~~Facility~~In December 2023, the FASB issued Accounting ~~Leases~~Standards Update (ASU) 2023-09 Income Taxes (Topic 740): Improvements to Income Tax Disclosures, which enhances income tax disclosures primarily related to the rate reconciliation and income taxes paid information. This guidance also includes certain other amendments to improve the effectiveness of income tax disclosures. This ASU is effective for fiscal years beginning after December 15, 2024, including interim periods within those fiscal years and should be applied on a prospective basis, with retrospective application permitted. The Company adopted this guidance on October 1, 2025 and the newly adopted guidance will result in additional income tax disclosures in its financial statements.

~~Headquarters Lease~~12

~~On May~~NeuroOne ~~20,~~Medical ~~2024,~~Technologies the Company amended its non-cancellable headquarters lease (the “Lease”) with certain landlords (together, the “Landlord”) pursuant to which the Company leases office space located at 7599 Anagram Drive, Eden Prairie, Minnesota (the “Premises”). The Company took possession of the Premises on November 1, 2019, with the term of the Lease ending June 30, 2028, as amended, unless terminated earlier (the “Lease Term”). The base rent for the Premises ranges from $6,410 per month to $7,107 per month by the end of the Lease Term as amended. In addition, as long as the Company is not in default under the Lease, the Company will be entitled to an abatement of its base rent for the first two months of the amended Lease Term beginning in April 2025 and for the last month of the amended Lease Term (June 2028). In addition, the Company pays its pro rata share of the Landlord’s annual operating expenses associated with the Premises.Corporation

12Notes to Condensed Financial Statements

~~NeuroOne Medical Technologies Corporation~~(unaudited)

~~Notes~~In November 2024, the FASB issued ASU 2024-03 Income Statement - Reporting Comprehensive Income - Expense Disaggregation Disclosures (Subtopic 220-40): Disaggregation of Income Statement Expenses. This ASU is intended to ~~Condensed~~improve ~~Financial~~the ~~Statements~~disclosures related to expenses and provide investors more detailed information about certain types of expenses. This ASU is effective for annual periods beginning after December 15, 2026, and interim reporting periods beginning after December 15, 2027, with early adoption permitted. The Company is currently evaluating the potential impact that this new standard will have on its financial statements and related disclosures.

~~(unaudited)~~NOTE 4 – Commitments and Contingencies

~~Los~~WARF ~~Gatos~~License ~~Lease~~Agreement

~~On July~~The ~~1, 2021, the~~ Company has entered into aan ~~non~~exclusive start-~~cancellable~~up company ~~facility~~license ~~lease~~agreement ~~(the~~with ~~“Los Gatos Lease”), pursuant to which~~ the ~~Company agreed~~Wisconsin toAlumni ~~rent~~Research ~~office~~Foundation ~~space~~(“WARF”) for ~~its~~WARF’s ~~research~~neural ~~and~~probe ~~development~~array ~~operations~~and ~~located at 718 University Avenue, Suite #111, Los Gatos, California.~~thin ~~The~~film ~~facility~~micro ~~space~~electrode ~~under the Los Gatos Lease is approximately 1,162 square feet~~technology. The Company ~~took~~entered ~~possession~~into ofan ~~the~~Amended ~~office~~and ~~space~~Restated onExclusive ~~July 2,~~Start-up ~~2021.~~Company ~~The~~License ~~initial~~Agreement ~~monthly rent under~~ (the ~~Los~~“WARF License”) ~~Gatos~~with ~~Lease~~WARF ~~was~~on ~~$4,241.~~January ~~On November 4~~21, ~~2022~~2020, ~~the~~which ~~Los~~amended ~~Gatos~~and ~~Lease~~restated ~~was~~in ~~extended~~full ~~for an additional two years to December 31, 2024. The rent under~~ the ~~extended~~prior ~~Los~~license ~~Gatos~~agreement ~~Lease~~between ~~ranged~~WARF ~~from~~and $4NeuroOne,~~453 to $4~~ LLC,~~632~~ ~~per~~a ~~month~~predecessor ~~beginning on~~of ~~January~~the 1Company, ~~2023.~~dated OnOctober ~~December 17~~1, ~~2024~~2014, ~~the~~as ~~Los~~amended ~~Gatos~~on ~~Lease~~February ~~was extended again for an additional two years to December 31~~22, ~~2026. The rent under the newly extended Los Gatos Lease ranges from $4~~2017,~~939~~ toMarch $530,~~087~~ ~~per~~2019 ~~month~~and ~~beginning~~September ~~on January 1~~18, ~~2025~~2019.

~~During~~ The WARF License grants to the ~~three~~Company ~~and~~an ~~nine~~exclusive license ~~months~~to make, ~~ended~~use ~~June~~and 30sell, ~~2025~~in the United States only, ~~rent~~products ~~expense~~that ~~associated~~employ ~~with~~certain ~~the~~licensed ~~facility~~patents ~~leases~~for ~~amounted~~a neural probe array or thin-film micro electrode array and method. The Company agreed to ~~$70~~pay WARF a royalty equal to a single-digit percentage of our product sales pursuant to the WARF License,~~121~~ ~~and~~with a minimum annual royalty payment of $~~209~~150,~~364,~~000 ~~respectively~~while the WARF License is in effect. ~~During~~ If the ~~three~~Company or ~~and~~any ~~nine~~of ~~months~~its ~~ended~~sublicensees ~~June~~contest ~~30,~~the ~~2024~~validity of any licensed patent, ~~rent~~the ~~expense~~royalty ~~associated~~rate ~~with~~will be doubled during the ~~facility~~pendency ~~leases~~of ~~amounted~~such contest and, if the contested patent is found to ~~$43,455~~be valid and ~~$129~~would be infringed by the Company if not for the WARF License,~~560,~~ the royalty rate ~~respectively~~will be tripled for the remaining term of the WARF License.

~~Supplemental~~WARF may terminate the WARF License on 30 days’ ~~cash~~written ~~flow~~notice ~~information~~if we default on the payments of amounts due to WARF or fail to timely submit development reports, actively pursue our development plan or breach any other covenant in the WARF License and fail to remedy such default in 90 days or in the event of certain bankruptcy events involving us. WARF may also terminate the WARF License if, after royalties earned on sales begin to be paid, such earned royalties cease for more than four calendar quarters. The WARF License otherwise expires by its terms on the date that no valid claims on the patents licensed thereunder remain. The Company expects the latest expiration of a licensed patent to occur in 2030. During the three months ended March 31, 2026 and 2025, $37,500 in royalty fees were incurred related to the ~~operating~~WARF ~~leases~~License ~~was~~during each of these periods. During the six months ended March 31, 2026 and 2025, $75,000 in royalty fees were incurred during each of these periods related to the WARF License. The royalty fees were reflected as ~~follows:~~ a component of cost of product revenue.

	For the Nine Months Ended June 30,
	2025		2024
Cash paid for amounts included in the measurement of lease liability:
Operating cash flows from operating leases	$	92,390	$	103,795
Right-of-use assets obtained in exchange for lease obligations:
Operating leases	$	111,898	$	199,385

Mayo Agreement

~~Supplemental~~The Company ~~balance~~has ~~sheet~~an ~~information~~exclusive license and development agreement with the Mayo Foundation for Medical Education and Research (“Mayo”) related to certain intellectual property and development services for thin film micro electrode technology (“Mayo Agreement”). If the Company is successful in obtaining regulatory approval, the Company is to pay royalties to Mayo based on a percentage of net sales of products of the ~~operating~~licensed ~~leases~~technology ~~was~~through asthe ~~follows:~~term of the Mayo Agreement, set to expire May 25, 2037. During the three and six months ended March 31, 2026 and 2025, no royalty fees were incurred related to the Mayo Agreement.

	As of June 30, 2025			As of September 30, 2024
Right-of-use assets	$	283,621		$	254,910
Lease liabilities	$	295,717		$	260,160
Weighted average remaining lease term (years)		2.6			3.6
Weighted average discount rate		7.2	%		7.4	%

~~Maturity of~~NeuroOne ~~the~~Medical ~~lease~~Technologies ~~liabilities was as follows:~~ Corporation

Calendar Year	As of June 30, 2025
2025	$	68,091
2026		139,985
2027		81,708
2028		34,815
Total lease payments		324,599
Less imputed interest		(28,882	)
Total		295,717
Short-term portion (included in other liabilities)		(120,373	)
Long-term portion	$	175,344

Notes to Condensed Financial Statements

13(unaudited)

~~NeuroOne Medical~~Facility ~~Technologies Corporation~~Leases

~~Notes to~~Headquarters ~~Condensed Financial Statements~~Lease

On May 20, 2024, the Company amended its non-cancellable headquarters lease (~~unaudited~~the “Lease”) with certain landlords (together, the “Landlord”) pursuant to which the Company leases office space located at 7599 Anagram Drive, Eden Prairie, Minnesota (the “Premises”). The Company took possession of the Premises on November 1, 2019, with the term of the Lease ending June 30, 2028, as amended, unless terminated earlier (the “Lease Term”). The base rent for the Premises ranges from $6,410 per month to $7,107 per month by the end of the Lease Term. In addition, as long as the Company is not in default under the Lease, the Company will be entitled to an abatement of its base rent for the first two months of the amended Lease Term beginning in April 2025 and for the last month of the amended Lease Term (June 2028). In addition, the Company pays its pro rata share of the Landlord’s annual operating expenses associated with the Premises.

~~Other Contingencies~~Los Gatos Lease

In 2021, the ~~ordinary~~Company ~~course~~entered ofinto ~~business,~~and ~~from~~commenced a ~~time~~non-cancellable tofacility ~~time,~~lease (the ~~Company~~“Los ~~may~~Gatos beLease”), ~~subject~~pursuant to awhich ~~broad~~the ~~range~~Company ofagreed ~~claims~~to ~~and~~rent ~~legal~~office ~~proceedings~~space ~~that~~for its ~~relate~~research toand ~~contractual~~development ~~allegations~~operations located at 718 University Avenue, ~~patent~~Suite ~~infringement~~#111, ~~and~~Los ~~other~~Gatos, ~~claims~~California. The ~~Company~~facility ~~establishes~~space ~~accruals~~under ~~when~~the Los ~~applicable~~Gatos ~~for~~Lease ~~matters and~~is ~~commitments~~approximately ~~which~~1,162 itsquare ~~believes~~feet. ~~losses~~In ~~are~~2022, ~~probable~~the ~~and~~Los ~~can~~Gatos beLease ~~reasonably~~was ~~estimated.~~extended Tofor ~~date,~~an noadditional ~~loss~~two ~~contingency~~years ~~for~~to ~~such matters~~December ~~and~~31, ~~potential~~2024. ~~commitments~~The ~~have~~rent ~~been~~under ~~recorded.~~the ~~Although~~extended itLos isGatos ~~not~~Lease ~~possible~~ranged from $4,453 to ~~predict~~$4,632 ~~with~~per ~~certainty~~month ~~the~~beginning ~~outcome~~on ofJanuary ~~these~~1, ~~matters~~2023. orOn ~~potential~~December ~~commitments~~17, 2024, the ~~Company~~Los isGatos ofLease ~~the~~was ~~opinion~~extended ~~that~~again ~~the~~for ~~ultimate~~an ~~resolution~~additional oftwo ~~these~~years ~~matters~~to ~~and~~December ~~potential~~31, ~~commitments~~2026. ~~will~~The ~~not~~rent ~~have~~under athe ~~material~~newly extended Los ~~adverse~~Gatos ~~effect~~Lease onranges ~~its~~from ~~results~~$4,939 ofto ~~operations~~$5,087 orper ~~financial~~month ~~position~~beginning on January 1, 2025.

~~NOTE~~During the three and six months ended March 31, 52026, –rent ~~Supplemental~~expense ~~Balance~~associated ~~Sheet~~with ~~Information~~the facility leases amounted to $69,785 and $140,186, respectively. During the three and six months ended March 31, 2025, rent expense associated with the facility leases amounted to $70,065 and $139,243, respectively.

~~Inventory~~Supplemental cash flow information related to the operating leases was as follows:

Inventory consisted of the following:

	For the six months ended March 31,
	2026		2025
Cash paid for amounts included in the measurement of lease liability:
Operating cash flows from operating leases	$	68,535	$	71,164

Right-of-use assets obtained in exchange for lease obligations:
Modification of right-of-use asset and associated lease liability	$	—	$	111,898

	As of June 30, 2025		As of September 30, 2024
Component inventory	$	793,383	$	877,065
Work-in-process		328,368		192,360
Finished goods		775,950		1,565,728
Total	$	1,897,701	$	2,635,153

Supplemental balance sheet information related to the operating leases was as follows:

Excess and obsolete valuation reserve adjustments reflected as a reduction of work-in-process inventory at June 30, 2025 and September 30, 2024 were $7,500 and zero, respectively.

	As of March 31, 2026			As of September 30, 2025

Right-of-use assets	$	196,775		$	255,195

Lease liabilities	$	206,973		$	266,806

Weighted average remaining lease term (years)		1.9			2.3
Weighted average discount rate		7.2	%		7.2	%

~~Intangibles~~14

~~Intangible assets~~NeuroOne ~~rollforward~~Medical isTechnologies ~~as follows:~~ Corporation

	Useful Life
Net Intangibles, September 30, 2024	12-13 years	$	67,262
Less: amortization			(16,737	)
Net Intangibles, June 30, 2025		$	50,525

Notes to Condensed Financial Statements

~~Amortization expense was $5,579 and $16,737 for the three and nine months ended June 30, 2025, respectively, and $5,578 and $16,736 for the three and nine months ended June 30, 2024, respectively.~~(unaudited)

~~Property and~~Maturity ~~Equipment,~~of ~~Net~~the lease liabilities was as follows:

Property and equipment held for use by category are presented in the following table:

Calendar Year	As of March 31, 2026
2026	$	105,495
2027		81,708
2028		34,815
Total lease payments		222,018
Less imputed interest		(15,045	)
Total		206,973
Short-term portion (included in accrued expenses and other liabilities)		(114,612	)
Long-term portion	$	92,361

	As of June 30, 2025			As of September 30, 2024
Equipment and furniture	$	1,054,666		$	976,303
Total property and equipment		1,054,666			976,303
Less accumulated depreciation		(740,078	)		(559,460	)
Property and equipment, net	$	314,588		$	416,843

Other Contingencies

14In the ordinary course of business, from time to time, the Company may be subject to a broad range of claims and legal proceedings that relate to contractual allegations, patent infringement and other claims. The Company establishes accruals when applicable for matters and commitments which it believes losses are probable and can be reasonably estimated. To date, no loss contingency for such matters and potential commitments have been recorded. Although it is not possible to predict with certainty the outcome of these matters or potential commitments, the Company is of the opinion that the ultimate resolution of these matters and potential commitments will not have a material adverse effect on its results of operations or financial position.

~~NeuroOne Medical~~NOTE ~~Technologies~~5 ~~Corporation~~– Supplemental Balance Sheet Information

~~Notes to Condensed Financial Statements~~Inventory

~~(unaudited)~~Inventory consisted of the following as of:

Depreciation expense was $61,015 and $180,618 for the three months and nine months ended June 30, 2025, respectively, and $57,529 and $165,928 for the three and nine months ended June 30, 2024, respectively.

	March 31, 2026		September 30, 2025
Component inventory	$	1,085,758	$	871,492
Work-in-process		292,314		130,100
Finished goods		488,561		1,225,213
Total	$	1,866,633	$	2,226,805

~~NOTE~~Excess and obsolete valuation 6reserve –adjustments ~~Accrued~~reflected ~~Expenses~~as a reduction of component inventory as of both March 31, 2026 and ~~Other~~September ~~Liabilities~~30, 2025 was $10,000.

~~Accrued expenses consisted of the following at June 30, 2025 and September 30, 2024:~~ Intangibles

	As of June 30, 2025		As of September 30, 2024
Accrued payroll	$	759,263	$	950,260
Operating lease liability, short term		120,373		65,768
Royalty payments		75,000		108,036
Other		3,420		59,950
Total	$	958,056	$	1,184,014

Intangible assets rollforward is as follows:

NOTE 7 – Zimmer Distribution Agreement and Other Product Revenue

	Useful Life
Net Intangibles, September 30, 2025	12-13 years	$	44,946
Less: amortization			(11,157	)
Net Intangibles, March 31, 2026		$	33,789

~~On October~~Amortization ~~25,~~expense ~~2024~~was $5,579 ~~the Company entered into the Zimmer Amended~~ and ~~Restated~~$11,157 ~~Distribution Agreement (the “Amendment”) with~~for ~~Zimmer pursuant to which~~ the ~~Company~~three ~~granted Zimmer the exclusive right~~ and ~~license~~six tomonths ~~distribute~~ended ~~its~~March ~~OneRF~~31, ~~Ablation~~2026, ~~System~~respectively, ~~for~~and an$5,579 ~~upfront payment~~and of $~~3.0 million~~11,158 ~~with eligibility~~ for anthe ~~additional~~three ~~$1.0~~and ~~million~~six ~~payment~~months ~~from~~ended ~~Zimmer~~March ~~upon~~31, ~~achievement of certain specified net~~2025, ~~sales milestones~~respectively.

The Company and Zimmer previously entered into an Exclusive Development and Distribution Agreement dated July 20, 2020, related to the sEEG and Strip/Grid Product Systems, which was subsequently amended pursuant to the terms and conditions of a letter agreement dated January 6, 2021, a Second Amendment to Exclusive Development and Distribution Agreement dated June 28, 2022, and a Third Amendment to Exclusive Development and Distribution Agreement dated August 2, 2022 (collectively, the “EDDA”).The EDDAs executed prior to the Amendment granted Zimmer exclusive global rights to distribute the Strip/Grid Products and the Electrode Cable Assembly Products. Additionally, the Company granted Zimmer the exclusive right and license to distribute certain sEEG Products developed by the Company and together with the Strip/Grid Products and Electrode Cable Assembly Products, the “Products”. In addition, under the prior EDDAs, the Company and Zimmer agreed to collaborate with respect to development activities through a joint development committee composed of an equal number of representatives of Zimmer and the Company.15

~~Under the~~NeuroOne ~~Amendment,~~Medical ~~Zimmer~~Technologies paid the Company $3.0 million for an exclusive RF Distribution License (the “RF Distribution License” and “License”) for commercialization of its OneRF™ product. In addition, the Company is eligible to receive a future milestone payment of $1.0 million upon reaching a one-time sales volume threshold.Corporation

~~The revised~~Notes term under the Amendment (the “Term”) began on the effective date of the Amendment and will remain in effect until October 31, 2034. Upon the expiration of the Term, it may be renewed upon the mutual written of the parties. The Amended and Restated Exclusive Development and Distribution Agreement may be terminated before the expiration of the Term in accordance with certain terms under the Amendment. In addition, the license rights granted to ~~Zimmer~~Condensed ~~under~~Financial ~~this Amendment shall be exclusive (i) until September 30, 2032 for the sEEG Products and Strip/Grid Products; and (ii) until October 31, 2034 for the OneRF™ Product System.~~Statements

~~License Revenue~~(unaudited)

~~The Amendment~~Property was accounted for under the provisions of ASC 606 as a separate contract from the prior EDDAs. In accordance with the provisions under ASC 606, the Company identified the transfer of the RF Distribution License as the sole performance obligation of the RF Distribution License. The distribution rights granted to Zimmer, inclusive of the access to the underlying intellectual property for future production of the OneRF Product if required, was found to have significant standalone functionality as no additional substantive input was required by the Company on a go forward basis. Lastly, ancillary support related to the Amendment was concluded to be a perfunctory obligation and ~~de minimis in terms of required resources.~~Equipment

~~The transaction~~Property ~~price~~and ~~associated~~equipment ~~with~~held ~~the~~for ~~Amendment~~use ~~was~~by ~~$3.0 million,~~category are ~~which~~presented ~~was~~in ~~comprised solely of~~ the ~~OneRF~~following ~~Exclusivity Fee and was allocated totally to RF Distribution License performance obligation.~~table:

	As of March 31, 2026			As of September 30, 2025
Equipment and furniture	$	1,143,814		$	1,058,045
Total property and equipment		1,143,814			1,058,045
Less accumulated depreciation		(913,218	)		(798,823	)
Property and equipment, net	$	230,596		$	259,222

~~NeuroOne~~Depreciation expense was $54,450 and $114,395 ~~Medical~~for ~~Technologies~~the ~~Corporation~~three months and six months ended March 31, 2026, respectively, and $60,055 and $119,603 for the three months and six months ended March 31, 2025, respectively.

~~Notes to~~NOTE ~~Condensed~~6 ~~Financial~~- ~~Statements~~Accrued Expenses and Other Liabilities

~~(unaudited)~~Accrued expenses and other liabilities consisted of the following:

Sales Volume Milestone and Payment

	As of March 31, 2026		As of September 30, 2025
Accrued payroll	$	603,146	$	1,055,121
Operating lease liability, short term		114,612		123,658
Royalty payments		37,500		112,500
Other		—		1,435
Total	$	755,258	$	1,292,714

~~The sales~~NOTE ~~volume~~7 ~~milestone~~– ~~associated~~Zimmer ~~with~~Distribution ~~the Amendment was determined by sales or usage-based thresholds. The sales volume milestone was~~Agreement ~~accounted for under the sales milestone recognition constraint~~ and ~~will~~Other beProduct accounted for as constrained variable consideration. The Company has applied the sales volume constraint to the milestone payment and will not recognize revenue until the sales volume threshold occurs.Revenue

~~Recognition~~On October 25, 2024, the Company entered into the Zimmer Amended and Restated Distribution Agreement (the “Amendment” or “Zimmer Distribution Agreement”) with Zimmer pursuant to which the Company granted Zimmer the exclusive right and license to distribute its OneRF Ablation System for an upfront payment of ~~License~~$3.0 ~~Revenue~~million, with eligibility for an additional $1.0 million payment from Zimmer upon achievement of certain specified net sales milestones.

The Company ~~determined~~ ~~that~~and ~~the~~Zimmer RFpreviously ~~Distribution~~entered ~~License~~into an ~~represented~~Exclusive ~~functional~~Development ~~intellectual~~and ~~property~~Distribution ~~given~~Agreement ~~Zimmer’s~~related ~~access~~ to the ~~underlying~~sEEG ~~intellectual~~and ~~property~~Strip/Grid ~~associated~~Product ~~with~~Systems, ~~the~~which ~~OneRF~~was ~~Product.~~subsequently Asamended a ~~such~~couple of times through August 2, 2022( the ~~revenue~~“EDDA”). ~~related~~The EDDA executed prior to the ~~licenses~~Amendment ~~was~~granted ~~recognized~~Zimmer atexclusive global rights to distribute the ~~point~~Strip/Grid inProducts ~~time~~and inthe ~~which~~Electrode Cable Assembly Products. Additionally, the ~~license/know-how~~Company ~~was~~granted ~~delivered~~Zimmer the exclusive right and license to ~~Zimmer~~distribute ~~which~~certain ~~occurred~~sEEG inProducts ~~October~~developed ~~2024~~by the Company and together with the Strip/Grid Products and Electrode Cable Assembly Products, the “Products”. ~~Revenue~~ ~~recognized~~In addition, under the ~~Amendment~~prior ~~during~~EDDAs, the ~~nine~~Company ~~months~~and ~~ended~~Zimmer ~~June~~agreed ~~30,~~to ~~2025~~collaborate with ~~was~~respect $3to development activities through a joint development committee composed of an equal number of representatives of Zimmer and the Company.~~0 million.~~

~~Product~~Under the Amendment, Zimmer paid the Company $3.0 ~~Revenue~~million for an exclusive RF Distribution License (the “RF Distribution License” and “License”) for commercialization of its OneRF Ablation System in the brain. Distribution and commercialization of the OneRF® Trigeminal Nerve Ablation System is not covered by the License. In addition, the Company is eligible to receive a future milestone payment of $1.0 million upon reaching a one-time sales volume threshold, but does not anticipate achieving this milestone.

~~Product~~The revised term under the Amendment (the “Term”) ~~revenue~~began ~~related~~on the effective date of the Amendment and will remain in effect until October 31, 2034. Upon the expiration of the Term, it may be renewed upon the mutual written consent of the parties. The Amended and Restated Exclusive Development and Distribution Agreement may be terminated before the expiration of the Term in accordance with certain terms under the Amendment. In addition, the license rights granted to Zimmer under this Amendment shall be exclusive (i) until September 30, 2032 for the ~~Company’s~~sEEG Products and Strip/Grid Products,; and ~~sEEG~~(ii) ~~Products~~until October 31, ~~OneRF~~2034 ~~Products~~for ~~and~~the ~~Electrode~~OneRF ~~Cable~~Ablation ~~Assembly~~System ~~Products~~in the brain.

Product revenue recognized during the three and nine months ended June 30, 2025 was $1,696,050 and $6,356,767, respectively and was comprised solely of OneRF Product revenue. OneRF Products were subject to the Amendment upon its execution in October 2024.16

~~Product revenue~~NeuroOne ~~related~~Medical toTechnologies the Company’s Strip/Grid Products, sEEG Products, OneRF Products and Electrode Cable Assembly Products. Product revenue recognized during the three and nine months ended June 30, 2024 was $825,776 and $3,180,719, respectively, inclusive of OneRF Product revenue that amounted to $163,549 during the three and nine months ended June 30, 2024.Corporation

~~NOTE 8~~Notes –to ~~Stock-Based~~Condensed ~~Compensation~~Financial Statements

During the three and nine months ended June 30, 2025 and 2024, stock-based compensation expense related to stock-based awards was included in selling, general and administrative and research and development costs as follows in the accompanying condensed statements of operations.(unaudited)

	Three Months Ended				Nine Months Ended
	June 30,				June 30,
	2025		2024		2025		2024
Selling, general and administrative	$	246,709	$	270,552	$	711,896	$	794,266
Research and development		69,945		68,057		194,152		209,839
Total stock-based compensation expense	$	316,654	$	338,609	$	906,048	$	1,004,105

License Revenue

~~2025~~The Amendment was accounted for under the provisions ~~Equity~~of ~~Incentive~~ASC ~~Plan~~606 as a separate contract from the prior EDDAs. In accordance with the provisions under ASC 606, the Company identified the transfer of the RF Distribution License as the sole performance obligation of the RF Distribution License. The distribution rights granted to Zimmer, inclusive of the access to the underlying intellectual property for future production of the OneRF Product if required, was found to have significant standalone functionality as no additional substantive input was required by the Company on a go forward basis. Lastly, ancillary support related to the Amendment was concluded to be a perfunctory obligation and de minimis in terms of required resources.

~~On January~~The ~~10,~~transaction ~~2025,~~price ~~the~~associated ~~Board~~with ~~of Directors of~~ the ~~Company adopted the NeuroOne Medical Technologies Corporation 2025 Equity Incentive Plan~~Amendment ~~(the~~was ~~“2025 Plan”)~~$3.0 million, Onwhich ~~February~~was ~~14,~~comprised ~~2025,~~solely atof the ~~2025~~One ~~annual~~RF ~~meeting~~Exclusivity ofFee ~~stockholders,~~and ~~the~~was ~~stockholders~~allocated oftotally ~~the~~to ~~Company~~RF ~~approved the~~Distribution ~~2025~~License ~~Plan~~performance obligation.

16Sales Volume Milestone and Payment

~~NeuroOne~~The sales volume milestone associated with the ~~Medical~~Amendment ~~Technologies~~was ~~Corporation~~determined by sales or usage-based thresholds. The sales volume milestone was accounted for under the sales milestone recognition constraint and will be accounted for as constrained variable consideration. The Company has applied the sales volume constraint to the milestone payment and will not recognize revenue until the sales volume threshold occurs.

~~Notes to~~Product ~~Condensed Financial Statements~~Revenue

~~(unaudited)~~Product revenue recognized during the three and six months ended March 31, 2026 was $2,391,185 and $5,283,820, respectively, and was comprised of sales of OneRF Products.

~~The~~Product ~~2025~~revenue ~~Plan~~recognized isduring the ~~successor~~ tothree and six ~~continuation~~months ofended ~~the~~March ~~Company’s~~31, ~~2017~~2025 ~~Equity~~was ~~Incentive~~$1,386,550 ~~Plan (the “2017 Plan”)~~ and to$4,660,717, ~~the Company’s 2016 Equity Incentive Plan (the “Prior Plans”). As of the Effective Date~~respectively, ~~(i) no additional awards may be granted under the Prior Plans; (ii) any Returning Shares will become available for issuance pursuant to Awards granted under the 2025 Plan;~~ and ~~(iii)~~was ~~all outstanding~~comprised ~~awards~~solely ~~granted under the Prior Plans will remain subject to the terms~~ of ~~the~~OneRF ~~Prior~~Product ~~Plans (except to the extent such outstanding awards result in returning shares that become available for issuance pursuant to awards granted under the 2025 Plan.~~revenue

~~Initially, the~~Recognition ~~maximum number~~ of ~~shares~~License of the Company’s Common Stock (the “Common Stock”), that may be issued under the 2025 Plan may not exceed (1) 3,000,000 and (2) any shares subject to outstanding stock awards under the NeuroOne Medical Technologies 2017 Equity Incentive Plan that are forfeited or otherwise returned to the share reserve.Revenue

~~Inducement~~The Company determined that the RF Distribution ~~Plan~~License represented functional intellectual property given Zimmer’s access to the underlying intellectual property associated with the OneRF Product. As such, the revenue related to the license was recognized at the point in time in which the license/know-how was delivered to Zimmer which occurred in October 2024. Revenue recognized under the Amendment during the six months ended March 31, 2025 was $3.0 million. No license revenue was recognized during the three and six months ended March 31, 2026.

~~In October~~NOTE ~~2021,~~8 ~~the~~– ~~Company~~Stock-Based adopted the NeuroOne Medical Technologies Corporation 2021 Inducement Plan (the “Inducement Plan”), pursuant to which the Company reserved 420,350 shares of its common stock to be used exclusively for grants of awards to individuals who were not previously employees or directors of the Company, as an inducement material to the individual’s entry into employment with the Company within the meaning of Rule 5635(c)(4) of the Nasdaq Listing Rules. The Inducement Plan was approved by the Company’s Board of Directors without stockholder approval in accordance with such a rule. On November 9, 2023, the Company’s Board of Directors adopted the First Amendment to the Company’s Inducement Plan, increasing the aggregate number of shares of common stock that may be issued pursuant to equity incentive awards under the Inducement Plan by 150,000 shares, and on May 20, 2025, the Board adopted the Second Amendment to the Company’s Inducement Plan, increasing the aggregate number of shares of common stock that may be issued pursuant to equity incentive awards under the Inducement Plan by an additional 575,000 shares.Compensation

~~2017~~During the three and six months ended March 31, ~~Plan~~2026 and ~~Evergreen~~2025, ~~Provision~~stock-based compensation expense related to stock-based awards was included in selling, general and administrative and research and development costs as follows in the accompanying condensed statements of operations.

On January 1, 2025, 1,124,446 shares were added to the 2017 Plan as a result of the evergreen provision within the 2017 Plan. However, upon the adoption of the 2025 Plan, there will be no further issuance of grants under the 2017 Plan and any forfeitures of grants issued under the 2017 Plan will be added to the amount available for future issuance under the 2025 Plan. Grants issued under the 2017 Plan will continue to be governed under the terms of the 2017 Plan.

	Three Months Ended				Six Months Ended
	March 31,				March 31,
	2026		2025		2026		2025
Selling, general and administrative	$	262,474	$	195,559	$	541,859	$	465,189
Research and development		79,661		54,611		159,531		124,205
Total stock-based compensation expense	$	342,135	$	250,170	$	701,390	$	589,394

~~Stock Options~~17

~~During~~NeuroOne ~~the~~Medical ~~three~~Technologies months ended June 30, 2025 and 2024, the Company granted 3,285,496 and zero stock options, respectively, to its board of directors, officers, employees and consultants. During the nine months ended June 30, 2025 and 2024, the Company granted 3,336,571 and 1,225,669 stock options, respectively, to its board of directors, officers, employees and consultants. Vesting generally occurs over a 12 to 48 month period based on a time of service condition. The grant date fair value of the grants issued during the three months ended June 30, 2025 was $0.50 per share. The grant date fair value of the grants issued during the nine months ended June 30, 2025 and 2024 was $0.50 and $1.08 per share, respectively.Corporation

~~The total~~Notes ~~expense for the three months ended June 30, 2025 and 2024 related~~ to ~~stock~~Condensed ~~options~~Financial was $203,095 and $202,338, respectively. The total expense for the nine months ended June 30, 2025 and 2024 related to stock options was $534,426 and $603,957, respectively. The total number of stock options outstanding as of June 30, 2025 and September 30, 2024 was 6,131,448 and 2,814,096, respectively.Statements

17(unaudited)

~~NeuroOne Medical~~2025 ~~Technologies~~Equity ~~Corporation~~Incentive Plan

~~Notes~~On January 10, 2025, the Board of Directors of tothe ~~Condensed~~Company ~~Financial~~adopted ~~Statements~~the NeuroOne Medical Technologies Corporation 2025 Equity Incentive Plan (the “2025 Plan”). On February 14, 2025, at the 2025 annual meeting of stockholders, the stockholders of the Company approved the 2025 Plan.

The 2025 Plan is the successor to and continuation of the Company’s 2017 Equity Incentive Plan (~~unaudited~~the “2017 Plan”) and to the Company’s 2016 Equity Incentive Plan (together, the “Prior Plans”). As of the Effective Date, (i) no additional awards may be granted under the Prior Plans; (ii) any Returning Shares will become available for issuance pursuant to Awards granted under the 2025 Plan; and (iii) all outstanding awards granted under the Prior Plans will remain subject to the terms of the Prior Plans (except to the extent such outstanding awards result in returning shares that become available for issuance pursuant to awards granted under the 2025 Plan).

~~The weighted-average~~Initially, ~~assumptions~~the ~~used~~maximum innumber of shares of the Company’s ~~Black-Scholes~~common ~~option-pricing~~stock ~~model~~that ~~are~~may asbe ~~follows~~issued ~~for~~under the ~~stock~~2025 ~~options~~Plan ~~granted~~may ~~during~~not ~~the~~exceed ~~three~~ (1) 500,000 and ~~nine~~(2) ~~months~~any ~~ended~~shares ~~June~~subject ~~30,~~to outstanding ~~2025~~stock ~~and~~awards ~~2024:~~ under the 2017 Plan that are forfeited or otherwise returned to the share reserve. See “Note 15 - Subsequent Events”.

	Three Months Ended						Nine Months Ended
	June 30,						June 30,
	2025			2024			2025			2024
Expected stock price volatility		109.9	%		—	%		110.0	%		111.9	%
Expected life of options (years)		6.0			—			6.0			6.1
Expected dividend yield		—	%		—	%		—	%		0	%
Risk free interest rate		4.0	%		—	%		4.0	%		4.6	%

Inducement Plan

~~During~~ In October 2021, the ~~three~~Company ~~months~~adopted ~~ended~~the ~~June~~NeuroOne Medical ~~30,~~Technologies ~~2025~~Corporation ~~and~~2021 ~~2024,~~Inducement ~~136,589~~Plan ~~and~~(the ~~127~~“Inducement Plan”),~~583~~ ~~stock~~pursuant ~~options~~to ~~vested,~~which ~~respectively,~~the ~~and~~Company 19reserved 70,~~219~~058 shares of ~~and~~its ~~65,000~~common stock ~~options~~ to be used exclusively for grants of awards to individuals who were ~~forfeited~~not previously employees or directors of the Company, ~~respectively~~as an inducement material to the individual’s entry into employment with the Company within the meaning of Rule 5635(c)(4) of the Nasdaq Listing Rules. ~~During~~The Inducement Plan was approved by the ~~nine~~Company’s ~~months~~Board ~~ended~~of ~~June~~Directors ~~30,~~without ~~2025~~stockholder ~~and~~approval in ~~2024~~accordance with such a rule. On November 9, ~~640~~2023,~~573~~ ~~and~~the ~~232~~Company’s Board of Directors adopted the First Amendment to the Company’s Inducement Plan,~~494~~ increasing the aggregate number of shares of common stock ~~options~~that ~~vested~~may be issued pursuant to equity incentive awards under the Inducement Plan by 25,000 shares. ~~respectively~~Additionally, ~~and~~ 19on May 20,~~219~~ ~~and~~2025, ~~120~~the Board of Directors adopted the Second Amendment to the Company’s Inducement Plan,~~000~~ increasing the aggregate number of shares of common stock ~~options~~that ~~were~~may ~~forfeited~~be ~~during~~issued ~~these~~pursuant ~~periods,~~to ~~respectively~~equity incentive awards under the Inducement Plan by an additional 95,833 shares. ~~During~~Lastly, on February 25, 2026, the ~~three~~Board ~~and~~of ~~nine~~Directors adopted ~~months~~the ~~ended~~Third ~~June~~Amendment 30to the Company’s Inducement Plan, increasing the aggregate number of shares of common stock that may ~~2025~~be ~~and~~issued ~~2024~~pursuant to equity incentive awards under the Inducement Plan by an additional 83,333 shares nofor ~~options~~an ~~were~~aggregate ~~exercised~~total of 274,224 shares.

~~Restricted~~ Stock ~~Units~~Options

During the three ~~and nine~~ months ended ~~June~~March 3031, 2026 and 2025, the Company granted an83,334 ~~aggregate~~and 8,514 stock options, respectively, to its board of ~~zero~~directors and 83officers. During the six months ended March 31,~~334~~ ~~restricted~~2026 and 2025, the Company granted 84,135 and 8,514 stock ~~units~~options, ~~(“RSUs”)~~ respectively, to ~~non-employee~~its ~~directors~~board ~~under~~of ~~the~~directors ~~2025~~and ~~Plan~~officers. Vesting ~~The~~generally ~~weighted~~occurs ~~average~~over a 12 to 46 month period based on a time of service condition. The grant date fair value of the ~~RSUs~~grants ~~granted~~ issued during the ~~nine~~three months ended ~~June~~March 3031, 2026 and 2025 was $13.2035 and $5.87 per ~~RSU~~share, respectively. The ~~RSUs~~grant ~~granted~~date ~~vest~~fair ~~over~~value aof ~~one-year~~the ~~period~~grants issued induring ~~equal~~the ~~monthly~~six ~~installments~~months ended March 31, ~~subject~~2026 toand ~~the~~2025 ~~recipient’s continued~~was ~~service~~$3.35 onand ~~such~~$5.87 ~~dates~~per share, respectively.

~~During~~The total expense for the ~~nine~~three months ended March ~~June 30~~31, ~~2024,~~2026 ~~the Company~~and ~~granted~~2025 anrelated ~~aggregate~~to ofstock ~~1,006,725~~options ~~RSUs~~was ~~to its officers~~$243,854 ~~employees~~ and ~~consultants under the 2017 Plan~~$128,378, respectively. The ~~weighted average~~total ~~grant~~expense ~~date~~for ~~fair value of~~ the ~~RSUs~~six ~~granted during the nine~~ months ended March ~~June 30~~31, ~~2024~~2026 ~~was~~and ~~$1.03~~2025 ~~per~~related ~~unit.~~to ~~The~~stock ~~RSUs~~options ~~granted vest~~was ~~over~~$489,088 aand ~~four-year~~$331,332, ~~period~~respectively. inThe ~~equal~~total ~~annual~~number ~~installments~~of onstock ~~the~~options ~~anniversary~~outstanding as ~~date~~ of ~~the~~March ~~grant~~31, ~~subject~~2026 toand ~~the~~September ~~recipient’s~~30, ~~continued service~~2025 onwas ~~such~~1,098,038 ~~dates~~and 1,013,903, respectively.

During the three months ended June 30, 2025 and 2024, 35,771 and 162,309 RSUs vested, respectively, and 2,500 and zero RSUs were forfeited during these periods, respectively. During the nine months ended June 30, 2025 and 2024, 362,129 and 232,523 RSUs vested, respectively, and 2,500 and zero RSUs were forfeited these periods, respectively. The total expense for the three months ended June 30, 2025 and 2024 related to these RSUs was $113,559 and $136,271, respectively. The total expense for the nine months ended June 30, 2025 and 2024 related to these RSUs was $371,622 and $400,148, respectively. The total number of RSUs outstanding as of June 30, 2025 and September 30, 2024 was 848,468 and 1,129,762, respectively.18

~~General~~NeuroOne Medical Technologies Corporation

~~As of~~Notes June 30, 2025, 1,709,604 shares were available in the aggregate for future issuance under the 2025 Plan and Inducement Plan. Unrecognized stock-based compensation was $3,227,785 as of June 30, 2025. The unrecognized share-based expense is expected to beCondensed ~~recognized~~Financial ~~over a weighted average period of 3.7 years.~~Statements

~~NOTE 9 – Concentrations~~(unaudited)

~~Revenue~~The weighted-average assumptions used in the Black-Scholes option-pricing model are as follows for the stock options granted during the three and six months ended March 31, 2026 and 2025:

For the three months and nine months ended June 30, 2025, one customer accounted for 100% and 96% of the Company’s product revenue, respectively. For the three months and nine months ended June 30, 2024, one customer accounted for 80% and 95% of the Company’s product revenue, respectively.

	Three Months Ended						Six Months Ended
	March 31,						March 31,
	2026			2025			2026			2025
Expected stock price volatility		107.1	%		110.2	%		107.1	%		110.2	%
Expected life of options (years)		6.0			5.25			6.0			5.25
Expected dividend yield		0	%		0	%		0	%		0	%
Risk free interest rate		3.6	%		4.3	%		3.6	%		4.3	%

~~Supplier~~During the three months ended March 31, 2026 ~~concentration~~and 2025, 27,059 and 18,282 stock options vested, respectively, and zero stock options were forfeited during these periods. During the six months ended March 31, 2026 and 2025, 55,443 and 84,024 stock options vested, respectively, and zero stock options were forfeited during these periods, respectively. During the three and six months ended March 31, 2026 and 2025, no options were exercised.

~~One contract~~Restricted ~~manufacturer~~Stock ~~produces all of the Company’s Strip/Grid Products and sEEG Products and another supplier was responsible for the development of the Company’s OneRF Ablation generator and manufactures it.~~Units

18During the six months ended March 31, 2026, the Company granted an aggregate of 1,293 restricted stock units (“RSUs”) to a non-employee director under the 2025 Plan. The weighted average grant date fair value of the RSUs granted during the six months ended March 31, 2026 was $4.30 per RSU. The RSUs granted vest over a one-year period in equal monthly installments, subject to the recipient’s continued service on such dates.

~~NeuroOne~~During the three and six months ended March 31, ~~Medical~~2025, ~~Technologies~~the ~~Corporation~~Company granted an aggregate of 13,887 RSUs to non-employee directors under the 2025 Plan. The weighted average grant date fair value of the RSUs granted during the three and six months ended March 31, 2025 was $7.20 per RSU. The RSUs granted vest over a one-year period in equal monthly installments, subject to the recipient’s continued service on such dates.

~~Notes~~During the three months ended March 31, 2026 and 2025, 45,915 and 48,088 RSUs vested, respectively, and no RSUs were forfeited during these periods. During the six months ended March 31, 2026 and 2025, 51,983 and 54,390 RSUs vested, respectively, and no RSUs were forfeited during these periods. The total expense for the three months ended March 31, 2026 and 2025 related to ~~Condensed~~these ~~Financial~~RSUs ~~Statements~~was $98,281 and $121,792, respectively. The total expense for the six months ended March 31, 2026 and 2025 related to these RSUs was $212,302 and $258,062, respectively. The total RSUs outstanding as of March 31, 2026 and September 30, 2025 was 84,750 and 135,439, respectively.

~~(unaudited)~~General

~~NOTE~~As of March 31, 2026, 307,010 shares were available 10in –the ~~Income~~aggregate ~~Taxes~~for future issuance under the 2025 Plan, 2017 Plan and Inducement Plan. Unrecognized stock-based compensation was $2,454,928 as of March 31, 2026. The unrecognized share-based expense is expected to be recognized over a weighted average period of 2.5 years.

~~The~~NOTE ~~effective~~9 ~~tax~~– rate for the three and nine months ended June 30, 2025 and 2024 was zero percent. As a result of the analysis of all available evidence as of June 30, 2025 and September 30, 2024, the Company recorded a full valuation allowance on its net deferred tax assets. Consequently, the Company reported no income tax benefit during the three and nine months ended June 30, 2025 and 2024. If the Company’s assumptions change and the Company believes that it will be able to realize these deferred tax assets, the tax benefits relating to any reversal of the valuation allowance on deferred tax assets will be recognized as a reduction of future income tax expense. If the assumptions do not change, each period the Company could record an additional valuation allowance on any increases in the deferred tax assets. The One Big Beautiful Bill Act (OBBBA) was enacted on July 4, 2025 and the Company continues to evaluate the impact on its financial position. The OBBBA is not currently expected to materially impact the Company’s effective tax rate or cash flows in the current fiscal year.Concentrations

~~NOTE 11 - Debt Financing~~Revenue

~~Debt~~For the three months and six months ended March ~~Facility~~31, ~~Financing~~2026, one customer accounted for 99.4% and 99.7% of the Company’s product revenue, respectively.

~~On August~~For ~~2, 2024,~~ the ~~Company~~three ~~entered~~months ~~into a loan~~ and ~~security~~six ~~agreement~~months ~~(the~~ended ~~“Debt Facility Agreement”) with Growth Opportunity~~March ~~Funding~~31, ~~LLC~~2025, asone ~~the~~customer ~~lender~~accounted ~~(the “Lender”), which provided~~ for ~~a delayed draw term loan facility in an aggregate principal amount not to exceed $3~~100.0% ~~million~~and ~~(the “Debt Facility”)~~93.9% The Company was permitted to borrow loans under the Debt Facility from time to time (collectively, the “Loans”), for general corporate purposes and subject to certain specified conditions, until the earliest of: ~~(i) November 30, 2024, (ii)~~ the ~~occurrence of any Monetization Event (as defined in the Debt Facility Agreement) or Change of Control (as defined in the Debt Facility Agreement), or (iii) at the Lender~~Company’s ~~option,~~product ~~upon the occurrence and during the continuance of an event of default under the Debt Facility Agreement. On November 7~~revenue, ~~2024, the Company terminated the Debt Facility Agreement, and no amounts were drawn under the Debt Facility Agreement~~respectively. The Company paid a termination fee of $125,000 to the Lender and incurred additional legal fees of $7,091 related to the termination. The Company also incurred non-termination Debt Facility costs of $192,647 during the nine months ended June 30, 2025.

~~At closing~~Supplier of the Debt Facility, the Company issued to the Lender a warrant exercisable for five years for 100,000 shares of common stock at an exercise price of $0.66 per share, subject to adjustment (the “Closing Date Debt Facility Warrant”). The Closing Date Debt Facility Warrant was accounted for and classified as equity on the accompanying condensed balance sheets.concentration

~~NOTE~~One contract manufacturer produces all of the 12Company’s –Strip/Grid ~~Stockholders~~Products and sEEG Products and another supplier was responsible for the development of the Company’s OneRF ~~Equity~~Ablation System generator.

~~April 2025 Financing~~19

OnNeuroOne ~~April 4,~~Medical ~~2025,~~Technologies the Company entered into an Underwriting Agreement (the “Underwriting Agreement”) with Ladenburg Thalmann & Co. Inc. as underwriter (the “Underwriter”), relating to the issuance and sale of 16,000,000 shares of the Company’s common stock at a price to the public of $0.50 per share (the “April 2025 Financing”). In addition, under the terms of the Underwriting Agreement, the Company granted the Underwriter an option, exercisable for 45 days, to purchase up to an additional 2,400,000 shares of common stock on the same terms as the offering, which overallotment was exercised in full. Issuance costs in connection with the April 2025 Financing amounted to $960,717 which included a 7% commission to the Underwriter and legal and other expenses in the amount of $316,717. Net proceeds to the Company were $8,239,283.Corporation

~~August 2024 Private~~Notes ~~Placement~~to Condensed Financial Statements

~~On August 1, 2024, the Company entered into a Securities Purchase Agreement~~ (~~the “Purchase Agreement”~~unaudited) with certain accredited investors (the “Purchasers”), pursuant to which the Company, in a private placement (the “2024 Private Placement”), agreed to issue and sell an aggregate of (i) 2,944,446 shares of the Company’s common stock and (ii) warrants to purchase an aggregate of 2,208,338 shares of common stock (the “PIPE Warrants”) at a purchase price of $0.90 per unit, consisting of one share and a PIPE Warrant to purchase 0.75 shares of common stock, resulting in total gross proceeds of approximately $2.65 million before deducting expenses. Issuance costs attributed to 2024 Private Placement amounted to approximately $0.2 million. The 2024 Private Placement closed on August 2, 2024.

19NOTE 10 – Income Taxes

~~NeuroOne~~The effective tax rate for the three and six ~~Medical~~months ~~Technologies~~ended ~~Corporation~~March 31, 2026 and 2025 was zero percent. As a result of the analysis of all available evidence as of March 31, 2026 and September 30, 2025, the Company recorded a full valuation allowance on its net deferred tax assets. Consequently, the Company reported no income tax benefit during the three and six months ended March 31, 2026 and 2025. If the Company’s assumptions change and the Company believes that it will be able to realize these deferred tax assets, the tax benefits relating to any reversal of the valuation allowance on deferred tax assets will be recognized as a reduction of future income tax expense. If the assumptions do not change, each period the Company could record an additional valuation allowance on any increases in the deferred tax assets.

~~Notes to~~NOTE ~~Condensed~~11 ~~Financial~~- ~~Statements~~Debt Financing

On August 2, 2024, the Company entered into a loan and security agreement (~~unaudited~~the “Debt Facility Agreement”) with Growth Opportunity Funding, LLC, as the lender (the “Lender”), which provided for a delayed draw term loan facility in an aggregate principal amount not to exceed $3.0 million (the “Debt Facility”). The Company was permitted to borrow loans under the Debt Facility from time to time (collectively, the “Loans”), for general corporate purposes and subject to certain specified conditions, until the earliest of: (i) November 30, 2024, (ii) the occurrence of any Monetization Event or Change of Control (as each defined in the Debt Facility Agreement), or (iii) at the Lender’s option, upon the occurrence and during the continuance of an event of default under the Debt Facility Agreement. On November 7, 2024, the Company terminated the Debt Facility Agreement, and no amounts were drawn under the Debt Facility Agreement. The Company paid a termination fee of $125,000 to the Lender and incurred additional legal fees of $7,091 related to the termination. The Company also incurred non-termination Debt Facility costs of $192,647 during the six months ended March 31, 2025.

~~The~~At ~~PIPE~~closing ~~Warrants~~of ~~are~~the ~~exercisable beginning on~~Debt Facility, the ~~date~~Company ofissued ~~issuance~~to ~~and~~the ~~had~~Lender ana ~~initial~~warrant ~~exercise~~exercisable ~~price~~for offive ~~$1.19~~years ~~per~~for ~~share~~16,666 ~~subject~~shares toof ~~adjustment.~~common Instock ~~April~~at ~~2025,~~an ~~the~~ exercise price ~~was~~ ~~reset~~of to $03.~~465~~96 ~~upon~~per ~~the close of the April 2025 Financing for all of the PIPE Warrants~~share, ~~except~~subject ~~for the PIPE Warrants~~ to ~~purchase~~adjustment ~~20,834 shares of common stock issued to a director on~~ (the ~~Company’s~~“Closing ~~Board~~Date ofDebt ~~Directors~~Facility ~~for~~Warrant”). ~~which~~The ~~the~~Closing ~~exercise~~Date ~~price~~Debt ~~was~~Facility ~~reset to $0.876~~Warrant ~~per~~was ~~share.~~accounted ~~The~~for ~~PIPE~~and ~~Warrants~~classified ~~will~~as ~~expire~~equity on the ~~third~~accompanying ~~anniversary~~condensed ofbalance ~~the date of issuance~~sheets.

~~The PIPE~~NOTE ~~Warrants~~12 ~~were~~– ~~accounted~~Stockholders’ for and classified as liabilities on the accompanying condensed balance sheets given certain price reset provisions not used for a fair valuation under a fixed for fixed settlement scenario as required for equity balance sheet classification. A Monte Carlo simulation model was used to estimate the aggregate fair value of the PIPE Warrants. Input assumptions used were as follows on June 30, 2025 and September 30, 2024: risk-free interest rate 3.65% and 3.53%, respectively; expected volatility of 97.9% and 115.7%; respectively; expected life of 2.1 years and 2.84 years, respectively; and expected dividend yield zero percent for both dates. The underlying stock price used was the market price as quoted on Nasdaq as of June 30, 2025 and September 30, 2024. The Company recorded the fair value change of the PIPE Warrants in the amount of $319,625 and $1,099,421, respectively, to the fair value change in warrant liability line item on the accompanying condensed statements of operations for the three and nine months ended June 30, 2025.Equity

~~At-The-Market Offering~~March 2026 Private Placement

On ~~December~~ 21March 1, ~~2022~~2026, the Company entered into a ~~Capital~~securities onpurchase ~~DemandTM~~agreement ~~Sales Agreement~~ (the “~~Sales~~March ~~Agreement”)~~2026 ~~with JonesTrading~~Private ~~Institutional Services LLC (“JonesTrading~~Placement”) ~~that~~with ~~created~~a annewly ~~at-the-market~~appointed ~~offering program (“ATM”)~~officer ~~under which the Company may offer and sell common stock having an aggregate offering price~~ of ~~up to $14.5 million. JonesTrading is entitled to a commission at a fixed commission rate of up to 3% of~~ the ~~gross proceeds. On July 24~~Company, ~~2023,~~David ~~the Company decreased the amount of common stock that can be sold pursuant to the Sales Agreement~~Wambeke, ~~such that the Company was offering up~~ to anissue ~~aggregate~~and ofsell ~~$2.6 million of its common stock for sale under the Sales Agreement~~166,666 ~~including the~~ shares of ~~common stock previously sold. Subsequently on December 1, 2023, however,~~ the Company’s ~~increased the amount of~~ common stock ~~that~~at ~~can~~a beprice ~~sold~~per ~~pursuant~~share toequal ~~the Sales Agreement, such that the Company was offering up~~ to ~~an aggregate of~~ $4.802242. The ~~million~~March of2026 ~~its~~Private ~~common~~Placement ~~stock~~closed ~~for~~on ~~sale~~March ~~under the Sales Agreement~~2, ~~including~~2026 ~~the~~upon ~~shares of~~which ~~common stock previously sold. On January 5, 2024,~~ the Company ~~further~~received ~~increased~~gross ~~the~~proceeds ~~amount~~in ~~of common stock that can be sold pursuant to~~ the ~~Sales~~amount ~~Agreement, such that the Company was offering up to an aggregate~~ of $~~9.3 million of its common stock for sale under the Sales Agreement~~670, ~~including the shares of common stock previously sold~~400. ~~On August 16, 2024, the Company increased the amount of common~~Issuance ~~stock~~costs ~~that~~in ~~can~~connection bewith ~~sold pursuant to~~ the ~~Sales~~March ~~Agreement~~2026 byPrivate ~~$3.0~~Placement ~~million.~~were ~~On April 3, 2025, the Company decreased the amount of common stock that can be sold pursuant to the Sales Agreement to zero~~nil.

~~During the~~August ~~nine months ended June 30, 2025, 355,899 shares of common stock were issued under the ATM for an aggregate offering price of $414,037.~~2024 Private ~~Issuance costs incurred under the ATM during the three and nine months ended June 30, 2025 were $9,325 and $105,254, respectively.~~Placement

~~During~~ On August 1, 2024, the Company ~~three~~entered ~~and~~into ~~nine~~a Securities ~~months~~Purchase ~~ended~~Agreement ~~June~~with 30certain accredited investors (the “Purchasers”), ~~2024~~pursuant to which the Company, 1in a private placement (the “2024 Private Placement”),~~419,317~~ agreed to issue and 3sell an aggregate of (i) 490,~~748,913~~741 shares of the Company’s common stock ~~were~~and ~~issued,~~(ii) ~~respectively~~warrants to purchase an aggregate of 368,052 ~~under~~shares ~~the~~of ~~ATM~~common stock (the ~~for~~“PIPE anWarrants”) ~~aggregate~~at ~~offering~~a purchase price of $15.40 per unit,~~683,439~~ consisting of one share and $5a PIPE Warrant to purchase 0.75 shares of common stock,~~033,906,~~ ~~respectively~~resulting in total gross proceeds of approximately $2.65 million before deducting expenses. Issuance costs ~~incurred~~attributed to ~~under~~2024 ~~the~~Private ~~ATM~~Placement ~~during~~amounted ~~the~~to ~~three~~approximately ~~and nine~~$0.2 ~~months~~million. ~~ended~~The ~~June~~2024 ~~30,~~Private ~~2024~~Placement ~~were~~closed ~~$50,519~~on ~~and~~August ~~$236~~2,~~599,~~ ~~respectively~~2024.

The PIPE Warrants are ~~total~~exercisable ~~aggregate~~beginning ~~offering~~on the date of issuance, have an initial exercise price of $7.14 per share, subject to adjustment, and ~~common~~will ~~stock~~expire on ~~issued~~the ~~since~~third ~~inception~~anniversary of the ~~ATM~~date ~~though~~of ~~June~~issuance. 30One of the Purchasers in the 2024 Private Placement included Paul Buckman, a director on the Company’s Board of Directors. In April 2025, the exercise price was reset to $82.79 upon the close of the April 2025 Financing for all of the PIPE Warrants,~~000,600~~ ~~and~~except 5for the PIPE Warrants to purchase 3,~~544,489~~472 shares, of common stock issued to a director on our Board ~~respectively~~of Directors for which the exercise price was reset to $5.26 per share.

~~Warrant Activity and Summary~~20

~~There were~~NeuroOne noMedical ~~warrant~~Technologies ~~exercises or expirations during the three and nine months ended June 30, 2025.~~Corporation

20Notes to Condensed Financial Statements

~~NeuroOne Medical Technologies Corporation~~(unaudited)

~~Notes~~The PIPE Warrants were accounted for and classified as liabilities on the accompanying condensed balance sheets given certain price reset provisions not used for a fair valuation under a fixed for fixed settlement scenario as required for equity balance sheet classification. A Monte Carlo simulation model was used to ~~Condensed~~estimate ~~Financial~~the ~~Statements~~aggregate fair value of the PIPE Warrants. Input assumptions used were as follows on March 31, 2026 and September 30, 2025: risk-free interest rate 3.65% and 3.55%, respectively; expected volatility of 94.2% and 94.5%; respectively; expected life of 1.34 years and 1.84 years, respectively; and expected dividend yield zero percent for both dates. The underlying stock price used was the market price as quoted on Nasdaq as of March 31, 2026 and September 30, 2025. The Company recorded the fair value change of the PIPE Warrants in the amount of $8,271 and a benefit of $(214,469) to the fair value change in warrant liability line item on the accompanying condensed statements of operations for the three and six months ended March 31, 2026, respectively. The Company recorded the fair value change of the PIPE Warrants in the amount of a $(390,351) benefit and a $(779,796) benefit to the fair value change in warrant liability line item on the accompanying condensed statements of operations for the three and six months ended March 31, 2025, respectively.

~~(unaudited)~~At-The-Market Offering

~~The~~On December 21, 2022, the Company entered into ~~following~~a ~~table~~Capital ~~summarizes~~on ~~information~~DemandTM ~~about~~Sales ~~warrants~~Agreement ~~outstanding~~(the “Sales Agreement”) with JonesTrading Institutional Services LLC (“JonesTrading”) that created an at-the-market ~~June~~offering ~~30,~~program ~~2025:~~(“ATM”) under which the Company may offer and sell common stock having an aggregate offering price of up to $14.5 million. JonesTrading is entitled to a commission at a fixed commission rate of up to 3% of the gross proceeds.

~~Warrant~~In ~~Activity~~2023, the Company changed the amount of common stock that can be sold pursuant to the Sales Agreement to $4.8 million (including shares previously sold). On April 3, 2025, we decreased the amount of common stock available under the ATM to zero, and ~~Summary~~ August 15, 2025, we increased the amount of common stock that can be sold pursuant to the Sales Agreement to $6,750,000.

	Warrants		Exercise Price Per Warrant		Weighted Average Exercise Price		Weighted Average Term (Years)
Outstanding and exercisable at September 30, 2024		7,045,875	$	0.66-5.61	$	3.81		1.98
Issued		—	$	—	$	—		—
Exercised		—	$	—	$	—		—
Expired		—	$	—	$	—		—
Outstanding and exercisable at June 30, 2025		7,045,875	$	0.465-5.61	$	3.59		1.23

During the three and six months ended March 31, 2025, 59,314 shares of common stock were issued under the ATM for an aggregate offering price of $414,037. Issuance costs incurred under the ATM during the three and six months ended March 31, 2025 were $95,929. There were no shares issued out of the ATM during the three and six months ended March 31, 2026.

The total aggregate offering price and common ~~following~~stock ~~table~~issued ~~summarizes~~since ~~information~~inception ~~about~~of ~~warrants~~the ~~outstanding~~ATM atProgram ~~June~~through 30March 31, ~~2024:~~2026 was $8,000,600 and 924,081 shares, respectively. Cumulative issuance costs incurred under the ATM Program through March 31, 2026 was $617,882, inclusive of deferred offering costs.

Exercise Price		Number Outstanding		Weighted Average Remaining Contractual life (Years)	Number Exercisable at June 30, 2025
$	0.465		2,187,504	2.09		2,187,504
$	0.66		100,000	4.09		100,000
$	0.876		20,834	2.09		20,834
$	3.00		350,000	2.09		350,000
$	5.25		4,166,682	0.54		4,166,682
$	5.61		220,855	3.00		220,855
Total			7,045,875			7,045,875

Warrant Activity and Summary

As provided in the PIPE Warrant agreement, the exercise price of the PIPE Warrants was adjusted downward from $1.08 per share as of March 31, 2025 to $0.465 per share for most of the PIPE Warrants as of June 30, 2025 attributed to the April 2025 Financing. The exercise price of the PIPE Warrants issued to a director of the Company’s Board of Directors, however, was reset to $0.876 per share given a higher floor price provision for that individual.

	Warrants			Exercise Price Per Warrant			Weighted Average Exercise Price		Weighted Average Term (years)
Outstanding at September 30, 2025		1,149,323			$	2.79-33.66	$	21.92		0.96
Issued		—			$	—	$	—		—
Exercised (1)		(93,750	)		$	2.79	$	2.79		—
Expired		(694,462	)		$	31.50	$	31.50		—
Outstanding at March 31, 2026		361,111			$	2.79-33.66	$	8.47		1.52
Outstanding and exercisable at March 31, 2026		361,111			$	2.79-33.66	$	8.47		1.52

21(1) 16,780 of the shares exercised were withheld in connection with a cashless exercise.

~~NeuroOne Medical Technologies Corporation~~21

~~Form~~NeuroOne ~~10-Q~~ Medical Technologies Corporation

~~Item 2.~~Notes ~~Management’s~~to ~~Discussion~~Condensed ~~and Analysis of~~ Financial ~~Condition and Results of Operations~~Statements

This Report contains forward-looking statements that involve substantial risks and uncertainties. In some cases, you can identify forward-looking statements by the words “may,” “might,” “will,” “could,” “would,” “should,” “expect,” “intend,” “plan,” “objective,” “anticipate,” “believe,” “estimate,” “predict,” “project,” “potential,” “target,” “seek,” “contemplate,” “continue” and “ongoing,” or the negative of these terms, or other comparable terminology intended to identify statements about the future. These statements involve known and unknown risks, uncertainties and other factors that may cause our actual results, levels of activity, performance or achievements to be materially different from the information expressed or implied by these forward-looking statements. Although we believe that we have a reasonable basis for each forward-looking statement contained in this Report, we caution you that these statements are based on a combination of facts and factors currently known by us and our expectations of the future, about which we cannot be certain. Forward-looking statements include statements about:(unaudited)

●The ~~our~~following ~~ability~~table tosummarizes ~~maintain~~information ~~regulatory~~about warrants ~~clearance~~outstanding as of ~~our~~March ~~cortical strip and grid electrode technology~~31, ~~and our OneRF ablation system;~~2026:

● our ability to successfully commercialize our technology in the United States;

Exercise Price		Number Outstanding		Weighted Average Remaining Contractual life (Years)		Number Exercisable as of March 31, 2026
$	2.79		245,830		1.34		245,830
$	3.96		16,666		3.34		16,666
$	5.26		3,472		1.34		3,472
$	18.00		58,333		1.34		58,333
$	33.66		36,810		1.25		36,810
Total			361,111				361,111

●NOTE ~~our~~13 ~~ability~~- toDefined ~~achieve~~Contribution ~~or sustain profitability;~~Plan

●The ~~our~~Company ~~ability~~has toa ~~raise~~401(k) ~~additional~~defined ~~capital~~contribution plan (the “401K Plan”) for all employees age 21 and older. Employees can defer up to 100% ~~fund~~of ~~our~~their ~~operations;~~compensation through payroll withholdings into the 401K Plan subject to federal law limits. The Company may match 100% of deferrals up to 3% of one’s contributions. The Company’s matching contributions to employee deferrals are discretionary. The Company may also make discretionary profit sharing contributions under the 401K Plan in the future, but it has not done so through March 31, 2026.

●Employee contributions and any employer matching contributions made to satisfy certain non-discrimination tests required by the ~~availability~~Internal Revenue Code are 100% vested upon contribution. Discretionary employer matches to employee deferrals vest over a six year period beginning on the second anniversary of ~~additional~~an ~~capital~~employee’s date of hire. Discretionary profit sharing contributions vest over a five year period beginning on ~~acceptable~~the ~~terms~~first oranniversary atof ~~all~~an asemployee’s date orof ~~when~~hire. ~~needed;~~The Company did not make any contributions to the 401K Plan during the three and six months ended March 31, 2026 and 2025.

●NOTE ~~the~~14 ~~clinical~~– ~~utility~~Segment ~~of our cortical strip, grid and depth electrode, RF ablation system, and technology under development;~~Reporting

●Operating ~~our~~segments ~~ability~~are defined as components of an enterprise about which separate discrete information is available for evaluation by the CODM in deciding how to ~~develop~~allocate ~~additional~~resources in ~~applications~~assessing performance. The Company has one reportable segment, which is the business of ~~our~~development ~~cortical~~and ~~strip~~commercialization of products related to comprehensive neuromodulation cEEG and sEEG recording, ~~grid~~monitoring, ablation, and ~~depth~~stimulation ~~electrode~~solutions (“Neuromodulation Products”). NeuroOne is a medical technology ~~with~~company ~~the~~focused ~~benefits~~on wedeveloping ~~hope~~and tocommercializing ~~offer~~Neuromodulation asProducts. ~~compared~~The toCompany recognizes ~~existing~~the ~~technology,~~Neuromodulation orProducts atas one reporting ~~all;~~segment.

●The accounting policies of the ~~results~~Neuromodulation Products segment are the same as those described in the summary of ~~our~~significant ~~development~~accounting ~~and~~policies. ~~distribution~~The ~~relationship~~CODM ~~with~~assesses ~~Zimmer~~performance for the Neuromodulation Products segment based on net loss income, ~~Inc~~which is reported on the statements of operations as net loss. ~~(“Zimmer”);~~The measure of segment assets is reported on the balance sheet as total assets. The Company does not have any intra-entity sales or transfers.

●The weCODM ~~have~~uses ~~been~~cash forecast models in deciding how to invest into the ~~victim~~Neuromodulation ofProducts asegment. ~~cyber~~Such cash forecast models are reviewed to assess the entity-~~related~~wide ~~crime,~~operating results and ~~our~~performance. ~~controls~~Net ~~may~~loss ~~not~~is beused ~~successful~~to monitor budget versus actual results. Monitoring budgeted versus actual results is used in ~~avoiding~~assessing performance ~~future~~of ~~cyber-related~~the ~~crimes;~~segment and in establishing management’s compensation.

~~● the performance, productivity, reliability and regulatory compliance of our third-party manufacturers of our cortical strip, grid electrode and depth electrode and RF ablation technology;~~22

●NeuroOne ~~our~~Medical ~~ability~~Technologies ~~to develop future generations of our cortical strip, grid and depth electrode technology;~~Corporation

●Notes ~~our~~to ~~future~~Condensed ~~development~~Financial ~~priorities;~~Statements

~~● our ability to obtain reimbursement coverage for our cortical strip, grid and depth electrode technology;~~(unaudited)

●The ~~our~~statements ~~expectations~~of ~~about~~operations ~~the~~below ~~willingness~~are inclusive of ~~healthcare~~the ~~providers~~significant toexpense ~~recommend~~categories ~~our~~regularly ~~cortical~~reviewed ~~strip,~~by ~~grid~~the ~~and~~CODM ~~depth~~for ~~electrode~~the three and RFsix ~~ablation~~months ~~technology~~ended toMarch ~~people with epilepsy~~31, ~~Parkinson’s~~2026 ~~disease, dystonia, essential tremors, chronic pain due to failed back surgeries~~ and ~~other related neurological disorders;~~2025:

● our future commercialization, marketing and manufacturing capabilities and strategy;

	Three months ended March 31,						Six months ended March 31,
	2026			2025			2026			2025
Product revenue	$	2,391,185		$	1,386,550		$	5,283,820		$	4,660,717
Cost of product revenue		1,104,568			615,489			2,429,375			1,962,767
Product gross profit		1,286,617			771,061			2,854,445			2,697,950

License revenue		—			—			—			3,000,000

Operating expenses:
General and administrative		1,503,576			1,581,895			2,957,792			3,236,261
Sales		199,136			157,436			373,293			362,352
Marketing		216,659			201,083			473,741			385,255
Development		1,310,388			1,337,781			2,554,705			2,339,967
Quality assurance		157,702			172,882			303,065			342,924
Total operating expenses		3,387,461			3,451,077			6,662,596			6,666,759
Loss from operations		(2,100,844	)		(2,680,016	)		(3,808,151	)		(968,809	)
Fair value change in warrant liability		(8,271	)		390,351			214,469			779,796
Financing costs		—			—			—			(324,738	)
Other income		23,446			19,058			70,123			28,466
Loss before income taxes		(2,085,669	)		(2,270,607	)		(3,523,559	)		(485,285	)
Provision for income taxes		—			—			—			—
Net loss	$	(2,085,669	)	$	(2,270,607	)	$	(3,523,559	)	$	(485,285	)

●NOTE ~~our~~15 ~~ability~~– toSubsequent ~~comply with applicable regulatory requirements;~~Events

●2025 ~~our ability to maintain our intellectual property position;~~Plan

22On April 3, 2026, at the 2026 annual meeting of stockholders, the stockholders of the Company approved the increase in share authorization under the 2025 Plan by 250,000 shares. In addition, an evergreen provision was approved whereby the number of shares available under the 2025 Plan will be increased automatically on January 1 each year between January 1, 2027 and January 1, 2031. The aggregate number of shares of common stock that may be issued pursuant to awards (as defined in the 2025 Plan) by an amount equal to 5% of the fully diluted shares (as defined in the 2025 Plan) as of the last day of the preceding calendar year, provided, however that the Board of Directors may act prior to the effective date of any such annual increase to provide that the increase for such year will be a lesser number of shares of common stock.

~~NeuroOne Medical Technologies Corporation~~23

~~Form~~NeuroOne ~~10-Q~~Medical Technologies Corporation

●Form ~~our expectations regarding international opportunities for commercializing our cortical strip, grid and depth electrode technology under including technology under development;~~10-Q

●Item ~~our~~2. ~~estimates~~Management’s ~~regarding~~Discussion and ~~the~~Analysis ~~size~~ of, ~~and~~Financial ~~future~~Condition ~~growth~~and ~~in,~~Results ~~the~~of ~~market for our technology, including technology under development; and~~Operations

●The following discussion of our ~~estimates~~financial ~~regarding~~condition ~~our~~and ~~future~~results ~~expenses~~of operations should be read in conjunction with the financial statements and ~~needs~~notes included in Part I “Financial Information”, Item I “Financial Statements” of this Quarterly Report on Form 10-Q (the “Report”) and the audited financial statements and related footnotes included in our Annual Report on Form 10-K for ~~additional~~the ~~financing~~year ended September 30, 2025.

Forward-~~looking statements~~Looking are based on management’s current expectations, estimates, forecasts and projections about our business and the industry in which we operate, and management’s beliefs and assumptions are not guarantees of future performance or development and involve known and unknown risks, uncertainties and other factors that are in some cases beyond our control. You should refer to the “Risk Factors” section of our Annual Report on Form 10-K for a discussion of important factors that may cause our actual results to differ materially from those expressed or implied by our forward-looking statements. As a result of these factors, we cannot assure you that the forward-looking statements in this Report will prove to be accurate. Furthermore, if our forward-looking statements prove to be inaccurate, the inaccuracy may be material. In light of the significant uncertainties in these forward-looking statements, you should not regard these statements as a representation or warranty by us or any other person that we will achieve our objectives and plans in any specified time frame, or at all.Statements

~~These~~This Report contains forward-looking statements ~~speak~~that ~~only~~involve assubstantial ofrisks ~~the~~and ~~date~~uncertainties. ofIn ~~this~~some ~~Report.~~cases, ~~Except~~you ascan ~~required~~identify forward-looking statements by ~~law,~~the wewords ~~assume~~“may,” no“might,” ~~obligation~~“will,” to“could,” ~~update~~“would,” or“should,” ~~revise~~“expect,” ~~these~~“intend,” ~~forward-looking~~“plan,” ~~statements~~“objective,” ~~for~~“anticipate,” ~~any~~“believe,” “estimate,” ~~reason~~“predict,” ~~even~~“project,” if“potential,” ~~new~~“target,” ~~information~~“seek,” “contemplate,” ~~becomes~~“continue” ~~available~~and in“ongoing,” or the ~~future.~~negative ~~You~~of ~~should,~~these ~~however~~terms, or other comparable terminology ~~review~~intended to identify statements about the ~~factors~~future. These statements involve known and unknown risks, uncertainties and other factors that may cause our actual results, levels of activity, performance or achievements to be materially different from the information expressed or implied by these forward-looking statements. Although we ~~describe~~believe that we have a reasonable basis for each forward-looking statement contained in ~~the~~this ~~reports~~Report, we ~~will~~caution ~~file~~you ~~from~~that ~~time~~these tostatements ~~time~~are ~~with~~based ~~the~~on ~~Securities~~a combination of facts and factors currently known by us ~~Exchange~~and ~~Commission~~our (expectations of the ~~“SEC”)~~future, ~~after~~about ~~the~~which ~~date~~we ofcannot ~~this~~be ~~Report~~certain. Forward-looking statements include statements about:

~~Overview~~ ● our ability to maintain regulatory clearance of our cortical strip and grid electrode technology, and our OneRF ablation system;

~~We are~~● aour ~~medical~~ability technology company focused on the development and commercialization of thin film electrode technology for continuous electroencephalogram (“cEEG”) and stereoelectrocencephalography (“sEEG”), spinal cord stimulation, brain stimulation, drug delivery and ablation solutions for patients suffering from epilepsy, Parkinson’s disease, dystonia, essential tremors, chronic pain due to ~~failed~~successfully ~~back~~commercialize ~~surgeries and other related neurological disorders. We are also developing the capability to use~~ our ~~sEEG electrode~~ technology to ~~deliver~~in ~~drugs or gene therapy while being able to record brain activity before, during, and after delivery. Additionally, we are investigating~~ the ~~potential~~United ~~applications of our technology associated with artificial intelligence.~~States;

~~We have~~● ~~received 510(k) clearance for three of~~ our ~~devices~~ability ~~from the FDA, including: (i) our Evo cortical electrode technology for recording, monitoring, and stimulating brain tissue for up~~ to 30achieve ~~days,~~or ~~(ii)~~sustain our Evo sEEG electrode technology for temporary (less than 30 days) use with recording, monitoring, and stimulation equipment for the recording, monitoring, and stimulation of electrical signals at the subsurface level of the brain, and (iii) our OneRF ablation system for creation of radiofrequency lesions in nervous tissue for functional neurosurgical procedures. Our other products are still under development. We distribute each of these three devices with Zimmer Biomet.profitability;

~~We have~~● ~~incurred mostly losses since inception. As of June 30, 2025, we had an accumulated deficit of $77.0 million, primarily as a result of expenses incurred in connection with~~ our ~~research~~ability ~~and~~to ~~development,~~raise ~~selling,~~additional ~~general~~capital and ~~administrative~~to ~~expenses~~fund ~~associated with~~ our ~~operations~~ ~~and interest expense, fair value adjustments and loss on extinguishments related to our debt, offset in part by license and product revenues.~~ operations;

~~Prior to~~● ~~FDA clearance of certain of our products, our main sources of cash, cash equivalents and short-term investments were proceeds from~~ the ~~issuances~~availability of ~~notes,~~additional ~~common~~capital ~~stock, warrants and unsecured loans. See “Liquidity and Capital Resources—Capital Resources” below. While we have begun to generate revenue from the sale of products based~~ on ~~our~~acceptable ~~cEEG~~terms ~~and~~or ~~sEEG~~at ~~technology,~~all ~~and~~as ~~OneRF~~or ~~System, and~~when through milestone and other payments from our current collaboration and distribution arrangement with Zimmer, we expect to continue to incur significant expenses and may incur increasing operating and net losses for the foreseeable future until we generate a higher level of revenue from commercial sales.needed;

23● the clinical utility of our cortical strip, grid and depth electrode, RF ablation system, and technology under development;

~~NeuroOne~~● ~~Medical~~our ~~Technologies~~ability ~~Corporation~~to develop additional applications of our cortical strip, grid and depth electrode technology with the benefits we hope to offer as compared to existing technology, or at all;

~~Form~~● ~~10-Q~~the results of our development and distribution relationship with Zimmer, Inc. (“Zimmer”);

~~Recent Developments~~● we have been the victim of a cyber-related crime, and our controls may not be successful in avoiding future cyber-related crimes;

~~Corporate Updates~~● the performance, productivity, reliability and regulatory compliance of our third-party manufacturers of our cortical strip, grid electrode and depth electrode and RF ablation technology;

~~510(k) Submission~~● ~~for~~our ~~Trigeminal~~ability ~~Facial~~to ~~Pain~~develop future generations of our cortical strip, grid and depth electrode technology;

~~On April~~● ~~22, 2025, we filed a 510(k) submission to the FDA for~~ our ~~OneRF®~~future ~~Trigeminal~~development ~~Nerve Ablation System to treat facial pain.~~ priorities;

~~April 2025~~● ~~Financing~~our ability to obtain reimbursement coverage for our cortical strip, grid and depth electrode technology;

On April 4, 2025, we entered into an Underwriting Agreement (the “Underwriting Agreement”) with Ladenburg Thalmann & Co. Inc. as underwriter (the “Underwriter”), relating to the issuance and sale of 16,000,000 shares of the Company’s common stock, at a price to the public of $0.50 per share (the “April 2025 Financing”). In addition, under the terms of the Underwriting Agreement, we granted the Underwriter an option, exercisable for 45 days, to purchase up to an additional 2,400,000 shares of common stock on the same terms as the offering, which was exercised in full. Net proceeds to the Company were approximately $8.2 million.24

~~Zimmer Amended~~NeuroOne ~~and~~Medical ~~Restated~~Technologies ~~Distribution Agreement~~Corporation

~~On October~~Form 25, 2024, we entered into the Zimmer Amended and Restated Distribution Agreement (the “Amendment”) with Zimmer, Inc. (“Zimmer”) pursuant to which we granted Zimmer the exclusive right and license to distribute our OneRF Ablation System for an upfront payment of $3.0 million, with eligibility for an additional $1.0 million payment from Zimmer upon achievement of certain specified net sales milestones.10-Q

~~We previously~~● ~~entered~~our ~~into~~expectations anabout ~~Exclusive Development and Distribution Agreement dated July 20, 2020 with Zimmer, related to~~ the ~~sEEG~~willingness ~~and Strip/Grid Product Systems, which was subsequently amended pursuant to the terms and conditions~~ of ahealthcare ~~letter~~providers ~~agreement dated January 6, 2021, a Second Amendment~~ to ~~Exclusive~~recommend ~~Development~~our ~~and~~cortical ~~Distribution Agreement dated June 28~~strip, ~~2022,~~grid and adepth ~~Third~~electrode ~~Amendment to Exclusive Development~~ and ~~Distribution~~RF ~~Agreement~~ablation ~~dated~~technology ~~August 2, 2022 (collectively, the “EDDA”).The EDDAs executed prior~~ to ~~the~~people ~~Amendment granted~~with ~~Zimmer exclusive global rights to distribute the Strip/Grid Products and the Electrode Cable Assembly Products. Additionally~~epilepsy, we ~~granted~~Parkinson’s ~~Zimmer the exclusive right and license to distribute certain sEEG Products developed by the Company and together with the Strip/Grid Products and Electrode Cable Assembly Products~~disease, ~~the “Products”. In addition~~dystonia, ~~under~~essential ~~the prior EDDAs~~tremors, wechronic ~~agreed to~~back ~~collaborate~~pain ~~with~~and ~~respect~~other torelated ~~development~~neurological ~~activities through a joint development committee composed of an equal number of representatives of Zimmer and the Company.~~disorders;

~~Under the~~● ~~Amendment,~~our ~~Zimmer~~future ~~paid us $3.0 million for an exclusive RF Distribution License (the “RF Distribution License” and “License”) for~~ commercialization ~~of its OneRF™ product. In addition~~, wemarketing ~~are~~and ~~eligible~~manufacturing tocapabilities ~~receive~~and ~~a future milestone payment of $1.0 million upon reaching a one-time sales volume threshold.~~strategy;

~~The revised~~● ~~term~~our ~~under~~ability ~~the~~to ~~Amendment~~comply (the “Term”) began on the Effective Date and will remain in effect until October 31, 2034. Upon the expiration of the Term, it may be renewed upon the mutual written of the Parties. The Amended and Restated Exclusive Development and Distribution Agreement may be terminated before the expiration of the Term only by the Parties in accordance with ~~certain~~applicable ~~terms~~regulatory under the Amendment. In addition, the license rights granted to Zimmer under this Amendment shall be exclusive (i) from the Original Effective Date until September 30, 2032 for the sEEG Products and Strip/Grid Products (the “sEEG and Strip/Grid Product Term”)requirements; ~~and (ii) from the Effective Date until October 31, 2034 for the OneRF™ Product System (the “RF Term”).~~

~~Global Economic~~● ~~Conditions~~our ability to maintain our intellectual property position;

~~Generally, worldwide~~● ~~economic~~our ~~conditions~~expectations ~~remain~~regarding ~~uncertain,~~international ~~particularly~~opportunities ~~due~~for tocommercializing the conflicts between Russia and Ukraine and in the Middle East, disruptions in the banking system and financial markets, and increased inflation. The general economic and capital market conditions both in the U.S. and worldwide, have been volatile in the past and at times have adversely affected our ~~access~~cortical to capital and increased the cost of capital. The capital and credit markets may not be available to support future capital raising activity on favorable terms or at all. If economic conditions continue to declinestrip, ~~our~~grid ~~future cost of equity or debt capital~~ and ~~access~~depth toelectrode ~~the~~technology ~~capital~~under ~~markets~~including ~~could be~~technology ~~adversely~~under ~~affected. We do not currently anticipate any meaningful impact from current or proposed tariffs on imported goods.~~development;

24● our estimates regarding the size of, and future growth in, the market for our technology, including technology under development; and

~~NeuroOne~~● ~~Medical~~our ~~Technologies~~estimates ~~Corporation~~regarding our future expenses and needs for additional financing.

Forward-looking statements are based on management’s current expectations, estimates, forecasts and projections about our business and the industry in which we operate, and management’s beliefs and assumptions are not guarantees of future performance or development and involve known and unknown risks, uncertainties and other factors that are in some cases beyond our control. You should refer to the “Risk Factors” section of our Annual Report on Form 10-QK for a discussion of important factors that may cause our actual results to differ materially from those expressed or implied by our forward-looking statements. As a result of these factors, we cannot assure you that the forward-looking statements in this Report will prove to be accurate. Furthermore, if our forward-looking statements prove to be inaccurate, the inaccuracy may be material. In light of the significant uncertainties in these forward-looking statements, you should not regard these statements as a representation or warranty by us or any other person that we will achieve our objectives and plans in any specified time frame, or at all.

~~Our~~These forward-looking ~~operating~~statements ~~results~~speak ~~could~~only beas ~~materially~~of ~~impacted~~the bydate ~~changes~~of inthis ~~the~~Report. ~~overall~~Except ~~macroeconomic~~as ~~environment~~required ~~and~~by ~~other~~law, ~~economic~~we ~~factors.~~assume ~~Changes in~~no ~~economic~~obligation ~~conditions,~~to ~~supply~~update ~~chain~~or ~~constraints,~~revise ~~logistics~~these ~~challenges,~~forward-looking statements ~~labor~~for ~~shortages~~any reason, ~~increased~~even ~~inflation,~~if ~~the~~new ~~conflicts~~information inbecomes ~~Ukraine and~~available in the ~~Middle~~future. ~~East~~You should, ~~disruptions~~however, inreview the ~~banking~~factors ~~system~~ and ~~financial markets,~~ risks and ~~steps~~other ~~taken~~information bywe ~~governments~~describe ~~and~~in ~~central~~the ~~banks,~~reports ~~have led~~we towill ~~higher~~file ~~inflation,~~from ~~which~~time ~~has led~~ to antime ~~increase~~with inthe ~~costs~~Securities and ~~has~~Exchange ~~caused~~Commission ~~changes~~(the in“SEC”) after ~~fiscal~~the ~~and~~date ~~monetary~~of ~~policy,~~this ~~including increased interest rates~~Report.

~~Financial~~ Overview

~~Product~~We are a medical technology ~~Revenue~~company focused on (i) diagnostic, ablation and deep brain stimulation technology for brain related conditions such as epilepsy and Parkinson’s disease; (ii) ablation and stimulation for pain management throughout the body; and (iii) drug delivery including diagnostic and stimulation capabilities.

~~Our~~We are developing and ~~product~~commercializing ~~revenue~~thin ~~was~~film ~~derived~~electrode ~~from~~technology ~~the~~for ~~sale~~continuous ofelectroencephalogram ~~our~~(“cEEG”) ~~Strip/Grid~~and ~~Products~~stereoelectrocencephalography (“sEEG”), ~~the~~spinal ~~sEEG~~cord ~~Products~~stimulation, ~~and~~brain ~~the~~stimulation, ~~Electrode~~drug ~~Cable~~delivery ~~Assembly~~and ~~Products~~ablation ~~based on~~solutions ~~Evo~~for ~~cortical~~patients ~~electrode~~suffering ~~technology~~from ~~and~~epilepsy, trigeminal ~~the~~neuralgia, ~~OneRF~~Parkinson’s ~~Products~~disease, ~~which~~dystonia, ~~are~~essential ~~products~~tremors, ~~based~~chronic onback ~~our~~pain ~~OneRF~~and ~~Ablation~~other ~~System~~pain-related neurological disorders. The WeCompany ~~anticipate~~is ~~that we~~also ~~will~~developing ~~generate~~the ~~additional~~capability ~~revenue~~to ~~from~~use ~~the~~its ~~sale~~sEEG ofelectrode ~~products~~technology ~~based~~to ondeliver ~~Evo~~drugs ~~cortical~~or ~~electrode~~gene ~~technology~~therapy ~~and~~while ~~our~~being ~~OneRF~~able to ~~Ablation~~record ~~System~~activity before, during, and after delivery.

We have received ~~FDA~~ 510(k) clearance for four of our ~~cortical~~devices ~~electrode~~from ~~for~~the ~~temporary~~Food ~~(less~~and ~~than~~Drug 30Administration ~~days~~(“FDA”), including: (i) our Evo cortical electrode technology for recording, monitoring, and ~~stimulation on~~stimulating ~~the~~brain ~~surface~~tissue offor ~~the~~up ~~brain~~to 30 days (“Evo Cortical”), (ii) our Evo sEEG electrode technology for temporary (less than 30 days) use with recording, monitoring, and stimulation equipment for the recording, monitoring, and stimulation of electrical signals at the subsurface level of the brain (“Evo sEEG”), ~~and~~ (iii) our OneRF ~~Ablation~~ablation ~~System~~ system for creation of radiofrequency lesions in nervous tissue for functional neurosurgical ~~procedure~~procedures (“OneRF Ablation System”), (iv) our OneRF TN ablation system for use in procedures to create radiofrequency (RF) lesions for the treatment of pain, or for lesioning nerve tissue for functional neurosurgical procedures (“OneRF TN Ablation System”). We have a distribution agreement with Zimmer, Inc. (“Zimmer”) providing Zimmer with a license to commercialize and distribute the Evo Cortical, Evo sEEG, and OneRF Ablation System in the brain. We initiated a limited market release of the OneRF TN Ablation System in December 2025 and completed the limited market release in March 2026. The Company’s other products and indications are still under development.

~~Product Gross Profit~~25

~~Product gross~~NeuroOne ~~profit~~Medical ~~represents~~Technologies our product revenue less our cost of product revenue. Our cost of product revenue consists of the manufacturing and materials costs incurred by our third-party contract manufacturers in connection with our Strip/Grid Products, sEEG Products, OneRF Products and outside supplier materials costs of producing the Electrode Cable Assembly Products. In addition, the cost of product revenue includes royalty fees incurred in connection with our license agreements as well as valuation adjustments for excess or obsolete inventory.Corporation

~~License Revenue~~Form 10-Q

~~The Company determined~~We ~~that~~have ~~the~~largely ~~RF Distribution License granted under the Zimmer Amended and Restated Distribution Agreement represented~~incurred ~~functional~~losses ~~intellectual~~since ~~property~~inception. ~~given~~As ~~Zimmer’s~~of ~~access~~March to31, ~~the~~2026, ~~underlying~~we ~~intellectual~~had ~~property~~accumulated ~~associated~~deficit ~~with~~of ~~the OneRF Product~~$82. As1 ~~such~~million, ~~the~~primarily ~~revenue~~as ~~related~~a toresult ~~the~~of ~~license~~expenses ~~was recognized at the point in time in which the license/know-how was delivered to Zimmer~~incurred ~~which occurred~~ in ~~October~~connection ~~2024. Revenue~~with ~~recognized~~our ~~under~~research ~~the~~and ~~Amendment during the nine months ending June 30~~development, ~~2025 was $3.0 million. For further discussion about the determination of license revenue~~selling, ~~product~~general ~~revenue~~ and ~~cost~~administrative ofexpenses ~~product~~associated ~~revenue,~~with ~~and~~our ~~for~~operations ~~a discussion of milestones~~ and ~~royalty payments under the Amended and Restated Zimmer Distribution Agreement~~interest expense, ~~see~~fair ~~“—Liquidity~~value ~~and~~adjustments ~~Capital Resources—Liquidity Outlook” below~~ and ~~see~~loss ~~“Note~~on 7extinguishments —related ~~Zimmer~~to ~~Distribution Agreement and Other Product Revenue” included in~~ our ~~condensed~~debt, ~~financial~~offset ~~statements included~~ in ~~“Part~~part 1,by ~~Item~~license 1and –product ~~Financial Statements” in this Report~~revenues.

~~Selling~~Prior to FDA clearance of certain of our products, our main sources of cash, cash equivalents and short-term investments were proceeds from the issuances of ~~General~~notes, common stock, warrants and ~~Administrative~~unsecured loans. See “Liquidity and Capital Resources—Capital Resources” below. While we have begun to generate revenue from the sale of our Evo Cortical, Evo sEEG, OneRF Ablation System, and OneRF TN Ablation System, and through milestone and other payments from our current collaboration and distribution arrangement with Zimmer, we expect to continue to incur significant expenses and may incur increasing operating and net losses for the foreseeable future until we generate a higher level of revenue from commercial sales.

~~Selling, general~~We ~~and~~may ~~administrative~~be ~~expenses~~unable ~~consist~~to raise ~~primarily~~additional offunds ~~personnel-related~~when ~~costs~~needed ~~including~~on ~~stock-based~~favorable ~~compensation~~terms ~~for~~or ~~personnel~~at ~~in functions not directly associated with research and development activities~~all. ~~Other~~Our ~~significant~~failure ~~costs include legal and litigation costs relating~~ to ~~corporate~~raise ~~matters,~~such ~~intellectual~~capital ~~property~~as ~~costs, professional fees for consultants assisting with financial~~ and ~~administrative matters,~~when ~~and~~needed ~~sales~~would ~~and~~have ~~marketing~~a ~~in connection with the commercial sale of cEEG strip/grid, sEEG depth electrode, OneRF ablation system~~negative ~~and~~impact ~~electrode~~on ~~cable assembly products. We anticipate that~~ our ~~selling,~~financial ~~general~~condition and ~~administrative~~our ~~expenses~~ability ~~will increase in the future~~ to ~~support~~develop ~~our continued research~~ and ~~development~~commercialize ~~activities, further commercialization of~~ our cortical strip, ~~and~~ grid ~~technology,~~electrode ~~ablation system~~ and ~~our~~ depth electrode technology, and ~~the~~future ~~increased~~products ~~costs~~and ofour ~~operating~~ability ~~as a public company. These increases will include increased costs related~~ to ~~the~~pursue ~~hiring~~our ofbusiness ~~additional~~strategy. ~~personnel~~See ~~and~~“Liquidity ~~fees for legal~~ and ~~professional~~Capital ~~services, as well as other public company-related~~Resources—Liquidity ~~costs~~Outlook” below.

25Recent Developments

~~NeuroOne~~Corporate ~~Medical Technologies Corporation~~Updates

~~Form~~Reverse ~~10-Q~~Stock Split

~~Research~~On April 14, 2026, we filed an amendment to our Amended and ~~Development~~Restated Certificate of Incorporation, as amended and/or restated from time to time, to effectuate a reverse stock split of our issued and outstanding shares of common stock, par value $0.001 per share, which became effective on April 15, 2026 at 5:00 p.m. Eastern Time (the “Reverse Stock Split”). Trading of the common stock on The Nasdaq Capital Market commenced on a split-adjusted basis at market open on April 16, 2026. All amounts in the condensed financial statements have been retroactively adjusted to reflect the Reverse Stock Split.

~~Research~~As a result of the Reverse ~~and~~Stock ~~development~~Split, ~~expenses~~every ~~consist~~6 shares of ~~expenses~~our ~~incurred~~common instock ~~performing~~issued ~~research~~or outstanding was automatically reclassified into one validly issued, fully-paid and ~~development~~non-assessable ~~activities~~new inshare ~~developing~~of ~~our~~common ~~technology.~~stock, subject to the treatment of fractional shares as described below, without any action on ~~Research~~the ~~and~~part ~~development~~of ~~expenses~~the ~~include~~holders. ~~compensation~~Proportional ~~and~~adjustments ~~benefits~~were ~~for~~made ~~research~~to ~~and~~the ~~development~~number ~~employees~~of ~~including~~shares of common stock~~-based~~ ~~compensation,~~awarded and available for issuance ~~overhead~~under ~~expenses,~~our ~~laboratory~~equity ~~supplies~~incentive plans, ~~clinical~~as ~~trial~~well as the exercise price and ~~related~~the ~~clinical~~number ~~manufacturing~~of ~~expenses,~~shares ~~costs~~issuable ~~related~~upon tothe ~~regulatory~~exercise ~~operations,~~or conversion of ~~fees~~our ~~paid~~outstanding tostock ~~consultants~~options and other ~~outside~~equity ~~expenses~~securities under our equity incentive plans. ~~Research~~All ~~and~~outstanding ~~development~~warrants ~~costs~~were ~~are~~also ~~expensed~~adjusted in asaccordance ~~incurred~~with ~~and~~their ~~costs~~terms. ~~incurred~~The byshares ~~third~~of common stock outstanding following the Reverse Stock Split remain fully paid and non-assessable. ~~parties~~The ~~are~~Reverse ~~expensed~~Stock asSplit did not affect the ~~contracted~~number ~~work~~of isauthorized ~~performed~~shares of common stock or the par value per share of the common stock.

~~Fair~~No fractional shares ~~Value~~were ~~Change~~issued in ~~Warrant~~connection ~~Liability~~with the Reverse Stock Split. Stockholders who would otherwise be entitled to receive fractional shares as a result of the Reverse Stock Split were automatically entitled to receive a cash payment equal to the market value of the fractional share. The Reverse Stock Split affected all stockholders uniformly and did not alter any stockholder’s relative interest in our equity securities, except for any adjustments for fractional shares.

~~The net change in the fair value line item is attributed to the warrant liability while outstanding.~~26

~~Financing Costs~~NeuroOne Medical Technologies Corporation

~~Financing costs~~Form ~~consists of the amortization of the deferred issuance costs and other lending and issuance costs in connection with the debt facility and at~~10-~~the market offering facility (both described below).~~Q

~~Other Income~~2025 Equity Incentive Plan

~~Other~~On April 3, 2026, at the 2026 ~~income~~annual ~~primarily~~meeting ~~consists~~of stockholders, our stockholders approved the increase in share authorization under the 2025 Equity Incentive Plan (the “2025 Plan”) by 250,000 shares. In addition, an evergreen provision was approved whereby the number of ~~interest~~shares ~~income~~available ~~related~~under the to2025 ~~our~~Plan ~~cash~~will be increased automatically on January 1 each year between January 1, 2027 and ~~cash~~January ~~equivalents~~1, 2031. The aggregate number of shares of common stock that may be issued pursuant to awards (as defined in the 2025 Plan) by an amount equal to 5% of the fully diluted shares (as defined in the 2025 Plan) as of the last day of the preceding calendar year, provided, however that our Board of Directors may act prior to the effective date of any such annual increase to provide that the increase for such year will be a lesser number of shares of common stock.

~~Results of~~March ~~Operations~~2026 Private Placement

~~Comparison~~On March 1, 2026, we ofentered into a securities purchase agreement (the ~~Three~~“March ~~Months~~2026 ~~Ended~~Private ~~June~~Placement”) 30with a newly appointed officer of the Company, David ~~2025~~Wambeke, to issue and ~~2024~~sell 166,666 shares of our common stock at a price per share equal to $4.02242. The March 2026 Private Placement closed on March 2, 2026 upon which we received gross proceeds in the amount of $670,400.

~~The~~Trigeminal Limited ~~following~~Market ~~table sets forth the results of operations for the three months ended June 30, 2025 and 2024, respectively.~~ Release

	For the Three Months Ended June 30, (unaudited)
	2025			2024			Period to Period Change
Product revenue	$	1,696,050		$	825,776		$	870,274
Cost of product revenue		781,215			543,904			237,311
Product gross profit		914,835			281,872			632,963
Operating expenses:
Selling, general and administrative		1,618,950			1,881,099			(262,149	)
Research and development		1,182,485			1,194,674			(12,189	)
Total operating expenses		2,801,435			3,075,773			(274,338	)
Loss from operations		(1,886,600	)		(2,793,901	)		907,301
Fair value change in warrant liability		319,625			—			319,625
Financing costs		(9,325	)		—			(9,325	)
Other income		75,432			26,376			49,056
Loss before income taxes		(1,500,868	)		(2,767,525	)		1,266,657
Provision for income taxes		—			—			—
Net loss	$	(1,500,868	)	$	(2,767,525	)	$	1,266,657

We initiated a limited market release of the OneRF TN Ablation System in December 2025 and completed the limited market release in March 2026. The Company is currently evaluating the distribution options for the OneRF TN Ablation System.

26Nasdaq Minimum Bid Price Notification

~~NeuroOne~~On ~~Medical~~May ~~Technologies~~6, ~~Corporation~~2025, we received a letter from the Listing Qualifications Department of Nasdaq Stock Market (“Nasdaq”) notifying that because the closing bid price of our common stock was below $1.00 per share for the prior 30 consecutive business days, we are not in compliance with the minimum bid price requirement for continued listing on The Nasdaq Capital Market, as set forth in Nasdaq Marketplace Rule 5550(a)(2) (the “Minimum Bid Price Requirement”). In accordance with Nasdaq Marketplace Rule 5810(c)(3)(A), we had a period of 180 calendar days, or until November 3, 2025, to regain compliance with the Minimum Bid Price Requirement.

~~Form~~On 10November 4, 2025, we received a letter from Nasdaq notifying us that we have been granted a 180-Qday extension, until May 4, 2026, to regain compliance with the Minimum Bid Price Requirement.

~~Product~~On April 30, 2026, we ~~Revenue~~received a letter from Nasdaq notifying us that we have regained compliance with the Minimum Bid Price Requirement as a result of the closing bid price of the Company’s common stock being at $1.00 per share or greater for the prior 10 consecutive business days. Accordingly, the letter indicated we are in compliance with the Minimum Bid Price Requirement and ~~Product~~the ~~Gross~~matter ~~Profit~~is closed.

~~Product revenue~~Global ~~was~~Economic $1.7 million during the three months ended June 30, 2025 with a gross profit and gross profit percentage of $0.9 million and 53.9%, respectively. Product revenue was $0.8 million during the three months ended June 30, 2024 with a gross margin and gross profit percentage of $0.3 million and 34.1%, respectively. The increase in gross profit percentage during the current period was largely due to the higher margin OneRF Products being sold in the current period under the Amendment with Zimmer. Product revenue consisted largely of OneRF Products during the three months ended June 30, 2025 while revenue consisted of Strip/Grid Products, sEEG Products, Electrode Cable Assembly Products, and OneRF Product sales during the comparable prior year period. The cost of product revenue consisted of the manufacturing and materials costs incurred by our third-party contract manufacturers in connection with our Strip/Grid Products, sEEG Products and OneRF Products, and outside supplier materials costs in connection with the Electrode Cable Assembly. In addition, cost of product revenue included royalty fees incurred of approximately $38,000 in connection with our license agreements during each of the three months ended June 30, 2025 and 2024.Conditions

~~Selling~~Generally, worldwide economic conditions remain ~~General~~uncertain, particularly due to the conflicts between Russia and ~~Administrative~~Ukraine ~~Expenses~~and in the Middle East, disruptions in the banking system and financial markets, and increased inflation. The general economic and capital market conditions both in the U.S. and worldwide, have been volatile in the past and at times have adversely affected our access to capital and increased the cost of capital. The capital and credit markets may not be available to support future capital raising activity on favorable terms or at all. If economic conditions continue to decline, our future cost of equity or debt capital and access to the capital markets could be adversely affected. We have experienced minor price increases from our suppliers related to tariffs on imported goods, and may experience additional price increases. We expect to submit a request for a tariff refund for minor tariffs paid by the Company to the U.S. government under the International Emergency Economic Powers Act, but the timing and amount of cash receipt pursuant to such future submission remains uncertain. We will continue to monitor guidance issued regarding the refund process.

Selling, general and administrative expenses were $1.6 million and $1.9 million during the three months ended June 30, 2025 and 2024, respectively. The $0.3 million expense decrease in the current quarter over the comparable prior year quarter was largely attributed to lower legal costs of $0.1 million and lower investor relations and other public company costs of $0.2 million. Selling, general and administrative expenses included $0.2 million and $0.3 million of stock-based compensation during the three months ended June 30, 2025 and 2024, respectively. 27

~~Research and~~NeuroOne ~~Development~~Medical ~~Expenses~~Technologies Corporation

~~Research and~~Form development expenses were $1.2 million for each of the three months ended June 30, 2025 and 2024. There was a negligible decease in the current period over the prior year period which was attributed largely to the timing of product development activities in the current quarter when compared to the comparable prior year quarter. Research and development expenses primarily included salary10-related expenses and costs related to consulting services, materials and supplies associated with the development of sEEG Products and to a much lesser extent Strip/Grid Products. Research and development expenses included $70,000 and $68,000 of stock-based compensation during the three months ended June 30, 2025 and 2024, respectively.Q

~~Fair~~Our operating results ~~Value~~could ~~Change~~be materially impacted by changes in ~~Warrant~~the ~~Liability~~overall macroeconomic environment and other economic factors. Changes in economic conditions, supply chain constraints, logistics challenges, labor shortages, increased inflation, the conflicts in Ukraine and the Middle East, disruptions in the banking system and financial markets, and steps taken by governments and central banks, have led to higher inflation, which has led to an increase in costs and has caused changes in fiscal and monetary policy, including increased interest rates.

~~The net~~Financial change in fair value of the warrant liability during the three months ended June 30, 2025 was $0.3 million benefit. The change was due primarily to fluctuations in our common stock fair value. There were no warrants outstanding during the three months ended June 30, 2024 that were measured on a fair value basis.Overview

~~Financing Costs~~ Product Revenue

~~Financing costs~~Our ~~during~~product ~~the~~revenue was ~~three~~derived ~~months~~from ~~ended~~the ~~June~~sale ~~30, 2025 consisted~~ of ~~the~~our ~~costs~~Evo ~~associated~~Cortical, ~~with~~Evo ~~the~~sEEG, ~~at-the~~and ~~market~~OneRF ~~offering~~Ablation ~~facility~~Systems ~~(described further~~when ~~below)~~they ~~in the amount of $9~~occur,~~000.~~ Wewhich ~~did~~have ~~not~~each ~~incur~~received ~~any~~FDA ~~financing costs during the three months ended June 30, 2024~~510(k) clearance.

~~Other~~Product Gross ~~Income~~Profit

~~Other~~Product gross profit ~~income~~represents ~~during~~our ~~the~~product ~~three~~revenue ~~months~~less ~~ended~~our ~~June~~cost ~~30,~~of ~~2025~~product ~~and~~revenue. ~~2024~~Our ~~related~~cost toof ~~interest~~product ~~income~~revenue onconsists ~~our~~of ~~cash~~the manufacturing and ~~cash~~materials costs ~~equivalents~~incurred by our third-party contract manufacturers in ~~the~~connection ~~amount of~~with ~~$75~~our Evo Cortical,~~000~~ Evo sEEG, and ~~$26~~OneRF Ablation Systems,~~000~~ and outside supplier costs of producing our electrode cable assembly products. In addition, ~~respectively~~the cost of product revenue includes royalty fees incurred in connection with our license agreements as well as valuation adjustments for excess or obsolete inventory.

27License Revenue

~~NeuroOne~~The ~~Medical~~Company determined that ~~Technologies~~the ~~Corporation~~RF Distribution License granted under the Zimmer Amended and Restated Distribution Agreement represented functional intellectual property given Zimmer’s access to the underlying intellectual property associated with the OneRF Ablation System in the brain. As such, the revenue related to the license was recognized at the point in time in which the license/know-how was delivered to Zimmer which occurred in October 2024. Revenue recognized under the Amendment during the three months ended year ended December 31, 2024 was $3.0 million. For further discussion about the determination of license revenue, product revenue and cost of product revenue, and for a discussion of milestones and royalty payments under the Zimmer Amended and Restated Distribution Agreement, see “—Liquidity and Capital Resources—Liquidity Outlook” below and see “Note 7 — Zimmer Distribution Agreement and Other Product Revenue” to our condensed financial statements included in “Part 1, Item 1 – Financial Statements” of this Report.

~~Form~~Selling, ~~10-Q~~General and Administrative

~~Comparison~~Selling, general and administrative expenses consist primarily of personnel-related costs including stock-based compensation for personnel in functions not directly associated with research and development activities. Other significant costs include legal and litigation costs relating to corporate matters, intellectual property costs, professional fees for consultants assisting with financial and administrative matters, and sales and marketing in connection with the ~~Nine~~commercial ~~Months~~sale ~~Ended~~of ~~June~~our 30Evo Cortical, ~~2025~~Evo sEEG, and ~~2024~~OneRF Ablation Systems. We anticipate that our selling, general and administrative expenses will increase in the future to support our continued research and development activities, further commercialization of our technology, and the increased costs of operating as a public company.

~~The following~~Research ~~table sets forth the results of operations for the nine months ended June 30, 2025~~ and ~~2024, respectively.~~Development

	For the Nine Months Ended June 30, (unaudited)
	2025			2024			Period to Period Change
Product revenue	$	6,356,767		$	3,180,719		$	3,176,048
Cost of product revenue		2,743,982			2,242,114			501,868
Product gross profit		3,612,785			938,605			2,674,180
License revenue		3,000,000			—			3,000,000
Operating expenses:
Selling, general and administrative		5,602,818			6,057,520			(454,702	)
Research and development		3,865,376			3,951,559			(86,183	)
Total operating expenses		9,468,194			10,009,079			(540,885	)
Loss from operations		(2,855,409	)		(9,070,474	)		6,215,065
Fair value change in warrant liability		1,099,421			—			1,099,421
Financing costs		(334,063	)		—			(334,063	)
Other income		103,898			102,959			939
Loss before income taxes		(1,986,153	)		(8,967,515	)		6,981,362
Provision for income taxes		—			—			—
Net loss	$	(1,986,153	)	$	(8,967,515	)	$	6,981,362

Research and development expenses consist of expenses incurred in performing research and development activities in developing our technology. Research and development expenses include compensation and benefits for research and development employees including stock-based compensation, overhead expenses, laboratory supplies, clinical trial and related clinical manufacturing expenses, costs related to regulatory operations, fees paid to consultants and other outside expenses. Research and development costs are expensed as incurred and costs incurred by third parties are expensed as the contracted work is performed.

~~Product Revenue and Product Gross Profit~~28

~~Product revenue~~NeuroOne ~~was~~Medical ~~$6.4~~Technologies million during the nine months ended June 30, 2025 with a gross profit and gross profit percentage of $3.6 million and 56.8%, respectively. Product revenue was $3.2 million during the nine months ended June 30, 2024 with a gross profit and gross profit percentage of $0.9 million and 29.5%, respectively. The increase in gross profit percentage during the current period was largely due to higher margin OneRF Products being sold in the current period under the Amendment with Zimmer. Product revenue consisted largely of OneRF Products during the nine months ended June 30, 2025 while revenue consisted of Strip/Grid Products, sEEG Products, Electrode Cable Assembly Products, and OneRF Product sales during the comparable prior year period. The cost of product revenue consisted of the manufacturing and materials costs incurred by our third-party contract manufacturers in connection with our Strip/Grid Products, sEEG Products and OneRF Products, and outside supplier materials costs in connection with the Electrode Cable Assembly Products. In addition, cost of product revenue included royalty fees incurred of approximately $113,000 and $117,000 in connection with our license agreements during the nine months ended June 30, 2025 and 2024, respectively.Corporation

~~License Revenue~~Form 10-Q

~~License revenue~~Fair ~~was~~Value ~~$3.0 million for the nine months ended June 30, 2025. License revenue during the current period related to the distribution~~Change ~~license granted to Zimmer for the OneRF Product~~ in ~~October~~Warrant ~~2024. No license revenue was generated from the Amended and Restated Zimmer Development Agreement during the nine months ended June 30, 2024.~~ Liability

28The net change in the fair value line item is attributed to the warrant liability while outstanding.

~~NeuroOne~~Financing ~~Medical Technologies Corporation~~Costs

~~Form~~Financing ~~10-Q~~costs consists of the amortization of the deferred issuance costs and other lending and issuance costs in connection with the debt facility described further below.

~~Selling, General~~Other ~~and Administrative Expenses~~Income

~~Selling, general~~Other ~~and~~income administrative expenses were $5.6 million for the nine months ended June 30, 2025, compared to $6.1 million for the nine months ended June 30, 2024. The $0.5 million decrease in the current nine months ended June 30, 2025 compared to the comparable prior year period was primarily ~~due to lower legal costs of $0.3 million, lower investor relations and other public company costs of $0.5 million,~~ ~~offset~~consists ~~by higher professional fees~~ of ~~$0.3~~interest ~~million~~income onrelated ato ~~net~~our ~~basis.~~cash ~~Selling, general~~ and ~~administrative~~cash ~~expenses included $0.7 million and $0.8 million of stock-based compensation during the nine months ended June 30~~equivalents, ~~2025 and 2024, respectively.~~

~~Research and~~Results ~~Development~~of ~~Expenses~~Operations

~~Research and~~Comparison ~~development~~of ~~expenses were $3.9 million for~~ the ~~nine~~Three ~~months~~Months ~~ended~~Ended ~~June 30, 2025, compared to $4.0 million for the nine months ended~~March ~~June 30~~31, ~~2024.~~2026 ~~The $0.1 million decrease period over period was attributed to the timing~~ and ~~an overall reduction in OneRF Product development activities during the current nine months ended June 30,~~ 2025 when compared to the comparable prior year period. Research and development primarily included salary-related expenses and costs related to consulting services, materials and supplies associated with the development of sEEG Products and to a much lesser extent Strip/Grid Products. Research and development expenses included $0.2 million of stock-based compensation during each of the nine months ended June 30, 2025 and 2024.

~~Fair~~The following table sets forth the results of ~~Value~~operations ~~Change~~for inthe ~~Warrant~~three ~~Liability~~months ended March 31, 2026 and 2025, respectively.

The net change in fair value of the warrant liability during the nine months ended June 30, 2025 was $1.1 million. The change was due primarily to fluctuations in our common stock fair value. There were no warrants outstanding during the nine months ended June 30, 2024 that were measured on a fair value basis.

	For the Three Months Ended March 31, (unaudited)
	2026			2025			Period to Period Change
Product revenue	$	2,391,185		$	1,386,550		$	1,004,635
Cost of product revenue		1,104,568			615,489			489,079
Product gross profit		1,286,617			771,061			515,556

Operating expenses:
Selling, general and administrative		1,919,371			1,940,414			(21,043	)
Research and development		1,468,090			1,510,663			(42,573	)
Total operating expenses		3,387,461			3,451,077			(63,616	)
Loss from operations		(2,100,844	)		(2,680,016	)		579,172
Fair value change in warrant liability		(8,271	)		390,351			(398,622	)
Other income		23,446			19,058			4,388
Loss before income taxes		(2,085,669	)		(2,270,607	)		184,938
Provision for income taxes		—			—			—
Net loss	$	(2,085,669	)	$	(2,270,607	)	$	184,938

~~Financing Costs~~ Product Revenue and Product Gross Profit

~~Financing costs~~Product revenue was $2.4 million during the ~~nine~~ three months ended ~~June~~March 3031, ~~2025~~2026 ~~consisted~~with ofa ~~the~~gross ~~amortization~~profit and gross profit percentage of ~~the~~$1.3 ~~deferred~~million ~~issuance~~and ~~costs~~53.8%, ~~associated~~respectively. ~~with~~Product revenue was $1.4 million during the ~~debt facility~~three ~~(described~~months ~~further~~ended ~~below)~~March in31, ~~the~~2025 ~~amount~~with a gross profit and gross profit percentage of $0.28 million and ~~additional~~55.6%, respectively. ~~legal~~The ~~and~~decrease ~~loan~~in ~~facility~~gross ~~termination~~profit percentage during the current period was largely due to higher component costs ofin ~~$0.1~~the ~~million~~current ~~upon~~period ~~the~~coupled ~~termination~~with ofa ~~the~~slightly ~~Debt~~lower ~~Facility~~average selling price attributed to a change in ~~November~~sales ~~2024~~mix. InProduct ~~addition,~~revenue ~~$9,000~~consisted inof ~~legal~~OneRF ~~fees~~Products related ~~were~~sales during the periods presented. The cost of product revenue consisted of the manufacturing and materials costs incurred by our third-party contract manufacturers in connection with ~~the~~our ~~at-the market~~OneRF ~~offering~~Products ~~facility~~and ~~(described~~outside ~~further~~supplier ~~below)~~materials costs. WeIn ~~did~~addition, ~~not~~cost of ~~incur~~product ~~any~~revenue ~~financing~~included ~~costs~~royalty fees incurred of approximately of $38,000 in connection with our license agreements during each of the ~~nine~~three months ended ~~June~~March 3031, ~~2024~~2026 and 2025.

~~Other Income~~29

~~Other income~~NeuroOne ~~during~~Medical ~~the~~Technologies ~~nine months ended June 30, 2025 and 2024 consisted of $104,000 and $103,000 related to interest income attributed to our cash and cash equivalents, respectively.~~Corporation

~~Liquidity and~~Form ~~Capital Resources~~10-Q

~~Overview~~Selling, General and Administrative Expenses

AsSelling, general and administrative expenses were $1.9 million during each of ~~June~~the 30three months ended March 31, 2026 and 2025. The slight decrease of $21,000 ~~our~~in ~~principal~~the ~~source~~current quarter over the comparable prior year quarter was largely attributed to lower legal costs of ~~liquidity~~$0.1 ~~consisted~~million and lower professional fees of ~~cash~~$0.1 million, offset by higher administrative payroll and ~~cash~~stock-based ~~equivalents~~compensation inof ~~the~~$0.1 ~~aggregate~~million and by sales and marketing costs of ~~approximately~~$0.1 million. Selling, general and administrative expenses included $80.3 million and $0.2 million of stock-based compensation during the three months ended March 31, 2026 and 2025, respectively.

~~Capital Resources~~Research and Development Expenses

~~Our~~Research and development expenses were $1.5 million ~~sources~~during each of ~~cash~~the three months ended March 31, 2026 and ~~cash~~2025. ~~equivalents~~The slight decrease of $43,000 in the current period over the prior year period was attributed largely to ~~date~~the ~~have~~timing ~~been~~of ~~limited~~product development activities in the current quarter when compared to ~~license,~~the ~~collaboration~~comparable prior year quarter. Research and ~~product~~development ~~revenues,~~expenses ~~along~~primarily ~~with~~included ~~proceeds~~salary-related ~~from~~expenses and costs related to consulting services, materials and supplies associated with the ~~issuances~~development of ~~notes~~additional ~~with~~applications ~~warrants~~of our thin-film electrode technology, ~~common~~including ~~stock~~the delivery ~~with~~of drugs or gene therapy to the brain, and ~~without~~basivertebral ~~warrants~~nerve ablation (BVNA) and ~~unsecured~~spinal ~~loans~~cord ~~with~~stimulation ~~the~~for ~~terms~~treatment of chronic ~~our~~lower ~~more~~back ~~recent~~pain. ~~financings~~Research and development expenses included $0.1 million of stock-based compensation during the each of the three ~~described~~months ~~below~~ended March 31, 2026 and 2025.

29Fair Value Change in Warrant Liability

~~NeuroOne~~The ~~Medical~~net ~~Technologies~~change ~~Corporation~~in fair value of the warrant liability during the three months ended March 31, 2026 was $8,000 compared to a $(0.4) million benefit during the three months ended March 31, 2025. The change was due primarily to fluctuations in our common stock fair value.

~~Form~~Other ~~10-Q~~Income

~~April~~Other income during the three months ended March 31, 2026 and 2025 ~~Financing~~related to interest income on our cash, cash equivalents and short-term investments in the amount of $23,000 and $19,000, respectively.

~~On April~~Comparison ~~4, 2025, we entered into an Underwriting Agreement (the “Underwriting Agreement”) with Ladenburg Thalmann & Co. Inc. as underwriter (the “Underwriter”), relating to the issuance and sale~~ of ~~16,000,000 shares of our common stock, at a price to~~ the ~~public~~Six ofMonths ~~$0.50~~Ended ~~(the~~March ~~“April 2025 Financing”). In addition~~31, ~~under the terms of the Underwriting Agreement, we~~ ~~granted~~2026 the Underwriter an option, exercisable for 45 days, to purchase up to an additional 2,400,000 shares of common stock on the same terms as the offering, which was exercised in full. Issuance costs in connection with the April 2025 Financing amounted to approximately $1.0 million which included a 7.0% commission to the Underwriter and ~~legal and other expenses in the amount of $0.3 million. The Company received approximately $8.2 million in net proceeds.~~ 2025

~~August~~The following table sets forth the results of ~~2024~~operations ~~Private~~for ~~Placement~~the six months ended March 31, 2026 and 2025, respectively.

On August 1, 2024, we entered into a Securities Purchase Agreement with certain Purchasers, pursuant to which we, in a private placement, agreed to issue and sell an aggregate of (i) 2,944,446 shares of our Company’s common stock (the “Shares”), par value $0.001 per share and (ii) warrants to purchase an aggregate of 2,208,338 shares of common stock (the “PIPE Warrants”) at a purchase price of $0.90 per unit, consisting of one share and a PIPE Warrant to purchase 0.75 shares of common stock, resulting in total gross proceeds of approximately $2.65 million before deducting estimated expenses. The 2024 Private Placement closed on August 2, 2024. Issuance costs attributed to the 2024 Private Placement amounted to $0.2 million.

	For the Six Months Ended March 31, (unaudited)
	2026			2025			Period to Period Change
Product revenue	$	5,283,820		$	4,660,717		$	623,103
Cost of product revenue		2,429,375			1,962,767			466,608
Product gross profit		2,854,445			2,697,950			156,495

License revenue		—			3,000,000			(3,000,000	)

Operating expenses:
Selling, general and administrative		3,804,826			3,983,868			(179,042	)
Research and development		2,857,770			2,682,891			174,879
Total operating expenses		6,662,596			6,666,759			(4,163	)
Loss from operations		(3,808,151	)		(968,809	)		(2,839,342	)
Fair value change in warrant liability		214,469			779,796			(565,327	)
Financing costs		—			(324,738	)		324,738
Other income		70,123			28,466			41,657
Loss before income taxes		(3,523,559	)		(485,285	)		(3,038,274	)
Provision for income taxes		—			—			—
Net loss	$	(3,523,559	)	$	(485,285	)	$	(3,038,274	)

The PIPE Warrants are exercisable beginning on the date of issuance and had an initial exercise price of $1.19 per share, subject to adjustment. In April 2025, the exercise price was reset to $0.465 upon the close of the April 2025 Financing for all of the PIPE Warrants, except for the PIPE Warrants to purchase 20,834 shares of common stock issued to a director on our Board of Directors for which the exercise price was reset to $0.876 per share. The PIPE Warrants will expire on the third anniversary of the date of issuance.30

~~In connection~~NeuroOne ~~with~~Medical ~~the~~Technologies 2024 Private Placement, we agreed to file a registration statement with the SEC covering the resale of the Shares and the shares of common stock issuable upon exercise of the PIPE Warrants which became effective on September 13, 2024.Corporation

AtForm 10-~~The-Market Offering~~Q

~~On December~~Product ~~21,~~Revenue 2022, we entered into a Capital on DemandTM Sales Agreement (“Sales Agreement”) with JonesTrading Institutional Services LLC (“JonesTrading”) to create an at-the-market offering program (“ATM”) under which we may offer and ~~sell~~Product ~~shares~~Gross having an aggregate offering price of up to $14.5 million. JonesTrading is entitled to a commission at a fixed commission rate of up to 3% of the gross proceeds. On July 24, 2023, we decreased the amount of common stock that can be sold pursuant to the Sales Agreement, such that we were offering up to an aggregate of $2.6 million of our common stock for sale under the Sales Agreement, including the shares of our common stock previously sold. Subsequently, on December 1, 2023, however, we increased the amount of common stock that can be sold pursuant to the Sales Agreement, such that we were offering up to an aggregate of $4.8 million of our common stock for sale under the Sales Agreement, including the shares of our common stock previously sold. On January 5, 2024, we further increased the amount of common stock that can be sold pursuant to the Sales Agreement, such that we are offering up to an aggregate of $9.3 million of our common stock for sale under the Sales Agreement, including the shares of common stock previously sold. Through June 30, 2025, we have issued 5,544,489 shares of common stock under the ATM for gross proceeds in the amount of $8.0 million. We incurred issuance costs in connection with the ATM in the amount of $0.6 million through June 30, 2025. On August 16, 2024, we increased the amount of common stock that can be sold pursuant to the Sales Agreement by $3.0 million. On April 3, 2025, we decreased the amount of common stock that can be sold pursuant to the Sales Agreement to zero.Profit

~~Debt~~Product revenue was $5.3 million during the six ~~Facility~~months ~~Financing~~ended March 31, 2026 with a gross profit and gross profit percentage of $2.9 million and 54.0%, respectively. Product revenue was $4.7 million during the six months ended March 31, 2025 with a gross profit and gross profit percentage of $2.7 million and 57.9%, respectively. The decrease in gross profit percentage during the current period was largely due to higher product costs coupled with a slightly lower average selling price associated with the sales mix. Product revenue consisted of OneRF Products during the period presented. The cost of product revenue consisted of the manufacturing and materials costs incurred by our third-party contract manufacturers in connection with our OneRF Products and outside supplier materials costs. In addition, cost of product revenue included royalty fees incurred of approximately $75,000 in connection with our license agreements during each of the six months ended March 31, 2026 and 2025.

~~On August~~License 2, 2024, we entered into the Debt Facility Agreement with Growth Opportunity Funding, LLC, as the Lender, which provided for a delayed draw term loan facility in an aggregate principal amount not to exceed $3.0 million. We were permitted to borrow loans under the Debt Facility Agreement from time to time, for general corporate purposes and subject to certain specified conditions, until the earliest of: (i) November 30, 2024, (ii) the occurrence of any Monetization Event as defined in the Debt Facility Agreement or a change of control, or (iii) at the Lender’s option, upon the occurrence and during the continuance of an event of default under the Debt Facility Agreement. On November 7, 2024, the Company terminated the Debt Facility Agreement, and no amounts were drawn under the Debt Facility Agreement. Total costs incurred under the debt facility financing was $0.4 million.Revenue

30License revenue was $3.0 million for the six months ended March 31, 2025 related to the distribution license granted to Zimmer for the OneRF Product in the brain in October 2024. No license revenue was generated from the Amended and Restated Zimmer Development Agreement during the six months ended March 31, 2026.

~~NeuroOne~~Selling, ~~Medical~~General ~~Technologies~~and ~~Corporation~~Administrative Expenses

~~Form~~Selling, 10general and administrative expenses were $3.8 million for the six months ended March 31, 2026, compared to $4.0 million for the six months ended March 31, 2025. The $0.2 million decrease in the current six-Qmonth period compared to the comparable prior year period was primarily due to lower legal costs of $0.3 million and lower professional fees of $0.2 million, offset by higher administrative payroll of $0.2 million and marketing and sales costs of $0.1 million. Selling, general and administrative expenses included $0.5 million of stock-based compensation during each of the six months ended March 31, 2026 and 2025.

~~Funding Requirements~~Research and Development Expenses

~~Certain~~Research and development expenses were $2.9 million offor ~~our~~the ~~cash~~six ~~requirements~~months ~~relate~~ended March 31, 2026, compared to ~~the~~$2.7 ~~funding~~million offor ~~our~~the ~~ongoing~~six ~~product~~months ~~development~~ended ~~and~~March ~~commercialization~~31, ~~operations~~2025. ~~and~~The ~~our~~$0.2 ~~milestone~~million increase ~~and~~period ~~royalty~~over ~~obligations~~period ~~under~~was ~~our~~attributed ~~intellectual~~to ~~property~~the ~~licenses~~timing ~~with~~development ~~WARF~~activities ~~and~~during ~~Mayo.~~the ~~See~~current ~~“Part~~six-month 1,period ~~Item~~when ~~1—Business—Clinical~~compared to the comparable ~~Development~~prior year period. Research and ~~Regulatory~~development ~~Pathway—Clinical~~primarily ~~Experience,~~included ~~Future~~salary-related ~~Development~~expenses and ~~Clinical~~costs ~~Trial~~related ~~Plans”~~to inconsulting ~~our~~services, ~~Annual Report~~materials onand ~~Form~~supplies ~~10-K~~associated ~~for~~with the ~~year~~development ~~ended~~of ~~September~~additional ~~30,~~applications ~~2024~~of ~~for~~our athin-film ~~discussion~~electrode technology, including the delivery of ~~design,~~drugs ~~development~~or gene therapy to the brain, ~~pre-clinical~~and basivertebral nerve ablation (BVNA) and ~~clinical~~spinal ~~activities~~cord ~~that we~~stimulation ~~may~~for ~~conduct~~treatment inof ~~the~~chronic ~~future,~~lower back ~~including~~pain.. ~~expected~~Research ~~cash~~and ~~expenditures~~development ~~required~~expenses ~~for~~included ~~some~~$0.2 million and $0.1 million of ~~those~~stock-based ~~activities,~~compensation toduring the ~~extent~~six wemonths ended ~~are~~March ~~able~~31, ~~to estimate~~2026 ~~such~~and ~~costs~~2025, respectively.

On January 21, 2020, we entered into an Amended and Restated License Agreement (the “WARF License”) with WARF, which amended and restated in full our prior license agreement with WARF, dated October 1, 2014. Under the WARF License, we have agreed to pay WARF a royalty equal to a single-digit percentage of our product sales pursuant to the WARF License, with a minimum annual royalty payment of $50,000 for 2020, $100,000 for 2021 and $150,000 for 2022 and each calendar year thereafter that the WARF License is in effect. If we or any of our sublicensees contest the validity of any licensed patent, the royalty rate will be doubled during the pendency of such contest and, if the contested patent is found to be valid and would be infringed by us if not for the WARF License, the royalty rate will be tripled for the remaining term of the WARF License.31

~~Under the~~NeuroOne ~~Amended~~Medical ~~and~~Technologies Restated License and Development Agreement with Mayo (the “Mayo Development Agreement”), we have agreed to pay Mayo a royalty equal to a single-digit percentage of our product sales pursuant to the Mayo Development Agreement. See “Note 4 – Commitments and Contingencies” included in our condensed financial statements included in “Part 1, Item 1 – Financial Statements” in this Report for more information about the WARF License and the Mayo Development Agreement.Corporation

~~Our other~~Form cash requirements within the next twelve months include accounts payable, accrued expenses, purchase commitments and other current liabilities. Our other cash requirements greater than twelve months from various contractual obligations and commitments include operating leases and contracted services. Refer to “Note 4 – Commitments and Contingencies” included in our condensed financial statements included in “Part 1, Item 1 – Financial Statements” in this Report for further detail of our lease obligations and the timing of expected future payments. Contracted services include agreements with third10-~~party service providers for clinical research, product development, manufacturing, supplies, payroll services, equipment maintenance services, and audits for periods up to fiscal year 2027.~~Q

~~We expect~~Fair toValue ~~satisfy~~Change in ~~our~~Warrant ~~short-term and long-term obligations through cash on hand and revenue from commercial sales to cover expenses.~~Liability

~~Liquidity~~The net change in fair ~~Outlook~~value of the warrant liability during the six months ended March 31, 2026 was $(0.2) million benefit compared to a $(0.8) million benefit for the six months ended March 31, 2025. The change was due primarily to fluctuations in our common stock fair value.

~~For a~~Financing discussion of potential fee payments under the Amended and Restated Zimmer Development Agreement, see “Note 7 — Zimmer Distribution Agreement and Other Product Revenue” included in our condensed financial statements included in “Part 1, Item 1 – Financial Statements” in this Report. Even though we have received regulatory clearance to expand the use of our Evo sEEG electrode technology for up to 30 days, commercial sales of the sEEG electrodes and OneRF Products are expected to take some time to be a significant source of liquidity. Zimmer has exclusive global rights to distribute our strip and grid cortical electrodes, depth electrodes and electrode cable assembly products. Zimmer’s failure to timely develop or commercialize these products would have a material adverse effect on our business and operating results. On October 2024, we entered into an Amended and Restated Distribution Agreement with Zimmer to provide Zimmer with the exclusive right and license to distribute also our OneRF Ablation System for an upfront payment of $3.0 million, with eligibility for an additional $1.0 million payment from Zimmer upon achievement of certain specified net sales milestones.Costs

Financing costs during the six months ended March 31, 2025 consisted of the amortization of the deferred issuance costs associated with the debt facility (described further below) in the amount of $0.2 million and additional legal and loan facility termination costs of $0.1 million upon the termination of the Debt Facility in November 2024. We did not incur any financing costs during the six months ended March 31, 2026.

~~NeuroOne~~Other ~~Medical Technologies Corporation~~Income

~~Form~~Other ~~10-Q~~income during the six months ended March 31, 2026 and 2025 consisted of $70,000 and $28,000 related to interest income attributed to our cash and cash equivalents, respectively.

~~At June~~Liquidity ~~30, 2025, we had cash~~ and ~~cash equivalents in the aggregate of approximately $8.0 million. Our independent registered public accounting~~Capital firm included an explanatory paragraph in the report on our financial statements as of and for the years ended September 30, 2024 and 2023, respectively, noting the existence of substantial doubt about our ability to continue as a going concern. We believe our current available cash and cash equivalents coupled with the anticipated increase in product revenues from minimum purchases and improved gross margins under the Zimmer Amendment and forecasted operating expense reductions, will be sufficient to fund our planned expenditures and meet our obligations for at least twelve months from the date of issuance of these financial statements.Resources

In the future, however, in the absence of an adequate level of commercial sales to cover expenses, we may need to secure additional funding through public or private equity or debt financings, through collaborations or partnerships with other companies or other sources. We may not be able to raise additional capital on terms acceptable to us, or at all. Any failure to raise capital when needed could compromise our ability to execute on our business plan. If we are unable to raise additional funds, or if our anticipated operating results are not achieved, we believe planned expenditures may need to be reduced in order to extend the time period that existing resources can fund our operations. If we are unable to obtain the necessary capital in the future from operating results or future financing, it may have a material adverse effect on our operations and the development of our technology, or we may have to cease operations altogether.Overview

~~The~~As of March 31, 2026, ~~development~~our principal source of liquidity consisted of cash and ~~commercialization~~cash equivalents in the aggregate of approximately $2.8 million. While we began to generate revenue in fiscal year 2021 from commercial sales and through milestone and other payments under our ~~cortical~~agreement ~~strip~~with Zimmer, we ~~grid~~expect ~~electrode,~~to ~~depth~~continue ~~electrode,~~to ~~ablation~~incur ~~system~~significant ~~technology~~expenses and ~~future~~increasing ~~products~~ operating and ~~technology~~net islosses ~~subject~~for tothe ~~numerous~~foreseeable ~~uncertainties,~~future until and unless we ~~could~~generate ~~use~~an ~~our~~adequate ~~cash~~level ~~and~~of ~~cash~~revenue ~~equivalent~~from ~~resources~~commercial ~~sooner~~sales ~~than~~to wecover ~~expect~~expenses. ~~Additionally, the~~Our ~~process~~most significant cash requirements relate to the funding of ~~developing~~our ~~medical~~ongoing ~~devices~~product isdevelopment ~~costly~~and commercialization operations. Our additional material cash needs include commitments under operating leases, ~~and~~royalty obligations under our intellectual property licenses with the ~~timing~~Wisconsin ofAlumni ~~progress~~Research inFoundation ~~pre-clinical~~and ~~tests~~the Mayo Foundation for Medical Education and ~~clinical~~Research ~~trials~~as iswell ~~uncertain~~as other administrative services. See “Funding Requirements” below ~~Our~~for ~~ability~~more toinformation. ~~successfully~~We ~~transition~~anticipate tothat ~~profitability~~our expenses will beincrease ~~dependent~~substantially ~~upon~~as ~~achieving~~we ~~further~~continue ~~regulatory~~to ~~approvals~~develop and ~~achieving~~commercialize aour electrode ~~level~~technology ofand ~~product~~pursue ~~sales~~pre-clinical ~~adequate~~and toclinical ~~support~~trials, ~~our~~seek ~~cost~~regulatory ~~structure.~~approvals, Wemanufacture ~~cannot~~products, ~~assure~~market ~~you~~and ~~that~~distribute weour ~~will~~OneRF Products, ~~ever~~hire beadditional ~~profitable~~staff, oradd ~~generate~~operational, ~~positive cash~~financial ~~flow~~and ~~from~~management ~~operating~~systems ~~activities~~and continue to operate as a public company.

~~Cash Flows~~Capital Resources

~~The~~Our sources of cash ~~following~~and iscash aequivalents ~~summary~~to ofdate ~~cash~~have ~~flows~~been ~~for~~limited ~~each~~to license, collaboration and product revenues, along with proceeds from the issuances of notes with warrants, common stock with and without warrants and unsecured loans with the ~~periods~~terms ~~set~~of ~~forth~~our more recent financings described below.

	For the Nine Months Ended
	June 30,
	2025			2024
Net cash used in operating activities	$	(1,311,600	)	$	(8,344,957	)
Net cash used in investing activities		(71,135	)		(83,292	)
Net cash provided by financing activities		7,962,376			4,725,733
Net increase (decrease) in cash and cash equivalents	$	6,579,641		$	(3,702,516	)

March 2026 Private Placement

~~Net~~On March 1, 2026, we ~~cash~~entered ~~used~~into the March 2026 Private Placement with a newly appointed officer of the Company, David Wambeke, to issue and sell 166,666 shares of our common stock at a price per share equal to $4.02242. The March 2026 Private Placement closed on March 2, 2026 upon which we received gross proceeds in ~~operating~~the ~~activities~~amount of $670,400. Issuance costs in connection with the March 2026 Private Placement were nil.

Net cash used in operating activities was $1.3 million for the nine months ended June 30, 2025, which consisted of a net loss of $2.0 million partially offset by non-cash stock-based compensation, depreciation, amortization related to intangible assets, a fair value change in warrant liability and operating lease expense, totaling approximately $0.3 million in the aggregate. Our net loss was further adjusted to account for the reclassification of debt and equity facility termination costs to financing activities in the amount of $0.1 million. The net change in our net operating assets and liabilities associated with fluctuations in our operating activities resulted in a cash source of approximately $0.3 million. The net cash source stemming from the change in operating assets and liabilities was primarily attributable to both a decrease in accounts receivable and inventory, partially offset by a net decrease in our aggregate accrued expense and accounts payable as well as by a slight increase in our prepaid expenses associated with the timing of payments.32

~~Net cash~~NeuroOne ~~used~~Medical inTechnologies operating activities was $8.3 million for the nine months ended June 30, 2024, which consisted of a net loss of $9.0 million partially offset principally by non-cash stock-based compensation, depreciation, amortization related to intangible assets, operating lease expense, totaling approximately $1.3 million in the aggregate. The net change in our net operating assets and liabilities associated with fluctuations in our operating activities resulted in a cash use of approximately $0.6 million. The net cash use stemming from the change in operating assets and liabilities was primarily attributable to both an increase in our accounts receivable and inventory purchases.Corporation

32Form 10-Q

~~NeuroOne~~April ~~Medical~~2025 ~~Technologies Corporation~~Financing

~~Form~~On ~~10-Q~~April 4, 2025, we entered into an underwriting agreement with Ladenburg, relating to the issuance and sale of 2,666,666 shares of our common stock, at a price to the public of $3.00. In addition, under the terms of the underwriting agreement, we granted Ladenburg an option, exercisable for 45 days, to purchase up to an additional 400,000 shares of common stock on the same terms as the offering, which was exercised in full. Issuance costs in connection with the April 2025 Financing amounted to approximately $1.0 million which included a 7.0% commission to the Underwriter and legal and other expenses in the amount of $0.3 million. The Company received approximately $8.2 million in net proceeds.

~~Net cash~~August ~~used~~2024 inPrivate ~~investing activities~~Placement

~~Net~~On August 1, 2024, we ~~cash~~entered ~~used~~into a Securities Purchase Agreement with certain purchasers, pursuant to which we, in ~~investing~~a ~~activities~~private ~~was~~placement, ~~$0.1~~agreed to ~~million~~issue ~~for~~and ~~the~~sell ~~nine~~an ~~months~~aggregate ~~ended~~of ~~June~~(i) 30490,741 ~~2025~~shares of our Company’s common stock (the “Shares”), and ~~consisted~~(ii) warrants to purchase an aggregate of ~~outlays~~368,052 ~~for~~shares ~~purchases~~of common stock (the “PIPE Warrants”) at a purchase price of $5.40 per unit, consisting ~~property~~of one share and ~~equipment~~a PIPE Warrant to purchase 0.75 shares of common stock, resulting in total gross proceeds of approximately $2.65 million before deducting expenses. The 2024 Private Placement closed on August 2, 2024. Issuance costs attributed to the 2024 Private Placement amounted to $0.2 million.

~~Net~~The PIPE Warrants are ~~cash~~exercisable ~~used~~beginning inon ~~investing~~the ~~activities~~date of issuance and had an initial exercise price of $7.14 per share, subject to adjustment. In April 2025, the exercise price was reset to $02.179 ~~million~~upon the close of the April 2025 Financing for all of the ~~nine~~PIPE ~~months~~Warrants, ~~ended~~except ~~June~~for 30the PIPE Warrants to purchase 3,472 ~~2024~~shares ~~and~~of ~~consisted~~common stock issued to a director on our Board of ~~outlays~~Directors for ~~purchases~~which ofthe exercise price was reset to $5.26 ~~property~~per ~~and~~share. ~~equipment~~The PIPE Warrants will expire on the third anniversary of the date of issuance.

~~Net~~In connection with the ~~cash~~2024 ~~provided~~Private byPlacement, ~~financing~~we ~~activities~~agreed to file a registration statement with the SEC covering the resale of the Shares and the shares of common stock issuable upon exercise of the PIPE Warrants which became effective on September 13, 2024.

~~Net cash~~At-The-Market provided by financing activities was $8.0 million for the nine months ended June 30, 2025, which consisted of net proceeds from the April 2025 Financing of $8.2 million and from the ATM in the amount of $0.3 million, offset by debt facility issuance costs of $0.3 million, issuance costs paid in connection with a prior year private placement of approximately $0.1 million and repurchases of common stock for the payment of employee taxes in the amount of $0.1 million.Offering

~~Net~~On December 21, 2022, ~~cash~~we ~~provided~~entered byinto ~~financing~~a ~~activities~~Capital ~~was~~on DemandTM Sales Agreement (“Sales Agreement”) with JonesTrading Institutional Services LLC (“JonesTrading”) to create an at-the-market offering program (“ATM Program”) under which we may offer and sell shares having an aggregate offering price of up to $414.75 million. ~~for~~JonesTrading is entitled to a commission at a fixed commission rate of up to 3% of the ~~nine~~gross ~~months~~proceeds. ~~ended~~On ~~June~~April 303, ~~2024~~2025, ~~which~~we ~~consisted~~decreased the amount of ~~net~~common ~~proceeds~~stock ~~from~~that can be sold pursuant to the ~~ATM~~Sales Agreement to zero, and on August 15, 2025, we increased the amount of common stock that can be sold pursuant to the Sales Agreement to $46,750,000.8 ~~million~~Through March 31, ~~offset~~2026, ~~partially~~we byhave ~~repurchases~~issued 924,081 shares of common stock under the ATM Program for gross proceeds in the ~~payment~~amount of ~~employee~~$8.0 ~~taxes~~million. We incurred issuance costs in connection with the ATM Program in the amount of $0.16 million through March 31, 2026.

~~Critical Accounting~~Debt ~~Estimates~~Facility Financing

~~Our financial~~On ~~statements~~August ~~are~~2, ~~prepared~~2024, inwe entered ~~accordance~~into ~~with~~the ~~U.S.~~Debt ~~generally~~Facility ~~accepted~~Agreement ~~accounting~~with ~~principles.~~Growth ~~These~~Opportunity ~~accounting~~Funding, ~~principles~~LLC, ~~require us~~as ~~to make estimates and judgments that can affect~~ the ~~reported~~Lender, ~~amounts~~which ofprovided ~~assets~~for ~~and~~a ~~liabilities~~delayed asdraw ofterm loan ~~the~~facility ~~date~~in ofan ~~the~~aggregate ~~financial~~principal ~~statements as~~amount ~~well~~not asto ~~the~~exceed ~~reported~~$3.0 ~~amounts~~million. ofWe ~~revenue~~were ~~and~~permitted ~~expense~~to ~~during~~borrow ~~the~~loans ~~periods~~under ~~presented. We believe that~~ the ~~estimates~~Debt ~~and~~Facility Agreement ~~judgments~~from ~~upon which~~time weto ~~rely~~time, ~~are~~for ~~reasonably~~general ~~based~~corporate ~~upon~~purposes ~~information~~and ~~available~~subject to uscertain atspecified ~~the~~conditions, ~~time~~until ~~that~~the weearliest ~~make~~of: ~~these~~(i) ~~estimates~~November 30, ~~and~~2024, ~~judgments.~~(ii) To the ~~extent that~~occurrence ~~there~~of ~~are~~any ~~material~~Monetization ~~differences~~Event ~~between~~or ~~these~~a ~~estimates~~Change ~~and~~of ~~actual results~~Control, ~~our~~as ~~financial~~each ~~results~~defined ~~will~~in bethe ~~affected.~~Debt ~~The~~Facility ~~accounting policies~~Agreement, ~~that~~or ~~reflect~~(iii) at ~~our~~the ~~more~~Lender’s ~~significant~~option, ~~estimates~~upon ~~and~~the ~~judgments~~occurrence and ~~which~~during ~~we believe are~~ the ~~most~~continuance ~~critical~~of toan ~~aid~~event inof ~~fully~~default ~~understanding and~~under ~~evaluating~~the ~~our~~Debt ~~reported~~Facility ~~financial~~Agreement. On ~~results~~November ~~are~~7, ~~described~~2024, inthe ~~“Note~~Company 3terminated —the ~~Summary~~Debt ofFacility ~~Significant~~Agreement, ~~Accounting~~and ~~Policies” to~~no ~~our~~amounts ~~condensed~~were ~~financial~~drawn ~~statements~~under ~~included~~the inDebt ~~“Part~~Facility 1,Agreement. Total costs ~~Item~~incurred 1under –the ~~Financial~~debt ~~Statements”~~facility infinancing ~~this~~was ~~Report~~$0.4 million.

Of these policies, the following are considered critical to an understanding of our condensed financial statements included in “Part 1, Item 1 – Financial Statements” in this Report as they require the application of the most subjective and the most complex judgments: 33

~~Revenues~~NeuroOne Medical Technologies Corporation

~~For discussion~~Form about the determination of license revenue and product revenue, see “Note 7 — Zimmer Distribution Agreement and Other Product Revenue” included in our condensed financial statements included in “Part 1, Item 1 – Financial Statements” in this Report. To date, we have not had, nor expect to have in the future, significant variable consideration adjustments related to product revenue, such as chargebacks, sales allowances and sales returns.10-Q

~~Stock-based Compensation~~Funding Requirements

~~For~~As noted above, certain ~~discussions~~of ~~about~~our cash requirements relate to the ~~application~~funding of ~~grant~~our ~~date~~ongoing ~~fair~~product ~~value~~development ~~associated~~and commercialization operations and our milestone and royalty obligations under our intellectual property licenses with WARF and Mayo. See “Item 1—Business—Clinical Development and Regulatory Pathway—Clinical Experience, Future Development and Clinical Trial Plans” in our ~~stock~~Annual Report on Form 10-~~based~~K ~~compensation~~for the year ended September 30, ~~see~~2025 ~~“Note~~for 8a —discussion ~~Stock~~of design, development, pre-~~Based~~clinical and clinical activities that ~~Compensation”~~we ~~included~~may conduct in ~~our~~the ~~condensed~~future, ~~financial~~including ~~statements~~expected ~~included~~cash inexpenditures ~~“Part~~required 1for some of those activities, ~~Item~~to 1the –extent ~~Financial~~we ~~Statements”~~are able to inestimate ~~this~~such ~~Report~~costs.

~~Fair~~Under the Amended and ~~Value~~Restated License and Development Agreement with Mayo (the “Mayo Development Agreement”), we have agreed to pay Mayo a royalty equal to a single-digit percentage of ~~Warrant~~certain ~~liability~~of our product sales pursuant to the Mayo Development Agreement. See “Note 4 – Commitments and Contingencies” to our condensed financial statements included in “Part 1, Item 1 – Financial Statements” of this Report for more information about the WARF License and the Mayo Development Agreement.

~~We issued~~Our ~~warrants~~other incash ~~connection~~requirements within ~~with~~the ~~our~~next ~~August~~twelve ~~2024~~months ~~Private~~include ~~Placement.~~accounts ~~The~~payable, ~~warrants~~accrued ~~were~~expenses, ~~classified~~purchase ascommitments aand ~~liability~~other oncurrent ~~our~~liabilities. ~~balance~~Our ~~sheet~~other ~~and~~cash ~~were~~requirements ~~recorded~~greater atthan ~~fair~~twelve ~~value~~months asfrom ~~certain~~various ~~provisions~~contractual ~~precluded~~obligations ~~equity~~and ~~accounting~~commitments ~~treatment~~include ~~for~~operating ~~these~~leases ~~instruments~~and contracted services. Refer ~~We will continue~~ to ~~adjust~~ ~~the~~“Note ~~liabilities~~4 ~~for~~– ~~changes~~Commitments inand ~~fair~~Contingencies” to ~~value~~our ~~until~~condensed ~~the~~financial ~~earlier~~statements included in of“Part ~~the exercise~~1, ~~expiration,~~Item or1 ~~until~~– ~~such~~Financial ~~time~~Statements” ~~that~~of ~~cash~~this ~~settlement or~~Report for ~~indexation~~further ~~provisions~~detail ~~are~~of noour ~~longer~~lease inobligations ~~effect~~and ~~for~~ the timing ~~warrants. For~~of ~~discussions~~expected ~~about~~future ~~the~~payments. ~~application~~Contracted ofservices ~~fair~~include ~~value~~agreements ~~associated~~ with ~~the~~third-party ~~warrants,~~service ~~see~~providers ~~“Note~~for 12clinical –research, product ~~Stockholders’~~development, ~~Equity”~~manufacturing, ~~included~~supplies, inpayroll ~~“Part~~services, 1equipment maintenance services, ~~Item~~and 1audits –for ~~Financial~~periods ~~Statements” in~~up ~~this~~to ~~Report~~fiscal year 2028.

33We expect to satisfy our short-term and long-term obligations through cash on hand and revenue from commercial sales to cover expenses.

~~NeuroOne~~Liquidity ~~Medical Technologies Corporation~~Outlook

~~Form~~For ~~10-Q~~a discussion of potential fee payments under the Amended and Restated Zimmer Development Agreement, see “Note 7 — Zimmer Distribution Agreement and Other Product Revenue” to our condensed financial statements included in “Part 1, Item 1 – Financial Statements” of this Report. Even though we have received regulatory clearance to expand the use of our Evo sEEG electrode technology for up to 30 days, commercial sales of the sEEG electrodes and OneRF Ablation System are expected to take some time to be a significant source of liquidity. Zimmer has exclusive global rights to distribute our strip and grid cortical electrodes, depth electrodes and electrode cable assembly products. Zimmer’s failure to timely develop or commercialize these products would have a material adverse effect on our business and operating results. In October 2024, we entered into an Amended and Restated Distribution Agreement with Zimmer (“Zimmer Distribution Agreement”) to provide Zimmer with the exclusive right and license to distribute our OneRF Ablation System in the brain for an upfront payment of $3.0 million, with eligibility for an additional $1.0 million payment from Zimmer upon achievement of certain specified net sales milestones.

~~Income~~As of March 31, 2026, ~~Tax~~we ~~Assets~~had cash and ~~Liabilities~~cash equivalents in the aggregate of approximately $2.8 million. Management has noted the existence of substantial doubt about our ability to continue as a going concern. Additionally, our independent registered public accounting firm included an explanatory paragraph in the report on our financial statements as of and for the years ended September 30, 2025 and 2024, respectively, noting the existence of substantial doubt about our ability to continue as a going concern. Our existing cash and cash equivalents may not be sufficient to fund our operating expenses through at least twelve months from the date of this filing. To continue to fund operations, we will need to secure additional funding through public or private equity or debt financing, through collaborations or partnerships with other companies, or other sources.

Income tax assets and liabilities include income tax valuation allowances. For additional information, see “Note 10 — Income Taxes” included in our condensed financial statements included in “Part 1, Item 1 – Financial Statements” in this Report and “Note 12 – Income Taxes” in “Part II, Item 8 - Financial Statements” of our Annual Report on Form 10-K for the year ended September 30, 2024.34

~~Contingencies~~NeuroOne Medical Technologies Corporation

~~We are~~Form subject to numerous contingencies arising in the ordinary course of business, including legal contingencies. For additional information, see “Note 4 — Commitments and Contingencies” included in our condensed financial statements included in “Part 1, Item 1 – Financial Statements” in this Report. 10-Q

~~Recent~~We may not be able to ~~Accounting~~raise ~~Pronouncements~~additional capital on terms acceptable to us, or at all. Any failure to raise capital when needed could compromise our ability to execute on our business plan. If we are unable to raise additional funds, or if our anticipated operating results are not achieved, we believe planned expenditures may need to be reduced in order to extend the time period that existing resources can fund our operations. If we are unable to obtain the necessary capital in the future from operating results or future financing, it may have a material adverse effect on our operations and the development of our technology, or we may have to cease operations altogether.

~~Refer~~The development and tocommercialization ~~“Note~~of 3—our ~~Summary~~cortical ofstrip, ~~Significant~~grid ~~Accounting~~electrode, ~~Policies”~~depth electrode, ablation system technology and future products and technology is subject to numerous uncertainties, and we could use our ~~condensed~~cash ~~financial~~and ~~statements~~cash ~~included~~equivalent inresources ~~“Part~~sooner than we expect. Additionally, the 1process of developing medical devices is costly, ~~Item~~and 1the –timing ~~Financial~~of ~~Statements”~~progress in ~~this~~pre-clinical ~~Report~~tests ~~for~~and aclinical ~~discussion~~trials is uncertain. Our ability to successfully transition to profitability will be dependent upon achieving further regulatory approvals and achieving a level of ~~recently~~product ~~issued~~sales ~~accounting~~adequate ~~pronouncements~~to support our cost structure. We cannot assure you that we will ever be profitable or generate positive cash flow from operating activities.

~~Item~~Our other cash requirements 3within the next twelve months include accounts payable, accrued expenses, purchase commitments and other current liabilities. ~~Quantitative~~Our other cash requirements greater than twelve months from various contractual obligations and ~~Qualitative~~commitments ~~Disclosures~~include ~~About~~operating ~~Market~~leases ~~Risk~~and contracted services.

~~Not~~We expect to satisfy ~~applicable~~our ~~for~~short ~~smaller~~term ~~reporting~~and ~~companies~~long term obligations through cash on hand and, until we generate an adequate level of revenue from commercial sales to cover expenses, if ever, from future equity and debt financings.

~~Item 4.~~Cash ~~Controls and Procedures~~Flows

~~Evaluation~~The following is a summary of cash flows for each of ~~Disclosure~~the ~~Controls~~periods ~~and~~set ~~Procedures~~forth below.

As required by Rule 13a-15(b) of the Securities Exchange Act of 1934, as amended, or the Exchange Act, under the direction of the Chief Executive Officer and the Chief Financial Officer, we have evaluated our disclosure controls and procedures as of the end of the period covered by this Quarterly Report on Form 10-Q. Based on this evaluation, our Chief Executive Officer and our Chief Financial Officer have concluded that our disclosure controls and procedures are effective as of the end of the period covered by this report. Our management has concluded that the financial statements included elsewhere in this Quarterly Report present fairly, in all material respects, our financial position, results of operations and cash flows in conformity with generally accepted accounting principles.

	For the Six Months Ended
	March 31,
	2026			2025
Net cash (used in) provided by operating activities	$	(4,444,546	)	$	151,905
Net cash used in investing activities		(79,270	)		(27,587	)
Net cash provided by (used in) financing activities		757,445			(264,109	)
Net decrease in cash and cash equivalents	$	(3,766,371	)	$	(139,791	)

~~Changes in~~Net ~~Internal~~cash ~~Control~~(used ~~over~~in) ~~Financial~~provided ~~Reporting~~by operating activities

~~There~~Net cash used in operating activities was $4.4 ~~has~~million ~~not~~for ~~been~~the ~~any~~six months ended March 31, 2026, which consisted of a net loss of $3.5 million partially offset by non-cash stock-based compensation, depreciation, amortization related to intangible assets, a fair value change in warrant liability and operating lease expense, totaling approximately $0.7 million in the aggregate. The net change in our ~~internal~~net ~~control~~operating ~~over~~assets ~~financial~~and ~~reporting~~liabilities ~~(as~~associated ~~such~~with ~~term~~fluctuations in isour ~~defined~~operating activities resulted in ~~Rule 13a-15(f)~~ a cash use of approximately $1.6 million. The change in operating assets and ~~15d-15(f) under~~ liabilities consisted ~~the Exchange~~of ~~Act)~~an ~~during~~increase ~~the~~in ~~period~~our ~~covered~~accounts byreceivable ~~this~~and ~~Quarterly~~prepaid ~~Report~~expenses onas ~~Form~~well ~~10-Q~~as ~~that~~of ~~has~~a ~~materially~~decrease ~~affected,~~in orour isaccounts ~~reasonably~~payable and accrued expenses ~~likely~~attributed to ~~materially~~the ~~affect~~timing ~~our~~of ~~internal~~payments, ~~control~~partially ~~over~~offset ~~financial~~by ~~reporting~~decrease in our inventory.

34Net cash provided by operating activities was $152,000 for the six months ended March 31, 2025, which consisted of a net loss of $0.5 million partially offset by non-cash stock-based compensation, depreciation, amortization related to intangible assets, a fair value change in warrant liability and operating lease expense, totaling approximately $0.2 million in the aggregate. Our net loss was further adjusted to account for the reclassification of debt termination costs to financing activities in the amount of $0.1 million. The net change in our net operating assets and liabilities associated with fluctuations in our operating activities resulted in a cash source of approximately $0.3 million. The net cash source stemming from the change in operating assets and liabilities was primarily attributable to both a decrease in inventory and prepaid expenses, partially offset by a net decrease in our aggregate accrued expenses, other liabilities and accounts payable as well as by an increase in our accounts receivable attributed to the timing of payments.

~~NeuroOne Medical Technologies Corporation~~35

~~Form~~NeuroOne ~~10-Q~~Medical Technologies Corporation

~~PART II~~Form ~~– OTHER INFORMATION~~10-Q

~~Item 1.~~Net ~~Legal~~cash ~~Proceedings~~used in investing activities

~~From time~~Net tocash ~~time,~~used ~~we may be involved~~ in ~~various~~investing ~~claims~~activities ~~and~~was ~~legal proceedings relating to claims arising out of our operations. We are not~~$79,000 ~~currently~~for ~~a party to any legal proceedings that, in~~ the ~~opinion~~six ofmonths ~~our~~ended ~~management,~~March ~~are likely to have a material adverse effect on our business. Regardless of outcome~~31, ~~litigation~~2026 ~~can~~and ~~have~~consisted ~~an adverse impact on us because~~ of ~~defense~~outlays ~~and~~for ~~settlement~~purchases ~~costs, diversion~~ of ~~management resources~~property and ~~other factors~~equipment.

~~Item~~Net cash used in investing activities was $28,000 ~~1A.~~for ~~Risk~~the ~~Factors~~six months ended March 31, 2025 and consisted of outlays for purchases of property and equipment.

~~In addition~~Net tocash ~~the~~provided ~~other~~by ~~information~~(used ~~set forth elsewhere~~ in) ~~this~~financing Report, you should carefully consider the factors discussed in “Part I, Item 1A - Risk Factors” of the Company’s Annual Report on Form 10-K for the year ended September 30, 2024. Such factors, if they were to occur, could cause our actual results to differ materially from those expressed in our forward-looking statements in this Report, and materially adversely affect our financial condition or future results. Although we are not aware of any other factors that we currently anticipate will cause our forward-looking statements to differ materially from our future actual results, or materially affect the Company’s financial condition or future results, additional risks and uncertainties not currently known to us or that we currently deem to be immaterial might materially adversely affect our actual business, financial condition and/or operating results.activities

~~Item~~Net cash provided by financing activities was 2$0.8 ~~Unregistered~~million ~~Sales~~for the six months ended March 31, 2026, which consisted of ~~Equity~~proceeds ~~Securities~~from a private placement in the amount of $0.7 million and ~~Use~~from the exercise of ~~Proceeds~~warrants in the amount of $0.2 million. The proceeds were offset in part by issuance costs and by repurchases of common stock for the payment of employee taxes in the amount of $0.1 million in the aggregate.

~~None~~Net cash used in financing activities was $0.3 million for the six months ended March 31, 2025, which consisted of issuance costs and repurchases of common stock for the payment of employee taxes in the amount of $0.7 million in the aggregate, offset partially by proceeds from the ATM of $0.4 million.

~~Item 3.~~Critical ~~Defaults Upon Senior Securities~~Accounting Estimates

~~None~~Our financial statements are prepared in accordance with U.S. generally accepted accounting principles. These accounting principles require us to make estimates and judgments that can affect the reported amounts of assets and liabilities as of the date of the financial statements as well as the reported amounts of revenue and expense during the periods presented. We believe that the estimates and judgments upon which we rely are reasonably based upon information available to us at the time that we make these estimates and judgments. To the extent that there are material differences between these estimates and actual results, our financial results will be affected. The accounting policies that reflect our more significant estimates and judgments and which we believe are the most critical to aid in fully understanding and evaluating our reported financial results are described in Note 3 — “Summary of Significant Accounting Policies” to our condensed financial statements in “Part 1, Item 1 – Financial Statements” of this Report.

Of these policies, the following are considered critical to an understanding of our condensed financial statements included in “Part 1, Item 1 – 4.Financial ~~Mine~~Statements” ~~Safety~~of ~~Disclosures~~this Report as they require the application of the most subjective and the most complex judgments:

~~Not applicable to our Company.~~Revenues:

~~Item~~For discussion about 5.the determination of license revenue and product revenue, see “Note 7 — Zimmer Distribution Agreement and Other ~~Information~~ Product Revenue” to our condensed financial statements included in “Part 1, Item 1 – Financial Statements” of this Report. To date, we have not had, nor expect to have in the future, significant variable consideration adjustments related to product revenue, such as chargebacks, sales allowances and sales returns.

~~Rule 10b5-1~~Fair ~~Trading~~Value ~~Plans~~of -Warrant ~~Directors and Section 16 Officers~~liability

~~During~~We issued warrants in ~~the~~connection ~~three~~with ~~months~~our ~~ended~~August ~~March~~2024 ~~31,~~Private ~~2025,~~Placement. ~~none~~The ofwarrants ~~the~~were ~~Company’s~~classified ~~directors~~as ora ~~Section~~liability 16on ~~officers~~our ~~adopted~~balance orsheet ~~terminated~~and ~~any~~were ~~contract,~~recorded ~~instruction~~at orfair ~~written~~value ~~plan~~as certain provisions precluded equity accounting treatment for these instruments. We will continue to adjust the ~~purchase~~liabilities for orchanges ~~sale~~in fair value until the earlier of ~~Company~~the ~~securities~~exercise, expiration, or until such time that ~~was~~cash ~~intended~~settlement toor ~~satisfy~~indexation provisions are no longer in effect for the ~~affirmative~~warrants. For ~~defense~~discussions ~~conditions of~~about ~~Rule~~the ~~10b5-1(c)~~application of fair value associated with the ~~Exchange~~warrants, ~~Act~~see “Note or12 ~~any~~– Stockholders’ Equity” to our condensed financial statements included in “~~non-Rule~~Part ~~10b5-~~1, ~~trading~~Item ~~arrangement~~1 – Financial Statements” of this Report.

~~Inducement Plan~~Recent ~~Amendment~~Accounting Pronouncements

~~On May~~Refer ~~20,~~to ~~2025,~~“Note 3— ~~the~~Summary ~~Company's board~~ of ~~directors~~Significant ~~adopted~~Accounting ~~the Second Amendment (the “Second Amendment~~Policies”) to ~~the~~ ~~Company’s~~our ~~Inducement~~condensed ~~Plan,~~financial ~~increasing~~statements ~~the~~included ~~aggregate~~in ~~number~~“Part of1, ~~shares~~Item of1 ~~common stock that may be issued pursuant to equity~~– ~~incentive~~Financial ~~awards~~Statements” ~~under~~of ~~the~~this ~~Inducement~~Report ~~Plan~~for bya ~~575,000~~discussion ~~shares~~ of ~~common~~recently ~~stock that may be~~ issued ~~pursuant~~accounting ~~to equity incentive awards under the Inducement Plan~~pronouncements. ~~The Company believes that the increase in the shares reserved under the Inducement Plan is necessary to allow it to attract qualified employees.~~

The foregoing description of the terms of the Second Amendment is qualified in its entirety by reference to the actual terms of the Second Amendment, which is attached hereto as Exhibit 10.1 and is incorporated herein by reference.36

35NeuroOne Medical Technologies Corporation

~~NeuroOne~~Form ~~Medical Technologies Corporation~~10-Q

~~Form~~Item ~~10-Q~~3. Quantitative and Qualitative Disclosures About Market Risk

~~Item~~Not applicable for smaller 6.reporting ~~Exhibits~~companies.

Exhibit No.		Document
3.1		Certificate of Incorporation of NeuroOne Medical Technologies Corporation (incorporated by reference to Exhibit 3.4 on the Registrant’s Current Report on Form 8-K filed on June 29, 2017).
3.2		Certificate of Amendment to Amended and Restated Certificate of Incorporation of NeuroOne Medical Technologies Corporation (incorporated by reference to Exhibit 3.1 on the Registrant’s Current Report on Form 8-K filed on March 31, 2021).
3.3		Amended and Restated Bylaws of NeuroOne Medical Technologies Corporation (incorporated by reference to Exhibit 3.1 on the Registrant’s Current Report on Form 8-K filed on June 21, 2024).
10.1*		Second Amendment to NeuroOne Medical Technologies Corporation 2021 Incentive Plan
10.2		Underwriting Agreement, dated April 4, 2025, between NeuroOne Medical Technologies Corporation and Ladenburg Thalmann & Co. Inc. (incorporated by reference to Exhibit 1.1 on the Registrant’s Current Report on Form 8-K filed on April 7, 2025).
31.1*		Certification of Principal Executive Officer pursuant to Section 302 of the Sarbanes-Oxley Act of 2002.
31.2*		Certification of Principal Financial Officer pursuant to Section 302 of the Sarbanes-Oxley Act of 2002.
32.1**		Certification of Principal Executive Officer pursuant to Section 906 of the Sarbanes-Oxley Act of 2002.
32.2**		Certification of Principal Financial Officer pursuant to Section 906 of the Sarbanes-Oxley Act of 2002.
101.INS		Inline XBRL Instance Document.
101.SCH		Inline XBRL Taxonomy Extension Schema Document.
101.CAL		Inline XBRL Taxonomy Extension Calculation Linkbase Document.
101.DEF		Inline XBRL Taxonomy Extension Definition Linkbase Document.
101.LAB		Inline XBRL Taxonomy Extension Label Linkbase Document.
101.PRE		Inline XBRL Taxonomy Extension Presentation Linkbase Document.
104		Cover Page Interactive Data File (formatted as Inline XBRL and contained in Exhibit 101)

Item 4. Controls and Procedures

*Evaluation ~~Filed~~of ~~herewith.~~Disclosure Controls ** Documents are furnished and ~~not filed.~~Procedures

36As required by Rule 13a-15(b) of the Securities Exchange Act of 1934, as amended, or the Exchange Act, under the direction of the Chief Executive Officer and the Chief Financial Officer, we have evaluated our disclosure controls and procedures as of the end of the period covered by this Quarterly Report on Form 10-Q. Based on this evaluation, our Chief Executive Officer and our Chief Financial Officer have concluded that our disclosure controls and procedures were not effective at the reasonable assurance level as of March 31, 2026 due to the material weakness in our internal controls over financial reporting as discussed further below that were identified in the Company’s Annual Report on Form 10-K for the year ended September 30, 2025. Notwithstanding this material weakness, our management has concluded that the condensed financial statements included elsewhere in this Quarterly Report present fairly, in all material respects, our financial position, results of operations and cash flows in conformity with generally accepted accounting principles.

~~NeuroOne~~Material ~~Medical Technologies Corporation~~Weakness

~~Form~~The ~~10-Q~~Company identified a material weakness related to insufficient segregation of duties within its accounting and financial reporting functions. Specifically, due to the Company’s limited accounting personnel and organizational structure, certain individuals had the ability to initiate, process, record, and review financial transactions, as well as prepare and post journal entries, without adequate independent review.

~~SIGNATURES~~This material weakness resulted in an increased risk that errors or misstatements in the Company’s financial statements may not be prevented or detected on a timely basis.

~~Pursuant~~However, after giving full consideration to the ~~requirements~~material ofweakness, and the ~~Securities~~additional ~~Exchange~~analyses ~~Act~~and ofother ~~1934,~~procedures ~~the~~that ~~registrant~~we ~~has~~performed ~~duly~~to ~~caused~~ensure that our condensed financial statements included in this Report toon bethis ~~signed~~Form on10-Q, ~~its~~our ~~behalf~~management byhas concluded that our condensed financial statements present fairly, in all material respects, our financial position, results of operations and cash flows for the ~~undersigned~~periods ~~thereunto~~disclosed ~~duly~~in ~~authorized~~conformity with U.S. GAAP.

~~Dated: August~~Remediation ~~14, 2025~~Plans

~~NeuroOne~~Management has been ~~Medical~~implementing ~~Technologies~~and ~~Corporation~~continues to implement measures designed to ensure that control deficiencies contributing to the material weakness are remediated, such that these controls are designed, implemented, and operating effectively. The remediation actions include:

~~By:~~● ~~/s/~~Enhancing ~~David~~policies ~~Rosa~~and ~~David~~procedures ~~Rosa~~to ~~Chief~~retain ~~Executive~~adequate ~~Officer~~documentary ~~(Principal~~evidence ~~Executive~~for ~~Officer)~~certain ~~By:~~management ~~/s/~~review ~~Ronald~~controls ~~McClurg~~over ~~Ronald~~certain ~~McClurg~~business ~~Chief~~processes ~~Financial~~including ~~Officer~~precision ~~(Principal~~of ~~Financial~~review ~~Officer~~ and ~~Principal~~evidence ~~Accounting~~of ~~Officer)~~review procedures performed to demonstrate effective operation of such controls;

37● Segregating key functions within our financial processes supporting our internal controls over financial reporting; and

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●

Continuing to enhance and formalize our accounting, business operations, procedures, and controls to achieve complete, accurate, and timely financial accounting, reporting and disclosures.

The material weakness will not be considered remediated until the applicable controls have operated for a sufficient period of time and management has concluded, through testing, that the controls are effective.

Changes in Internal Control over Financial Reporting

There has not been any change in our internal control over financial reporting (as such term is defined in Rule 13a-15(f) and 15d-15(f) under the Exchange Act) during the period covered by this Quarterly Report on Form 10-Q that has materially affected, or is reasonably likely to materially affect our internal control over financial reporting.

NeuroOne Medical Technologies Corporation

Form 10-Q

PART II – OTHER INFORMATION

Item 1. Legal Proceedings

From time to time, we may be involved in various claims and legal proceedings relating to claims arising out of our operations. We are not currently a party to any legal proceedings that, in the opinion of our management, are likely to have a material adverse effect on our business. Regardless of outcome, litigation can have an adverse impact on us because of defense and settlement costs, diversion of management resources and other factors.

Item 1A. Risk Factors

In addition to the other information set forth elsewhere in this Report, you should carefully consider the factors discussed in Part I, Item 1A “Risk Factors” of the Company’s Annual Report on Form 10-K for the year ended September 30, 2025. Such factors, if they were to occur, could cause our actual results to differ materially from those expressed in our forward-looking statements in this Report, and materially adversely affect our financial condition or future results. Although we are not aware of any other factors that we currently anticipate will cause our forward-looking statements to differ materially from our future actual results, or materially affect the Company’s financial condition or future results, additional risks and uncertainties not currently known to us or that we currently deem to be immaterial might materially adversely affect our actual business, financial condition and/or operating results.

Item 2. Unregistered Sales of Equity Securities and Use of Proceeds

On March 1, 2026, the Company entered into a securities purchase agreement with a newly appointed officer of the Company, David Wambeke, to issue and sell 166,666 shares of the Company’s common stock at a price per share equal to $4.022. The foregoing issuance of securities was made pursuant to the exemption from registration contained in Section 4(a)(2) of the Securities Act.

Item 3. Defaults Upon Senior Securities

None.

Item 4. Mine Safety Disclosures

Not applicable to our Company.

Item 5. Other Information

Rule 10b5-1 Trading Plans – Directors and Section 16 Officers

During the three months ended March 31, 2026, none of the Company’s directors or Section 16 officers adopted or terminated any contract, instruction or written plan for the purchase or sale of Company securities that was intended to satisfy the affirmative defense conditions of Rule 10b5-1(c) of the Exchange Act or any “non-Rule 10b5-1 trading arrangement”.

NeuroOne Medical Technologies Corporation

Form 10-Q

Item 6. Exhibits

Exhibit No.		Document

3.1		Certificate of Incorporation of NeuroOne Medical Technologies Corporation (incorporated by reference to Exhibit 3.4 on the Registrant’s Current Report on Form 8-K filed on June 29, 2017).

3.2		Certificate of Amendment to Amended and Restated Certificate of Incorporation of NeuroOne Medical Technologies Corporation (incorporated by reference to Exhibit 3.1 on the Registrant’s Current Report on Form 8-K filed on March 31, 2021).

3.3		Certificate of Amendment to Amended and Restated Certificate of Incorporation of NeuroOne Medical Technologies Corporation (incorporated by reference to Exhibit 3.1 on the Registrant’s Current Report on Form 8-K filed on April 14, 2026).

3.4		Amended and Restated Bylaws of NeuroOne Medical Technologies Corporation (incorporated by reference to Exhibit 3.1 on the Registrant’s Current Report on Form 8-K filed on June 21, 2024).

10.1		First Amendment to NeuroOne Medical Technologies Corporation 2025 Equity Incentive Plan (incorporated by reference to Exhibit 10.1 on the Registrant’s Current Report on Form 8-K filed on April 3, 2026).

10.2*		Third Amendment to NeuroOne Medical Technologies Corporation 2021 Inducement Plan.

10.3*		Third Amendment to Offer Letter between Christopher Volker and the Registrant, dated April 28, 2026.

10.4		Transition and Release Agreement, by and between the Company and Ronald McClurg, dated April 28, 2026 (incorporated by reference to Exhibit 10.1 on the Registrant’s Current Report on Form 8-K filed on April 30, 2026).

31.1*		Certification of Principal Executive Officer pursuant to Section 302 of the Sarbanes-Oxley Act of 2002.

31.2*		Certification of Principal Financial Officer pursuant to Section 302 of the Sarbanes-Oxley Act of 2002.

32.1**		Certification of Principal Executive Officer pursuant to Section 906 of the Sarbanes-Oxley Act of 2002.

32.2**		Certification of Principal Financial Officer pursuant to Section 906 of the Sarbanes-Oxley Act of 2002.

101.INS		Inline XBRL Instance Document.

101.SCH		Inline XBRL Taxonomy Extension Schema Document.

101.CAL		Inline XBRL Taxonomy Extension Calculation Linkbase Document.

101.DEF		Inline XBRL Taxonomy Extension Definition Linkbase Document.

101.LAB		Inline XBRL Taxonomy Extension Label Linkbase Document.

101.PRE		Inline XBRL Taxonomy Extension Presentation Linkbase Document.

104		Cover Page Interactive Data File (formatted as Inline XBRL and contained in Exhibit 101)

*	Filed herewith.

**	Documents are furnished and not filed.

NeuroOne Medical Technologies Corporation

Form 10-Q

SIGNATURES

Pursuant to the requirements of the Securities Exchange Act of 1934, the registrant has duly caused this Report to be signed on its behalf by the undersigned thereunto duly authorized.

Dated: May 12, 2026

NeuroOne Medical Technologies Corporation

By:	/s/ David Rosa
	David Rosa
	Chief Executive Officer
	(Principal Executive Officer)

By:	/s/ Ronald McClurg
	Ronald McClurg
	Chief Financial Officer
	(Principal Financial Officer and Principal Accounting Officer)

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