Lokahi merger pro forma financials and 1-for-2 reverse stock split

Merger consideration: $34,290,345 of Glucotrack common stock and Series A convertible preferred stock, equal to 2,738,408 common-equivalent shares after the 1-for-15 and 1-for-2 reverse splits; former Lokahi stockholders collectively held 90% of Glucotrack's total issued and outstanding equity.

Purchase price allocation: $25,400,000 of in-process research and development and other identified intangible assets and $15,631,064 of goodwill, against $9,237,993 of liabilities assumed.

Pro forma results: revenue of $0, total operating expenses of $13,561,612 and net loss of $(19,699,822) for the six months ended June 30, 2026; FY2025 pro forma total operating expenses of $24,895,715 and net loss of $(28,135,308).

Pro forma balance sheet as of June 30, 2026: total assets of $54,463,979, total liabilities of $25,302,892, stockholders' equity of $29,161,087, cash and cash equivalents of $10,617,827 and convertible notes at fair value of $11,738,734.

Bridge financing: $5,705,128 face of senior secured convertible notes with an 8% simple coupon and 22% OID due April 14, 2027, plus $4,487,180 face of additional notes on the same terms due May 4, 2027, with related day-one losses of $2,716,171 and $2,162,728.

Equity facilities: $2,000,000 Interim PIPE proceeds issued through 177,778 pre-funded warrants; the company has not sold any shares under the $50,000,000 three-year equity line of credit purchase agreement.

Reverse stock split: 1-for-2 split effective 4:30 p.m. ET on October 23, 2026; no fractional shares issued, authorized common stock unchanged at 250,000,000 shares, ticker remains GCTK and new CUSIP is 45824Q879.

The 8-K includes unaudited pro forma condensed combined financial information prepared under Article 11 of Regulation S-X for the year ended December 31, 2025 and the six months ended June 30, 2026, assuming the merger closed on January 1 of each period, together with a pro forma combined balance sheet as of June 30, 2026 and a preliminary purchase price allocation of $25,400,000 of in-process research and development and other identified intangible assets and $15,631,064 of goodwill.

A 1-for-2 reverse stock split of Glucotrack common stock became effective at 4:30 p.m. ET on October 23, 2026, combining every two shares into one, issuing no fractional shares and reducing shares outstanding from 2,368,237 to approximately 1,184,119 while authorized common stock remained 250,000,000 shares.