# EDGAR Filing Document

**Accession Number:** 0001938109
**File Stem:** 0001493152-26-003081
**Filing Date:** 2026-1
**Character Count:** 27432
**Document Hash:** 9122783eb1fa9363d0b27f03ae90eff0
**Contains OCR:** False
**Source Format:** 

## Filing Content

## Filing Summary
**0001493152-26-003081.hdr.sgml**: 20260121

**ACCESSION NUMBER**: 0001493152-26-003081

**CONFORMED SUBMISSION TYPE**: S-8

**PUBLIC DOCUMENT COUNT**: 20

**FILED AS OF DATE**: 20260121

**DATE AS OF CHANGE**: 20260121

**EFFECTIVENESS DATE**: 20260121

**FILER**: 

**COMPANY DATA:**
- **COMPANY CONFORMED NAME:** Pineapple Financial Inc.
- **CENTRAL INDEX KEY:** 0001938109
- **STANDARD INDUSTRIAL CLASSIFICATION:** FINANCE SERVICES [6199]
- **ORGANIZATION NAME:** 02 Finance
- **EIN:** 000000000
- **STATE OF INCORPORATION:** A1

**FILING VALUES:**
- **FORM TYPE:** S-8
- **SEC ACT:** 1933 Act
- **SEC FILE NUMBER:** 333-292853
- **FILM NUMBER:** 26547828

**BUSINESS ADDRESS:**
- **ADDRESS IS A NON US LOCATION:** YES
- **STREET 1:** 111 GORDON BAKER ROAD, SUITE 200
- **CITY:** NORTH YORK
- **PROVINCE COUNTRY:** A1
- **ZIP:** M2H3R1
- **BUSINESS PHONE:** 416-371-0835

**MAIL ADDRESS:**
- **ADDRESS IS A NON US LOCATION:** YES
- **STREET 1:** 111 GORDON BAKER ROAD, SUITE 200
- **CITY:** NORTH YORK
- **PROVINCE COUNTRY:** A1
- **ZIP:** M2H3R1

**As filed with the Securities and Exchange Commission on January 21, 2026**

**Registration No. 333-** 

**UNITED STATES**

**SECURITIES AND EXCHANGE COMMISSION**

**WASHINGTON, DC 20549**

**FORM S-8**

**REGISTRATION STATEMENT**

**UNDER**

**THE SECURITIES ACT OF 1933**

**PINEAPPLE FINANCIAL INC.**

(Exact Name of Registrant as Specified in Its Charter)

---

| | |
|:---|:---|
| **Canada** | **Not applicable** |
| (State or other Jurisdiction of<br> Incorporation or Organization) | (I.R.S Employer<br> Identification Number) |

---

---

| | |
|:---|:---|
| **Unit 200, 111 Gordon Baker Road**<br>**North York, Ontario** | <br>**M2H 3R1** |
| (Address of Principal Executive Offices) | (Zip Code) |

---

**2022 OMNIBUS EQUITY INCENTIVE COMPENSATION PLAN**

(Full Title of the Plans)

**Shubha Dasgupta**

**Chief Executive Officer**

**Unit 200, 111 Gordon Baker Road**

**North York, Ontario M2H 3R1**

**Tel: (416) 669-2046**

(Name, Address and Telephone Number of Agent for Service)

**Copy to:**

**Darrin Ocasio, Esq.**

**Sichenzia Ross Ference Carmel LLP**

**1185 Avenue of the Americas, 31<sup>st</sup> Floor**

**New York, NY 10036**

**Telephone: (212) 930-9700**

**Facsimile: (212) 930-9725**

Indicate by check mark whether the registrant is a large accelerated filer, an accelerated filer, a non-accelerated filer, or 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 ☐ Accelerated filer ☐ <br> Non-accelerated filer ☒ Smaller reporting company ☒ <br> 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 7(a)(2)(B) of the Securities Act. ☐

**EXPLANATORY NOTE**

This Registration Statement on Form S-8 is being filed by Pineapple Financial Inc. (the "**Company**"), to register a total of 2,598,864 of the Company's common shares, no par value (the "**Common Shares**") issued or issuable pursuant to the Company's 2022 Omnibus Equity Incentive Compensation Plan (the "**2022 Plan**").

**PART I**

**INFORMATION REQUIRED IN THE SECTION 10(a) PROSPECTUS**

**Item 1. Plan Information.**

Not required to be filed with this Registration Statement.

**Item 2. Registrant Information and Employee Plan Annual Information.**

Not required to be filed with this Registration Statement.

**PART II**

**INFORMATION REQUIRED IN THE REGISTRATION STATEMENT**

**Item 3. Incorporation of Documents by Reference.**

The following documents filed by the Registrant with the Commission are incorporated herein by reference (excluding any portions of such documents that have been "furnished" but not "filed" for purposes of the Securities Exchange Act of 1934, as amended (the "Exchange Act")):

● Our Annual Report on [Form 10-K](https://www.sec.gov/Archives/edgar/data/1938109/000149315225025962/form10-k.htm) and Form [10-K/A](https://www.sec.gov/Archives/edgar/data/1938109/000149315225027511/form10-ka.htm) for the fiscal year ended August 31, 2025, filed with the SEC on December 3, 2025, and December 12, 2025;

● Our Quarterly Report on [Form 10-Q](https://www.sec.gov/Archives/edgar/data/1938109/000149315226002942/form10-q.htm) for the quarter ended November 30, 2025, filed with the SEC on January 21, 2026;

● Our Current Reports on Form 8-K filed with the SEC on, [September 2, 2025](https://www.sec.gov/Archives/edgar/data/1938109/000164117225026153/form8-k.htm), [September 10, 2025](https://www.sec.gov/Archives/edgar/data/1938109/000164117225027066/form8-k.htm), [October 6, 2025](https://www.sec.gov/Archives/edgar/data/1938109/000149315225017119/form8-k.htm), [November 4, 2025](https://www.sec.gov/Archives/edgar/data/1938109/000149315225020721/form8-k.htm), [November 12, 2025](https://www.sec.gov/Archives/edgar/data/1938109/000149315225021901/form8-k.htm), [December 9, 2025](https://www.sec.gov/Archives/edgar/data/1938109/000149315225026845/form8-k.htm) and [December 29, 2025](https://www.sec.gov/Archives/edgar/data/1938109/000149315225029412/form8-k.htm);

● The description of our common shares contained in our Registration Statement on [Form 8-A](https://www.sec.gov/Archives/edgar/data/1938109/000149315223023523/form8a-12b.htm) filed with the SEC on July 06, 2023, including any amendments or reports filed for the purpose of updating such description.

In addition, all documents subsequently filed by the Registrant pursuant to Sections 13(a), 13(c), 14 and 15(d) of the Exchange Act, prior to the filing of the post-effective amendment to this Registration Statement which indicates that all securities offered have been sold or which deregisters all securities then remaining unsold, shall be deemed to be incorporated by reference in this Registration Statement and to be a part hereof from the date of the filing of such documents.

Any statement contained in a document incorporated or deemed to be incorporated by reference herein shall be deemed to be modified or superseded for purposes of this Registration Statement to the extent that a statement contained herein, (or in any other subsequently filed document which also is incorporated or deemed to be incorporated by reference herein), modifies or supersedes such statement. Any such statement so modified or superseded shall not be deemed, except as so modified or superseded, to constitute a part of this Registration Statement.

Under no circumstances will any information filed under current items 2.02 or 7.01 of Form 8-K be deemed incorporated herein by reference unless such Form 8-K expressly provides to the contrary.

You may request a copy of these filings, at no cost, by writing or telephoning the Registrant at:

Unit 200, 111 Gordon Baker Road

North York, Ontario M2H 3R1

Tel: (416) 669-2046

Attn: Investor Relations

You should rely only on the information provided or incorporated by reference in this Registration Statement or any related prospectus. The Registrant has not authorized anyone to provide you with different information. You should not assume that the information in this Registration Statement or any related prospectus is accurate as of any date other than the date on the front of the document.

**Item 4. Description of Securities.**

Not applicable.

**Item 5. Interests of Named Experts and Counsel.**

Not applicable.

**Item 6. Indemnification of Directors and Officers.**

Under the *Canada Business Corporations Act* (the "CBCA"), the Company may indemnify its current or former directors or officers or another individual who acts or acted at its request as a director or officer, or an individual acting in a similar capacity, of another entity, against all costs, charges and expenses, including an amount paid to settle an action or satisfy a judgment, reasonably incurred by the individual in respect of any civil, criminal, administrative, investigative or other proceeding in which the individual is involved because of his or her association with the Company or another entity. The CBCA also provides that the Company may advance moneys to a director, officer or other individual for costs, charges and expenses reasonably incurred in connection with such a proceeding; provided that such individual shall repay the moneys if the individual does not fulfill the conditions described below.

Indemnification is prohibited under the CBCA unless the individual (a) acted honestly and in good faith with a view to the Company's best interests, or the best interests of the other entity for which the individual acted as director or officer or in a similar capacity at the Company's request; and (b) in the case of a criminal or administrative action or proceeding that is enforced by a monetary penalty, the individual had reasonable grounds for believing that the individual's conduct was lawful.

The Company's by-laws provide it shall indemnify, subject to the CBCA, a director or officer of the Company, a former director or officer of the Company or a person who acts or acted at the Company's request as a director or officer of a body corporate of which the Company is or was a shareholder or creditor, and his heirs and legal representatives, against all costs, charges and expenses, including an amount paid to settle an action or satisfy a judgment, reasonably incurred by him in respect of any civil, criminal or administrative action or proceeding to which he is made a party by reason of being or having been a director or officer of the Company or body corporate, if: (a) he acted honestly and in good faith with a view to the best interests of the Company or, as the case may be, to the other body corporate for which the individual acted as a director or officer at the Company's request; and (b) in the case of a criminal or administrative action or proceeding that is enforced by a monetary penalty, he had reasonable grounds for believing that his conduct was lawful.

**Item 7. Exemption from Registration Claimed.**

Not applicable.

**Item 8. Exhibits.**

The Exhibits to this Registration Statement are listed in the Exhibit Index to this Registration Statement, which Exhibit Index is incorporated herein by reference.

**Item 9. Undertakings.**

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(a) The
 undersigned Registrant hereby undertakes:

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(1) To
 file, during any period in which offers or sales are being made, a post-effective amendment
 to the Registration Statement:

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(i) to
 include any prospectus required by Section 10(a)(3) of the Securities Act;

(ii) to
 reflect in the prospectus any facts or events arising after the effective date of the Registration
 Statement (or the most recent post-effective amendment thereof) which, individually or in
 the aggregate, represent a fundamental change in the information set forth in the Registration
 Statement. Notwithstanding the foregoing, any increase or decrease in volume of securities
 offered (if the total dollar value of securities offered would not exceed that which was
 registered) and any deviation from the low or high end of the estimated maximum offering
 range may be reflected in the form of prospectus filed with the Commission pursuant to Rule
 424(b) if, in the aggregate, the changes in volume and price represent no more than 20% change
 in the maximum aggregate offering price set forth in the "Calculation of Registration
 Fee" table in the effective Registration Statement; and

(iii) to
 include any material information with respect to the plan of distribution not previously
 disclosed in the Registration Statement or any material change to such information in the
 Registration Statement.

*provided, however*, that paragraphs (a)(1)(i) and (a)(1)(ii) do not apply if the registration statement is on Form S-8, and the information required to be included in a post-effective amendment by those paragraphs is contained in reports filed with or furnished to the Commission by the Registrant pursuant to Section 13 or Section 15(d) of the Exchange Act that are incorporated by reference in the Registration Statement.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(2) That,
 for the purpose of determining any liability under the Securities Act, each such post-effective
 amendment shall be deemed to be a new registration statement relating to the securities offered
 therein, and the offering of such securities at that time shall be deemed to be the initial
 bona fide offering thereof.

(3) To
 remove from registration by means of a post-effective amendment any of the securities being
 registered which remain unsold at the termination of the offering.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(b) The
 undersigned Registrant hereby undertakes that, for purposes of determining any liability
 under the Securities Act, each filing of the Registrant's annual report pursuant to
 Section 13(a) or Section 15(d) of the Exchange Act (and, where applicable, each filing of
 an employee benefit plan's annual report pursuant to Section 15(d) of the Exchange
 Act) that is incorporated by reference in the Registration Statement shall be deemed to be
 a new registration statement relating to the securities offered therein, and the offering
 of such securities at that time shall be deemed to be the initial bona fide offering thereof.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(c) Insofar
 as indemnification for liabilities arising under the Securities Act may be permitted to directors,
 officers and controlling persons of the Registrant pursuant to the foregoing provisions,
 or otherwise, the Registrant has been advised that in the opinion of the Commission such
 indemnification is against public policy as expressed in the Securities Act and is, therefore,
 unenforceable. In the event that a claim for indemnification against such liabilities (other
 than the payment by the Registrant of expenses incurred or paid by a director, officer or
 controlling person of the Registrant in the successful defense of any action, suit or proceeding)
 is asserted by such director, officer or controlling person in connection with the securities
 being registered, the Registrant will, unless in the opinion of its counsel the matter has
 been settled by controlling precedent, submit to a court of appropriate jurisdiction the
 question whether such indemnification by it is against public policy as expressed in the
 Securities Act and will be governed by the final adjudication of such issue.

**SIGNATURES**

Pursuant to the requirements of the Securities Act of 1933, the Company certifies that it has reasonable grounds to believe that it meets all of the requirements for filing on Form S-8 and has duly caused this Registration Statement to be signed on its behalf by the undersigned, thereunto duly authorized, in the City of North York, Province of Ontario, Canada, on this 21 day of January, 2026

---

| | |
|:---|:---|
| **PINEAPPLE FINANCIAL INC.** | **PINEAPPLE FINANCIAL INC.** |
| By: | */s/ Shubha Dasgupta* |
|  | Shubha Dasgupta |
|  | President and Chief Executive Officer |
| By: | */s/ Sarfraz Habib* |
|  | Sarfraz Habib |
|  | Chief Financial Officer |

---

**POWER OF ATTORNEY**

Each of the undersigned directors and officers of Pineapple Financial Inc., a Canadian corporation, do hereby constitute and appoint Shubha Dasgupta the undersigned's true and lawful attorney and agent, with full power of substitution and resubstituting in each, to do any and all acts and things in our name and on our behalf in our respective capacities as directors and officers and to execute any and all instruments for us and in our names in the capacities indicated below, which said attorneys and agents, or either one of them, may deem necessary or advisable to enable said corporation to comply with the Securities Act, as amended, and any rules, regulations and requirements of the Securities and Exchange Commission, in connection with this registration statement, including specifically, but without limitation, power and authority to sign for us or any of us in our names in the capacities indicated below, any and all amendments (including post-effective amendments) hereto, and each of the undersigned does hereby ratify and confirm all that said attorneys and agents, or either one of them or any substitute, shall do or cause to be done by virtue hereof. This Power of Attorney may be executed in any number of counterparts.

Pursuant to the requirements of the Securities Act of 1933, this registration statement has been signed by the following persons in the capacities and on the date indicated.

---

| | | |
|:---|:---|:---|
| **Signature** | **Title** | **Date** |
| <br> */s/ Shubha Dasgupta* | <br> Chief Executive Officer | <br> January 21, 2026 |
| Shubha Dasgupta<br>| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(Principal Executive Officer)<br>|  |
| */s/ Sarfraz Habib* | Chief Financial Officer | January 21, 2026 |
| Sarfraz Habib | (Principal Accounting and Financial Officer) |  |
| */s/ Kendall Marin* | President; Chief Operating Officer; and Director | January 21, 2026 |
| Kendall Marin |  |  |
| */s/ Drew Green* | Director | January 21, 2026 |
| Drew Green |  |  |
| */s/ Paul Baron* | Director | January 21, 2026 |
| Paul Baron |  |  |
| */s/ Tasis Giannoukakis* | Director | January 21, 2026 |
| Tasis Giannoukakis |  |  |
| */s/ Anthony Georgiades* | Director | January 21, 2026 |
| Anthony Georgiades |  |  |

---

**INDEX TO EXHIBITS**

---

| | |
|:---|:---|
| **Exhibit No.** | **Description** |
| 3.1 | [Articles of Continuance incorporated by reference to Exhibit 3.1 to the Company's Amendment to the Registration Statement on Form S-1 (No. 333-268636) filed with the Securities and Exchange Commission on September 28, 2023.](https://www.sec.gov/Archives/edgar/data/1938109/000149315223017816/ex3-1.htm) |
| 3.2 | [Bylaws incorporated by reference to Exhibit 3.2 to the Company's Amendment to the Registration Statement on Form S-1 (No. 333-268636) filed with the Securities and Exchange Commission on September 28, 2023.](https://www.sec.gov/Archives/edgar/data/1938109/000149315223017816/ex3-2.htm) |
| 10.1 | [2022 Omnibus Equity Incentive Compensation Plan incorporated by reference to Exhibit 10.1 to the Company's Amendment to the Registration Statement on Form S-1 (No. 333-268636) filed with the Securities and Exchange Commission on September 28, 2023.](https://www.sec.gov/Archives/edgar/data/1938109/000149315223017816/ex10-1.htm) |
| 5.1 | [Opinion of Blake, Cassels & Graydon LLP\*](ex5-1.htm) |
| 23.1 | [Consent of MNP LLP\*](ex23-1.htm) |
| 23.2 | [Consent of Blake, Cassels & Graydon LLP (included in Exhibit 5.1) \*](ex5-1.htm) |
| 24.1 | [Power of Attorney (included on signature page) \*](#z_001) |
| 107 | [Filing Fee Table\*](ex107.htm) |

---

\* Filed herewith

## Exhibit 5.1

**Exhibit 5.1**

---

| | |
|:---|:---|
| ![](ex5-1_001.jpg) | ![](ex5-1_002.jpg) |

---

January 20, 2026

Securities and Exchange Commission

100 F Street, N.E.

Washington, DC 20549

RE: Registration Statement on Form S 8 filed by Pineapple Financial Inc. (the "Corporation) with the Securities and Exchange Commission (the "SEC) on January 20, 2026 elating to the 2022 Omnibus Equity Incentive Compensation Plan (the "Plan) of the Corporation

Dear Sir or Madam:

Reference is made to the above captioned Registration Statement on Form S 8 (the Registration Statement") filed by the Corporation on the date hereof with the SEC under the United States Securities Act of 1933, as amended (the "Securities Act) relating to the registration of 2,598,864 ommon hares in the capital of the Corporation (the "Plan Shares") reserved for issuance and delivery under the Plan

We have examined, and are familiar with, and have relied as to factual matters solely upon, originals or copies certified or otherwise identified to our satisfaction of such documents, records, certificates and proceedings and have made such other investigations as we have deemed necessary or appropriate for the purpose of rendering this opinion, including:

---

| | |
|:---|:---|
| (a) | the currently effective articles and by aws of the Corporation |
| (b) | the Plan |
| (c) | a certificate of co p iance of the Corporation dated January 20, 2026; and |
| () | a certificate of Shubha Dasgupta, Chief Executive Officer of the Corporation dated January 20, 2026, as to certain factual matters regarding the Corporation and attaching certain resolutions of the board of directors of the Corporation and the shareholders of the Corporation |

---

For purposes of this opinion, we have assumed with respect to all documents examined by us, the genuineness of all signatures, the authenticity of all documents submitted to us as originals, the conformity to authentic original documents of all documents submitted to us as certified, conformed, notarial, telecopied or photostatic copies and the legal capacity of all individuals who have executed any of such documents.

![](ex5-1_003.jpg)

---

| | |
|:---|:---|
| ![](ex5-1_001.jpg) | Page 2 |

---

We have also assumed the awards granted under the Plan will be or have been duly granted by the board of directors of the Corporation (the "Board"), a Committee of the Board (a "Committee") or pursuant to a delegation of authority granted by the Board or a Committee, all in accordance with the terms of the Plan.

Based upon, and subject to, the foregoing and to the qualifications set forth herein, we are of the opinion that the Plan Shares have been duly authorized and, upon the due settlement, exercise or redemption, as applicable, of awards granted pursuant to the Plan all n accordance with the terms of the Plan and any Award Agreement (as defined in the Plan) will be validly issued as fully paid and non assessable common shares in the capital of the Corporation

The foregoing opinion is limited to the laws of the Province of Ontario and the federal laws of Canada applicable therein and t is given as of the date hereof. We have no responsibility or obligation and disclaim any undertaking to (i) update this opinion letter; (ii) take into account or inform any person of any changes in law, facts or other developments subsequent to this date that do or may affect the opinion we express; or (iii) advise any person of any other change in any matter addressed in this opinion letter. Our opinion expressed herein do not take into account any proposed rules, policies or legislative changes that may come into force following the date hereof.

We express no opinion as to: (i) the enforceability of any waiver of rights under any usury or stay law; or (ii) the effect of fraudulent conveyance, fraudulent transfer, or similar provision of applicable law on the conclusions expressed above.

We hereby consent to the use of our name in the Registration Statement and to the filing of this opinion as Exhibit 5.1 to the Registration Statement. In giving such consent, we do not admit that we come within the category of persons whose consent is required under Section 7 of the Securities Act or the rules and regulations of the SEC thereunder.

---

| |
|:---|
| Your truly, |
| ![](ex5-1_004.jpg) |

---

![](ex5-1_003.jpg)

## Exhibit 23.1

**Exhibit 23.1**

![](ex23-1_001.jpg)

**CONSENT OF INDEPENDENT REGISTERED PUBLIC ACCOUNTING FIRM**

We consent to the incorporation by reference in the Registration Statement on Form S-8 (the "Form S-8"), of our auditor's report dated December 2, 2025 with respect to the consolidated financial statements of Pineapple Financial Inc. as at August 31, 2025 and 2024 and for the years then ended, as included in the Annual Report on Form 10-K of Pineapple Financial Inc., as filed with the United States Securities and Exchange Commission.

/s/ MNP LLP

Chartered Professional Accountants

Licensed Public Accountants

January 14, 2026

Mississauga, Canada

---

| | |
|:---|:---|
| **MNP LLP** |  |
| Suite 900, 50 Burnhamthorpe Road W, Mississauga ON, L5B 3C2 | T: 416.626.6000 F: 416.626.8650 |
| ![](ex23-1_002.jpg) | **MNP.ca** |

---

## Ex-Filing

?xml version='1.0' encoding='ASCII'?

**Exhibit 107**

**Calculation of Filing Fee Table**

**FORM S-8**

**REGISTRATION STATEMENT UNDER THE SECURITIES ACT OF 1933**

(Form Type)

**PINEAPPLE FINANCIAL INC.** 

(Exact Name of Registrant As Specified in its Charter)

Table 1: Newly Registered Securities

---

| | | | | | | | | | | |
|:---|:---|:---|:---|:---|:---|:---|:---|:---|:---|:---|
|  | **Security Type** | **Security Class Title** | **Fee Calculation Rule** | **Amount Registered<sup>(1)</sup>** |  | **Proposed Maximum Offering Price Per Share** |  | **Maximum Aggregate Offering Price** | **Fee Rate** | **Amount of Registration Fee** |
| **Newly Registered Securities** | **Newly Registered Securities** | **Newly Registered Securities** | **Newly Registered Securities** | **Newly Registered Securities** | **Newly Registered Securities** | **Newly Registered Securities** | **Newly Registered Securities** | **Newly Registered Securities** | **Newly Registered Securities** | **Newly Registered Securities** |
| **Fees to Be Paid** | Equity | Common Shares | 457(c) and (h) | 2598864 | (2) | $1.01 | (3) | 2624853 | $0.0001381 | $362.49 |
| **Fees Previously Paid** |  |  |  |  |  |  |  |  |  | 0 |
| **Total Offering Amounts** | **Total Offering Amounts** | **Total Offering Amounts** | **Total Offering Amounts** | **Total Offering Amounts** | **Total Offering Amounts** | **Total Offering Amounts** |  | 2624853 | $- | $362.49 |
| **Total Fees Previously Paid** | **Total Fees Previously Paid** | **Total Fees Previously Paid** | **Total Fees Previously Paid** | **Total Fees Previously Paid** | **Total Fees Previously Paid** | **Total Fees Previously Paid** |  | $- |  | $- |
| **Total Fee Offsets** | **Total Fee Offsets** | **Total Fee Offsets** | **Total Fee Offsets** | **Total Fee Offsets** | **Total Fee Offsets** | **Total Fee Offsets** |  |  |  | $- |
| **Net Fees Due** | **Net Fees Due** | **Net Fees Due** | **Net Fees Due** | **Net Fees Due** | **Net Fees Due** | **Net Fees Due** |  | $- |  | $362.49 |

---

(1) Pursuant
 to Rule 416(a) promulgated under the U.S. Securities Act of 1933, as amended, there are also being registered an indeterminable number
 of additional securities as may be issued to prevent dilution resulting from stock splits, stock dividends, or similar transactions.

(2) Represents
 Common Shares reserved for future issuance under the Company's 2022 Omnibus Equity Incentive Compensation Plan.

(3) Estimated
 solely for the purpose of calculating the registration fee under Rule 457(c) and (h) of the Securities Act on the basis of the average
 of the high and low sales price per Common Share on January 20, 2026, as reported on the NYSE American.