TAO Synergies Inc 10-Q for FY2025 Q3

TAO Synergies Inc. (TAOX)

10-Q 2025-11-14 For: 2025-09-30

Added on April 07, 2026

About this 10-Q

TAO Synergies Inc filed this 10-Q on November 14, 2025, covering the quarter ended September 30, 2025 (FY2025 Q3).

Headline figures

Quarter ended September 30, 2025, as reported in this filing, compared with the same period a year earlier where the filing states it.

Revenue: $203.37K
Net loss: $3.92M; compared with a net loss of $5.74M a year earlier
Diluted EPS: -$1.56; compared with -$5.01 a year earlier

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Delaware	46-1585656
(State or other jurisdiction of incorporation or	(I.R.S. Employer
organization)	Identification No.)

1185 Avenue of the Americas, 3rd Floor
New York, New York	10036
(Address of principal executive offices)	(Zip code)

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


	Page
Part I – FINANCIAL INFORMATION	4

Item 1. Financial Statements (Unaudited)	4

Condensed Consolidated Balance Sheets as of September 30, 2025 and December 31, 2024	4

Condensed Consolidated Statements of Operations and Comprehensive Loss for the three and nine months ended September 30, 2025 and 2024	5

Condensed Consolidated Statements of Changes in Stockholders’ Equity for the three and nine months ended September 30, 2025 and 2024	6

Condensed Consolidated Statements of Cash Flows for the nine months ended September 30, 2025 and 2024	8

Notes to Condensed Consolidated Financial Statements	9

Item 2. Management’s Discussion and Analysis of Financial Condition and Results of Operations	39

Item 3. Quantitative and Qualitative Disclosures about Market Risk	49

Item 4. Controls and Procedures	50

Part II – OTHER INFORMATION	51

Item 1. Legal Proceedings	51

Item 1A. Risk Factors	51

Item 2. Unregistered Sales of Equity Securities and Use of Proceeds	64

Item 3. Defaults upon Senior Securities	65

Item 4. Mine Safety Disclosures	65

Item 5. Other Information	65

Item 6. Exhibits	66

Signatures	67


	September 30,		December 31,
	2025		2024
ASSETS

CURRENT ASSETS
Cash and cash equivalents	$	1,445,427	$	17,656,221
Digital assets		15,381,039		—
Prepaid expenses and other current assets		1,522,410		64,633

TOTAL CURRENT ASSETS		18,348,876		17,720,854

Fixed assets, net of accumulated depreciation		10,111		12,925

TOTAL ASSETS	$	18,358,987	$	17,733,779


LIABILITIES AND STOCKHOLDERS’ EQUITY

CURRENT LIABILITIES
Accounts payable	$	949,650	$	317,287
Accrued expenses		92,396		696,980

TOTAL CURRENT LIABILITIES		1,042,046		1,014,267

Warrant liability		646,000		3,766,000
Derivative liability		2,000		6,177,000

TOTAL LIABILITIES		1,690,046		10,957,267

Commitments and contingencies

Series C Convertible redeemable preferred stock, $.0001 par value and $1,000 face value, 1,000,000 shares authorized; 0 and 4,285 shares issued and outstanding at September 30, 2025 and December 31, 2024, respectively. Liquidation preference of $0 as of September 30, 2025.		—		912,830

Series D Convertible redeemable preferred stock, $.0001 par value and $1,000 face value, 1,000,000 shares authorized; 1,204 and 0 shares issued and outstanding at September 30, 2025 and December 31, 2024, respectively. Liquidation preference of $ 1,204,000 plus dividends accrued at 5% per annum of $56,725 as of September 30, 2025.		603,797		—


STOCKHOLDERS’ EQUITY
Common stock - 150,000,000 shares authorized, $0.0001 par value; 4,527,412 shares issued and outstanding as of September 30, 2025 and 1,357,165 shares issued and outstanding as of December 31, 2024.		453		137
Additional paid-in capital		84,531,703		53,027,049
Accumulated other comprehensive income		5,702		5,702
Accumulated deficit		(68,472,714)		(47,169,206)

TOTAL STOCKHOLDERS’ EQUITY		16,065,144		5,863,682

TOTAL LIABILITIES AND STOCKHOLDERS’ EQUITY	$	18,358,987	$	17,733,779


	Three Months Ended		Three Months Ended		Nine Months Ended		Nine Months Ended
	September 30,		September 30,		September 30,		September 30,
	2025		2024		2025		2024
REVENUES:
Revenues from TAO staking	$	203,371	$	—	$	207,333	$	—

OPERATING EXPENSES:
Research and development		54,388		222,897		263,759		1,174,214
General and administrative		1,948,483		1,136,772		5,148,227		3,457,916
Warrant issuance costs		—		618,375		699,845		618,375
TOTAL OPERATING EXPENSES		2,002,871		1,978,044		6,111,831		5,250,505

OPERATING INCOME (LOSS)		(1,799,500)		(1,978,044)		(5,904,498)		(5,250,505)

OTHER INCOME:
Interest income		43,292		300,681		378,424		1,094,584
Share of net loss in equity investment		—		(12,025)		—		(30,475)
Unrealized loss on digital assets		(2,382,129)		—		(2,396,497)		—
Loss on issuance of Series C Preferred Stock		—		(3,812,625)		—		(3,812,625)
Change in fair value of warrant liability		109,090		(218,000)		(13,055,585)		(314,000)
Change in fair value of derivative liability		106,000		(22,000)		(76,000)		1,091,000
TOTAL OTHER INCOME		(2,123,747)		(3,763,969)		(15,149,658)		(1,971,516)

Net income (loss) before income taxes		(3,923,247)		(5,742,013)		(21,054,156)		(7,222,021)

Provision for income taxes		—		—		—		—

Net income (loss)		(3,923,247)		(5,742,013)		(21,054,156)		(7,222,021)

Preferred Stock dividends		45,210		306,725		249,352		680,919

Net income (loss) attributable to common stockholders	$	(3,968,457)	$	(6,048,738)	$	(21,303,508)	$	(7,902,940)

Change in fair value of available for sale debt security		—		5,400		—		4,800

Net comprehensive income (loss)	$	(3,968,457)	$	(6,043,338)	$	(21,303,508)	$	(7,898,140)

PER SHARE DATA:

Basic income (loss) per common share	$	(1.56)	$	(5.01)	$	(9.84)	$	(6.63)

Basic and fully diluted weighted average common shares outstanding		2,549,600		1,206,600		2,164,500		1,192,500


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

For the quarterly period ended September 30, 2025


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

	For the transition period from __________________ to __________________


Title of each class		Trading Symbol(s)		Name of each exchange on which registered


Common Stock, $0.0001 par value per share		TAOX		The Nasdaq Stock Market LLC


	Three Months Ended September 30, 2024
													Additional				Accumulated Other
	Series B Preferred Stock			Series C Preferred Stock			Series D Preferred Stock			Common Stock			Paid-In		Accumulated		Comprehensive
	Shares	Amount		Shares	Amount		Shares	Amount		Shares	Amount		Capital		Deficit		Income (Loss)		Total

Balance July 1, 2024	—	$	—	—	$	—	—	$	—	1,254,309	$	127	$	54,261,123	$	(35,464,950)	$	302	$	18,796,602

Stock based compensation	—		—	—		—	—		—	—		—		3,791		—		—		3,791

Issuance of Preferred Stock	—		—	5,000		—	—		—	—		—		—		—		—		—

Issuance of common stock for consulting fees	—		—	—		—	—		—	1,304		—		4,500		—		—		4,500

Preferred stock dividends paid	—		274,140	—		13,194	—		—	—		—		—		(287,334)		—		(287,334)

Deemed dividend - preferred stock	—		19,392	—		—	—		—	—		—		—		(19,392)		—		(19,392)

Preferred stock redemptions and conversions	—		—	—		—	—		—	100,000		10		341,687		—		—		341,697

Accrual of preferred stock and dividend redemption	—		(293,532)	—		—	—		—	—		—		—		—		—		—

Preferred stock accretion	—		—	—		301,279	—		—	—		—		(301,279)		—		—		(301,279)

Comprehensive income	—		—	—		—	—		—	—		—		—		—		5,400		5,400

Net loss	—		—	—		—	—		—	—		—		—		(5,742,013)		—		(5,742,013)

Balance September 30, 2024	—	$	—	5,000	$	314,473	—	$	—	1,355,613	$	137	$	54,309,822	$	(41,513,689)	$	5,702	$	12,801,972


	Three Months Ended September 30, 2025
													Additional				Accumulated Other
	Series B Preferred Stock			Series C Preferred Stock			Series D Preferred Stock			Common Stock			Paid-In		Accumulated		Comprehensive
	Shares	Amount		Shares	Amount		Shares	Amount		Shares	Amount		Capital		Deficit		Income (Loss)		Total

Balance July 1, 2025	—	$	—	223	$	267,761	5,500	$	446,942	2,504,911	$	251	$	81,747,969	$	(64,504,257)	$	5,702	$	17,249,665

Stock based compensation	—		—	—		—	—		—	—		—		53,774		—		—		53,774

Exercise of investor warrants	—		—	—		—	—		—	512,699		51		1,530,406		—		—		1,530,457

Issuance of Series D preferred stock and warrants	—		—	—		—	—		—	—		—		—		—		—		—

Issuance of common stock for consulting fees	—		—	—		—	—		—	727		—		4,500		—		—		4,500

Issuance of warrants for consulting fees	—		—	—		—	—		—	—		—		1,039,089		—		—		1,039,089

Preferred stock dividends	—		—	—		—	—		45,210	—		—		—		(45,210)		—		(45,210)

Deemed dividends on preferred stock	—		—	—		—	—		—	—		—		—		—		—		—

Preferred stock redemptions and conversions	—		—	(223)		(267,761)	(4,296)		(1,078,832)	1,509,075		151		1,346,442		—		—		1,346,593

Preferred stock accretion	—		—	—		—	—		1,190,477	—		—		(1,190,477)		—		—		(1,190,477)

Net income	—		—	—		—	—		—	—		—		—		(3,923,247)		—		(3,923,247)

Balance September 30, 2025	—	$	—	—	$	—	1,204	$	603,797	4,527,412	$	453	$	84,531,703	$	(68,472,714)	$	5,702	$	16,065,144


	Nine Months Ended September 30, 2024
													Additional				Accumulated Other
	Series B Preferred Stock			Series C Preferred Stock			Series D Preferred Stock			Common Stock			Paid-In		Accumulated		Comprehensive
	Shares	Amount		Shares	Amount		Shares	Amount		Shares	Amount		Capital		Deficit		Income		Total

Balance January 1, 2024	6,000	$	1,236,940	—	$	—	—	$	—	963,389	$	96	$	57,957,008	$	(33,610,748)	$	902	$	24,347,258

Stock based compensation	—		—	—		—	—		—	—		—		21,618		—		—		21,618

Issuance of Preferred Stock	—		—	5,000		—	—		—	—		—		—		—		—		—

Issuance of common stock for consulting fees	—		—	—		—	—		—	18,005		3		113,498		—		—		113,501

Preferred stock dividends paid	—		396,640	—		13,194	—		—	—		—		—		(409,834)		—		(409,834)

Deemed dividends on preferred stock	—		271,086	—		—	—		—	—		—		—		(271,086)		—		(271,086)

Preferred stock redemptions and conversions	(2,000)		(1,088,630)	—		—	—		—	374,219		38		1,430,289		—		—		1,430,327

Accrual of preferred stock and dividend redemption	(4,000)		(5,727,348)	—		—	—		—	—		—		—		—		—		—

Preferred stock accretion	—		4,911,312	—		301,279	—		—	—		—		(5,212,591)		—		—		(5,212,591)

Change in fair value of convertible note receivable - investment in debt security	—		—	—		—	—		—	—		—		—		—		4,800		4,800

Net loss	—		—	—		—	—		—	—		—		—		(7,222,021)		—		(7,222,021)

Balance September 30, 2024	—	$	—	5,000	$	314,473	—	$	—	1,355,613	$	137	$	54,309,822	$	(41,513,689)	$	5,702	$	12,801,972


	Nine Months Ended September 30, 2025
													Additional				Accumulated Other
	Series B Preferred Stock			Series C Preferred Stock			Series D Preferred Stock			Common Stock			Paid-In		Accumulated		Comprehensive
	Shares	Amount		Shares	Amount		Shares	Amount		Shares	Amount		Capital		Deficit		Income		Total

Balance January 1, 2025	—	$	—	4,285	$	912,830	—	$	—	1,357,165	$	137	$	53,027,049	$	(47,169,206)	$	5,702	$	5,863,682

Stock based compensation	—		—	—		—	—		—	73,971		7		639,590		—		—		639,597

Exercise of investor warrants	—		—	—		—	—		—	674,707		67		2,014,716		—		—		2,014,783

Issuance of Series D preferred stock and warrants	—		—	—		—	5,500		105,341	—		—		157,442		—		—		157,442

Issuance of common stock for consulting fees	—		—	—		—	—		—	35,244		3		113,613		—		—		113,616

Issuance of warrants for consulting fees	—		—	—		—	—		—	—		—		1,763,319		—		—		1,763,319

Preferred stock dividends	—		—	—		80,363	—		62,016	—		—		—		(142,379)		—		(142,379)

Deemed dividends on preferred stock	—		—	—		106,973	—		—	—		—		—		(106,973)		—		(106,973)

Preferred stock redemptions and conversions	—		—	(4,285)		(4,851,157)	(4,296)		(1,078,832)	2,386,325		239		4,294,589		—		—		4,294,828

Preferred stock accretion	—		—	—		3,407,659	—		1,515,272	—		—		(4,922,931)		—		—		(4,922,931)

Modification of Series C Preferred Stock	—		—	—		343,332	—		—	—		—		6,017,668		—		—		6,017,668

Reclassification of warrants upon amendment	—		—	—		—	—		—	—		—		21,426,648		—		—		21,426,648

Net loss	—		—	—		—	—		—	—		—		—		(21,054,156)		—		(21,054,156)

Balance September 30, 2025	—	$	—	—	$	—	1,204	$	603,797	4,527,412	$	453	$	84,531,703	$	(68,472,714)	$	5,702	$	16,065,144


	Nine Months Ended		Nine Months Ended
	September 30, 2025		September 30, 2024
CASH FLOW USED IN OPERATING ACTIVITIES
Net income (loss)	$	(21,054,156)	$	(7,222,021)
Adjustments to reconcile net loss to net cash used by operating activities
Stock based compensation		639,590		21,618
Non-cash revenue from digital assets		(207,333)		—
Unrealized loss on digital assets		2,396,497		—
Warrant issuance costs		699,845		618,375
Loss on issuance of Series C Convertible Preferred Stock		—		3,812,625
Change in fair value of warrant liability		13,055,585		314,000
Change in fair value of derivative liability		76,000		(1,091,000)
Share of net loss in equity investment		—		30,475
Consulting services paid by issuance of common stock		113,616		113,501
Consulting services paid by issuance of warrants		418,773		—
Depreciation expense		2,814		4,405
Change in assets and liabilities:
(Increase) decrease in prepaid expenses and other current assets		(113,223)		221,531
Increase (decrease) in accounts payable		632,363		(158,283)
Decrease in accrued expenses		(604,584)		(381,349)
		17,109,943		3,505,898

Net Cash Used in Operating Activities		(3,944,213)		(3,716,123)

CASH FLOWS USED IN INVESTING ACTIVITIES
Purchase of available for sale debt security		—		(1,000,000)
Purchase of crypto currency		(17,570,203)		—

Net Cash Used in Investing Activities		(17,570,203)		(1,000,000)

CASH FLOWS FROM FINANCING ACTIVITIES
Proceeds from investor warrant exercises		2,014,783		—
Net proceeds from Series C Convertible Preferred Stock offering		—		4,463,000
Net proceeds from Series D Convertible Preferred Stock offering		4,924,000		—
Redemption of Series B Convertible Preferred Stock		—		(7,831,677)
Redemption of Series C Convertible Preferred Stock		(1,430,000)		—
Dividends on Series B Convertible Preferred Stock		—		(950,918)
Dividends on Series C Convertible Preferred Stock		(205,161)		—

Net Cash Provided by (Used in) Financing Activities		5,303,622		(4,319,595)

NET DECREASE IN CASH AND EQUIVALENTS		(16,210,794)		(9,035,718)

CASH AND EQUIVALENTS AT BEGINNING OF PERIOD		17,656,221		28,661,498

CASH AND EQUIVALENTS AT END OF PERIOD	$	1,445,427	$	19,625,780

DISCLOSURES OF NON-CASH INVESTING AND FINANCING ACTIVITIES:

Issuance of Common Stock for Series B Convertible Preferred Stock installment conversions	$	—	$	1,430,327
Accretion of Series B Convertible Preferred Stock to redemption value	$	—	$	4,911,312
Accretion of Series C Convertible Preferred Stock to redemption value	$	3,407,659	$	301,279
Accretion of Series D Convertible Preferred Stock to redemption value	$	1,515,272	$	—
Accrual of Series B Convertible Preferred Stock and Dividend Redemption	$	—	$	5,727,348
Warrant liability upon issuance of Series C Convertible Preferred stock	$	—	$	2,797,000
Warrant liability upon issuance of Series D Convertible Preferred stock	$	5,248,062	$	—
Reclassification of warrant liability	$	21,426,648	$	—
Derivative liability upon issuance of Series C Convertible Preferred stock	$	—	$	6,096,000
Derivative liability upon issuance of Series D Convertible Preferred stock	$	113,000	$	—
Reclassification of derivative liability	$	6,361,000	$	—
Series C Convertible Preferred Stock conversions and redemptions	$	4,294,589	$	—
Issuance of Consultant Warrants	$	1,763,319	$	—
Change in fair value of available for sale debt security	$	—	$	4,800


	For the Three Months Ended		For the Nine Months Ended
	September 30,		September 30,
	2025	2024	2025	2024
Common Stock Options	79,186	32,751	49,153	31,718
Convertible Preferred Stock	1,209,051	1,253,299	1,255,771	1,253,299
Common Stock Warrants	4,696,939	433,780	2,907,340	384,643
Total	5,985,175	1,719,830	4,212,264	1,669,660


Assets	Tokens	Cost Basis		Fair Market Value		Unrealized Loss
Staked TAO	48,442.93	$	16,900,162	$	14,794,570	$	2,313,025
Un-staked TAO	1,920.33		669,941		586,469		83,472
Totals	50,363.26	$	17,570,103	$	15,381,039	$	2,396,497


				Weighted-
				Average	Aggregate
		Weighted-		Remaining	Intrinsic
	Number	Average		Contractual	Value
	of	Exercise		Term	(in
	Shares	Price		(Years)	thousands)
Options outstanding at January 1, 2025	32,874	$	139.27	7.8	$	3.7
Options granted	76,400	$	10.13	9.8		10.3
Less options forfeited	—	$	—	—		—
Less options expired/cancelled	—	$	—	—		—
Less options exercised	—	$	—	—		—
Options outstanding at September 30, 2025	109,274	$	48.98	8.9	$	14.0
Options exercisable at September 30, 2025	32,874	$	139.27	7.0	$	0.1


Balance of Digital Assets as of January 1, 2025	$	—
Number of TAO tokens purchased and earned as of September 30, 2025		50,363.2594
Value per token as of September 30, 2025	$	305.40
Original fair value of TAO investments and staking rewards earned as of September 30, 2025	$	15,381,039
Amount earned as of September 30, 2025	$	(207,433)
Amount invested as of September 30, 2025	$	(17,570,103)
Net change	$	(2,396,497)


	For the Three and Nine Months Ended		For the three and Nine Months Ended
	September 30,		September 30,
	2025	2025	2024	2024
Asset	Token Rewards	Revenue	Token Rewards	Revenue
TAO – Nine Months	678.89	207,333	—	—
TAO – Three Months	667.05	203,371	—	—


		Number
		of shares
Warrants outstanding and exercisable December 31, 2024		1,610,898
Warrants issued		3,617,504
Warrants exercised		(674,707)
Warrants expired		—
Warrants outstanding September 30, 2025		4,553,695
Warrants exercisable September 30, 2025		3,953,695


		September 30,		December 31,
Description	Level	2025		2024
Liabilities:
Warrant liability (Note 6)	3	$	646,000	$	3,766,000
Derivative liability (Note 6)	3	$	2,000	$	6,177,000


Balance on December 31, 2024	$	310,000
Change in fair value of warrant liabilities		336,000
Balance on September 30, 2025	$	646,000


Balance on December 31, 2024	$	3,456,000
Change in fair value of warrant liabilities		5,114,270
Reclassification of warrant liability upon amendment		(8,570,270)
Balance on September 30, 2025	$	—


Balance on December 31, 2024	$	—
Fair value of warrant liabilities upon issuance		5,248,062
Change in fair value of warrant liabilities		7,608,316
Reclassification of warrant liability upon amendment		(12,856,378)
Balance on September 30, 2025	$	—


Balance on December 31, 2024	$	6,177,000
Change in fair value from January 1, 2025 to June 9, 2025		222,000
Balance on June 9, 2025 prior to amendment		6,399,000
Change in fair value of derivative liability Series C Preferred Stock based upon amendment		(6,361,000)
Balance on June 9, 2025 after amendment		38,000
Change in fair value of derivative liability from June 9, 2025 to June 30, 2025		(37,000)
Balance on June 30, 2025		1,000
Change in fair value of derivative liability third quarter 2025		(1,000)
Balance September 30, 2025	$	—


Balance on December 31, 2024	$	—
Fair value of derivative liability upon issuance		113,000
Change in fair value of derivative liability Series D Preferred Stock		(111,000)
Balance on September 30, 2025	$	2,000


	For the Three Months Ended September 30,				For the Nine Months Ended September 30,
	2025		2024		2025		2024
External clinical development expenses	$	27,305	$	145,379	$	137,953	$	932,274
Personnel related and stock-based compensation		13,279		60,047		70,372		192,147
Other research and development expenses		13,804		17,471		55,444		49,793
Total research and development expenses	$	54,388	$	222,897	$	263,769	$	1,174,214


	Three Months ended
	September 30,				Dollar
	2025		2024		Change		% Change
Staking revenue	$	203,371		—	$	203,371	NA
Operating Expenses:
Research and development expenses	$	54,388	$	222,897	$	(168,509)	(75.6)	%
General and administrative expenses	$	1,948,483	$	1,136,772	$	811,711	71.4	%
Warrant issuance costs	$	—	$	618,375	$	(618,375)	NA
Other expense, net	$	(2,123,747)	$	(3,763,969)	$	1,640,222	(43.6)	%
Net loss	$	(3,923,247)	$	(5,742,013)	$	1,818,766	(31.7)	%


	Nine Months Ended September 30,
	2025		2024
Cash used in operating activities	$	3,944,213	$	3,716,123
Cash used in investing activities	$	17,570,203	$	1,000,000
Cash provided by (used in) financing activities	$	5,303,622	$	(4,319,595)

Exhibit Number
3.1		Certificate of Designations for the Series D Convertible Preferred Stock (incorporated by reference to Exhibit 3.1 to our Registration Statement on Form S-3 filed on July 11, 2025).

3.2		Certificate of Designations for the Series E Convertible Preferred Stock (incorporated by reference to Exhibit 3.1 to our Registration Statement on Form S-3 filed on November 12, 2025).

3.3		Certificate of Amendment to the Amended and Restated Certificate of Incorporation (incorporated by reference to Exhibit 3.1 to our Current Report on Form 8-K, filed on June 27, 2025).

3.4		Amended and Restated Bylaws of TAO Synergies Inc. (incorporated by reference to Exhibit 3.3 to our Quarterly Report on Form 10-Q, filed on August 14, 2025).

4.1**		Form of Consultant Warrant.

10.1**		Consulting Services Agreement by and among the Company, OSS Capital LLC and Joseph Jacks.

31.1		Certification of the President and Chief Executive Officer pursuant to Rule 13a-14(a) under the Securities Exchange Act of 1934, as adopted pursuant to Section 302 of the Sarbanes-Oxley Act of 2002.

31.2		Certification of the Chief Financial Officer pursuant to Rule 13a-14(a) under the Securities Exchange Act of 1934, as adopted pursuant to Section 302 of the Sarbanes-Oxley Act of 2002.

32*		Certification of the Principal Executive Officer and Principal Financial Officer pursuant to 18 U.S.C. Section 1350, as adopted pursuant to Section 906 of the Sarbanes-Oxley Act of 2002.

101		The following financial information from this Quarterly Report on Form 10-Q for the period ended September 30, 2025, formatted in iXBRL (Inline Extensible Business Reporting Language): (i) the Condensed Consolidated Statements of Operations; (ii) the Condensed Consolidated Balance Sheets; (iii) the Condensed Consolidated Statements of Cash Flows; and (iv) the Notes to Financial Statements, tagged as blocks of text.

104		Cover Page Interactive Data File (Embedded within the Inline XBRL document and included in Exhibit)


	TAO Synergies Inc.

Date: November 14, 2025	By:	/s/ Joshua N. Silverman
		Joshua N. Silverman
		Executive Chairman of the Board of Directors
		(principal executive officer)

Date: November 14, 2025	By:	/s/ Robert Weinstein
		Robert Weinstein
		Chief Financial Officer, Executive Vice President, Secretary and Treasurer
		(principal financial officer and principal accounting officer)


TAO SYNERGIES INC.

By:
Name:	Joshua Silverman
Title:	Executive Chairman


Name of Investing Entity:


Signature of Authorized Signatory of Investing Entity:


If to the Company:	TAO Synergies Inc.
	1185 Avenue of the Americas, 3^rdFloor
	New York, NY 10036
	Attn: Robert Weinstein
	Title: Chief Financial Officer

If to the Consultant:	OSS Capital LLC

If to the Service Provider:	Joe Jacks
	Same as to the Consultant


COMPANY:
TAO Synergies Inc.

By:	/s/ Joshua Silverman
Name: Joshua Silverman
Title: Executive Chairman

CONSULTANT:
OSS Capital LCC

By:	/s/ Joe Jacks
Name: Joe Jacks
Title: Managing Member

SERVICE PROVIDER:
Joe Jacks

By:	/s/ Joe Jacks
Name:Joe Jacks