ProtoKinetix, Incorporated is a research and development stage biotechnology company focused on scientific medical research of AFGPs (Anti-Freeze Glycoproteins) or anti-aging glycoproteins, trademarked as AAGPs®. The company has recently been directing major efforts to the practical side of commercial validation, with commercial applications for AAGPs® in large markets such as targeted health care solutions. ProtoKinetix is currently working with researchers, business leaders, advisors, and commercial entities to bring AAGP® to market. The company was incorporated as RJV Network, Inc. under Nevada law on December 23, 1999, and changed its name to ProtoKinetix, Incorporated on July 8, 2003, after entering into an assignment of license agreement with BioKinetix Research, Incorporated for the creation and commercialization of "superantibodies."

The pharmaceutical and biotechnology industries are subject to rapid and substantial technological change, and technological competition from pharmaceutical and biotechnology companies, universities, governmental entities, and others is intense and expected to increase. Many of these entities have significantly greater research and development capabilities, human resources, budgets, marketing, manufacturing, financial, and managerial resources than ProtoKinetix, representing significant competition. The company's competitive position depends on maintaining patent protection and trade secret protection for its products, as well as successfully defending these patents against third-party challenges. The company believes its patents will provide significant protection, though there can be no assurance they will be issued or provide enough protection.

ProtoKinetix currently generates no revenue from operations. The company's business plan is to continue with the development of its intellectual property and to develop a product for sale commercially. The company operates by hiring outside consultants to assist with management, strategic planning, organization, and daily operations, including marketing, accounting, merger opportunities, and research development services. The company relies on numerous collaborative agreements with third parties such as contract research organizations, commercial partners, universities, governmental agencies, and not-for-profit organizations for strategic and financial resources.

The company's core technology is the AAGP® molecule, which consists of three amino acids joined to a monosaccharide by a gemdiflouride bond. Ongoing testing of the AAGP® molecule continues to show significant promise in the field of medicine for preserving cells, tissue, and organs from various stresses. Tests have confirmed that the AAGP® molecule improves the harvest of cells from cryopreservation by 30% to 120% ¹. The company believes there is a market for AAGP® to preserve cells, particularly various stem cells, and will continue testing with potential customers. The company is also taking steps to improve the manufacturing process to reduce costs and improve purity and biochemical activity.

On June 6, 2023, the company announced the submission of a research paper describing cell characterization, graft evaluation, and yield of islet-like cells differentiated from patient-derived iPSCS for the treatment and eventual cure of Type-1 Diabetes for publication in Transplantation. During the year ended December 31, 2025, the company incurred total research and development expenses of $106,613 ² (2024 - $99,625 ³). The company has scaled back on new research and moves toward leveraging positive study findings, with new projects targeted as investments expanding the development of the AAGP® molecule through institutional collaborations and industry partnerships.

Between February 17, 2025 and June 30, 2025, the company issued 17,200,000 ⁴ shares of common stock and warrants to purchase 8,600,000 ⁵ shares of common stock to accredited investors in a private placement for gross proceeds of $167,500 ⁶ and $4,500 ⁷ of services, with each share issued at $0.01 ⁸ per share. Between July 25, 2025 and December 31, 2025, the company issued 17,750,000 ⁹ shares of common stock and warrants to purchase 250,000 ¹⁰ shares of common stock to accredited investors in a private placement for gross proceeds of $30,000 ¹¹, $15,000 ¹² of services, and $132,500 ¹³ of debt settlement.

The company had no revenues for the years ended December 31, 2025 and 2024. The net loss was $393,650 ¹⁴ for the year ending December 31, 2025 compared to $364,188 ¹⁵ for the year ending December 31, 2024. Total operating expenses were $393,650 ¹⁶ in 2025 and $364,188 ¹⁷ in 2024. The company's recurring losses from operations and negative net operating cash flow raise substantial doubt about its ability to continue as a going concern.

Management states that the company will likely continue to require financing to address working capital needs, continue development efforts, support business operations, fund possible continuing operating losses, and respond to unanticipated capital requirements. The company intends to fund the Company and attempt to meet corporate obligations by selling common stock, though the common stock is at a low price and trading is not consistent.

The company is making a concentrated effort to find industry partners to move research forward. New projects will be targeted investments expanding the development of the AAGP® molecule through institutional collaborations and industry partnerships. The company is currently working with researchers, business leaders, advisors, and commercial entities to bring AAGP® to market, with commercial applications in large markets such as targeted health care solutions. The company believes there is a market for AAGP® to preserve cells, particularly various stem cells, and will continue testing with potential customers.

The company is taking steps to improve the manufacturing process to reduce costs and improve purity and biochemical activity. The company has scaled back on new research and moves toward leveraging the positive study findings. Research and development expenses increased by $6,988 ¹⁸ from $99,625 ¹⁹ to $106,613 ²⁰ due to an increase in storage fees for the molecule inventory. General and administrative expenses decreased by $3,335 ²¹ from $61,470 ²² to $58,135 ²³ due to spending cuts in marketing, press releases, and social media exposure.

The company's principal executive office is at 109 W. Main St, Dalton, Ohio 44618, with no lease but rented month to month at $500 ²⁴ per month. The company does not own any real property. The company operates by hiring outside consultants to assist with management, strategic planning, organization, and daily operations. The company's Information Security Team is comprised of the Chief Financial Officer and third-party IT support, with the IT Provider having more than 20 years of experience.

The company does not anticipate paying any cash dividends on its common stock in the foreseeable future and currently intends to retain all future earnings to fund the development and growth of its business. The company may desire to raise capital and/or utilize its common stock to effect strategic business transactions, which would likely require issuing equity or debt securities resulting in dilution to existing stockholders. The company has never paid cash dividends and has no plans to do so in the foreseeable future.

The company faces significant headwinds including a lack of operating history and lack of revenues from operations. The company has no revenues and very limited operating history, with its most significant assets being cash and intellectual property. The company may have difficulty raising needed additional capital due to lack of revenues and inherent business risks. The company's independent public accountants noted that recurring losses from operations and negative net operating cash flow raise substantial doubt about the ability to continue as a going concern.

The company is subject to extensive regulation for safety, efficacy, and quality by numerous government authorities in the United States and abroad. Before receiving FDA or foreign regulatory clearance to market proposed formulations and products, the company must demonstrate that they are safe and effective. Regulatory approvals can take a number of years or longer to accomplish and require the expenditure of substantial financial, managerial, and other resources. The company will have to apply for and obtain all requisite government licenses, registrations, findings of suitability, permits, and approvals necessary to do business in new markets.

The company's stock is not listed on a national securities exchange and is subject to rules governing "penny stocks," which will impair trading activity. The over-the-counter market for the company's stock is subject to extreme price and volume fluctuations. The company's directors and executive officers hold the current right to vote approximately 7.83% ²⁵ of the company's outstanding voting stock, and the heir to the deceased CEO's estate holds approximately 35.8% ²⁶ of outstanding voting stock, which may allow these individuals to exert significant control over the company's decisions.

Management's message emphasizes the company's transition from research toward commercial validation, with a concentrated effort to find industry partners to move research forward. The company has scaled back on new research and moves toward leveraging positive study findings, with new projects targeted as investments expanding the development of the AAGP® molecule through institutional collaborations and industry partnerships. Management acknowledges the company's limited cash position, stating that as of the date of the Annual Report, the company does not believe it has sufficient capital to meet cash flow projections and carry forward business objectives in the short-term, and will need additional working capital to continue medical research or be successful in future business activities. The company intends to fund the Company and attempt to meet corporate obligations by selling common stock, despite the stock being at a low price and trading inconsistently.

The company reported no revenues for the years ended December 31, 2025 and 2024. Net loss for 2025 was $393,650 ³¹ compared to $364,188 ³² in 2024. Net loss per common share (basic and diluted) was $(0.00) ³³ for both years. Total operating expenses were $393,650 ³⁴ in 2025, consisting of amortization of $51,292 ³⁵, general and administrative of $58,135 ³⁶, professional fees of $177,610 ³⁷, research and development of $106,613 ³⁸, and no share-based compensation, compared to total operating expenses of $364,188 ³⁹ in 2024, which included amortization of $52,870 ⁴⁰, general and administrative of $61,470 ⁴¹, professional fees of $144,807 ⁴², research and development of $99,625 ⁴³, and share-based compensation of $5,416 ⁴⁴. The company had cash of $1,118 ⁴⁵ at December 31, 2025, compared to $(4,697) ⁴⁶ at December 31, 2024, and a working capital deficit of $183,266 ⁴⁷ in 2025 versus $127,694 ⁴⁸ in 2024. Net cash used in operating activities was $135,377 ⁴⁹ in 2025 versus $223,050 ⁵⁰ in 2024, net cash used in investing activities was $56,308 ⁵¹ in 2025 versus $58,055 ⁵² in 2024, and net cash provided by financing activities was $197,500 ⁵³ in 2025 versus $256,000 ⁵⁴ in 2024. The company had total assets of $483,374 ⁵⁵ and total liabilities of $185,434 ⁵⁶ at December 31, 2025, with an accumulated deficit of $48,621,796 ⁵⁷. Intangible assets, consisting of patent and patent application rights, were $481,206 ⁵⁸ at December 31, 2025, compared to $469,784 ⁵⁹ at December 31, 2024. The company issued 19,750,000 ⁶⁰ shares of common stock pursuant to private placement offerings for $197,500 ⁶¹, 1,950,000 ⁶² shares in exchange for consulting services valued at $19,500 ⁶³, and 13,250,000 ⁶⁴ shares in exchange for debt settlement valued at $132,500 ⁶⁵ during 2025.

The company has no revenues and very limited operating history, with its most significant assets being cash and intellectual property, and there can be no assurance that funding will be sufficient to bring products to the point of commercialization. The company's independent public accountants noted that recurring losses from operations of $393,650 ²⁷ and $364,188 ²⁸ for the years ended December 31, 2025 and 2024, respectively, and negative net operating cash flow of $135,377 ²⁹ and $223,050 ³⁰ for the same periods, raise substantial doubt about the ability to continue as a going concern. The company may have difficulty raising needed additional capital due to lack of revenues and inherent business risks, and if adequate funds are unavailable, the company may be required to delay, reduce the scope of, or eliminate one or more research, development, or commercialization programs. The company relies on collaborative agreements with third parties for research, development, and testing of AAGP®, and the loss of or failure to perform by partners would substantially disrupt or delay activities. The company's ability to generate revenues depends on obtaining costly government approvals, including FDA approvals, and failure to obtain such approvals could delay or limit introduction of products and result in failure to achieve revenues. The company's stock is not listed on a national securities exchange and is subject to penny stock rules, which impair trading activity, and the over-the-counter market for the stock is subject to extreme price and volume fluctuations.