{"url_path":"/sec/cik-0001479915/10-q/2026/item-1a","section_key":"item-1a","section_title":"Item 1A Risk Factors.**","topic":"sec","document":{"doc_type":"10-Q","doc_date":"2026-05-14","source_url":"https://www.sec.gov/Archives/edgar/data/1479915/0001493152-26-023151-index.html","accession_number":"0001493152-26-023151","cik":"0001479915","ticker":null,"issuer_name":"CQENS Technologies Inc.","edgar_url":"https://www.sec.gov/Archives/edgar/data/1479915/0001493152-26-023151-index.html","primary_entity_key":"0001479915","primary_entity_name":"CQENS Technologies Inc."},"word_count":625,"has_tables":true,"body_markdown":"**Item\n1A. Risk Factors.**\n\n \n\nIn\naddition to the other information set forth in this report you should carefully consider the risk factors in Part I, Item 1A in our 2025\n10-K, which could materially affect our business, financial condition or future results. These cautionary statements are to be used as\na reference in connection with any forward-looking statements, written or oral, which may be made or otherwise addressed in connection\nwith a forward-looking statement or contained in any of our subsequent filings with the Securities and Exchange Commission.\n\n \n\n*We may be unsuccessful in our\nefforts to commercialize and grow HnB products in existing and new markets, and government regulation may prohibit or significantly\nrestrict the commercialization of these products or the communication of scientifically substantiated information and\nclaims.*\n\n** **\n\nOur\npriority is the development, commercialization and growth of our HnB technology and if these efforts are not successful, in key markets\nor systematically, our financial results and future growth prospects may be materially adversely impacted. If other market participants\nare more successful in these efforts or if HnB categories are inequitably regulated compared to cigarettes or other HnB categories without\nregard to the totality of the scientific evidence available for such products, we may be at a competitive disadvantage. In addition,\nactions of some market participants, such as the inappropriate marketing of e-vapor products to youth, as well as alleged health consequences\nassociated with the use of certain HnB products, may unfavorably impact public opinion and/or mischaracterize the health consequences\nof our HnB products to consumers, regulators and policy makers without regard to the totality of scientific evidence available for specific\nproducts. This may impede our efforts to advocate for the development and maintenance of science-based regulatory frameworks for the\ndevelopment and commercialization of HnB technology. We cannot predict the extent to which regulators will permit - or continue to permit\n- the sale and/or marketing of HnB products and regulatory restrictions have, and could further limit, the development and commercialization\nof our HnB technology.\n\n \n\nAdditionally,\nany claims, regardless of merit, challenging our research and clinical data available to date, may impact the development and maintenance\nof science-based regulatory frameworks for the commercialization of the HnB category and the commercialization of the HnB category in\ngeneral.\n\n \n\nOur\nHnB technology will be designed for, and directed toward, current adult smokers and adult users of nicotine-containing products. We intend\nto make significant efforts to restrict access of our products from underage persons. Despite our efforts, technological, operational,\nregulatory and/or commercial developments might impact the implementation or effectiveness of youth access prevention mechanisms and\nsurrounding infrastructure. If there is significant usage, whether actual or perceived, of our products or competitive products among\nyouth or non-nicotine users, even in situations over which we have no control, our reputation and credibility may suffer, the regulatory\napproach to our products may become more restrictive, and our efforts to advocate for the development of science-based regulatory frameworks\nfor the development and commercialization of HnB technology may be significantly impacted.\n\n \n\n**The\nfinancial and business performance of our HnB products may be unpredictable.**\n\n** **\n\nUpon\ndevelopment and introduction, our HnB devices will compete in relatively new categories, and the pace at which adult smokers adopt them\nmay vary, depending on the competitive, regulatory, fiscal and cultural environment, and other factors in a specific market. There may\nbe periods of accelerated growth and periods of slower growth for these products, the timing and drivers of which may be difficult for\nus to predict. The impact of this lower predictability on our projected results for a specific period may be significant, due to geopolitical\nor macroeconomic events that negatively impact HnB availability or adoption, which in turn may have a material adverse effect on our\nresults of operations."}