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Employer\nIdentification No.)*\n\n \n\n3130 Sovereign Drive, Lansing, MI 48911\n\n*(Address of principal executive offices, including zip code)*\n\n \n\nRegistrant’s telephone number, including area code: (517) 252-4069\n\n \n\nSecurities registered pursuant to Section 12(b) of the Act: None\n\n \n\nIndicate by check mark whether the registrant (1) has filed all reports required to be filed by Section 13 or 15(d) of the Securities Exchange Act of 1934 during the preceding 12 months (or for such shorter period that the registrant was required to file such reports), and (2) has been subject to such filing requirements for the past 90 days. Yes ☒ No ☐\n\n \n\nIndicate by check mark whether the registrant has submitted electronically every Interactive Data File required to be submitted pursuant to Rule 405 of Regulation S-T (§232.405 of this chapter) during the preceding 12 months (or for such shorter period that the registrant was required to submit such files). Yes ☒ No ☐\n\n \n\nIndicate by check mark whether the registrant\nis a large accelerated filer, an accelerated filer, a non-accelerated filer, a smaller reporting company, or an emerging growth company.\nSee the definitions of “large accelerated filer,” “accelerated filer,” “smaller reporting company,”\nand “emerging growth company” in Rule 12b-2 of the Exchange Act.\n\n \n\nLarge accelerated filer ☐\nAccelerated filer ☐\n\nNon-accelerated filer ☒Smaller reporting company ☒\n\n Emerging growth company ☒\n\n \n\nIf 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 13(a) of the Exchange Act. ☐\n\n \n\nIndicate by check mark whether the registrant is a shell company (as defined in Rule 12b-2 of the Exchange Act). Yes ☐ No ☒\n\n \n\nAs of May 20, 2026, there were 105,421,312 shares of the registrant’s common stock, par value $0.0001 per share, issued and outstanding.\n\n \n\n \n\n \n\n \n\n \n\n \n\nEXPLANATORY NOTE\n\n \n\nOn April 9, 2026, subsequent to the fiscal quarter ended March 31,\n2026, the fiscal quarter to which this Quarterly Report on Form 10-Q (this “Report”) relates, JDEV Acquisition Corp., a Nevada\ncorporation that is our predecessor (“JDEV”), consummated the previously announced transactions contemplated by the Agreement\nand Plan of Merger and Reorganization (the “Merger Agreement”), by and among JDEV, JDEV Merger Subsidiary, a Delaware corporation\nand wholly owned subsidiary of JDEV (“Merger Sub”), and Ionetix Corporation, a Delaware corporation (“Ionetix”).\nThe Merger Agreement provided for the acquisition of Ionetix by the registrant pursuant to the merger of Merger Sub with and into Ionetix\n(the “Merger”), with Ionetix continuing as the surviving corporation and a wholly owned subsidiary of the registrant.\n\n \n\nIn connection with the closing of the Merger, the registrant changed\nits name from JDEV Acquisition Corp. to Ionetix Corporation. Unless stated otherwise, this Report contains information about JDEV before\nthe Business Combination. References to the “Company,” “our,” “us” or “we” in this Report\nrefer to JDEV before the consummation of the Business Combination or Ionetix Corporation after the Business Combination, as the context\nsuggests.\n\n \n\nExcept as otherwise expressly provided herein, the information in this\nReport does not reflect the consummation of the Merger, which, as discussed above, occurred subsequent to the period covered hereunder. \n\n \n\n \n\n \n\n \n\nTABLE OF CONTENTS\n\n \n\n[PART I -- FINANCIAL INFORMATION](#a_001)\n \n1\n\n \n \n \n\n[Item 1. Financial Statements (Unaudited)](#a_002)\n \n1\n\n \n \n \n\n[Condensed Balance Sheets as of March 31, 2026 (Unaudited) and December 31, 2025](#a_003)\n \n1\n\n \n \n \n\n[Condensed Statements of Operations for the three\nmonths ended March 31, 2026 (Unaudited)](#a_004)\n\n \n2\n\n \n \n \n\n[Condensed Statements of Changes in Stockholders’ (Deficit) Equity (Unaudited)](#a_005)\n \n3\n\n \n \n \n\n[Condensed Statements of Cash Flows for the three months ended March\n31, 2026 (Unaudited)](#a_006)\n \n4\n\n \n \n \n\n[Notes to Condensed Unaudited Financial Statements](#a_007)\n \n5\n\n \n \n \n\n[Item 2. Management’s Discussion and Analysis of Financial Condition and Results of Operations](#a_008)\n \n12\n\n \n \n \n\n[Item 3. Quantitative and Qualitative Disclosures About Market Risk](#a_009)\n \n15\n\n \n \n \n\n[Item 4. Controls and Procedures](#a_010)\n \n15\n\n \n \n \n\n[PART II -- OTHER INFORMATION](#a_011)\n \n16\n\n \n \n \n\n[Item 1. Legal Proceedings](#a_012)\n \n16\n\n \n \n \n\n[Item 1A. Risk Factors](#a_013)\n \n16\n\n \n \n \n\n[Item 2. Unregistered Sales of Equity Securities and Use of Proceeds](#a_014)\n \n16\n\n \n \n \n\n[Item 3. Defaults Upon Senior Securities](#a_015)\n \n16\n\n \n \n \n\n[Item 4. Mine Safety Disclosures](#a_016)\n \n16\n\n \n \n \n\n[Item 5. Other Information](#a_017)\n \n16\n\n \n \n \n\n[Item 6.](#a_018) [Exhibits](#a_018)\n \n16\n\n \n \n \n\n[SIGNATURES](#a_019)\n \n17\n\n \n\ni\n\n \n\n \n\nPART I -- FINANCIAL INFORMATION"}