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<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: right"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt"><B>Registration
No. 333-&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;</B></FONT></P>

<!-- Field: Rule-Page --><DIV STYLE="margin-top: 0pt; margin-bottom: 0pt; width: 100%"><DIV STYLE="font-size: 1pt; border-top: Black 2pt solid; border-bottom: Black 1pt solid"><FONT STYLE="font-family: Times New Roman, Times, Serif">&nbsp;</FONT></DIV></DIV><!-- Field: /Rule-Page -->

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: center"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">&nbsp;</FONT></P>

<P STYLE="font: 18pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt; text-align: center"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt"><B>UNITED
STATES</B></FONT></P>

<P STYLE="font: 18pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt; text-align: center"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt"><B>SECURITIES
AND EXCHANGE COMMISSION</B></FONT></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt; text-align: center"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt"><B>Washington,
D.C. 20549</B></FONT></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt; text-align: center"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">&nbsp;</FONT></P>

<P STYLE="font: 18pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt; text-align: center"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt"><B>FORM
S-1</B></FONT></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt; text-align: center"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt"><B>REGISTRATION
STATEMENT UNDER THE SECURITIES ACT OF 1933</B></FONT></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt; text-align: center"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">&nbsp;</FONT></P>

<P STYLE="font: 18pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt; text-align: center"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt; font-variant: small-caps"><B>CYNGN,
INC.</B></FONT></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt; text-align: center"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">(Exact
name of registrant as specified in its charter)</FONT></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt; text-align: center"><FONT STYLE="font-family: Times New Roman, Times, Serif">&nbsp;</FONT></P>

<TABLE CELLSPACING="0" CELLPADDING="0" STYLE="font: 10pt Times New Roman, Times, Serif; width: 100%; border-collapse: collapse">
  <TR STYLE="vertical-align: top">
    <TD STYLE="border-bottom: Black 1.5pt solid; text-align: center; width: 32%"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt"><B>Delaware</B></FONT></TD>
    <TD STYLE="text-align: center; width: 2%"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">&nbsp;</FONT></TD>
    <TD STYLE="border-bottom: Black 1.5pt solid; text-align: center; width: 32%"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt"><B>7371</B></FONT></TD>
    <TD STYLE="text-align: center; width: 2%"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">&nbsp;</FONT></TD>
    <TD STYLE="border-bottom: Black 1.5pt solid; text-align: center; width: 32%"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt"><B>46-2007094</B></FONT></TD></TR>
  <TR STYLE="vertical-align: top">
    <TD STYLE="text-align: center"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">(State or Other Jurisdiction
    of<BR>
    Incorporation or Organization)</FONT></TD>
    <TD STYLE="text-align: center"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">&nbsp;</FONT></TD>
    <TD STYLE="text-align: center"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">(Primary Standard Industrial
    <BR>
    Classification Code Number)</FONT></TD>
    <TD STYLE="text-align: center"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">&nbsp;</FONT></TD>
    <TD STYLE="text-align: center"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">(I.R.S. Employer<BR>
    Identification No.)</FONT></TD></TR>
  </TABLE>
<P STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt; text-align: center"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">&nbsp;</FONT></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt; text-align: center"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt"><B>1015
O&rsquo;Brien Dr.</B></FONT></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt; text-align: center"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt"><B>Menlo
Park, CA 94025</B></FONT></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt; text-align: center"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt"><B>(650)
924-5905</B></FONT></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt; text-align: center"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">(Address,
including zip code, and telephone number, including area code, of registrant&rsquo;s principal executive offices)</FONT></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt; text-align: center"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">&nbsp;</FONT></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt; text-align: center"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt"><B>Lior
Tal</B></FONT></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt; text-align: center"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt"><B>Chief
Executive Officer</B></FONT></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt; text-align: center"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt"><B>Cyngn
Inc.</B></FONT></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt; text-align: center"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt"><B>1015
O&rsquo;Brien Dr.</B></FONT></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt; text-align: center"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt"><B>Menlo
Park, CA 94025</B></FONT></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt; text-align: center"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt"><B>(650)
924-9505</B></FONT></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt; text-align: center"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">(Name,
address, including zip code, and telephone number, including area code, of agent for service)</FONT></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt; text-align: center"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">&nbsp;</FONT></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt; text-align: center"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt"><U>Copies
to</U>:</FONT></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: center"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">&nbsp;</FONT></P>

<TABLE CELLSPACING="0" CELLPADDING="0" STYLE="font: 10pt Times New Roman, Times, Serif; width: 100%; border-collapse: collapse">
  <TR STYLE="vertical-align: top">
    <TD STYLE="text-align: center; width: 49%"><P STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt; text-align: center"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt"><B>Gregory
                                            Sichenzia, Esq.</B></FONT></P>
    <P STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt; text-align: center"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt"><B>Marcelle
    S. Balcombe, Esq.</B></FONT></P>
    <P STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt; text-align: center"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt"><B>Sichenzia
    Ross Ference Carmel LLP</B></FONT></P>
    <P STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt; text-align: center"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt"><B>1185
    Avenue of the Americas, 31<SUP>st</SUP> Floor</B></FONT></P>
    <P STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt; text-align: center"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt"><B>New
    York, NY 10036</B></FONT></P>
    <P STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt; text-align: center"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt"><B>Telephone:
    (212) 930-9700</B></FONT></P></TD>
    <TD STYLE="width: 2%; text-align: center"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">&nbsp;</FONT></TD>
    <TD STYLE="text-align: center; width: 49%"><P STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt; text-align: center"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt"><B>Anthony
                                            W. Basch, Esq.</B></FONT></P>
    <P STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt; text-align: center"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt"><B>Alexander
    W. Powell, Esq.</B></FONT></P>
    <P STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt; text-align: center"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt"><B>Benming
    Zhang, Esq.</B></FONT></P>
    <P STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt; text-align: center"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt"><B>Kaufman
    &amp; Canoles, P.C.</B></FONT></P>
    <P STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt; text-align: center"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt"><B>1021
    E. Cary St.</B></FONT></P>
    <P STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt; text-align: center"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt"><B>Richmond,
    Virginia 23219</B></FONT></P>
    <P STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt; text-align: center"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt"><B>Tel:
    (804) 771-5700</B></FONT></P></TD></TR>
  </TABLE>
<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">&nbsp;</FONT></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">Approximate
date of commencement of proposed sale to the public: <B>As soon as practicable after the effective date of this Registration Statement.</B></FONT></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">&nbsp;</FONT></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">If
any of the securities being registered on this Form are to be offered on a delayed or continuous basis pursuant to Rule 415 under the
Securities Act of 1933 check the following box. &#9746;</FONT></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">&nbsp;</FONT></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">If
this Form is filed to register additional securities for an offering pursuant to Rule 462(b) under the Securities Act, please check the
following box and list the Securities Act registration statement number of the earlier effective registration statement for the same
offering. &#9744;</FONT></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">&nbsp;</FONT></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">If
this Form is a post-effective amendment filed pursuant to Rule 462(c) under the Securities Act, check the following box and list the
Securities Act registration statement number of the earlier effective registration statement for the same offering. &#9744;</FONT></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">&nbsp;</FONT></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">If
this Form is a post-effective amendment filed pursuant to Rule 462(d) under the Securities Act, check the following box and list the
Securities Act registration statement number of the earlier effective registration statement for the same offering. &#9744;</FONT></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">&nbsp;</FONT></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">Indicate
by check mark whether the registrant is a large accelerated filer, an accelerated filer, a non-accelerated filer, or a smaller reporting
company. See the definitions of &ldquo;large accelerated filer,&rdquo; &ldquo;accelerated filer&rdquo; and &ldquo;smaller reporting company&rdquo;
in Rule 12b-2 of the Exchange Act.</FONT></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">&nbsp;</FONT></P>

<TABLE CELLSPACING="0" CELLPADDING="0" STYLE="font: 10pt Times New Roman, Times, Serif; width: 100%; border-collapse: collapse">
  <TR STYLE="vertical-align: top">
    <TD STYLE="text-align: justify"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">Large accelerated filer
    &#9744;</FONT></TD>
    <TD STYLE="text-align: justify"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">Accelerated filer &#9744;</FONT></TD></TR>
  <TR STYLE="vertical-align: top">
    <TD STYLE="text-align: justify"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">Non-accelerated filer &#9746;</FONT></TD>
    <TD STYLE="text-align: justify"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">Smaller reporting company
    &#9746;</FONT></TD></TR>
  <TR STYLE="vertical-align: top">
    <TD><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">&nbsp;</FONT></TD>
    <TD STYLE="text-align: justify"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">Emerging growth company
    &#9746;</FONT></TD></TR>
  </TABLE>
<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">&nbsp;</FONT></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">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 to Section 7(a)(2)(B) of the Securities Act. &#9744;</FONT></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">&nbsp;</FONT></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt"><B>The
Registrant hereby amends this Registration Statement on such date or dates as may be necessary to delay its effective date until the
Registrant shall file a further amendment which specifically states that this Registration Statement shall thereafter become effective
in accordance with Section 8(a) of the Securities Act of 1933 or until the Registration Statement shall become effective on such date
as the Commission acting pursuant to said Section 8(a), may determine.</B></FONT></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: center"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">&nbsp;</FONT></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: center"></P>

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<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0"><FONT STYLE="font-family: Times New Roman, Times, Serif">&nbsp;</FONT></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; background-color: white"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt; color: Red"><B>THE
INFORMATION IN THIS PRELIMINARY PROSPECTUS IS NOT COMPLETE AND MAY BE CHANGED. THESE SECURITIES MAY NOT BE SOLD UNTIL THE REGISTRATION
STATEMENT FILED WITH THE SECURITIES AND EXCHANGE COMMISSION IS DECLARED EFFECTIVE. THIS PRELIMINARY PROSPECTUS IS NOT AN OFFER TO SELL
THESE SECURITIES AND WE ARE NOT SOLICITING AN OFFER TO BUY THESE SECURITIES IN ANY STATE OR OTHER JURISDICTION WHERE THE OFFER OR SALE
IS NOT PERMITTED.</B></FONT></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt; color: Red">&nbsp;</FONT></P>

<TABLE CELLSPACING="0" CELLPADDING="0" STYLE="font: 10pt Times New Roman, Times, Serif; width: 100%; background-color: white; border-collapse: collapse">
  <TR STYLE="vertical-align: top">
    <TD STYLE="text-align: left; width: 33%"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt; color: Red"><B>PRELIMINARY
    PROSPECTUS</B></FONT></TD>
    <TD STYLE="text-align: center; width: 34%"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt; color: Red"><B>SUBJECT TO
    COMPLETION</B></FONT></TD>
    <TD STYLE="text-align: right; width: 33%"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt; color: Red"><B>DATED NOVEMBER
    27, 2024</B></FONT></TD></TR>
  </TABLE>
<P STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt; text-align: center"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">&nbsp;</FONT></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt; text-align: center"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt"><B>PRELIMINARY
PROSPECTUS</B></FONT></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt; text-align: center"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">&nbsp;</FONT></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt; text-align: center"><FONT STYLE="font-family: Times New Roman, Times, Serif"><B>Up
to 3,062,787 Units, with each Unit consisting of:</B></FONT></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt; text-align: center"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt"><B>One
Share of Common Stock</B></FONT></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt; text-align: center"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt"><B>One
Series A Warrant to Purchase One Share of Common Stock</B></FONT></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt; text-align: center"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt"><B>One
Series B Warrant to Purchase One Share of Common Stock</B></FONT></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt; text-align: center"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt"><B>&nbsp;</B></FONT></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt; text-align: center"><FONT STYLE="font-family: Times New Roman, Times, Serif"><B>Up
to 3,062,787 Pre-Funded Units, with each Pre-Funded Unit consisting of:</B></FONT></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt; text-align: center"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt"><B>One
Pre-Funded Warrant to Purchase One Share of Common Stock</B></FONT></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt; text-align: center"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt"><B>One
Series A Warrant to Purchase One Share of Common Stock</B></FONT></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt; text-align: center"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt"><B>One
Series B Warrant to Purchase one Share of Common Stock</B></FONT></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt; text-align: center"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt"><B>&nbsp;</B></FONT></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt; text-align: center"><FONT STYLE="font-family: Times New Roman, Times, Serif"><B>Up
to 3,062,787 Shares of Common Stock Underlying the Pre-Funded Warrants</B></FONT></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt; text-align: center"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt"><B>Up
to Shares of Common Stock Underlying the Series A Warrants</B></FONT></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt; text-align: center"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt"><B>Up
to Shares of Common Stock Underlying the Series B Warrants</B></FONT></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: center"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt"><B>&nbsp;</B></FONT></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: center"><FONT STYLE="font-family: Times New Roman, Times, Serif"><IMG SRC="image_001.jpg" ALT=""></FONT></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt; text-align: center"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">&nbsp;</FONT><P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify"><FONT STYLE="font-family: Times New Roman, Times, Serif">Cyngn
                                            Inc. (the &ldquo;Company,&rdquo; &ldquo;Cyngn,&rdquo; the &ldquo;registrant,&rdquo; &ldquo;we,&rdquo;
                                            &ldquo;our&rdquo; or &ldquo;us&rdquo;) is offering up to 3,062,787 units (the &ldquo;Units&rdquo;),
                                            each Unit consisting of: (i) one share of common stock; and (ii) one Series A Warrant to
                                            purchase one share of common stock (the &ldquo;Series A Warrants&rdquo;); and (iii) one Series
                                            B Warrant to purchase one share of common stock (the &ldquo;Series B Warrants,&rdquo; together
                                            with the Series A Warrants, the &ldquo;Warrants&rdquo;). Each Series A Warrant is exercisable
                                            at an exercise price of $8.16 per share (125% of the assumed public offering price per Unit),
                                            subject to certain anti-dilution and share combination event protections, and each Series
                                            B Warrant is exercisable at an exercise price of $8.16 per share (125% of the assumed public
                                            offering price per Unit) subject to certain share combination event protections. The Series
                                            A Warrants will be exercisable commencing upon our receipt of the Warrant Stockholder Approval
                                            (described below) and will expire five years after the date of the Warrant Stockholder Approval
                                            and the Series B Warrants will be exercisable commencing upon our receipt of the Warrant
                                            Stockholder Approval and will expire two and one-half years from the date of Warrant Stockholder
                                            Approval. See &ldquo;Description of Securities.&rdquo; We are offering each Unit at an assumed
                                            public offering price of $6.53 per Unit, equal to the closing price of our common stock on
                                            The Nasdaq Capital Market on November&nbsp;21, 2024.</FONT></P>
<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify"><P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">&nbsp;</FONT></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">Under
the alternate cashless exercise option of the Series B Warrants, a holder of the Series B Warrant has the right to receive an aggregate
number of shares equal to the product of (x) the aggregate number of shares of common stock that would be issuable upon a cashless exercise
of the Series B Warrant and (y) three. In addition, the Series A Warrants and Series B Warrants will contain a reset of the exercise
price to a price equal to the lesser of (i) the then exercise price and (ii) lowest volume weighted average price (&ldquo;VWAP&rdquo;)
during the period commencing five trading days immediately preceding and the five trading days commencing on the date we effect a reverse
stock split in the future with a proportionate adjustment to the number of shares underlying the Series A Warrants and Series B Warrants,
among other adjustments. Additionally, the Series A Warrants will provide for an adjustment to the exercise price and number of shares
underlying the Series A Warrants upon our issuance of our common stock or common stock equivalents at a price per share that is less
than the exercise price of the Series A Warrant, subject to certain exceptions.</FONT></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">&nbsp;</FONT></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify"></P>

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<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify"><FONT STYLE="font-family: Times New Roman, Times, Serif">&nbsp;</FONT></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">Finally,
on the 11th trading day after the Warrant Stockholder Approval Date (the &ldquo;Reset Date&rdquo;), the exercise price of the Warrants
will be reset to a price equal to the lower of (i) the exercise price then in effect and (ii) the greater of (a) the lowest daily volume
weighted average price (&ldquo;VWAP&rdquo;) during the period commencing on the first trading day after the Warrant Stockholder Approval
Date and ending following the close of trading on the 10th trading day thereafter (the &ldquo;Reset Period&rdquo;), and (b) the floor
price set forth in the Warrants, and the number of shares issuable upon exercise will be increased such that the aggregate exercise price
of the Warrants on the issuance date for the shares of common stock underlying the Warrants then outstanding shall remain unchanged.</FONT></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">&nbsp;</FONT></P>



<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify"><FONT STYLE="font-family: Times New Roman, Times, Serif">Any
reduction to the exercise prices of the Series A Warrants and the Series B Warrants and resulting increase in the shares of common stock
underlying the Warrants will be subject to a floor price. Prior to the Warrant Stockholder Approval Date, the floor Price shall be equal
to 50% of the Nasdaq Minimum Price at the pricing of this offering and after the Warrant Stockholder Approval date, the floor Price shall
be 20% of the Nasdaq minimum Price.</FONT><P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">&nbsp;</FONT></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">The
Warrants will be exercisable only upon receipt of such stockholder approval as may be required by the applicable rules and regulations
of the Nasdaq Stock Market to permit the exercise of the Warrants (the &ldquo;Warrant Stockholder Approval&rdquo;). In the event that
we are unable to obtain the Warrant Stockholder Approval, the Warrants will not be exercisable and therefore the Warrants may have substantially
less value.</FONT></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">&nbsp;</FONT></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify"><FONT STYLE="font-family: Times New Roman, Times, Serif">We
are also offering the opportunity to purchase, if the purchaser so chooses and in lieu of Units, up to 3,062,787&nbsp;pre-funded units
(the &ldquo;Pre-Funded Units&rdquo;) to purchasers whose purchase of Units in this offering would otherwise result in the purchaser,
together with its affiliates and certain related parties, beneficially owning more than 4.99% (or, at the election of the purchaser,
9.99%) of our outstanding common stock immediately following the consummation of this offering. Each Pre-Funded Unit consists of: (i)
one pre-funded warrant exercisable for one share of common stock (the &ldquo;Pre-Funded Warrants&rdquo;); (ii) one Series A Warrant;
and (iii) one Series B Warrant. The purchase price of each Pre-Funded Unit is equal to the price per Unit being sold to the public in
this offering, minus $0.0001, and the exercise price of each Pre-Funded Warrant included in the Pre-Funded Unit is $0.0001 per share.
The Pre-Funded Warrants will be immediately exercisable and may be exercised at any time until all of the Pre-Funded Warrants are exercised
in full.</FONT></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">&nbsp;</FONT></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">The
common stock and Pre-Funded Warrants, and the accompanying Warrants, as the case may be, can only be purchased together in this offering
but will be issued separately and will be immediately separable upon issuance. Pursuant to the registration statement related to this
prospectus, we are also registering the shares of common stock issuable upon exercise of the Warrants and Pre-Funded Warrants included
in the Units and Pre-Funded Units offered hereby.</FONT></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">&nbsp;</FONT><P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify"><FONT STYLE="font-family: Times New Roman, Times, Serif">Our
                                            common stock is listed on The Nasdaq Capital Market under the symbol &ldquo;CYN.&rdquo; The
                                            last reported sale price of our common stock on The Nasdaq Capital Market on November 26,
                                            2024 was $6.39 per share. There is no established trading market for the Units, Pre-Funded
                                            Units, Warrants or Pre-Funded Warrants and we do not intend to list the Units, Pre-Funded
                                            Units, Warrants or Pre-Funded Warrants on any securities exchange or nationally recognized
                                            trading system.&nbsp;</FONT></P>
<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify"><P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">&nbsp;</FONT></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify"></P>

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<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify"><FONT STYLE="font-family: Times New Roman, Times, Serif">&nbsp;</FONT></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">We
have engaged Aegis Capital Corp. to act as our exclusive placement agent in connection with this offering. The placement agent has agreed
to use its best efforts to arrange for the sale of the securities offered by this prospectus. The placement agent is not purchasing or
selling any of the securities we are offering and the placement agent is not required to arrange the purchase or sale of any specific
number or dollar amount of securities. We have agreed to pay to the placement agent the placement agent fees set forth in the table below,
which assumes that we sell all of the securities offered by this prospectus. There is no arrangement for funds to be received in escrow,
trust or similar arrangement. There is no minimum offering requirement as a condition of closing of this offering. Because there is no
minimum offering amount required as a condition to closing this offering, we may sell fewer than all of the securities offered hereby,
which may significantly reduce the amount of proceeds received by us, and investors in this offering will not receive a refund in the
event that we do not sell an amount of securities sufficient to pursue our business goals described in this prospectus. See &ldquo;<I>Risk
Factors</I>&rdquo; at page 9. We will bear all costs associated with the offering. See &ldquo;<I>Plan of Distribution</I>&rdquo; on page
24 of this prospectus for more information regarding these arrangements.</FONT></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">&nbsp;</FONT></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">The
public offering price for the securities in this offering will be determined at the time of pricing and may be at a discount to the current
market price at the time. Therefore, the assumed public offering price used throughout this prospectus may not be indicative of the final
offering price. The final public offering price will be determined through negotiation between us, the placement agent and the investors
based upon a number of factors, including our history and our prospects, the industry in which we operate, our past and present operating
results, the previous experience of our executive officers and the general condition of the securities markets at the time of this offering.&nbsp;</FONT></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">&nbsp;</FONT></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">We
intend to use the proceeds from this offering for general corporate purposes, including working capital and investments. See &ldquo;<I>Use
of Proceeds</I>.&rdquo;</FONT></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">&nbsp;</FONT></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt"><B>Investing
in the Securities involves a high degree of risk. See &ldquo;<I>Risk Factors</I>&rdquo; beginning on page 9 of this prospectus for a
discussion of information that should be considered in connection with an investment in our common stock.</B></FONT></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">&nbsp;</FONT></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt"><B>Neither
the Securities and Exchange Commission (&ldquo;SEC&rdquo;) nor any state securities commission has approved or disapproved of these securities
or determined if this prospectus is truthful or complete. Any representation to the contrary is a criminal offense.</B></FONT></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">&nbsp;</FONT></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">We
are an &ldquo;emerging growth company&rdquo; as that term is used in the Jumpstart Our Business Startups Act of 2012, and we have elected
to comply with certain reduced public company reporting requirements.</FONT></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">&nbsp;</FONT></P>

<TABLE CELLPADDING="0" CELLSPACING="0" STYLE="border-collapse: collapse; width: 100%; font: 10pt Times New Roman, Times, Serif">
  <TR STYLE="vertical-align: bottom">
    <TD STYLE="text-align: center"><FONT STYLE="font-family: Times New Roman, Times, Serif">&nbsp;</FONT></TD><TD STYLE="text-align: center; font-weight: bold; padding-bottom: 1.5pt"><FONT STYLE="font-family: Times New Roman, Times, Serif">&nbsp;</FONT></TD>
    <TD COLSPAN="2" STYLE="text-align: center; font-weight: bold; border-bottom: Black 1.5pt solid"><FONT STYLE="font-family: Times New Roman, Times, Serif">Per
    Unit</FONT></TD><TD STYLE="text-align: center; padding-bottom: 1.5pt; font-weight: bold"><FONT STYLE="font-family: Times New Roman, Times, Serif">&nbsp;</FONT></TD><TD STYLE="text-align: center; font-weight: bold; padding-bottom: 1.5pt"><FONT STYLE="font-family: Times New Roman, Times, Serif">&nbsp;</FONT></TD>
    <TD COLSPAN="2" STYLE="text-align: center; font-weight: bold; border-bottom: Black 1.5pt solid"><FONT STYLE="font-family: Times New Roman, Times, Serif">Per
    Pre- <BR>
    Funded <BR>
    Unit</FONT></TD><TD STYLE="text-align: center; padding-bottom: 1.5pt; font-weight: bold"><FONT STYLE="font-family: Times New Roman, Times, Serif">&nbsp;</FONT></TD><TD STYLE="text-align: center; font-weight: bold; padding-bottom: 1.5pt"><FONT STYLE="font-family: Times New Roman, Times, Serif">&nbsp;</FONT></TD>
    <TD COLSPAN="2" STYLE="text-align: center; font-weight: bold; border-bottom: Black 1.5pt solid"><FONT STYLE="font-family: Times New Roman, Times, Serif">Total</FONT></TD><TD STYLE="text-align: center; padding-bottom: 1.5pt; font-weight: bold"><FONT STYLE="font-family: Times New Roman, Times, Serif">&nbsp;</FONT></TD></TR>
  <TR STYLE="vertical-align: bottom; background-color: rgb(204,238,255)">
    <TD STYLE="width: 64%"><FONT STYLE="font-family: Times New Roman, Times, Serif">Public offering price</FONT></TD><TD STYLE="width: 1%"><FONT STYLE="font-family: Times New Roman, Times, Serif">&nbsp;</FONT></TD>
    <TD STYLE="width: 1%; text-align: left"><FONT STYLE="font-family: Times New Roman, Times, Serif">$</FONT></TD><TD STYLE="width: 9%; text-align: right"></TD><TD STYLE="width: 1%; text-align: left"><FONT STYLE="font-family: Times New Roman, Times, Serif">&nbsp;</FONT></TD><TD STYLE="width: 1%"><FONT STYLE="font-family: Times New Roman, Times, Serif">&nbsp;</FONT></TD>
    <TD STYLE="width: 1%; text-align: left"><FONT STYLE="font-family: Times New Roman, Times, Serif">$</FONT></TD><TD STYLE="width: 9%; text-align: right"></TD><TD STYLE="width: 1%; text-align: left"><FONT STYLE="font-family: Times New Roman, Times, Serif">&nbsp;</FONT></TD><TD STYLE="width: 1%"><FONT STYLE="font-family: Times New Roman, Times, Serif">&nbsp;</FONT></TD>
    <TD STYLE="width: 1%; text-align: left"><FONT STYLE="font-family: Times New Roman, Times, Serif">$</FONT></TD><TD STYLE="width: 9%; text-align: right"><FONT STYLE="font-family: Times New Roman, Times, Serif">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;</FONT></TD><TD STYLE="width: 1%; text-align: left"><FONT STYLE="font-family: Times New Roman, Times, Serif">&nbsp;</FONT></TD></TR>
  <TR STYLE="vertical-align: bottom; background-color: White">
    <TD STYLE="text-align: left"><FONT STYLE="font-family: Times New Roman, Times, Serif">Placement agent fees<SUP>(1)</SUP></FONT></TD><TD><FONT STYLE="font-family: Times New Roman, Times, Serif">&nbsp;</FONT></TD>
    <TD STYLE="text-align: left"><FONT STYLE="font-family: Times New Roman, Times, Serif">$</FONT></TD><TD STYLE="text-align: right"><FONT STYLE="font-family: Times New Roman, Times, Serif">&nbsp;</FONT></TD><TD STYLE="text-align: left"><FONT STYLE="font-family: Times New Roman, Times, Serif">&nbsp;</FONT></TD><TD><FONT STYLE="font-family: Times New Roman, Times, Serif">&nbsp;</FONT></TD>
    <TD STYLE="text-align: left"><FONT STYLE="font-family: Times New Roman, Times, Serif">$</FONT></TD><TD STYLE="text-align: right"><FONT STYLE="font-family: Times New Roman, Times, Serif">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;</FONT></TD><TD STYLE="text-align: left"><FONT STYLE="font-family: Times New Roman, Times, Serif">&nbsp;</FONT></TD><TD><FONT STYLE="font-family: Times New Roman, Times, Serif">&nbsp;</FONT></TD>
    <TD STYLE="text-align: left"><FONT STYLE="font-family: Times New Roman, Times, Serif">$</FONT></TD><TD STYLE="text-align: right"></TD><TD STYLE="text-align: left"><FONT STYLE="font-family: Times New Roman, Times, Serif">&nbsp;</FONT></TD></TR>
  <TR STYLE="vertical-align: bottom; background-color: rgb(204,238,255)">
    <TD STYLE="text-align: left"><FONT STYLE="font-family: Times New Roman, Times, Serif">Proceeds, before expenses, to us<SUP>(2)</SUP></FONT></TD><TD><FONT STYLE="font-family: Times New Roman, Times, Serif">&nbsp;</FONT></TD>
    <TD STYLE="text-align: left"><FONT STYLE="font-family: Times New Roman, Times, Serif">$</FONT></TD><TD STYLE="text-align: right"><FONT STYLE="font-family: Times New Roman, Times, Serif">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;</FONT></TD><TD STYLE="text-align: left"><FONT STYLE="font-family: Times New Roman, Times, Serif">&nbsp;</FONT></TD><TD><FONT STYLE="font-family: Times New Roman, Times, Serif">&nbsp;</FONT></TD>
    <TD STYLE="text-align: left"><FONT STYLE="font-family: Times New Roman, Times, Serif">$</FONT></TD><TD STYLE="text-align: right"></TD><TD STYLE="text-align: left"><FONT STYLE="font-family: Times New Roman, Times, Serif">&nbsp;</FONT></TD><TD><FONT STYLE="font-family: Times New Roman, Times, Serif">&nbsp;</FONT></TD>
    <TD STYLE="text-align: left"><FONT STYLE="font-family: Times New Roman, Times, Serif">$</FONT></TD><TD STYLE="text-align: right"></TD><TD STYLE="text-align: left"><FONT STYLE="font-family: Times New Roman, Times, Serif">&nbsp;</FONT></TD></TR>
  </TABLE>
<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">&nbsp;</FONT></P>

<TABLE CELLPADDING="0" CELLSPACING="0" STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt; width: 100%"><TR STYLE="vertical-align: top; text-align: justify">
<TD STYLE="width: 0in"></TD><TD STYLE="width: 0.25in; text-align: left"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">(1)</FONT></TD><TD STYLE="text-align: justify"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">Represents
                                            a cash fee equal to 7% of the aggregate purchase price paid by investors in this offering.
                                            We have also agreed to pay a non-accountable expense of 1% and to reimburse the placement
                                            agent for the fees and disbursements of its legal counsel in an amount of $100,000. See &ldquo;<I>Plan
                                            of Distribution</I>&rdquo; beginning on page 24 of this prospectus for a description of the
                                            compensation to be received by the placement agent.</FONT></TD>
</TR></TABLE>

<P STYLE="margin: 0"><FONT STYLE="font-family: Times New Roman, Times, Serif">&nbsp;</FONT></P>

<TABLE CELLPADDING="0" CELLSPACING="0" STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt; width: 100%"><TR STYLE="vertical-align: top; text-align: justify">
<TD STYLE="width: 0in"></TD><TD STYLE="width: 0.25in; text-align: left"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">(2)</FONT></TD><TD STYLE="text-align: justify"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">The
                                            amount of offering proceeds to us presented in this table does not give effect to any exercise
                                            of the Warrants or Pre-Funded Warrants.</FONT></TD>
</TR></TABLE>
<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">&nbsp;</FONT></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">The
delivery to purchasers of securities in this offering is expected to be made on or about&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;,
2024, subject to satisfaction of certain customary closing conditions.</FONT></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt; text-align: center"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">&nbsp;</FONT></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt; text-align: center"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt"><I>Sole
Placement Agent</I></FONT></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt; text-align: center"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">&nbsp;</FONT></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt; text-align: center"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 14pt"><B>Aegis
Capital Corp.</B></FONT></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt; text-align: center"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">&nbsp;</FONT></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt; text-align: center"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">The
date of this prospectus is&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;
, 2024</FONT></P>

<P STYLE="text-align: center; font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">&nbsp;</FONT></P>


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<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: center"><FONT STYLE="font-family: Times New Roman, Times, Serif">&nbsp;</FONT></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: center"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt"><B>TABLE
OF CONTENTS</B></FONT></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">&nbsp;</FONT></P>

<TABLE CELLSPACING="0" CELLPADDING="0" STYLE="font: 10pt Times New Roman, Times, Serif; width: 100%; border-collapse: collapse">
  <TR STYLE="vertical-align: bottom; background-color: rgb(204,238,255)">
    <TD STYLE="text-align: justify; width: 90%"><FONT STYLE="font-family: Times New Roman, Times, Serif"><A HREF="#cy_001"><FONT STYLE="font-size: 10pt; text-decoration: none">ABOUT
    THIS PROSPECTUS</FONT></A></FONT></TD>
    <TD STYLE="width: 1%"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt; text-decoration: none">&nbsp;</FONT></TD>
    <TD STYLE="text-align: center; width: 9%"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt; text-decoration: none">ii</FONT></TD></TR>
  <TR STYLE="vertical-align: bottom; background-color: White">
    <TD STYLE="text-align: justify"><FONT STYLE="font-family: Times New Roman, Times, Serif"><A HREF="#cy_002"><FONT STYLE="font-size: 10pt; text-decoration: none">PROSPECTUS
    SUMMARY</FONT></A></FONT></TD>
    <TD><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt; text-decoration: none">&nbsp;</FONT></TD>
    <TD STYLE="text-align: center"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt; text-decoration: none">1</FONT></TD></TR>
  <TR STYLE="vertical-align: bottom; background-color: rgb(204,238,255)">
    <TD STYLE="text-align: justify"><FONT STYLE="font-family: Times New Roman, Times, Serif"><A HREF="#cy_003"><FONT STYLE="font-size: 10pt; text-decoration: none">THE
    OFFERING</FONT></A></FONT></TD>
    <TD><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt; text-decoration: none">&nbsp;</FONT></TD>
    <TD STYLE="text-align: center"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt; text-decoration: none">7</FONT></TD></TR>
  <TR STYLE="vertical-align: bottom; background-color: White">
    <TD STYLE="text-align: justify"><FONT STYLE="font-family: Times New Roman, Times, Serif"><A HREF="#cy_004"><FONT STYLE="font-size: 10pt; text-decoration: none">RISK
    FACTORS</FONT></A></FONT></TD>
    <TD><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt; text-decoration: none">&nbsp;</FONT></TD>
    <TD STYLE="text-align: center"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt; text-decoration: none">9</FONT></TD></TR>
  <TR STYLE="vertical-align: bottom; background-color: rgb(204,238,255)">
    <TD STYLE="text-align: justify"><FONT STYLE="font-family: Times New Roman, Times, Serif"><A HREF="#cy_005"><FONT STYLE="font-size: 10pt; text-decoration: none">SPECIAL
    NOTE REGARDING FORWARD-LOOKING STATEMENTS</FONT></A></FONT></TD>
    <TD><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt; text-decoration: none">&nbsp;</FONT></TD>
    <TD STYLE="text-align: center"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt; text-decoration: none">14</FONT></TD></TR>
  <TR STYLE="vertical-align: bottom; background-color: White">
    <TD STYLE="text-align: justify"><FONT STYLE="font-family: Times New Roman, Times, Serif"><A HREF="#cy_006"><FONT STYLE="font-size: 10pt; text-decoration: none">USE
    OF PROCEEDS</FONT></A></FONT></TD>
    <TD><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt; text-decoration: none">&nbsp;</FONT></TD>
    <TD STYLE="text-align: center"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt; text-decoration: none">15</FONT></TD></TR>
  <TR STYLE="vertical-align: bottom; background-color: rgb(204,238,255)">
    <TD STYLE="text-align: justify"><FONT STYLE="font-family: Times New Roman, Times, Serif"><A HREF="#cy_007"><FONT STYLE="font-size: 10pt; text-decoration: none">DIVIDEND
    POLICY</FONT></A></FONT></TD>
    <TD><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt; text-decoration: none">&nbsp;</FONT></TD>
    <TD STYLE="text-align: center"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt; text-decoration: none">16</FONT></TD></TR>
  <TR STYLE="vertical-align: bottom; background-color: White">
    <TD STYLE="text-align: justify"><FONT STYLE="font-family: Times New Roman, Times, Serif"><A HREF="#cy_008"><FONT STYLE="font-size: 10pt; text-decoration: none">CAPITALIZATION</FONT></A></FONT></TD>
    <TD><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt; text-decoration: none">&nbsp;</FONT></TD>
    <TD STYLE="text-align: center"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt; text-decoration: none">17</FONT></TD></TR>
  <TR STYLE="vertical-align: bottom; background-color: rgb(204,238,255)">
    <TD STYLE="text-align: justify"><FONT STYLE="font-family: Times New Roman, Times, Serif"><A HREF="#cy_009"><FONT STYLE="font-size: 10pt; text-decoration: none">DILUTION</FONT></A></FONT></TD>
    <TD><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt; text-decoration: none">&nbsp;</FONT></TD>
    <TD STYLE="text-align: center"><FONT STYLE="font-family: Times New Roman, Times, Serif">18</FONT></TD></TR>
  <TR STYLE="vertical-align: bottom; background-color: White">
    <TD STYLE="text-align: justify"><FONT STYLE="font-family: Times New Roman, Times, Serif"><A HREF="#cy_010"><FONT STYLE="font-size: 10pt; text-decoration: none">DESCRIPTION
    OF SECURITIES</FONT></A></FONT></TD>
    <TD><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt; text-decoration: none">&nbsp;</FONT></TD>
    <TD STYLE="text-align: center"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt; text-decoration: none">19</FONT></TD></TR>
  <TR STYLE="vertical-align: bottom; background-color: rgb(204,238,255)">
    <TD STYLE="text-align: justify"><FONT STYLE="font-family: Times New Roman, Times, Serif"><A HREF="#cy_011"><FONT STYLE="font-size: 10pt; text-decoration: none">PLAN
    OF DISTRIBUTION</FONT></A></FONT></TD>
    <TD><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt; text-decoration: none">&nbsp;</FONT></TD>
    <TD STYLE="text-align: center"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt; text-decoration: none">24</FONT></TD></TR>
  <TR STYLE="vertical-align: bottom; background-color: White">
    <TD STYLE="text-align: justify"><FONT STYLE="font-family: Times New Roman, Times, Serif"><A HREF="#cy_012"><FONT STYLE="font-size: 10pt; text-decoration: none">EXPERTS</FONT></A></FONT></TD>
    <TD><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt; text-decoration: none">&nbsp;</FONT></TD>
    <TD STYLE="text-align: center"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt; text-decoration: none">27</FONT></TD></TR>
  <TR STYLE="vertical-align: bottom; background-color: rgb(204,238,255)">
    <TD STYLE="text-align: justify"><FONT STYLE="font-family: Times New Roman, Times, Serif"><A HREF="#cy_013"><FONT STYLE="font-size: 10pt; text-decoration: none">LEGAL
    MATTERS</FONT></A></FONT></TD>
    <TD><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt; text-decoration: none">&nbsp;</FONT></TD>
    <TD STYLE="text-align: center"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt; text-decoration: none">27</FONT></TD></TR>
  <TR STYLE="vertical-align: bottom; background-color: White">
    <TD STYLE="text-align: justify"><FONT STYLE="font-family: Times New Roman, Times, Serif"><A HREF="#cy_014"><FONT STYLE="font-size: 10pt; text-decoration: none">INFORMATION
    INCORPORATED BY REFERENCE</FONT></A></FONT></TD>
    <TD><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt; text-decoration: none">&nbsp;</FONT></TD>
    <TD STYLE="text-align: center"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt; text-decoration: none">27</FONT></TD></TR>
  <TR STYLE="vertical-align: bottom; background-color: rgb(204,238,255)">
    <TD STYLE="text-align: justify"><FONT STYLE="font-family: Times New Roman, Times, Serif"><A HREF="#cy_015"><FONT STYLE="font-size: 10pt; text-decoration: none">WHERE
    YOU CAN FIND MORE INFORMATION</FONT></A></FONT></TD>
    <TD><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt; text-decoration: none">&nbsp;</FONT></TD>
    <TD STYLE="text-align: center"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt; text-decoration: none">28</FONT></TD></TR>
  </TABLE>
<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">&nbsp;</FONT></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">You
should rely only on the information contained in this prospectus or any prospectus supplement or amendment or incorporated by reference.
Neither we, nor the placement agent, have authorized any other person to provide you with information that is different from, or adds
to, that contained in this prospectus. If anyone provides you with different or inconsistent information, you should not rely on it.
Neither we nor the placement agent take responsibility for, and can provide no assurance as to the reliability of, any other information
that others may give you. You should assume that the information contained in this prospectus or any free writing prospectus is accurate
only as of the date of this prospectus, regardless of the time of delivery of this prospectus or of any sale of our securities. Our business,
financial condition, results of operations and prospects may have changed since that date. We are not making an offer of any securities
in any jurisdiction in which such offer is unlawful.</FONT></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">&nbsp;</FONT></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">No
action is being taken in any jurisdiction outside the United States to permit a public offering of our securities or possession or distribution
of this prospectus in that jurisdiction. Persons who come into possession of this prospectus in jurisdictions outside the United States
are required to inform themselves about and to observe any restrictions as to this public offering and the distribution of this prospectus
applicable to that jurisdiction.</FONT></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">&nbsp;</FONT></P>


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<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">&nbsp;</FONT></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: center"><FONT STYLE="font-family: Times New Roman, Times, Serif"><A NAME="cy_001"></A><FONT STYLE="font-size: 10pt; font-variant: small-caps"><B>ABOUT
THIS PROSPECTUS</B></FONT></FONT></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">&nbsp;</FONT></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">We
incorporate by reference important information into this prospectus. You may obtain the information incorporated by reference without
charge by following the instructions under &ldquo;Where You Can Find More Information.&rdquo; You should carefully read this prospectus
as well as additional information described under &ldquo;Information Incorporated By Reference,&rdquo; before deciding to invest in our
securities.</FONT></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">&nbsp;</FONT></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">Neither
we nor Aegis have authorized anyone to provide you with information different from or inconsistent with the information contained in
or incorporated by reference in this prospectus. We take no responsibility for, and can provide no assurance as to the reliability of,
any other information that others may give you. You should assume that the information appearing in this prospectus and the documents
incorporated by reference in this prospectus is accurate only as of the date of those respective documents, regardless of the time of
delivery of those respective documents. Our business, financial condition, results of operations and prospects may have changed since
those dates.&nbsp;</FONT></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">&nbsp;</FONT></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">The
information incorporated by reference or provided in this prospectus contains statistical data and estimates, including those relating
to market size and competitive position of the markets in which we participate, that we obtained from our own internal estimates and
research, as well as from industry and general publications and research, surveys and studies conducted by third parties. Industry publications,
studies and surveys generally state that they have been obtained from sources believed to be reliable. While we believe our internal
company research is reliable and the definitions of our market and industry are appropriate, neither this research nor these definitions
have been verified by any independent source.</FONT></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">&nbsp;</FONT></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">We
further note that the representations, warranties and covenants made by us in any agreement that is filed as an exhibit to any document
that is incorporated by reference into this prospectus were made solely for the benefit of the parties to such agreement, including,
in some cases, for the purpose of allocating risk among the parties to such agreement, and should not be deemed to be a representation,
warranty or covenant to you. Moreover, such representations, warranties or covenants were accurate only as of the date when made. Accordingly,
such representations, warranties and covenants should not be relied on as accurately representing the current state of our affairs.</FONT></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">&nbsp;</FONT></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">We
are offering to sell, and seeking offers to buy, shares of our common stock only in jurisdictions where offers and sales are permitted.
The distribution of this prospectus and the offering of our common stock in certain jurisdictions may be restricted by law. Persons outside
the United States who come into possession of this prospectus must inform themselves about, and observe any restrictions relating to,
the offering of our common stock and the distribution of this prospectus outside the United States. This prospectus does not constitute,
and may not be used in connection with, an offer to sell, or a solicitation of an offer to buy, any securities offered by this prospectus
by any person in any jurisdiction in which it is unlawful for such person to make such an offer or solicitation.</FONT></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">&nbsp;</FONT></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">CYNGN
Inc. and its consolidated subsidiaries are referred to herein as &ldquo;Cyngn,&rdquo; &ldquo;the Company,&rdquo; &ldquo;we,&rdquo; &ldquo;us&rdquo;
and &ldquo;our,&rdquo; unless the context indicates otherwise.</FONT></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">&nbsp;</FONT></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">This
prospectus contains, or incorporates by reference, trademarks, tradenames, service marks and service names of CYNGN Inc. and its subsidiaries.&nbsp;</FONT></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">&nbsp;</FONT></P>


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<DIV STYLE="padding-right: 5.4pt; padding-left: 5.4pt; border: Black 1.5pt solid; width: 98%"><P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">&nbsp;</FONT></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: center"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt"><B><A NAME="cy_002"></A>PROSPECTUS
SUMMARY</B></FONT></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">&nbsp;</FONT></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-right: 0; margin-bottom: 0pt; text-align: justify"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt"><I>This
summary highlights selected information included elsewhere in or incorporated by reference in this prospectus and does not contain all
the information that you should consider before investing in our securities. You should read the entire prospectus carefully, especially
&ldquo;Risk Factors&rdquo; and the financial statements and related notes and other information incorporated by reference into this prospectus,
before deciding whether to participate in the offering described in this prospectus.</I>&nbsp;</FONT></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">&nbsp;&nbsp;</FONT></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt"><B>Overview</B></FONT></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">&nbsp;</FONT></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">We
are an autonomous vehicle (&ldquo;AV&rdquo;) technology company that is focused on addressing industrial uses for autonomous vehicles.
We believe that technological innovation is needed to enable adoption of autonomous industrial vehicles that will address the substantial
industry challenges that exist today. These challenges include labor shortages, high labor costs and work safety.</FONT></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">&nbsp;</FONT></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">We
integrate our full-stack autonomous driving software, DriveMod, onto vehicles manufactured by Original Equipment Manufacturers (&ldquo;OEM&rdquo;)
either via retrofit of existing vehicles or by integration directly into vehicle assembly. We design the Enterprise Autonomy Suite (&ldquo;EAS&rdquo;)
to be compatible with sensors and components from leading hardware technology providers and integrate our proprietary AV software to
produce differentiated autonomous vehicles.</FONT></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">&nbsp;</FONT></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">Autonomous
driving has common technological building blocks that remain similar across vehicles and applications. By tapping into these building
blocks, DriveMod is designed to deliver autonomy to new vehicles via streamlined hardware/software integration. This vehicle-agnostic
approach enables DriveMod to expand to new vehicles and novel operational design domains (&ldquo;ODD&rdquo;). In short, nearly every
industrial vehicle, regardless of use case, can move autonomously using our technology.</FONT></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">&nbsp;</FONT></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">Our
approach accomplishes several primary value propositions:</FONT></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">&nbsp;</FONT></P>

<TABLE CELLSPACING="0" CELLPADDING="0" STYLE="font: 10pt Times New Roman, Times, Serif; width: 100%; border-collapse: collapse">
  <TR STYLE="vertical-align: top">
    <TD STYLE="width: 0.5in"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">&nbsp;</FONT></TD>
    <TD STYLE="width: 0.25in; text-align: justify"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">1.</FONT></TD>
    <TD STYLE="text-align: justify"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">Provide autonomous capabilities
    to industrial vehicles built by established manufacturers that are already trusted by customers.</FONT></TD></TR>
  <TR STYLE="vertical-align: top">
    <TD><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">&nbsp;</FONT></TD>
    <TD STYLE="text-align: justify"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">&nbsp;</FONT></TD>
    <TD STYLE="text-align: justify"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">&nbsp;</FONT></TD></TR>
  <TR STYLE="vertical-align: top">
    <TD><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">&nbsp;</FONT></TD>
    <TD STYLE="text-align: justify"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">2.</FONT></TD>
    <TD STYLE="text-align: justify"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">Generate continual customer
    value by leveraging the synergistic relationship of autonomous vehicles and data.</FONT></TD></TR>
  <TR STYLE="vertical-align: top">
    <TD><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">&nbsp;</FONT></TD>
    <TD STYLE="text-align: justify"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">&nbsp;</FONT></TD>
    <TD STYLE="text-align: justify"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">&nbsp;</FONT></TD></TR>
  <TR STYLE="vertical-align: top">
    <TD><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">&nbsp;</FONT></TD>
    <TD STYLE="text-align: justify"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">3.</FONT></TD>
    <TD STYLE="text-align: justify"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">Develop consistent autonomous
    vehicle operation and user interfaces for diverse vehicle fleets.</FONT></TD></TR>
  <TR STYLE="vertical-align: top">
    <TD><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">&nbsp;</FONT></TD>
    <TD STYLE="text-align: justify"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">&nbsp;</FONT></TD>
    <TD STYLE="text-align: justify"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">&nbsp;</FONT></TD></TR>
  <TR STYLE="vertical-align: top">
    <TD><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">&nbsp;</FONT></TD>
    <TD STYLE="text-align: justify"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">4.</FONT></TD>
    <TD STYLE="text-align: justify"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">Complement the core competencies
    of existing industry players by introducing the leading-edge technologies like Artificial Intelligence (&ldquo;AI&rdquo;) and Machine
    Learning (&ldquo;ML&rdquo;), cloud/connectivity, sensor fusion, high-definition mapping, and real-time dynamic path planning and
    decision making.</FONT></TD></TR>
  </TABLE>
<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">&nbsp;</FONT></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">We
believe our market positioning as a technology partner to vehicle manufacturers creates a synergy with incumbent suppliers that already
have established sales, distribution, and service/maintenance channels. By focusing on industrial use cases and partnering with the incumbent
OEMs in these markets, we believe we can source and execute revenue-generating opportunities more quickly.</FONT></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">&nbsp;</FONT></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">Our
long-term vision is for EAS to become a universal autonomous driving solution with minimal marginal cost for companies to adopt new vehicles
and expand their autonomous fleets across new deployments. We have already deployed DriveMod software on more than ten different vehicle
form factors that range from stockchasers and stand-on floor scrubbers to 14-seat shuttles and electric forklifts as part of prototypes
and proof of concept projects, demonstrating the extensibility of our AV building blocks.</FONT></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">&nbsp;</FONT></P>

</DIV>


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<DIV STYLE="padding-right: 5.4pt; padding-left: 5.4pt; border: Black 1.5pt solid; width: 98%"><P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">&nbsp;</FONT></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">Our
recent progress contributes to the validation of EAS with OEM partners and end customers. We also continue to build upon our ability
to scale our products and generate novel technological developments. The DriveMod Stockchaser became commercially available in early
2023 starting with the deployment from our partner-customer US Continental, a California-based leading manufacturer of quality leather
and fabric care products. We also launched the DriveMod Forklift and the DriveMod Tugger as we expand our vehicle-type portfolio fleet
through our OEM partnership with BYD and Motrec, respectively.</FONT></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">&nbsp;</FONT></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">We
secured paid projects with leading global customers like Arauco, along with additional projects from big brands in the Global 500 and
the Fortune 100. Our patent portfolio expanded with 16 new U.S. patent grants in 2023 and 2 granted in 2024, bringing the total grants
to 21.</FONT></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">&nbsp;&nbsp;</FONT></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt; text-align: center"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt"><IMG SRC="image_002.jpg" ALT=""></FONT></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">&nbsp;</FONT></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">We
intend to continue to pursue and win additional license agreements with companies that depend heavily on the use of material handling
vehicles and that all recognize the need for automation to i) compete in todays economy, ii) combat the significant labor shortages and
escalating costs, and iii) improve safety. Our approach to securing these opportunities will be a continued direct sales effort coupled
with increasing our network of industrial vehicle dealers that already have significant sales of industrial vehicles.</FONT></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">&nbsp;</FONT></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt"><B>Our
Products</B></FONT></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">&nbsp;</FONT></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">EAS
is a suite of technology and tools that consists of three complementary categories: DriveMod, Cyngn Insight, and Cyngn Evolve.</FONT></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">&nbsp;</FONT></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt"><I>DriveMod:
Industrial Autonomous Vehicle System</I></FONT></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">&nbsp;</FONT></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">We
built DriveMod as a modular software product that is compatible with various sensor and computer hardware components that are widely
used throughout the autonomous vehicle industry. Our software combined with sensors and components from industry leading technology providers
covers the end-to-end requirements that enable vehicles to operate autonomously with leading-edge technology. The modularity of DriveMod
allows our AV technology to be compatible across vehicle platforms as well as indoor and outdoor environments. DriveMod can be retrofitted
to existing vehicle assets or integrated into a manufacturing partner&rsquo;s vehicles at assembly, providing accessible options for
our customers to integrate leading-edge technology whether their AV adoption strategies are evolutionary or revolutionary.</FONT></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">&nbsp;</FONT></P>

</DIV>


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<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">The
core vehicle-agnostic DriveMod software stack is targeted and deployed to different vehicles through <I>DriveMod Kits</I>, which are
the AV hardware systems that take into account the specific needs of operating the DriveMod software on a specific target vehicle. Then,
after prototyping and productization, DriveMod kits streamline the integration AV hardware and software integration onto vehicles at
scale. The DriveMod Kit for Columbia Stockchasers is commercially released and available at scale. Subsequently, we expect to create
different instances of DriveMod Kits to support the commercial release of new vehicles on the EAS platform, such as the electric forklifts
and other industrial vehicles.</FONT></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">&nbsp;</FONT></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt; text-align: center"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt"><IMG SRC="image_003.jpg" ALT=""></FONT></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: center"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">&nbsp;</FONT></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt"><B>Figure
1: Overview of Cyngn&rsquo;s autonomous vehicle technology (DriveMod)</B></FONT></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">&nbsp;</FONT></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">DriveMod&rsquo;s
flexibility combines with our network of manufacturing and service partners to support customers at different stages of autonomous technology
integration. This allows customers to grow the complexity and scope of their industrial autonomy deployments as their business transforms
while continually capturing returns throughout their transition to full autonomy. EAS will also grant customers access to over-the-air
software upgrades, ad hoc customer support, and flexible consumption based on usage and scale of operations. By lessening both the commercial
and technical burdens of traditional vehicle automation and industrial robotics investments, industrial AVs can become universally available
to the market, even reaching small and medium-sized businesses that may otherwise struggle to adopt Industry 4.0 and 5.0 technology.</FONT></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">&nbsp;</FONT></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt"><I>Cyngn
Insight: Intelligent Control Center</I></FONT></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">&nbsp;</FONT></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">Cyngn
Insight is the customer-facing tool suite for managing AV fleets and aggregating data to extract business insights. Analytics dashboards
surface data about the system&rsquo;s status, vehicle telemetry, and performance metrics. Cyngn Insight also provides tools to switch
between autonomous, manual, and remote operation when required. This flexibility allows customers to use the autonomous capabilities
of the system in a way that is tailored to their own operational environment. Customers can choose when to operate their DriveMod-powered
vehicles autonomously and when to have human operators operate the vehicles manually or remotely based on their own business needs. When
combined, these capabilities and tools make up the Cyngn Insight intelligent control center that enables flexible fleet management from
any location.</FONT></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">&nbsp;</FONT></P>

</DIV>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify"></P>

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<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">Cyngn
Insight&rsquo;s tool suite includes configurable cloud dashboards that aggregate diverse data streams at several levels of granularity
(i.e., site, fleet, vehicle, module, and component). We can collect data during &ldquo;open loop&rdquo; vehicle operation, meaning that
the vehicles can be operated manually while still collecting the rich data enabled by the advanced on-vehicle sensors and computers.
Data can be used for predictive maintenance, operational improvements, educating employees on digital transformation and more.</FONT></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">&nbsp;</FONT></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt"><I>Cyngn
Evolve: Data Optimization Tools</I></FONT></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">&nbsp;</FONT></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">Cyngn
Evolve is our internal tool suite that underpins the relationship between AVs and data. Through a unifying cloud-based data infrastructure,
our proprietary data tools strengthen the positive network effects derived from the valuable new data created by AVs. Cyngn Evolve and
its data pipelines facilitate AI/ML training and deployment, manage data sets, and support driving simulation and grading to test and
validate new DriveMod releases, using both real-world and simulated data.</FONT></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">&nbsp;</FONT></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt; text-align: center"><FONT STYLE="font-family: Times New Roman, Times, Serif"><IMG SRC="image_004.jpg" ALT=""></FONT></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">&nbsp;</FONT></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt"><B>Figure
2: The Cyngn &ldquo;AnyDrive&rdquo; simulation is part of the Cyngn Evolve toolchain. The simulation environment creates a digital version
of the physical world. This allows for customer data sets to be leveraged and augmented to achieve testing and validation prior to releasing
new AV features.</B></FONT></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">&nbsp;</FONT></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">As
AV technology expertise matures globally, there may be opportunities to monetize the sophisticated AV-centric tools of Cyngn Evolve.
Currently, we believe that AV development is confined to small groups of experts. Therefore, Cyngn Evolve is currently an internal EAS
tool that we use to advance DriveMod and Cyngn Insight, our customer-facing EAS products.</FONT></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">&nbsp;</FONT></P>

</DIV>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify"></P>

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<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt"><B><I>Intellectual
Property Portfolio</I></B></FONT></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">&nbsp;</FONT></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">Our
ability to drive impact and growth within the autonomous industrial vehicle market largely depends on our ability to obtain, maintain,
and protect our intellectual property and all other property rights related to our products and technology. To accomplish this, we utilize
a combination of patents, trademarks, copyrights, and trade secrets as well as employee and third-party non-disclosure agreements, licenses,
and other contractual obligations. In addition to protecting our intellectual property and other assets, our success also depends on
our ability to develop our technology and operate without infringing, misappropriating, or otherwise violating the intellectual property
and property rights of third parties, customers, and partners.</FONT></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">&nbsp;</FONT></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">Our
software stack has over 30 subsystems, including those designed for perception, mapping &amp; localization, decision making, planning,
and control. As of the date of this prospectus, we have 21 granted U.S. patents and submitted 4 pending U.S. patent and expect to continue
to file additional patent applications with respect to our technology in the future.</FONT></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">&nbsp;</FONT></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt"><B>Recent
Developments</B></FONT></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt"><B>&nbsp;</B>&nbsp;</FONT></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt"><I>Public
Offering</I></FONT></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">&nbsp;</FONT></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">On
April 23, 2024, the Company entered into an underwritten Agreement with Aegis Capital Corp. (&ldquo;Aegis&rdquo;), pursuant to which
Aegis acted as the Company&rsquo;s underwriter on a firm commitment basis in connection with the sale by the Company of an aggregate
of 500,000&nbsp;shares of common stock in a public offering, which included: (i) 198,000&nbsp;shares of common stock, and (ii) pre-funded
warrants to purchase 302,000 shares of common stock. The Pre-Funded Warrants had a nominal exercise price of $0.00001.&nbsp;Each share
of common stock was sold at an offering price of $0.10, and each Pre-Funded Warrant was sold at an offering price of $0.09999. On May
3, 2024, the Company closed on the sale of an additional 20,400 shares of common stock, upon exercise by the underwriter of the over-allotment
option. The Company received gross proceeds of approximately $5.2 million before deducting transaction related expenses payable by the
Company.</FONT></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt"><B>&nbsp;</B></FONT></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt"><I>Amended
Bylaws</I></FONT></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">&nbsp;</FONT></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">On
May 7, 2024, we amended our Amended and Restated Bylaws (the &ldquo;Amended Bylaws&rdquo;), for the purpose of reducing the quorum required
to hold meetings of the stockholders of the Company (the &ldquo;Quorum Requirement&rdquo;). The Amended Bylaws reduced the Quorum Requirement
from a majority to one-third (1/3rd) of the voting power of the shares of stock issued and outstanding and entitled to vote at the meeting.
The Amended Bylaws was approved by the Board of Directors of the Company on May 7, 2024.</FONT></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt"><B>&nbsp;</B></FONT></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt"><I>Reverse
Stock Split</I></FONT></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt"><I>&nbsp;</I></FONT></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">At
the Annual Meeting of Stockholders on June 25, 2024, the stockholders of the Company approved the grant of discretionary authority to
the board of directors of the Company to effect a reverse stock split of its outstanding shares of common stock at a specific ratio within
a range of one-for-five (1-for-5) to a maximum of a one-for-one hundred (1-for-100) split. On July 3, 2024, we implemented a 1-for-100
reverse stock split (the &ldquo;Reverse Stock Split&rdquo;) of our common stock. As a result of the Reverse Stock Split, every one hundred
(100) shares of our pre-Reverse Stock Split common stock were combined and reclassified into one share of our common stock. The number
of shares of common stock subject to outstanding options and warrants were also reduced by a factor of one hundred and the exercise price
of such securities increased by a factor of one hundred effective as of July 3, 2024. Our common stock commenced trading on a post- reverse
stock split basis on July 5, 2024.</FONT></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">&nbsp;</FONT></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt"><I>NASDAQ
Compliance</I></FONT></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">&nbsp;</FONT></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">On
July 19, 2024, the Company was notified by Nasdaq that the Company has regained compliance with the bid price requirement as set forth
in Listing Rule 5550(a)(2), and that the Company is therefore in compliance with the Nasdaq Capital Market&rsquo;s listing requirements
and will remain listed on Nasdaq.</FONT></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">&nbsp;</FONT></P>

</DIV>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify"></P>

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<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt"><I>Private
Placement</I></FONT></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">&nbsp;</FONT></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">On
November 12, 2024, the Company entered into a Securities Purchase Agreement (the &ldquo;SPA&rdquo;) with certain investors (the &ldquo;Purchasers&rdquo;)
pursuant to which we sold, in a private placement (the &ldquo;Private Placement&rdquo;), senior notes with an aggregate principal amount
of $4,375,000 (the &ldquo;Notes&rdquo;), and received proceeds before expenses of $3,500,000. As consideration for entering into the
SPA, we issued a total of 405,125 shares of common stock of the Company to the Purchasers on November 13, 2024.</FONT></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">&nbsp;</FONT></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in">In connection with the Purchase
Agreement, the Company entered into a registration rights agreement with the Purchasers (the &ldquo;Registration Rights Agreement&rdquo;).
Pursuant to the Registration Rights Agreement, we are required to file a resale registration statement, or the Registration Statement,
with the SEC to register for resale the 405,125 shares of common stock by November 28, 2024, and to have such Registration Statement declared
effective within thirty days of filing (sixty days in the event the Registration Statement is reviewed by the SEC). We will be obligated
to pay liquidated damages to the Purchasers if we fail to file the resale registration statement when required, fail to request effectiveness
within five trading days after being notified that the Registration Statement will not be reviewed or not subject to further review, fail
to respond to comments to the Registration statement within ten calendar days, fail to cause the Registration Statement to be declared
effective by the SEC when required, fail to maintain the effectiveness of the Registration Statement, or if the Registration Statement
ceases to remain effective. On November 25, 2024, the Company filed a registration statement to satisfy its obligations under the Registration
Rights Agreement.</P>
<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">&nbsp;</FONT></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify"><FONT STYLE="font-family: Times New Roman, Times, Serif"><I>Cost
Reduction </I></FONT></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify"><FONT STYLE="font-family: Times New Roman, Times, Serif"><I>&nbsp;</I></FONT></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in"><FONT STYLE="font-family: Times New Roman, Times, Serif">On
November 12, 2024, the Company announced it is implementing a cost reduction plan&nbsp;in order to reduce its average monthly cash burn
from approximately&nbsp;$1.8 million per month to approximately $1 million per month for 90 days. This includes reducing staff from approximately
80 people to approximately 60 people, temporarily suspending certain non-essential operations and reducing or eliminating all discretionary
expenses.&nbsp;&nbsp;</FONT></P>
<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">&nbsp;</FONT></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt"><B>Our
Corporate Information</B></FONT></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">&nbsp;</FONT></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">The
Company was originally incorporated in the State of Delaware on February 1, 2013, under the name Cyanogen, Inc. or Cyanogen. The Company
started as a venture funded company with offices in Seattle and Palo Alto, aimed at commercializing CyanogenMod, direct to consumer and
through collaborations with mobile phone manufacturers. CyanogenMod was an open-source&nbsp;operating system for mobile devices, based
on the Android mobile platform. Cyanogen released multiple versions of its mobile operating system and collaborated with an ecosystem
of companies including mobile phone OEMs, content providers and leading technology partners from 2013 to 2015.</FONT></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">&nbsp;</FONT></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">In
2016 the Company&rsquo;s management and board of directors, determined to pivot its product focus and commercial direction from the mobile
device and telecom space to industrial and commercial autonomous driving with the hiring of Lior Tal in June 2016 to serve as the company&rsquo;s
chief operating officer. Mr. Tal, a seasoned executive of startup firms where prior to joining the company, co-founded Snaptu which later
was acquired by Facebook (currently known as Meta Platforms, Inc.), as well as held various leadership roles at Actimize, DiskSites and
Odigo; all of these companies which were also later acquired. Mr. Tal was promoted to chief executive officer in October 2016 and continues
to serve in this role along with chairman of the board. In May 2017, the Company changed its name to CYNGN Inc.</FONT></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">&nbsp;</FONT></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt"><B>Available
Information</B></FONT></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt"><B>&nbsp;</B></FONT></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">Our
principal business address is 1015 O&rsquo;Brien Dr., Menlo Park, CA 94025, and our telephone number is (650) 924-5905. We maintain our
corporate website at <I>https://cyngn.com </I>(this website address is not intended to function <I>as a hyperlink and the information
contained on our website is not intended to be a part of this prospectus).</I> Information on our website does not constitute a part
of, nor is it incorporated in any way, into this prospectus and should not be relied upon in connection with making an investment decision.
We make available free of charge on https://investors.cyngn.com/ our annual, quarterly, and current reports, and amendments to those
reports if any, as soon as reasonably practical after we electronically file such material with, or furnish it to, the SEC. We may from
time to time provide important disclosures to investors by posting them in the Investor Relations section of our website.</FONT></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">&nbsp;</FONT></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">Our
common stock is quoted on the Nasdaq under the symbol &ldquo;CYN&rdquo;. We file annual, quarterly, and current reports, proxy statements
and other information with the U.S. Securities Exchange Commission (the &ldquo;SEC&rdquo;) and are subject to the requirements of the
Securities and Exchange Act of 1934, as amended (the Exchange Act). These filings are available to the public on the Internet at the
SEC&rsquo;s website at http://www.sec.gov.</FONT></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">&nbsp;</FONT></P>

</DIV>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in"></P>

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<DIV STYLE="padding-right: 5.4pt; padding-left: 5.4pt; border: Black 1.5pt solid; width: 98%"><P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in"><FONT STYLE="font-family: Times New Roman, Times, Serif">&nbsp;</FONT></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt; text-align: center"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt"><B><A NAME="cy_003"></A>THE
OFFERING</B></FONT></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">&nbsp;</FONT></P>

<TABLE CELLSPACING="0" CELLPADDING="0" STYLE="font: 10pt Times New Roman, Times, Serif; width: 100%; border-collapse: collapse">
  <TR STYLE="vertical-align: top">
    <TD STYLE="padding-left: 9.25pt; text-indent: -9pt; width: 25%"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">Units
    offered by us</FONT></TD>
    <TD STYLE="width: 1%"><FONT STYLE="font-family: Times New Roman, Times, Serif">&nbsp;</FONT></TD>
    <TD STYLE="text-align: justify; width: 74%"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">Up to 3,062,787
    Units in a best efforts offering. Each Unit consists of: (i) one share of common stock; (ii) one Series A Warrant; and (iii) one
    Series B Warrant.</FONT></TD></TR>
  <TR STYLE="vertical-align: top">
    <TD STYLE="padding-left: 9.25pt; text-indent: -9pt"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">&nbsp;</FONT></TD>
    <TD><FONT STYLE="font-family: Times New Roman, Times, Serif">&nbsp;</FONT></TD>
    <TD STYLE="text-align: justify"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">&nbsp;</FONT></TD></TR>
  <TR STYLE="vertical-align: top">
    <TD STYLE="padding-left: 9.25pt; text-indent: -9pt"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">Pre-Funded
    Units offered by us</FONT></TD>
    <TD><FONT STYLE="font-family: Times New Roman, Times, Serif">&nbsp;</FONT></TD>
    <TD STYLE="text-align: justify"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">We are also offering the
    opportunity to purchase, if the purchaser so chooses and in lieu of Units, up to 3,062,787 Pre-Funded Units to purchasers whose purchase
    of Units in this offering would otherwise result in the purchaser, together with its affiliates and certain related parties, beneficially
    owning more than 4.99% (or, at the election of the purchaser, 9.99%) of our outstanding common stock immediately following the consummation
    of this offering. Each Pre-Funded Unit consists of: (i) one Pre-Funded Warrant exercisable for one share of common stock; (ii) one
    Series A Warrant; and one Series B Warrant. The purchase price of each Pre-Funded Unit is equal to the price per Unit being sold
    to the public in this offering, minus $0.0001, and the exercise price of each Pre-Funded Warrant included in the Pre-Funded Unit
    is $0.0001 per share. The Pre-Funded Warrants will be immediately exercisable and may be exercised at any time until all of the Pre-Funded
    Warrants are exercised in full. For each Pre-Funded Unit we sell, the number of Units we are offering will be decreased on a one-for-one
    basis. Because we will issue one Series A Warrant and one Series B Warrant as part of each Unit or Pre-Funded Unit, the number of
    Warrants sold in this offering will not change as a result of a change in the mix of the Units and Pre-Funded Units sold. This offering
    also relates to the shares of common stock issuable upon exercise of any Pre-Funded Warrants and Warrants sold in this offering.</FONT></TD></TR>
  <TR STYLE="vertical-align: top">
    <TD STYLE="padding-left: 9.25pt; text-indent: -9pt"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">&nbsp;</FONT></TD>
    <TD><FONT STYLE="font-family: Times New Roman, Times, Serif">&nbsp;</FONT></TD>
    <TD STYLE="text-align: justify"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">&nbsp;</FONT></TD></TR>
  <TR STYLE="vertical-align: top">
    <TD STYLE="padding-left: 9.25pt; text-indent: -9pt"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">Warrants
    offered by us</FONT></TD>
    <TD><FONT STYLE="font-family: Times New Roman, Times, Serif">&nbsp;</FONT></TD>
    <TD><P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">The
        Series A Warrants will be exercisable commencing upon Warrant Stockholder Approval, have an exercise price of $8.16 per share
        ((125% of the assumed public offering price per Unit), subject to certain anti-dilution and share combination event protections
        and have a term of five years from the date of the Warrant Stockholder Approval.</FONT></P>
    <P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">&nbsp;</FONT></P>
    <P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">The
    Series B Warrants will be exercisable commencing upon Warrant Stockholder Approval, will have an exercise price of $8.16 per share
    (125% of the assumed public offering price per Unit), subject to certain share combination event protections and will have a term
    of two and one-half years from the date of Warrant Stockholder Approval.</FONT></P>
    <P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">&nbsp;</FONT></P>
    <P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">Under
    the alternate cashless exercise option of the Series B Warrants, the holder of the Series B Warrant, has the right to receive three
    shares for each warrant share underlying the Series B Warrant. In addition, beginning on the 11th trading day after the Warrant Stockholder
    Approval Date (the &ldquo;Reset Date&rdquo;), the exercise price of the Warrants will reset to a price equal to the greater of (i)
    the Floor Price, as defined in the Warrants, in effect on the Reset Date and (ii) lowest volume weighted average price (&ldquo;VWAP&rdquo;)
    during the period commencing on the first trading day immediately following the Stockholder Approval Date and ending on the close
    of trading on the 10th trading day thereafter. In addition, following a reverse stock split, the exercise price of the Warrants will
    be adjusted to equal the lowest single-day VWAP during the period from the trading day immediately following, until the fifth trading
    day following the reverse stock split. with a proportionate adjustment to the number of shares underlying the Warrants. Beginning
    on the Warrant Stockholder Approval Date, with certain exceptions, the Series A Warrants will provide for an adjustment to the exercise
    price and number of shares underlying the Series A Warrants upon our issuance of our common stock or common stock equivalents at
    a price per share that is less than the exercise price of the Series A Warrant.</FONT></P>
    <P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">&nbsp;</FONT></P>
    <P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">Prior
    to the Warrant Stockholder Approval Date, the Floor Price shall be equal to 50% of the Nasdaq Minimum Price at the pricing of this
    offering and after the Warrant Stockholder Approval date, the Floor Price shall be 20% of the Nasdaq minimum Price. See &ldquo;Description
    of Securities.&rdquo;</FONT></P></TD></TR>
  </TABLE>
<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">&nbsp;</FONT></P>

</DIV>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0"></P>

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<DIV STYLE="padding-right: 5.4pt; padding-left: 5.4pt; border: Black 1.5pt solid; width: 98%"><P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">&nbsp;</FONT></P>

<TABLE CELLSPACING="0" CELLPADDING="0" STYLE="font: 10pt Times New Roman, Times, Serif; width: 100%; border-collapse: collapse">
  <TR STYLE="vertical-align: top">
    <TD STYLE="padding-left: 9.25pt; text-indent: -9pt; width: 25%"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">Common
    stock outstanding prior to the offering<SUP>(1)</SUP></FONT></TD>
    <TD STYLE="width: 1%"><FONT STYLE="font-family: Times New Roman, Times, Serif">&nbsp;</FONT></TD>
    <TD STYLE="text-align: justify; width: 74%"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">2,431,784 shares.</FONT></TD></TR>
  <TR STYLE="vertical-align: top">
    <TD STYLE="padding-left: 9.25pt; text-align: justify; text-indent: -9pt"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">&nbsp;</FONT></TD>
    <TD><FONT STYLE="font-family: Times New Roman, Times, Serif">&nbsp;</FONT></TD>
    <TD STYLE="text-align: justify"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">&nbsp;</FONT></TD></TR>
  <TR STYLE="vertical-align: top">
    <TD STYLE="padding-left: 9.25pt; text-indent: -9pt"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">Common
    stock to be outstanding after the offering</FONT></TD>
    <TD><FONT STYLE="font-family: Times New Roman, Times, Serif">&nbsp;</FONT></TD>
    <TD STYLE="text-align: justify"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">5,494,571 (assuming no
    sale of any Pre-Funded Units)</FONT></TD></TR>
  <TR STYLE="vertical-align: top">
    <TD STYLE="padding-left: 9.25pt; text-align: justify; text-indent: -9pt"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">&nbsp;</FONT></TD>
    <TD><FONT STYLE="font-family: Times New Roman, Times, Serif">&nbsp;</FONT></TD>
    <TD STYLE="text-align: justify"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">&nbsp;</FONT></TD></TR>
  <TR STYLE="vertical-align: top">
    <TD STYLE="padding-left: 9.25pt; text-indent: -9pt"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">Use
    of Proceeds</FONT></TD>
    <TD><FONT STYLE="font-family: Times New Roman, Times, Serif">&nbsp;</FONT></TD>
    <TD STYLE="text-align: justify"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">We intend to use the net
    proceeds to us from this offering for working capital and other general corporate purposes and to repay the principal amount of $4,375,000
    in outstanding senior notes of the Company. See &ldquo;<I>Use of Proceeds</I>&rdquo; beginning on page 15.</FONT></TD></TR>
  <TR STYLE="vertical-align: top">
    <TD STYLE="padding-left: 9.25pt; text-indent: -9pt"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">&nbsp;</FONT></TD>
    <TD><FONT STYLE="font-family: Times New Roman, Times, Serif">&nbsp;</FONT></TD>
    <TD STYLE="text-align: justify"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">&nbsp;</FONT></TD></TR>
  <TR STYLE="vertical-align: top">
    <TD STYLE="padding-left: 9.25pt; text-indent: -9pt"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">Listing</FONT></TD>
    <TD><FONT STYLE="font-family: Times New Roman, Times, Serif">&nbsp;</FONT></TD>
    <TD STYLE="text-align: justify"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">Our common stock is listed
    on The Nasdaq Capital Market under the symbol &ldquo;CYN&rdquo;. There is no established public trading market for the Units, Pre-Funded
    Units, Warrants or Pre-Funded Warrants, and we do not intend to list theses securities on any national securities exchange or trading
    system.</FONT></TD></TR>
  </TABLE>
<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">&nbsp;</FONT></P>

<TABLE CELLSPACING="0" CELLPADDING="0" STYLE="font: 10pt Times New Roman, Times, Serif; width: 100%; border-collapse: collapse">
  <TR STYLE="vertical-align: top">
    <TD STYLE="width: 25%; padding-left: 9.25pt; text-indent: -9pt"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">Assumed
    Public Offering Price</FONT></TD>
    <TD STYLE="width: 1%"><FONT STYLE="font-family: Times New Roman, Times, Serif">&nbsp;</FONT></TD>
    <TD STYLE="width: 74%; text-align: justify"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">$6.53&nbsp;per
    Unit, the closing price of our common stock on November 21, 2024.</FONT></TD></TR>
  <TR STYLE="vertical-align: top">
    <TD STYLE="padding-left: 9.25pt; text-align: justify; text-indent: -9pt"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">&nbsp;</FONT></TD>
    <TD><FONT STYLE="font-family: Times New Roman, Times, Serif">&nbsp;</FONT></TD>
    <TD STYLE="text-align: justify"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">&nbsp;</FONT></TD></TR>
  <TR STYLE="vertical-align: top">
    <TD STYLE="padding-left: 9.25pt; text-indent: -9pt"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">Risk
    Factors</FONT></TD>
    <TD><FONT STYLE="font-family: Times New Roman, Times, Serif">&nbsp;</FONT></TD>
    <TD STYLE="text-align: justify"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">You should carefully consider
    the information set forth in this prospectus and, in particular, the specific factors set forth in the &ldquo;<I>Risk Factors</I>&rdquo;
    section beginning on page 9 of this prospectus before deciding whether or not to invest in shares of our common stock.</FONT></TD></TR>
  <TR STYLE="vertical-align: top">
    <TD STYLE="padding-left: 9.25pt; text-indent: -9pt"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">&nbsp;</FONT></TD>
    <TD><FONT STYLE="font-family: Times New Roman, Times, Serif">&nbsp;</FONT></TD>
    <TD STYLE="text-align: justify"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">&nbsp;</FONT></TD></TR>
  <TR STYLE="vertical-align: top">
    <TD STYLE="padding-left: 9.25pt; text-indent: -9pt"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">Lock-Up
    Agreements</FONT></TD>
    <TD><FONT STYLE="font-family: Times New Roman, Times, Serif">&nbsp;</FONT></TD>
    <TD STYLE="text-align: justify"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">Our officers and directors
    have agreed, for a period of 60 days after the Warrant Stockholder Approval Date, subject to certain exceptions, not to offer, sell,
    contract to sell, encumber, grant any option for the sale of or otherwise dispose of any shares of our common stock or other securities
    convertible into or exercisable or exchangeable for shares of our common stock without the prior written consent of the underwriter.</FONT></TD></TR>
  </TABLE>
<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">&nbsp;</FONT></P>

<P STYLE="text-align: justify; font: 10pt Times New Roman, Times, Serif; margin: 0pt 0"><FONT STYLE="font-family: Times New Roman, Times, Serif">Unless
otherwise indicated, all information contained in this prospectus assumes the sale of all of the shares offered hereby at an assumed
public offering price of $6.53 per share and no sale of any Pre-funded Warrants. The number of shares of our common stock that are and
will be outstanding immediately before and after this offering as shown above is based on 2,431,784 shares outstanding as of November
21, 2024. The number of shares outstanding as of November 21, 2024, as used throughout this prospectus, unless otherwise indicated, excludes,
as of that date:</FONT></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">&nbsp;</FONT></P>

<TABLE CELLSPACING="0" CELLPADDING="0" STYLE="font: 10pt Times New Roman, Times, Serif; width: 100%; border-collapse: collapse">
  <TR STYLE="vertical-align: top">
    <TD STYLE="width: 48px; text-align: justify"><FONT STYLE="font-family: Times New Roman, Times, Serif">&nbsp;</FONT></TD>
    <TD STYLE="width: 24px; text-align: justify"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">&#9679;&nbsp;</FONT></TD>
    <TD STYLE="text-align: justify"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">162,566 shares of common
    stock issuable upon the exercise of outstanding stock options with a weighted-average exercise price of $96.90 per share;&nbsp;</FONT></TD></TR>
  <TR STYLE="vertical-align: top">
    <TD STYLE="text-align: justify"><FONT STYLE="font-family: Times New Roman, Times, Serif">&nbsp;</FONT></TD>
    <TD STYLE="text-align: justify"><FONT STYLE="font-family: Times New Roman, Times, Serif">&nbsp;</FONT></TD>
    <TD STYLE="text-align: justify"><FONT STYLE="font-family: Times New Roman, Times, Serif">&nbsp;</FONT></TD></TR>
  <TR STYLE="vertical-align: top">
    <TD STYLE="text-align: justify"><FONT STYLE="font-family: Times New Roman, Times, Serif">&nbsp;</FONT></TD>
    <TD STYLE="text-align: justify"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">&#9679;&nbsp;</FONT></TD>
    <TD STYLE="text-align: justify"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">2,400 shares of common
    stock issuable upon vesting of restricted stock unit awards;&nbsp;</FONT></TD></TR>
  <TR STYLE="vertical-align: top">
    <TD STYLE="text-align: justify"><FONT STYLE="font-family: Times New Roman, Times, Serif">&nbsp;</FONT></TD>
    <TD STYLE="text-align: justify"><FONT STYLE="font-family: Times New Roman, Times, Serif">&nbsp;</FONT></TD>
    <TD STYLE="text-align: justify"><FONT STYLE="font-family: Times New Roman, Times, Serif">&nbsp;</FONT></TD></TR>
  <TR STYLE="vertical-align: top">
    <TD STYLE="text-align: justify"><FONT STYLE="font-family: Times New Roman, Times, Serif">&nbsp;</FONT></TD>
    <TD STYLE="text-align: justify"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">&#9679;&nbsp;</FONT></TD>
    <TD STYLE="text-align: justify"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">91,902 shares of common
    stock reserved for future issuance under our 2021 Equity Incentive Plan; and&nbsp;</FONT></TD></TR>
  <TR STYLE="vertical-align: top">
    <TD STYLE="text-align: justify"><FONT STYLE="font-family: Times New Roman, Times, Serif">&nbsp;</FONT></TD>
    <TD STYLE="text-align: justify"><FONT STYLE="font-family: Times New Roman, Times, Serif">&nbsp;</FONT></TD>
    <TD STYLE="text-align: justify"><FONT STYLE="font-family: Times New Roman, Times, Serif">&nbsp;</FONT></TD></TR>
  <TR STYLE="vertical-align: top">
    <TD STYLE="text-align: justify"><FONT STYLE="font-family: Times New Roman, Times, Serif">&nbsp;</FONT></TD>
    <TD STYLE="text-align: justify"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">&#9679;</FONT></TD>
    <TD STYLE="text-align: justify"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">65,271 shares of common
    stock issuable upon exercise of warrants to purchase common stock with a weighted-average exercise price of $285.29 per share.</FONT></TD></TR>
  </TABLE>
<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0"></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt"><B>&nbsp;</B></FONT></P>

</DIV>


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<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: center; background-color: white"><FONT STYLE="font-family: Times New Roman, Times, Serif">&nbsp;</FONT></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: center; background-color: white"><FONT STYLE="font-family: Times New Roman, Times, Serif"><A NAME="cy_004"></A><FONT STYLE="font-size: 10pt"><B>RISK
FACTORS</B></FONT></FONT></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; background-color: white"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">&nbsp;</FONT></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; text-indent: 0.5in; margin: 0pt 0; text-align: justify; background-color: white"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt"><I>An
investment in our securities involves a high degree of risk. You should carefully consider the following risks and all of the other information
contained or incorporated by reference in this prospectus before deciding whether to invest in our&nbsp;securities,&nbsp;including the
risks and uncertainties described below and under the caption &ldquo;Risk Factors&rdquo; in our most recently filed Annual Report on
Form 10-K and Quarterly Report on Form 10-Q filed with the SEC, in each case as these risk factors are amended or supplemented by subsequent
Annual Reports on Form 10-K or Quarterly Reports on Form 10-Q. Our business, financial condition, results of operations and future prospects
may be adversely affected as a result of such risks. In such an event, the market price of our common stock could decline, and you could
lose part or all of your investment.</I></FONT></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; background-color: white"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt"><I>&nbsp;</I></FONT></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt"><B>Risks
Related to this Offering and the Ownership of Our Securities</B></FONT></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">&nbsp;</FONT></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt"><B><I>Our
management will have broad discretion over the use of the net proceeds from this offering.</I></B></FONT></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">&nbsp;</FONT></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">Our
management will have broad discretion as to the use of any net proceeds from this offering and could use them for purposes other than
those contemplated at the time of this offering. As of the date of this prospectus, we intend to use the net proceeds of this offering
for general corporate purposes, including working capital and repayment of outstanding notes, as contractually required. While management
intends to use the net proceeds in a manner that furthers our business objectives and maximizes the value for our investors, investors
will have limited visibility into the specific uses of the net proceeds. This wide-ranging discretion allows management to allocate funds
to areas that investors might not deem a priority or in their best interest. Consequently, the success of the investment is substantially
dependent on the judgment of our management with regard to the application of the net proceeds. Investors should be aware that the broad
discretion in the use of proceeds increases the risk of their investment, as it may reduce the ability to assess the viability and potential
return of the investment. See &ldquo;<I>Use of Proceeds</I>.&rdquo;</FONT></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">&nbsp;</FONT></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt"><B><I>There
is no established public trading market for the Units, Pre-Funded Units, Warrants or Pre-Funded Warrants being offered in this offering,
and we do not expect markets to develop for these securities.</I></B></FONT></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">&nbsp;</FONT></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">There
is no established public trading market for the Units, Pre-Funded Units, Warrants or Pre-Funded Warrants being offered in this offering,
and we do not expect markets to develop for these securities. In addition, we do not intend to apply to list the Units, Pre-Funded Units,
Warrants or Pre-Funded Warrants on any national securities exchange or other nationally recognized trading system. Without an active
market, the liquidity of the Units, Pre-Funded Units, Warrants and Pre-Funded Warrants will be limited.</FONT></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">&nbsp;</FONT></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt"><B><I>The
Warrants may have an adverse effect on the market price of our common stock and make it more difficult to effect a business combination.</I></B></FONT></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt"><B><I>&nbsp;</I></B></FONT></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">We
will be issuing Warrants and Pre-Funded Warrants to purchase shares of common stock as part of this offering. To the extent we issue
shares of common stock to effect a future business combination, the potential for the issuance of a substantial number of additional
shares upon exercise of the Warrants or Pre-Funded Warrants could make us a less attractive acquisition vehicle in the eyes of a target
business. Such warrants, when exercised, will increase the number of issued and outstanding shares of common stock and reduce the value
of the shares issued to complete the business combination. Accordingly, the Pre-Funded Warrants and Warrants may make it more difficult
to effectuate a business combination or increase the cost of acquiring a target business. Additionally, the sale, or even the possibility
of a sale, of the shares of common stock underlying the Pre-Funded Warrants and Warrants could have an adverse effect on the market price
for our securities or on our ability to obtain future financing. If and to the extent the Pre-Funded Warrants and Warrants are exercised,
you may experience dilution to your holdings.&nbsp;</FONT></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">&nbsp;</FONT></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify"></P>

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<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify"><FONT STYLE="font-family: Times New Roman, Times, Serif">&nbsp;</FONT></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt"><B><I>The
Warrants and Pre-Funded Warrants are speculative in nature.</I></B></FONT></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">&nbsp;</FONT></P>



<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in"><FONT STYLE="font-family: Times New Roman, Times, Serif">Except
as otherwise set forth in the Pre-Funded Warrants and Warrants, the Pre-Funded Warrants and Warrants offered in this offering do not
confer any rights of common stock ownership on their holders, such as voting rights, but rather merely represent the right to acquire
shares of our common stock at a fixed price for a limited period of time. Specifically, commencing upon Warrant Stockholder Approval,
holders of the Series A Warrants may exercise their right to acquire the common stock and pay an exercise price of $8.16 per share (125%
of the assumed offering price per Unit), subject to adjustment, from time to time, until the 5 year anniversary from the date of the
Warrant Stockholder Approval, after which date any unexercised Series A Warrants will expire and have no further value, and holders of
the Pre-Funded Warrants may exercise their right to acquire the common stock and pay an exercise price of $0.0001 per share, subject
to adjustment, from time to time, until all of the Pre-Funded Warrants have been exercised; and commencing upon Warrant Stockholder Approval,
holders of Series B Warrants may exercise their right to acquire the common stock and pay an exercise price of $8.16 per share 125% of
the assumed offering price per Unit), subject to adjustment, from time to time, until the two and one half year anniversary from the
date of Warrant Stockholder Approval, after which date any unexercised Series B Warrants will expire and have no further value.</FONT></P>
<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in"><P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">&nbsp;</FONT></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt"><B><I>The
Warrants may not be exercised until we receive the Warrant Stockholder Approval.</I></B></FONT></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">&nbsp;</FONT></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">Under
Nasdaq listing rules, the Warrants may not be exercised unless and until we obtain the Warrant Stockholder Approval. While we intend
to promptly seek stockholder approval, there is no guarantee that the Warrant Stockholder Approval will ever be obtained. If we are unable
to obtain the Warrant Stockholder Approval, the Warrants will have substantially less value. In addition, we will incur substantial costs,
and management will devote substantial time and attention, in attempting to obtain the Warrant Stockholder Approval.</FONT></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">&nbsp;</FONT></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt"><B><I>Since
the Pre-Funded Warrants and Warrants are executory contracts, they may have no value in a bankruptcy or reorganization proceeding.</I></B></FONT></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">&nbsp;</FONT></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">In
the event a bankruptcy or reorganization proceeding is commenced by or against us, a bankruptcy court may hold that any unexercised Warrants
or Pre-Funded Warrants are executory contracts that are subject to rejection by us with the approval of the bankruptcy court. As a result,
holders of the Warrants and Pre-Funded Warrants may, even if we have sufficient funds, not be entitled to receive any consideration for
their Warrants or Pre-Funded Warrants or may receive an amount less than they would be entitled to if they had exercised their Warrants
or Pre-Funded Warrants prior to the commencement of any such bankruptcy or reorganization proceeding.</FONT></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">&nbsp;</FONT></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt"><B><I>Stockholders
may experience future dilution as a result of this and future equity offerings.</I></B></FONT></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">&nbsp;</FONT></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">In
order to raise additional capital, we may in the future offer additional shares of our common stock or other securities convertible into
or exchangeable for our common stock. Investors purchasing our shares or other securities in the future could have rights superior to
existing common stockholders, and the price per share at which we sell additional shares of our common stock or other securities convertible
into or exchangeable for our common stock in future transactions may be higher or lower than the price per share in this offering.</FONT></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">&nbsp;</FONT></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt"><B><I>You
will experience immediate and substantial dilution in the net tangible book value per share of the common stock included in the Units.</I></B></FONT></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">&nbsp;</FONT></P>


<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in"><FONT STYLE="font-family: Times New Roman, Times, Serif">The
effective price per share of common stock included in the Units is substantially higher than the net tangible book value per share of
our common stock outstanding prior to this offering. Assuming the sale of all Units in this offering and no sale of any Pre-Funded Units,
if you purchase Units in this offering, you will suffer immediate and substantial dilution of $1.98 per share, with respect to the net
tangible book value of the common stock as of September 30, 2024. See the section titled &ldquo;<I>Dilution</I>&rdquo; below for a more
detailed discussion of the dilution you will incur if you purchase Units in this offering.</FONT></P>
<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in"><P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">&nbsp;</FONT></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt"><B><I>If
securities or industry analysts do not publish research or publish inaccurate or unfavorable research about our business, our stock price
and trading volume could decline.</I></B></FONT></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">&nbsp;</FONT></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">The
trading market for our common stock will depend in part on the research and reports that securities or industry analysts publish about
us or our business. Several analysts may cover our stock. If one or more of those analysts downgrade our stock or publish inaccurate
or unfavorable research about our business, our stock price would likely decline. If one or more of these analysts cease coverage of
our Company or fail to publish reports on us regularly, demand for our stock could decrease, which might cause our stock price and trading
volume to decline.</FONT></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">&nbsp;</FONT></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0"></P>

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<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">&nbsp;</FONT></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt"><B><I>You
may experience future dilution as a result of future equity offerings or acquisitions.</I></B></FONT></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">&nbsp;</FONT></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">In
order to raise additional capital, we may in the future offer additional shares of our common stock or other securities convertible into
or exchangeable for our common stock at prices that may not be the same as the price per share in this offering. We may sell shares or
other securities in any future offering at a price per share that is less than the price per share paid by investors in this offering,
and investors purchasing shares or other securities in the future could have rights superior to existing stockholders. The price per
share at which we sell additional shares of our common stock, or securities convertible or exchangeable into our common stock, in future
transactions or acquisitions may be higher or lower than the price per share paid by investors in this offering.</FONT></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">&nbsp;</FONT></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt"><B><I>Our
management will have broad discretion over the use of the net proceeds from this offering.</I></B></FONT></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">&nbsp;</FONT></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">This
offering grants our management broad discretion in the application of the net proceeds. While management intends to use the net proceeds
in a manner that furthers our business objectives and maximizes the value for our investors, investors will have limited visibility into
the specific uses of the net proceeds. This wide-ranging discretion allows management to allocate funds to areas that investors might
not deem a priority or in their best interest. Consequently, the success of the investment is substantially dependent on the judgment
of our management with regard to the application of the net proceeds. Investors should be aware that the broad discretion in the use
of proceeds increases the risk of their investment, as it may reduce the ability to assess the viability and potential return of the
investment. See &ldquo;<I>Use of Proceeds</I>.&rdquo;</FONT></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">&nbsp;</FONT></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt"><B><I>Our
common stock may be affected by limited trading volume and price fluctuations, which could adversely impact the value of the Securities.</I></B></FONT></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">&nbsp;</FONT></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in"><FONT STYLE="font-family: Times New Roman, Times, Serif">Although
our common stock is traded on The Nasdaq Capital Market, the volume of trading has historically been limited. Our average daily trading
volume of our shares from January 1, 2024 to September 30, 2024 was approximately 389,192 shares. Thinly traded stocks can be more volatile
than stock trading in a more active public market. We cannot predict whether and to what the extent to which an active public market
for our common stock will develop or be sustained. Therefore, a holder of our common stock who wishes to sell his or her shares may not
be able to do so immediately or at an acceptable price.</FONT></P>
<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in"><P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">&nbsp;</FONT></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">In
addition, our common stock has experienced, and is likely to experience, significant price and volume fluctuations in the future, which
could adversely affect the market prices of our common stock without regard to our operating performance. In addition, we believe that
factors such as quarterly fluctuations in our financial results and changes in the overall economy or the condition of the financial
markets could cause the market prices of our common stock to fluctuate substantially. These fluctuations may also cause short sellers
to periodically enter the market in the belief that we will have poor results in the future. We cannot predict the actions of market
participants and, therefore, can offer no assurances that the market for our common stock will be stable or appreciate over time.</FONT></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">&nbsp;</FONT></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt"><B><I>An
investment in our securities is speculative, and there can be no assurance of any return on any such investment.</I></B></FONT></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">&nbsp;</FONT></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">Investors
are cautioned that an investment in the securities offered hereby is highly speculative and involves a significant degree of risk. The
success of our business and the ability to achieve our business goals and objectives, as outlined in this prospectus, are subject to
numerous uncertainties, contingencies and risks. As such, there is no assurance that investors will realize a return on their investment
or that they will not lose their entire investment. Potential investors should carefully consider whether such a speculative investment
is suitable for their financial situation and investment objectives before purchasing securities.</FONT></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">&nbsp;</FONT></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify"></P>

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<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify"><FONT STYLE="font-family: Times New Roman, Times, Serif">&nbsp;</FONT></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt"><B><I>We
may need, but be unable, to obtain additional funding on satisfactory terms, which could dilute our stockholders or impose burdensome
financial restrictions on our business.</I></B></FONT></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">&nbsp;</FONT></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">We
have relied upon cash from financing activities, and, in the future, we hope to rely on revenues generated from operations to fund the
cash requirements of our activities. However, there can be no assurance that we will be able to generate significant cash from our operating
activities in the future. Future financing may not be available on a timely basis, in sufficient amounts or on terms acceptable to us,
if at all. Any debt financing or other financing of securities senior to the common stock will likely include financial and other covenants
that will restrict our flexibility. Any failure to comply with these covenants would have a material adverse effect on our business,
prospects, financial condition and results of operations because we could lose our existing sources of funding, and our ability to secure
new sources of funding could be impaired.</FONT></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">&nbsp;</FONT></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt"><B><I>The
requirements of being a public company may strain our resources, divert management&rsquo;s attention and affect our results of operations.</I></B></FONT></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">&nbsp;</FONT></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">As
a public company, we face increased legal, accounting, administrative and other costs and expenses. We are subject to the reporting requirements
of the Exchange Act and the Sarbanes-Oxley Act of 2002 (the &ldquo;Sarbanes Oxley-Act&rdquo;). The Exchange Act requires, among other
things, that we file annual, quarterly and current reports with respect to our business and financial condition. The Sarbanes- Oxley
Act requires, among other things, that we maintain effective disclosure controls and procedures and internal control over financial reporting.
For example, Section 404 requires that our management report on the effectiveness of our internal controls structure and procedures for
financial reporting. Section 404 compliance may divert internal resources and will take a significant amount of time and effort to complete.
If we fail to maintain compliance under Section 404, we could be subject to sanctions or investigations by Nasdaq, the SEC, or other
regulatory authorities. Furthermore, investor perceptions of our Company may suffer, and this could cause a decline in the market price
of our common stock. Any continued failure of our internal control over financial reporting could have a material adverse effect on our
stated results of operations and harm our reputation. If we are unable to implement these changes effectively or efficiently, it could
harm our operations, financial reporting or financial results and could result in an adverse opinion on internal controls from our independent
auditors. We may need to hire a number of additional employees with public accounting and disclosure experience in order to meet our
ongoing obligations as a public company, particularly if we become fully subject to Section 404 and its auditor attestation requirements,
which will increase costs, and evaluate the costs of our current service providers. We expect these rules and regulations to increase
our legal and financial compliance costs and to make some activities more time- consuming and costly, although we are currently unable
to estimate these costs with any degree of certainty. A number of those requirements will require us to carry out activities we have
not done previously. Our management team and other personnel will need to devote a substantial amount of time to new compliance initiatives
and to meeting the obligations that are associated with being a public company, which may divert attention from other business concerns,
which could have a material adverse effect on our business, financial condition and results of operations.</FONT></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">&nbsp;</FONT></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">Additionally,
the expenses incurred by public companies generally for reporting and corporate governance purposes have been increasing. These increased
costs will require us to divert a significant amount of money that we could otherwise use to develop our business. If we are unable to
satisfy our obligations as a public company, we could be subject to delisting of our common stock, fines, sanctions and other regulatory
action and potentially civil litigation.</FONT></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">&nbsp;</FONT></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; background-color: white"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt"><B><I>If
we are not able to comply with the applicable continued listing requirements or standards of The NASDAQ Capital Market, The NASDAQ Capital
Market could delist and adversely affect the market price and liquidity of our common stock.</I></B></FONT></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; background-color: white"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">&nbsp;</FONT></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in; background-color: white"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">Our
common stock is currently traded on The NASDAQ Capital Market under the symbol &ldquo;CYN&rdquo;. We have in the past been, and may in
the future be, unable to comply with certain of the listing standards that we are required to meet to maintain the listing of our common
stock on The NASDAQ Capital Market. If we fail to meet any of the continued listing standards of The NASDAQ Capital Market, our common
stock will be delisted from The NASDAQ Capital Market.</FONT></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">&nbsp;</FONT></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt"><B><I>New
laws, regulations, and standards relating to corporate governance and public disclosure may create uncertainty for public companies,
increase legal and financial compliance costs and make some activities more time consuming.</I></B></FONT></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">&nbsp;</FONT></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">These
laws, regulations and standards are subject to varying interpretations, in many cases due to their lack of specificity, and, as a result,
may evolve over time as new guidance is provided by the courts and other bodies. This could result in continuing uncertainty regarding
compliance matters and higher costs necessitated by ongoing revisions to disclosure and governance practices. If our efforts to comply
with new laws, regulations, and standards differ from the activities intended by regulatory or governing bodies due to ambiguities related
to their application and practice, regulatory authorities may initiate legal proceedings against us, and our business may be adversely
affected.</FONT></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt"><B><I>&nbsp;</I></B></FONT></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify"></P>

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<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify"><FONT STYLE="font-family: Times New Roman, Times, Serif">&nbsp;</FONT></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt"><B><I>As
a &ldquo;smaller reporting company&rdquo; under applicable law, we are subject to lessened disclosure requirements, which could leave
our stockholders without information or rights available to stockholders of more mature companies.</I></B></FONT></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">&nbsp;</FONT></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">We
are a &ldquo;smaller reporting company&rdquo; as defined in Rule 12b-2 of the Exchange Act. As a smaller reporting company, we are permitted
to comply with reduced disclosure obligations in our SEC filings compared to larger public companies. This includes, but is not limited
to, simplified executive compensation disclosures, reduced financial statement requirements, and less stringent narrative disclosure
obligations. While these scaled disclosure requirements may reduce the burden on us and provide some cost savings, investors should be
aware that they may also receive less information about the Company than they would from a larger public reporting company. The designation
as a smaller reporting company and the accompanying reduced disclosure requirements could make it more difficult for investors to fully
assess the value and risks of an investment in our securities. Consequently, the designation as a smaller reporting company under the
SEC rules increases the risk to investors, as it may limit the amount of publicly available information to assess the Company&rsquo;s
performance, prospects, and financial health. Potential investors should consider the implications of these reduced disclosure requirements
when making an investment decision.</FONT></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">&nbsp;</FONT></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt"><B><I>We
currently do not intend to declare dividends on our common stock in the foreseeable future and, as a result, your returns on your investment
may depend solely on the appreciation of our common stock.</I></B></FONT></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">&nbsp;</FONT></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">We
have not declared any cash dividends since inception. While our board of directors in September 2023, declared a one-time special stock
dividend of 10% on our issued and outstanding shares of our common stock, we currently do not anticipate paying any dividends in the
foreseeable future. This reinvestment strategy means that investors should not expect to receive any return on their investment through
dividend payments. Consequently, any return on investment will likely depend on the appreciation of the price of our common stock, which
may never occur. Investors should be aware that the possibility of a lack of dividend income can significantly reduce the potential for
income from their investment in our Company, and the only opportunity for achieving a return on their investment may be through the sale
of their shares at a price greater than their purchase price, which may not be possible. This risk is compounded by the market&rsquo;s
volatile nature and the speculative nature of our business, which may not lead to sufficient profits or operational cash flows to enable
dividend payments in the future. Potential investors should carefully consider the long-term nature of an investment in our company,
given our intention not to pay dividends and the consequent requirement for investors to seek returns through other means, such as capital
appreciation, which may not materialize.</FONT></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">&nbsp;</FONT></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt"><B><I>You
should consult your own independent tax advisor regarding any tax matters arising with respect to the securities offered in connection
with this offering.</I></B></FONT></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">&nbsp;</FONT></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">Participation
in this offering could result in various tax-related consequences for investors. All prospective purchasers of the resold securities
are advised to consult their own independent tax advisors regarding the U.S. federal, state, local and non-U.S. tax consequences relevant
to the purchase, ownership and disposition of the resold securities in their particular situations.</FONT></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">&nbsp;</FONT></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt"><B><I>We
may be subject to securities litigation, which is expensive and could divert our management&rsquo;s attention.</I></B></FONT></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">&nbsp;</FONT></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">The
market price of our securities may be volatile, and in the past companies that have experienced volatility in the market price of their
securities have been subject to securities class action litigation. We may be the target of this type of litigation in the future. Securities
litigation against us could result in substantial costs and divert our management&rsquo;s attention from other business concerns.</FONT></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">&nbsp;</FONT></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt"><B><I>We
may be unable to repay our indebtedness under the notes, and any default could harm our financial condition and could lead to us losing
our intellectual property assets.</I></B></FONT></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt"><B><I>&nbsp;</I></B></FONT></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">In
November 2024, pursuant to a Securities Purchase Agreement, we issued Senior Notes having an aggregate principal amount of $4,375,000
with an original issue discount of 20%, and which rank senior to any other Company indebtedness and our capital stock in the event of
a liquidation, including the securities being offered hereby. The Notes will mature on February 12, 2025. While the Notes are outstanding,
the Company agreed to certain restrictive covenants, including covenants providing that the Company and its subsidiaries are not permitted
to incur any indebtedness, create any other liens or security interests on property or assets, make payments on any other indebtedness,
change its business, or license our intellectual property, unless the note holders give their prior written consent, which restrictions
could materially adversely impact our operations and prevent or delay the execution of our business plan, strategic transactions or capital
raising efforts.</FONT></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">&nbsp;</FONT></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">We
may be unable to repay our indebtedness under the notes. If we default on the notes, we will be subject to a 20% interest rate and be
required to grant to the note holders a security interest in our intellectual property to secure the payment obligations under the notes.
If the note holders seek to foreclose on their security interest in our intellectual property, we may lose some or all of our assets,
which could cause severe interruptions in our business practices or temporarily or permanently suspend our business operations. Our failure
to repay the notes and the consequences therefrom may negatively impact our financial condition and business operations and, in turn,
your investment in us.</FONT></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">&nbsp;</FONT></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify"></P>

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<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">&nbsp;</FONT></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: center"><FONT STYLE="font-family: Times New Roman, Times, Serif"><A NAME="cy_005"></A><FONT STYLE="font-size: 10pt; font-variant: small-caps"><B>SPECIAL
NOTE REGARDING FORWARD-LOOKING STATEMENTS</B></FONT></FONT></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">&nbsp;&nbsp;</FONT></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">All
statements in this prospectus and the documents incorporated by reference that are not historical facts should be considered &ldquo;Forward
Looking Statements&rdquo; within the meaning of the &ldquo;Safe Harbor&rdquo; provisions of the Private Securities Litigation Reform
Act of 1995. Such statements involve known and unknown risks, uncertainties and other factors that may cause actual results, performance
or achievements of the Company to be materially different from any future results, performance or achievements expressed or implied by
the forward-looking statements. Some of the forward-looking statements can be identified by the use words such as &ldquo;believe,&rdquo;
&ldquo;expect,&rdquo; &ldquo;may,&rdquo; &ldquo;estimates,&rdquo; &ldquo;should,&rdquo; &ldquo;seek,&rdquo; &ldquo;approximately,&rdquo;
&ldquo;intend,&rdquo; &ldquo;plan,&rdquo; &ldquo;estimate,&rdquo; &ldquo;project,&rdquo; &ldquo;continue&rdquo; or &ldquo;anticipates&rdquo;
or similar expressions or words, or the negatives of those expressions or words. These statements may be made directly in this prospectus
and they may also be incorporated by reference in this prospectus from other documents filed with the SEC, and include, but are not limited
to, statements about future financial and operating results and performance, statements about our plans, objectives, expectations and
intentions with respect to future operations, products and services, and other statements that are not historical facts. These forward-looking
statements are based upon the current beliefs and expectations of our management and are inherently subject to significant business,
economic and competitive uncertainties and contingencies, many of which are difficult to predict and generally beyond our control. In
addition, these forward-looking statements are subject to assumptions with respect to future business strategies and decisions that are
subject to change. Actual results may differ materially from the anticipated results discussed in these forward-looking statements.</FONT></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">&nbsp;</FONT></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">We
undertake no obligation to publicly update any forward-looking statement, whether as a result of new information, future developments
or otherwise, except as may be required by applicable laws or regulations.</FONT></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">&nbsp;</FONT></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify"></P>

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<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">&nbsp;</FONT></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: center"><FONT STYLE="font-family: Times New Roman, Times, Serif"><A NAME="cy_006"></A><FONT STYLE="font-size: 10pt; font-variant: small-caps"><B>USE
OF PROCEEDS</B></FONT></FONT></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">&nbsp;</FONT><P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in"><FONT STYLE="font-family: Times New Roman, Times, Serif">We
                                            estimate that the net proceeds to us from this offering will be $18.0 million after deducting
                                            placement agent fees and other estimated offering expenses payable by us for this offering
                                            assuming that we sell 100% of the securities offered in this offering (or approximately $13.4
                                            million, $8.8 million and $4.2 million if we sell 75%, 50% and 25% of the securities offered
                                            in this offering, respectively).</FONT></P>
<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in"><P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">&nbsp;</FONT></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">We
intend to use the net proceeds from this offering for working capital and other general corporate purposes and to repay the principal
amount of $4,375,000 in outstanding senior notes of the Company. The senior notes mature on February 12, 2025, and upon the occurrence
of an event of default, as defined in the senior notes, bears interest as the rate of 20% per annum. Pursuant to the terms of the senior
notes, we are required to apply 100% of the net proceeds of this offering to repay the senior notes.</FONT></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">&nbsp;</FONT></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">Investors
must rely on the judgment of our management, who will have broad discretion regarding the application of the remaining net proceeds of
this offering after repayment of our outstanding debt obligations. The amounts and timing of our actual expenditures will depend upon
numerous factors, including market conditions, cash generated by our operations (if any), business developments and the rate of our growth.
We may find it necessary or advisable to use portions of the proceeds of this offering for other purposes. Pending these uses, we intend
to invest the net proceeds of this offering in a money market or other interest-bearing account.</FONT></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt; font-variant: small-caps"><B>&nbsp;</B></FONT></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0"></P>

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<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt; font-variant: small-caps"><B>&nbsp;</B></FONT></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: center"><FONT STYLE="font-family: Times New Roman, Times, Serif"><A NAME="cy_007"></A><FONT STYLE="font-size: 10pt"><B>DIVIDEND
POLICY</B></FONT></FONT></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: center"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">&nbsp;</FONT></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">We
have not declared any cash dividends since inception. While our board of directors in September 2023, declared a one-time special stock
dividend of 10% on our issued and outstanding shares of our common stock, we currently do not anticipate paying any dividends in the
foreseeable future. We anticipate that all of our earnings will be used to provide working capital, to support our operations, and to
finance the growth and development of our business. The payment of dividends is within the discretion of our board of directors and will
depend on our earnings, capital requirements, financial condition, prospects, applicable Delaware law, which provides that dividends
are only payable out of surplus or current net profits, and other factors our board of directors might deem relevant. There are no restrictions
that currently limit our ability to pay dividends on our common stock other than those generally imposed by applicable state law.</FONT></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">&nbsp;</FONT></P>


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<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: center"><FONT STYLE="font-family: Times New Roman, Times, Serif">&nbsp;</FONT></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: center"><FONT STYLE="font-family: Times New Roman, Times, Serif"><A NAME="cy_008"></A><FONT STYLE="font-size: 10pt; font-variant: small-caps"><B>CAPITALIZATION</B></FONT></FONT></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: center"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">&nbsp;</FONT></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">The
following table sets forth our consolidated cash and capitalization, as of September 30, 2024. Such information is set forth on the following
basis:</FONT></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">&nbsp;</FONT></P>

<TABLE CELLSPACING="0" CELLPADDING="0" STYLE="font: 10pt Times New Roman, Times, Serif; width: 100%; border-collapse: collapse">
  <TR STYLE="vertical-align: top">
    <TD STYLE="text-align: justify; width: 0.5in"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">&nbsp;</FONT></TD>
    <TD STYLE="text-align: justify; width: 0.25in"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">&#9679;</FONT></TD>
    <TD STYLE="text-align: justify"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">on an actual basis;</FONT></TD></TR>
  <TR STYLE="vertical-align: top">
    <TD STYLE="text-align: justify"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">&nbsp;</FONT></TD>
    <TD STYLE="text-align: justify"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">&nbsp;</FONT></TD>
    <TD STYLE="text-align: justify"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">&nbsp;</FONT></TD></TR>
  <TR STYLE="vertical-align: top">
    <TD STYLE="text-align: justify"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">&nbsp;</FONT></TD>
    <TD STYLE="text-align: justify"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">&#9679;</FONT></TD>
    <TD STYLE="text-align: justify"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">on a pro forma basis giving
    effect to the sale and issuance of senior notes with an aggregate principal amount of $4,375,000 and an aggregate of 405,125 shares
    of common stock prior to the date of this prospectus; and</FONT></TD></TR>
  </TABLE>
<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">&nbsp;</FONT></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt"></FONT></P>

<TABLE CELLSPACING="0" CELLPADDING="0" STYLE="font: 10pt Times New Roman, Times, Serif; width: 100%; border-collapse: collapse">
  <TR STYLE="vertical-align: top">
    <TD STYLE="width: 0.5in; font-size: 10pt">&nbsp;</TD>
    <TD STYLE="width: 0.25in; font-size: 10pt"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">&#9679;</FONT></TD>
    <TD STYLE="text-align: justify; font-size: 10pt"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">on a pro forma as adjusted basis giving effect to the sale of 3,062,787 Units (assuming no sale of Pre-Funded Units and no exercise of the Warrants issued in connection with this offering) by us in this offering at an assumed public offering price of $6.53 per Unit, after deducting the underwriter discount and commissions, offering expenses and&nbsp;repayment of the principal amount of $4,375,000 in outstanding senior notes of the Company.</FONT></TD></TR>
  </TABLE>
<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt"></FONT>&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">You
should read the following table in conjunction with &ldquo;<I>Use of Proceeds</I>,&rdquo; &ldquo;<I>Management&rsquo;s Discussion and
Analysis of Financial Condition and Results of Operations</I>&rdquo; and our financial statements and related notes included in this
prospectus.</FONT></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">&nbsp;</FONT></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">The
pro forma as adjusted information set forth below is illustrative only and will be adjusted based on the actual public offering price
and other terms of this offering determined at pricing.</FONT></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">&nbsp;</FONT></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt"></FONT></P>

<TABLE CELLPADDING="0" CELLSPACING="0" STYLE="border-collapse: collapse; width: 100%; font: 10pt Times New Roman, Times, Serif">
  <TR STYLE="vertical-align: bottom">
    <TD STYLE="text-align: center">&nbsp;</TD><TD STYLE="font-weight: bold; padding-bottom: 1.5pt">&nbsp;</TD>
    <TD COLSPAN="10" STYLE="font-weight: bold; text-align: center; border-bottom: Black 1.5pt solid">As of September 30, 2024</TD><TD STYLE="padding-bottom: 1.5pt; font-weight: bold">&nbsp;</TD></TR>
  <TR STYLE="vertical-align: bottom">
    <TD STYLE="text-align: center">&nbsp;</TD><TD STYLE="font-weight: bold; padding-bottom: 1.5pt">&nbsp;</TD>
    <TD COLSPAN="2" STYLE="font-weight: bold; text-align: center; border-bottom: Black 1.5pt solid">Actual</TD><TD STYLE="padding-bottom: 1.5pt; font-weight: bold">&nbsp;</TD><TD STYLE="font-weight: bold; padding-bottom: 1.5pt">&nbsp;</TD>
    <TD COLSPAN="2" STYLE="font-weight: bold; text-align: center; border-bottom: Black 1.5pt solid">Pro Forma</TD><TD STYLE="padding-bottom: 1.5pt; font-weight: bold">&nbsp;</TD><TD STYLE="font-weight: bold; padding-bottom: 1.5pt">&nbsp;</TD>
    <TD COLSPAN="2" STYLE="font-weight: bold; text-align: center; border-bottom: Black 1.5pt solid">Pro&nbsp;Forma <BR> As Adjusted</TD><TD STYLE="padding-bottom: 1.5pt; font-weight: bold">&nbsp;</TD></TR>
  <TR STYLE="vertical-align: bottom; background-color: rgb(204,238,255)">
    <TD STYLE="width: 64%; font-weight: bold; padding-bottom: 1.5pt; text-indent: -9pt; padding-left: 9pt">Cash</TD><TD STYLE="width: 1%; padding-bottom: 1.5pt">&nbsp;</TD>
    <TD STYLE="width: 1%; border-bottom: Black 1.5pt solid; text-align: left">$</TD><TD STYLE="width: 9%; border-bottom: Black 1.5pt solid; text-align: right">1,974,441</TD><TD STYLE="width: 1%; padding-bottom: 1.5pt; text-align: left">&nbsp;</TD><TD STYLE="width: 1%; padding-bottom: 1.5pt">&nbsp;</TD>
    <TD STYLE="width: 1%; border-bottom: Black 1.5pt solid; text-align: left">$</TD><TD STYLE="width: 9%; border-bottom: Black 1.5pt solid; text-align: right">4,996,241</TD><TD STYLE="width: 1%; padding-bottom: 1.5pt; text-align: left">&nbsp;</TD><TD STYLE="width: 1%; padding-bottom: 1.5pt">&nbsp;</TD>
    <TD STYLE="width: 1%; border-bottom: Black 1.5pt solid; text-align: left">$</TD><TD STYLE="width: 9%; border-bottom: Black 1.5pt solid; text-align: right">18,623,779</TD><TD STYLE="width: 1%; padding-bottom: 1.5pt; text-align: left">&nbsp;</TD></TR>
  <TR STYLE="vertical-align: bottom; background-color: White">
    <TD STYLE="text-indent: -9pt; padding-left: 9pt">&nbsp;</TD><TD>&nbsp;</TD>
    <TD STYLE="text-align: left">&nbsp;</TD><TD STYLE="text-align: right">&nbsp;</TD><TD STYLE="text-align: left">&nbsp;</TD><TD>&nbsp;</TD>
    <TD STYLE="text-align: left">&nbsp;</TD><TD STYLE="text-align: right">&nbsp;</TD><TD STYLE="text-align: left">&nbsp;</TD><TD>&nbsp;</TD>
    <TD STYLE="text-align: left">&nbsp;</TD><TD STYLE="text-align: right">&nbsp;</TD><TD STYLE="text-align: left">&nbsp;</TD></TR>
  <TR STYLE="vertical-align: bottom; background-color: rgb(204,238,255)">
    <TD STYLE="font-weight: bold; text-align: left; padding-bottom: 1.5pt; text-indent: -9pt; padding-left: 9pt">Total indebtedness</TD><TD STYLE="padding-bottom: 1.5pt">&nbsp;</TD>
    <TD STYLE="border-bottom: Black 1.5pt solid; text-align: left">$</TD><TD STYLE="border-bottom: Black 1.5pt solid; text-align: right">1,831,977</TD><TD STYLE="padding-bottom: 1.5pt; text-align: left">&nbsp;</TD><TD STYLE="padding-bottom: 1.5pt">&nbsp;</TD>
    <TD STYLE="border-bottom: Black 1.5pt solid; text-align: left">$</TD><TD STYLE="border-bottom: Black 1.5pt solid; text-align: right">6,206,977</TD><TD STYLE="padding-bottom: 1.5pt; text-align: left">&nbsp;</TD><TD STYLE="padding-bottom: 1.5pt">&nbsp;</TD>
    <TD STYLE="border-bottom: Black 1.5pt solid; text-align: left">$</TD><TD STYLE="border-bottom: Black 1.5pt solid; text-align: right">1,831,977</TD><TD STYLE="padding-bottom: 1.5pt; text-align: left">&nbsp;</TD></TR>
  <TR STYLE="vertical-align: bottom; background-color: White">
    <TD STYLE="text-indent: -9pt; padding-left: 9pt">&nbsp;</TD><TD>&nbsp;</TD>
    <TD STYLE="text-align: left">&nbsp;</TD><TD STYLE="text-align: right">&nbsp;</TD><TD STYLE="text-align: left">&nbsp;</TD><TD>&nbsp;</TD>
    <TD STYLE="text-align: left">&nbsp;</TD><TD STYLE="text-align: right">&nbsp;</TD><TD STYLE="text-align: left">&nbsp;</TD><TD>&nbsp;</TD>
    <TD STYLE="text-align: left">&nbsp;</TD><TD STYLE="text-align: right">&nbsp;</TD><TD STYLE="text-align: left">&nbsp;</TD></TR>
  <TR STYLE="vertical-align: bottom; background-color: rgb(204,238,255)">
    <TD STYLE="font-weight: bold; text-align: left; text-indent: -9pt; padding-left: 9pt">Stockholders&rsquo; equity:</TD><TD>&nbsp;</TD>
    <TD STYLE="text-align: left">&nbsp;</TD><TD STYLE="text-align: right">&nbsp;</TD><TD STYLE="text-align: left">&nbsp;</TD><TD>&nbsp;</TD>
    <TD STYLE="text-align: left">&nbsp;</TD><TD STYLE="text-align: right">&nbsp;</TD><TD STYLE="text-align: left">&nbsp;</TD><TD>&nbsp;</TD>
    <TD STYLE="text-align: left">&nbsp;</TD><TD STYLE="text-align: right">&nbsp;</TD><TD STYLE="text-align: left">&nbsp;</TD></TR>
  <TR STYLE="vertical-align: bottom; background-color: White">
    <TD STYLE="text-align: left; text-indent: -9pt; padding-left: 9pt">Common shares 2,026,575 issued and outstanding at September 30, 2024</TD><TD>&nbsp;</TD>
    <TD STYLE="text-align: left">$</TD><TD STYLE="text-align: right">20</TD><TD STYLE="text-align: left">&nbsp;</TD><TD>&nbsp;</TD>
    <TD STYLE="text-align: left">$</TD><TD STYLE="text-align: right">24</TD><TD STYLE="text-align: left">&nbsp;</TD><TD>&nbsp;</TD>
    <TD STYLE="text-align: left">&nbsp;</TD><TD STYLE="text-align: right">55</TD><TD STYLE="text-align: left">&nbsp;</TD></TR>
  <TR STYLE="vertical-align: bottom; background-color: rgb(204,238,255)">
    <TD STYLE="text-align: left; text-indent: -9pt; padding-left: 9pt">Additional Paid-in Capital</TD><TD>&nbsp;</TD>
    <TD STYLE="text-align: left">$</TD><TD STYLE="text-align: right">183,883,194</TD><TD STYLE="text-align: left">&nbsp;</TD><TD>&nbsp;</TD>
    <TD STYLE="text-align: left">$</TD><TD STYLE="text-align: right">186,904,990</TD><TD STYLE="text-align: left">&nbsp;</TD><TD>&nbsp;</TD>
    <TD STYLE="text-align: left">&nbsp;</TD><TD STYLE="text-align: right">204,907,497</TD><TD STYLE="text-align: left">&nbsp;</TD></TR>
  <TR STYLE="vertical-align: bottom; background-color: White">
    <TD STYLE="text-indent: -9pt; padding-left: 9pt">&nbsp;</TD><TD>&nbsp;</TD>
    <TD STYLE="text-align: left">&nbsp;</TD><TD STYLE="text-align: right">&nbsp;</TD><TD STYLE="text-align: left">&nbsp;</TD><TD>&nbsp;</TD>
    <TD STYLE="text-align: left">&nbsp;</TD><TD STYLE="text-align: right">&nbsp;</TD><TD STYLE="text-align: left">&nbsp;</TD><TD>&nbsp;</TD>
    <TD STYLE="text-align: left">&nbsp;</TD><TD STYLE="text-align: right">&nbsp;</TD><TD STYLE="text-align: left">&nbsp;</TD></TR>
  <TR STYLE="vertical-align: bottom; background-color: rgb(204,238,255)">
    <TD STYLE="text-align: left; padding-bottom: 1.5pt; text-indent: -9pt; padding-left: 9pt">Accumulated Deficit</TD><TD STYLE="padding-bottom: 1.5pt">&nbsp;</TD>
    <TD STYLE="border-bottom: Black 1.5pt solid; text-align: left">$</TD><TD STYLE="border-bottom: Black 1.5pt solid; text-align: right">(177,234,049</TD><TD STYLE="padding-bottom: 1.5pt; text-align: left">)</TD><TD STYLE="padding-bottom: 1.5pt">&nbsp;</TD>
    <TD STYLE="border-bottom: Black 1.5pt solid; text-align: left">$</TD><TD STYLE="border-bottom: Black 1.5pt solid; text-align: right">(177,234,049</TD><TD STYLE="padding-bottom: 1.5pt; text-align: left">)</TD><TD STYLE="padding-bottom: 1.5pt">&nbsp;</TD>
    <TD STYLE="border-bottom: Black 1.5pt solid; text-align: left">&nbsp;</TD><TD STYLE="border-bottom: Black 1.5pt solid; text-align: right">(177,234,049</TD><TD STYLE="padding-bottom: 1.5pt; text-align: left">)</TD></TR>
  <TR STYLE="vertical-align: bottom; background-color: White">
    <TD STYLE="text-align: left; text-indent: -9pt; padding-left: 9pt">Total Stockholders&rsquo; equity</TD><TD>&nbsp;</TD>
    <TD STYLE="text-align: left">$</TD><TD STYLE="text-align: right">6,649,165</TD><TD STYLE="text-align: left">&nbsp;</TD><TD>&nbsp;</TD>
    <TD STYLE="text-align: left">$</TD><TD STYLE="text-align: right">9,670,965</TD><TD STYLE="text-align: left">&nbsp;</TD><TD>&nbsp;</TD>
    <TD STYLE="text-align: left">&nbsp;</TD><TD STYLE="text-align: right">27,673,503</TD><TD STYLE="text-align: left">&nbsp;</TD></TR>
  <TR STYLE="vertical-align: bottom; background-color: rgb(204,238,255)">
    <TD STYLE="padding-bottom: 1.5pt; text-indent: -9pt; padding-left: 9pt">&nbsp;</TD><TD STYLE="padding-bottom: 1.5pt">&nbsp;</TD>
    <TD STYLE="border-bottom: Black 1.5pt solid; text-align: left">&nbsp;</TD><TD STYLE="border-bottom: Black 1.5pt solid; text-align: right">&nbsp;</TD><TD STYLE="padding-bottom: 1.5pt; text-align: left">&nbsp;</TD><TD STYLE="padding-bottom: 1.5pt">&nbsp;</TD>
    <TD STYLE="border-bottom: Black 1.5pt solid; text-align: left">&nbsp;</TD><TD STYLE="border-bottom: Black 1.5pt solid; text-align: right">&nbsp;</TD><TD STYLE="padding-bottom: 1.5pt; text-align: left">&nbsp;</TD><TD STYLE="padding-bottom: 1.5pt">&nbsp;</TD>
    <TD STYLE="border-bottom: Black 1.5pt solid; text-align: left">&nbsp;</TD><TD STYLE="border-bottom: Black 1.5pt solid; text-align: right">&nbsp;</TD><TD STYLE="padding-bottom: 1.5pt; text-align: left">&nbsp;</TD></TR>
  <TR STYLE="vertical-align: bottom; background-color: White">
    <TD STYLE="font-weight: bold; text-align: left; padding-bottom: 1.5pt; text-indent: -9pt; padding-left: 9pt">Total capitalization</TD><TD STYLE="padding-bottom: 1.5pt">&nbsp;</TD>
    <TD STYLE="border-bottom: Black 1.5pt solid; text-align: left">$</TD><TD STYLE="border-bottom: Black 1.5pt solid; text-align: right">6,649,165</TD><TD STYLE="padding-bottom: 1.5pt; text-align: left">&nbsp;</TD><TD STYLE="padding-bottom: 1.5pt">&nbsp;</TD>
    <TD STYLE="border-bottom: Black 1.5pt solid; text-align: left">$</TD><TD STYLE="border-bottom: Black 1.5pt solid; text-align: right">9,670,965</TD><TD STYLE="padding-bottom: 1.5pt; text-align: left">&nbsp;</TD><TD STYLE="padding-bottom: 1.5pt">&nbsp;</TD>
    <TD STYLE="border-bottom: Black 1.5pt solid; text-align: left">$</TD><TD STYLE="border-bottom: Black 1.5pt solid; text-align: right">27,673,503</TD><TD STYLE="padding-bottom: 1.5pt; text-align: left">&nbsp;</TD></TR>
  </TABLE>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt"></FONT><FONT STYLE="font-family: Times New Roman, Times, Serif">&nbsp;</FONT></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 0.5in; text-align: justify"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">The
information above excludes:</FONT></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">&nbsp;</FONT></P>

<TABLE CELLSPACING="0" CELLPADDING="0" STYLE="font: 10pt Times New Roman, Times, Serif; width: 100%; border-collapse: collapse">
  <TR STYLE="vertical-align: top">
    <TD STYLE="text-align: justify; width: 0.5in"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">&nbsp;</FONT></TD>
    <TD STYLE="text-align: justify; width: 0.25in"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">&#9679;&nbsp;</FONT></TD>
    <TD STYLE="text-align: justify"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">168,030 shares of common
    stock issuable upon the exercise of outstanding stock options with a weighted-average exercise price of $97.38 per share;&nbsp;</FONT></TD></TR>
  <TR STYLE="vertical-align: top">
    <TD STYLE="text-align: justify"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">&nbsp;</FONT></TD>
    <TD STYLE="text-align: justify"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">&nbsp;</FONT></TD>
    <TD STYLE="text-align: justify"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">&nbsp;</FONT></TD></TR>
  <TR STYLE="vertical-align: top">
    <TD STYLE="text-align: justify"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">&nbsp;</FONT></TD>
    <TD STYLE="text-align: justify"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">&#9679;&nbsp;</FONT></TD>
    <TD STYLE="text-align: justify"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">2,484 shares of common
    stock issuable upon vesting of restricted stock unit awards;&nbsp;</FONT></TD></TR>
  <TR STYLE="vertical-align: top">
    <TD STYLE="text-align: justify"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">&nbsp;</FONT></TD>
    <TD STYLE="text-align: justify"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">&nbsp;</FONT></TD>
    <TD STYLE="text-align: justify"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">&nbsp;</FONT></TD></TR>
  <TR STYLE="vertical-align: top">
    <TD STYLE="text-align: justify"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">&nbsp;</FONT></TD>
    <TD STYLE="text-align: justify"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">&#9679;&nbsp;</FONT></TD>
    <TD STYLE="text-align: justify"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">86,438 shares of common
    stock reserved for future issuance under our 2021 Equity Incentive Plan; and&nbsp;</FONT></TD></TR>
  <TR STYLE="vertical-align: top">
    <TD STYLE="text-align: justify"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">&nbsp;</FONT></TD>
    <TD STYLE="text-align: justify"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">&nbsp;</FONT></TD>
    <TD STYLE="text-align: justify"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">&nbsp;</FONT></TD></TR>
  <TR STYLE="vertical-align: top">
    <TD STYLE="text-align: justify"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">&nbsp;</FONT></TD>
    <TD STYLE="text-align: justify"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">&#9679;</FONT></TD>
    <TD STYLE="text-align: justify"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">72,369 shares of common
    stock issuable upon exercise of warrants to purchase common stock with a weighted-average exercise price of $283.89 per share.</FONT></TD></TR>
  </TABLE>
<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: center"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt; font-variant: small-caps"><B>&nbsp;</B></FONT></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: center"></P>

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<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: center"></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: center"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt; font-variant: small-caps"><B>&nbsp;</B></FONT></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: center"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt; font-variant: small-caps"><B><A NAME="cy_009"></A>DILUTION</B></FONT></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: center"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">&nbsp;</FONT></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">Purchasers
of our common stock in this offering will experience an immediate and substantial dilution in the pro forma net tangible book value of
their shares of common stock. Dilution in pro forma net tangible book value represents the difference between the public offering price
per share and the pro forma as adjusted net tangible book value per share of our common stock immediately after the offering.</FONT></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">&nbsp;</FONT></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">The
historical net tangible book value (deficit) of our common stock as of September 30, 2024 was $5,160,837 or $2.55 per share. Historical
net tangible book value per share of our common stock represents our total tangible assets (total assets less intangible assets) less
total liabilities divided by the number of shares of common stock outstanding as of that date.</FONT></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">&nbsp;</FONT></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">After
giving effect to the issuance of an aggregate of 405,125 shares of common stock from September 30, 2024 until the date of this prospectus,
our pro forma net tangible book value as of September 30, 2024 would have been $8,182,637 or approximately $3.36 per share of our common
stock.</FONT></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">&nbsp;</FONT></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in">After giving effect to the
pro forma adjustments set forth above and the sale of 3,062,787 Units in this offering at an assumed public offering price of $6.53 per
Unit, after deducting estimated underwriting discounts and commissions and estimated offering expenses, our pro forma as adjusted net
tangible book value as of September 30, 2024 would have been $23,163,375 or approximately $4.55 per share of common stock. This represents
an immediate increase in pro forma net tangible book value per share of $2.01 to the existing stockholders and an immediate dilution in
pro forma net tangible book value per share of $1.98 to new investors who purchase Units in the offering. The following table illustrates
this per share dilution to new investors:</P>
<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">&nbsp;</FONT></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify"></P>

<TABLE CELLPADDING="0" CELLSPACING="0" STYLE="border-collapse: collapse; width: 100%; font: 10pt Times New Roman, Times, Serif">
  <TR STYLE="vertical-align: bottom; background-color: rgb(204,238,255)">
    <TD STYLE="width: 76%; text-align: left; text-indent: -9pt; padding-left: 9pt"><FONT STYLE="font-family: Times New Roman, Times, Serif">Assumed
    public offering price per Unit</FONT></TD><TD STYLE="width: 1%"><FONT STYLE="font-family: Times New Roman, Times, Serif">&nbsp;</FONT></TD>
    <TD STYLE="width: 1%; text-align: left"><FONT STYLE="font-family: Times New Roman, Times, Serif">&nbsp;</FONT></TD><TD STYLE="width: 9%; text-align: right"><FONT STYLE="font-family: Times New Roman, Times, Serif">&nbsp;</FONT></TD><TD STYLE="width: 1%; text-align: left"><FONT STYLE="font-family: Times New Roman, Times, Serif">&nbsp;</FONT></TD><TD STYLE="width: 1%"><FONT STYLE="font-family: Times New Roman, Times, Serif">&nbsp;</FONT></TD>
    <TD STYLE="width: 1%; text-align: left"><FONT STYLE="font-family: Times New Roman, Times, Serif">$</FONT></TD><TD STYLE="width: 9%; text-align: right"><FONT STYLE="font-family: Times New Roman, Times, Serif">6.53</FONT></TD><TD STYLE="width: 1%; text-align: left"><FONT STYLE="font-family: Times New Roman, Times, Serif">&nbsp;</FONT></TD></TR>
  <TR STYLE="vertical-align: bottom; background-color: White">
    <TD STYLE="text-indent: -9pt; padding-left: 9pt"><FONT STYLE="font-family: Times New Roman, Times, Serif">Historical net tangible
    book value per share as of September 30, 2024</FONT></TD><TD><FONT STYLE="font-family: Times New Roman, Times, Serif">&nbsp;</FONT></TD>
    <TD STYLE="text-align: left"><FONT STYLE="font-family: Times New Roman, Times, Serif">$</FONT></TD><TD STYLE="text-align: right"><FONT STYLE="font-family: Times New Roman, Times, Serif">2.55</FONT></TD><TD STYLE="text-align: left"><FONT STYLE="font-family: Times New Roman, Times, Serif">&nbsp;</FONT></TD><TD><FONT STYLE="font-family: Times New Roman, Times, Serif">&nbsp;</FONT></TD>
    <TD STYLE="text-align: left"><FONT STYLE="font-family: Times New Roman, Times, Serif">&nbsp;</FONT></TD><TD STYLE="text-align: right"><FONT STYLE="font-family: Times New Roman, Times, Serif">&nbsp;</FONT></TD><TD STYLE="text-align: left"><FONT STYLE="font-family: Times New Roman, Times, Serif">&nbsp;</FONT></TD></TR>
  <TR STYLE="vertical-align: bottom; background-color: rgb(204,238,255)">
    <TD STYLE="text-align: left; text-indent: -9pt; padding-left: 9pt"><FONT STYLE="font-family: Times New Roman, Times, Serif">Increase
    in net tangible book value per share attributable to the pro forma adjustments described above</FONT></TD><TD><FONT STYLE="font-family: Times New Roman, Times, Serif">&nbsp;</FONT></TD>
    <TD STYLE="text-align: left"><FONT STYLE="font-family: Times New Roman, Times, Serif">$</FONT></TD><TD STYLE="text-align: right"><FONT STYLE="font-family: Times New Roman, Times, Serif">0.82</FONT></TD><TD STYLE="text-align: left"><FONT STYLE="font-family: Times New Roman, Times, Serif">&nbsp;</FONT></TD><TD><FONT STYLE="font-family: Times New Roman, Times, Serif">&nbsp;</FONT></TD>
    <TD STYLE="text-align: left"><FONT STYLE="font-family: Times New Roman, Times, Serif">&nbsp;</FONT></TD><TD STYLE="text-align: right"><FONT STYLE="font-family: Times New Roman, Times, Serif">&nbsp;</FONT></TD><TD STYLE="text-align: left"><FONT STYLE="font-family: Times New Roman, Times, Serif">&nbsp;</FONT></TD></TR>
  <TR STYLE="vertical-align: bottom; background-color: White">
    <TD STYLE="text-indent: -9pt; padding-left: 9pt"><FONT STYLE="font-family: Times New Roman, Times, Serif">Pro forma net tangible
    book value per share as of September 30, 2024</FONT></TD><TD><FONT STYLE="font-family: Times New Roman, Times, Serif">&nbsp;</FONT></TD>
    <TD STYLE="text-align: left"><FONT STYLE="font-family: Times New Roman, Times, Serif">$</FONT></TD><TD STYLE="text-align: right"><FONT STYLE="font-family: Times New Roman, Times, Serif">3.36</FONT></TD><TD STYLE="text-align: left"><FONT STYLE="font-family: Times New Roman, Times, Serif">&nbsp;</FONT></TD><TD><FONT STYLE="font-family: Times New Roman, Times, Serif">&nbsp;</FONT></TD>
    <TD STYLE="text-align: left"><FONT STYLE="font-family: Times New Roman, Times, Serif">&nbsp;</FONT></TD><TD STYLE="text-align: right"><FONT STYLE="font-family: Times New Roman, Times, Serif">&nbsp;</FONT></TD><TD STYLE="text-align: left"><FONT STYLE="font-family: Times New Roman, Times, Serif">&nbsp;</FONT></TD></TR>
  <TR STYLE="vertical-align: bottom; background-color: rgb(204,238,255)">
    <TD STYLE="text-align: left; text-indent: -9pt; padding-left: 9pt"><FONT STYLE="font-family: Times New Roman, Times, Serif">Increase
    in pro forma net tangible book value per share after giving effect to this offering</FONT></TD><TD><FONT STYLE="font-family: Times New Roman, Times, Serif">&nbsp;</FONT></TD>
    <TD STYLE="text-align: left"><FONT STYLE="font-family: Times New Roman, Times, Serif">$</FONT></TD><TD STYLE="text-align: right"><FONT STYLE="font-family: Times New Roman, Times, Serif">2.01</FONT></TD><TD STYLE="text-align: left"><FONT STYLE="font-family: Times New Roman, Times, Serif">&nbsp;</FONT></TD><TD><FONT STYLE="font-family: Times New Roman, Times, Serif">&nbsp;</FONT></TD>
    <TD STYLE="text-align: left"><FONT STYLE="font-family: Times New Roman, Times, Serif">&nbsp;</FONT></TD><TD STYLE="text-align: right"><FONT STYLE="font-family: Times New Roman, Times, Serif">&nbsp;</FONT></TD><TD STYLE="text-align: left"><FONT STYLE="font-family: Times New Roman, Times, Serif">&nbsp;</FONT></TD></TR>
  <TR STYLE="vertical-align: bottom; background-color: White">
    <TD STYLE="text-indent: -9pt; padding-left: 9pt"><FONT STYLE="font-family: Times New Roman, Times, Serif">Pro forma as adjusted net
    tangible book value per share as of September 30, 2024 after the offering</FONT></TD><TD><FONT STYLE="font-family: Times New Roman, Times, Serif">&nbsp;</FONT></TD>
    <TD STYLE="text-align: left"><FONT STYLE="font-family: Times New Roman, Times, Serif">&nbsp;</FONT></TD><TD STYLE="text-align: right"><FONT STYLE="font-family: Times New Roman, Times, Serif">&nbsp;</FONT></TD><TD STYLE="text-align: left"><FONT STYLE="font-family: Times New Roman, Times, Serif">&nbsp;</FONT></TD><TD><FONT STYLE="font-family: Times New Roman, Times, Serif">&nbsp;</FONT></TD>
    <TD STYLE="text-align: left"><FONT STYLE="font-family: Times New Roman, Times, Serif">$</FONT></TD><TD STYLE="text-align: right"><FONT STYLE="font-family: Times New Roman, Times, Serif">4.55</FONT></TD><TD STYLE="text-align: left"><FONT STYLE="font-family: Times New Roman, Times, Serif">&nbsp;</FONT></TD></TR>
  <TR STYLE="vertical-align: bottom; background-color: rgb(204,238,255)">
    <TD STYLE="text-align: left; text-indent: -9pt; padding-left: 9pt"><FONT STYLE="font-family: Times New Roman, Times, Serif">Dilution
    per share to investors in this public offering</FONT></TD><TD><FONT STYLE="font-family: Times New Roman, Times, Serif">&nbsp;</FONT></TD>
    <TD STYLE="text-align: left"><FONT STYLE="font-family: Times New Roman, Times, Serif">&nbsp;</FONT></TD><TD STYLE="text-align: right"><FONT STYLE="font-family: Times New Roman, Times, Serif">&nbsp;</FONT></TD><TD STYLE="text-align: left"><FONT STYLE="font-family: Times New Roman, Times, Serif">&nbsp;</FONT></TD><TD><FONT STYLE="font-family: Times New Roman, Times, Serif">&nbsp;</FONT></TD>
    <TD STYLE="text-align: left"><FONT STYLE="font-family: Times New Roman, Times, Serif">$</FONT></TD><TD STYLE="text-align: right"><FONT STYLE="font-family: Times New Roman, Times, Serif">1.98</FONT></TD><TD STYLE="text-align: left"><FONT STYLE="font-family: Times New Roman, Times, Serif">&nbsp;</FONT></TD></TR>
  </TABLE>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">&nbsp;</FONT></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify"></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in"><FONT STYLE="font-family: Times New Roman, Times, Serif">The
dilution information discussed above is illustrative only and will change based on the actual public offering price and other terms of
this offering determined at pricing. A $1 increase or decrease in the assumed public offering price of $6.53&nbsp;per Unit, would increase
or decrease our pro forma as adjusted net tangible book value per share after this offering by $0.55 and increase or decrease dilution
per share to new investors purchasing Units in this offering by $0.45, assuming that the number of Units offered by us, as set forth
on the cover page of this prospectus, remains the same and after deducting the estimated underwriting discounts and commissions and estimated
offering expenses payable by us.</FONT></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">&nbsp;</FONT></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">To
the extent that outstanding options or warrants are exercised, you will experience further dilution. In addition, we may choose to raise
additional capital due to market conditions or strategic considerations even if we believe we have sufficient funds for our current or
future operating plans. To the extent that additional capital is raised through the sale of equity or convertible debt securities, the
issuance of these securities may result in further dilution to our stockholders.</FONT></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">&nbsp;</FONT></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">The
dilution information set forth in the table above is illustrative only and will be adjusted based on the actual public offering price
and other terms of this offering determined at pricing.</FONT></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">&nbsp;</FONT></P>


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<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: center"><FONT STYLE="font-family: Times New Roman, Times, Serif">&nbsp;</FONT></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt; text-align: center"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt; font-variant: small-caps"><B><A NAME="cy_010"></A>DESCRIPTION
OF SECURITIES</B></FONT></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: center"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">&nbsp;</FONT></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; text-indent: 0.5in; margin: 0pt 0; text-align: justify"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">The
following description of our securities is only a summary and is qualified in its entirety by reference to the actual terms and provisions
of the capital stock contained in our Certificate of Incorporation and our Bylaws.</FONT></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">&nbsp;</FONT></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt"><B>General</B></FONT></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">&nbsp;</FONT></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">Our
authorized capital stock consists of 200,000,000 shares of common stock, $0.00001 par value per share, and 10,000,000 shares of preferred
stock, $0.00001 par value per share.</FONT></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">&nbsp;</FONT></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">As
of the date of this prospectus, there were 2,431,784 shares of our common stock issued and outstanding held by approximately 64 holders
of record, and no shares of our preferred stock issued and outstanding.</FONT></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">&nbsp;</FONT></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt"><B>Common
Stock</B></FONT></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">&nbsp;</FONT></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">Our
certificate of incorporation, as amended and restated (&ldquo;Certificate of Incorporation&rdquo;) authorize us to issue up to 200,000,000
shares of common stock, $0.00001 par value. Each holder of our common stock is entitled to one (1) vote for each share held of record
on all voting matters we present for a vote of stockholders, including the election of directors. Holders of common stock have no cumulative
voting rights or preemptive rights to purchase or subscribe for any stock or other securities, and there are no conversion rights or
redemption or sinking fund provisions with respect to our common stock. All shares of our common stock are entitled to share equally
in dividends from sources legally available when, and if, declared by our Board of Directors.</FONT></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">&nbsp;</FONT></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">Our
Board of Directors is authorized to issue additional shares of common stock not to exceed the amount authorized by the Certificate of
Incorporation, on such terms and conditions and for such consideration as the Board may deem appropriate without further stockholder
action.</FONT></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">&nbsp;</FONT></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">In
the event of our liquidation or dissolution, all shares of our common stock are entitled to share equally in our assets available for
distribution to stockholders. However, the rights, preferences and privileges of the holders of our common stock are subject to, and
may be adversely affected by, the rights of the holders of shares of preferred stock that have been issued or shares of preferred stock
that our Board of Directors may decide to issue in the future.</FONT></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">&nbsp;</FONT></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt"><B>Warrants
and Pre-Funded Warrants Offered in this Offering</B></FONT></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">&nbsp;</FONT></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; text-indent: 0.5in; margin: 0pt 0; text-align: justify"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt"><I>The
following summary of certain terms and provisions of the Warrants and Pre-Funded Warrants offered hereby is not complete and is subject
to, and qualified in its entirety by the provisions of the forms of Warrant and Pre-Funded Warrant, which are filed as exhibits to the
registration statement of which this prospectus is a part. Prospective investors should carefully review the terms and provisions set
forth in the forms of Warrant and Pre-Funded Warrant.</I></FONT></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; text-indent: 0.5in; margin: 0pt 0; text-align: justify"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">&nbsp;</FONT></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; text-indent: 0.5in; margin: 0pt 0; text-align: justify"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt"><I>Exercisability</I>.
The Pre-Funded Warrants are exercisable at any time after their original issuance until they are exercised in full. The Series A Warrants
will be exercisable commencing upon the Warrant Stockholder Approval until five years after the date of Warrant Stockholder Approval,
and the Series B Warrants will be exercisable commencing upon the Warrant Stockholder Approval until two and one-half years after the
date of Warrant Stockholder Approval. Each of the Warrants and the Pre-Funded Warrants will be exercisable, at the option of each holder,
in whole or in part by delivering to us a duly executed exercise notice accompanied by payment in full in immediately available funds
for the number of shares of common stock subscribed for upon such exercise (except in the case of a cashless exercise as discussed below).</FONT></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">&nbsp;</FONT></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-right: 0; margin-bottom: 0pt; text-align: left"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt"><I>Cashless
Exercise and Alternative Cashless Exercise</I></FONT></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">&nbsp;</FONT></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; text-indent: 0.5in; margin: 0pt 0; text-align: justify"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">If
a registration statement registering the issuance of the shares of common stock underlying the Warrants or Pre-Funded Warrants under
the Securities Act is not effective or available, the holder may, in its sole discretion, elect to exercise the Warrants or Pre-Funded
Warrants through a cashless exercise, in which case the holder would receive upon such exercise the net number of shares of common stock
determined according to the formula set forth in the Warrants or Pre-Funded Warrants, as applicable.</FONT></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">&nbsp;</FONT></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify"></P>

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<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify"><FONT STYLE="font-family: Times New Roman, Times, Serif">&nbsp;</FONT></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; text-indent: 0.5in; margin: 0pt 0; text-align: justify"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">No
fractional shares of common stock will be issued in connection with the exercise of a Warrant or Pre-Funded Warrant. In lieu of fractional
shares, we will pay the holder an amount in cash equal to the fractional amount multiplied by the exercise price.</FONT></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; text-indent: 0.5in; margin: 0pt 0"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">&nbsp;</FONT></P>

<P STYLE="text-align: justify; font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 0.5in"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">Under
the alternate cashless exercise option, the holder of the Series B Warrant, has the right to receive an aggregate number of shares equal
to the product of (x) the aggregate number of shares of common stock that would be issuable upon a cashless exercise of the Series B
Warrant and (y) 3.0</FONT></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 0.5in"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">&nbsp;</FONT></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; text-indent: 0.5in; margin: 0pt 0; text-align: justify"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt"><I>Exercise
Limitation. </I>A holder will not have the right to exercise any portion of the Pre-Funded Warrants or Warrants if the holder (together
with its affiliates) would beneficially own in excess of 4.99% (or, upon election by a holder prior to the issuance of any warrants,
9.99%) of the number of shares of common stock outstanding immediately after giving effect to the exercise, as such percentage ownership
is determined in accordance with the terms of the Warrants and Pre-Funded Warrants. However, any holder may increase or decrease such
percentage to any other percentage not in excess of 9.99%, upon at least 61 days&rsquo; prior notice from the holder to us with respect
to any increase in such percentage.</FONT></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">&nbsp;</FONT></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; text-indent: 0.5in; margin: 0pt 0; text-align: justify"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt"><I>Exercise
Price</I>. The exercise price of each Pre-Funded Warrant included in each Pre-Funded Unit is $0.0001 per share.</FONT></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 1in"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">&nbsp;</FONT></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; text-indent: 0.5in; margin: 0pt 0; text-align: justify"></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 0.5in; text-align: justify"><FONT STYLE="font-family: Times New Roman, Times, Serif">The
Series A Warrants will be exercisable upon Warrant Stockholder Approval, have an exercise price of $8.16 per share of common stock (equal
to 125% of the public offering price per Unit, subject to certain anti-dilution and share combination event protections, as further set
forth below) and have a term of 5 years from the date of Warrant Stockholder Approval.</FONT></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in"><FONT STYLE="font-family: Times New Roman, Times, Serif">&nbsp;</FONT></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 0.5in; text-align: justify"><FONT STYLE="font-family: Times New Roman, Times, Serif">The
Series B Warrants will be exercisable commencing upon Warrant Stockholder Approval, will have an exercise price of $8.16 per share of
common stock (equal to 125% of the public offering price per Unit, subject to certain share combination event protections, as further
set forth below) per share of common stock and will have a term of two and one-half years from the date of Warrant Stockholder Approval.</FONT></P>
<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 0.5in; text-align: justify"></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; text-indent: 0.5in; margin: 0pt 0; text-align: justify"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">&nbsp;</FONT></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; text-indent: 0.5in; margin: 0pt 0; text-align: justify"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">Beginning
on the 11th trading day after the Warrant Stockholder Approval Date (the &ldquo;Reset Date&rdquo;), the exercise price of the Warrants
will reset to a price equal to the greater of (i) the Floor Price, as defined in the Warrants, in effect on the Reset Date, and (ii)
the lowest volume weighted average price (&ldquo;VWAP&rdquo;) during the period commencing on the first trading day immediately following
the Stockholder Approval Date and ending on the close of trading on the 10th trading day thereafter. In addition, following a reverse
stock split, the exercise price of the Warrants will be adjusted to equal the lowest single-day VWAP during the period from the trading
day immediately following, until the fifth trading day following the reverse stock split with a proportionate adjustment to the number
of shares underlying the Warrants.</FONT></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; text-indent: 0.5in; margin: 0pt 0; text-align: justify"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">&nbsp;</FONT></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; text-indent: 0.5in; margin: 0pt 0; text-align: justify"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt"><I>Adjustment
for Subsequent Issuances. </I>Subject to certain exceptions, if the Company sells any common stock (or securities convertible into or
exercisable into common stock) at a price per share (or conversion or exercise price, as applicable) less than the exercise price of
the Series A Warrants then in effect, then the exercise price of the Series A Warrants will be reduced to such lower price (subject to
a minimum exercise price of $&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; prior to
Stockholder Warrant Approval (50% of the Nasdaq Minimum Price as of the date of pricing of this offering and a minimum exercise price
of $ &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;after
Warrant Stockholder Approval (20% of the Nasdaq Minimum Price as of the date of pricing of this offering)).</FONT></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt"><I>&nbsp;</I></FONT></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; text-indent: 0.5in; margin: 0pt 0; text-align: justify"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt"><I>Share
Combination Event Adjustment</I>. If at any time on or after the date of issuance there occurs any share split, share dividend, share
combination recapitalization or other similar transaction involving our common stock and the lowest daily volume weighted average price
during the period commencing on the trading day immediately following the applicable date of share combination event and ending on the
fifth trading day immediately following such date is less than the exercise price of the Warrants then in effect, then the exercise price
of the Warrants will be reduced to the lowest daily volume weighted average price during such period (subject to a minimum exercise price
of $&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;
prior to Stockholder Warrant Approval (50% of the Nasdaq Minimum Price as of the date of pricing of this offering and a minimum exercise
price of $&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; after Warrant Stockholder
Approval (20% of the Nasdaq Minimum Price as of the date of pricing of this offering)) and the number of shares issuable upon exercise
will be proportionately adjusted such that the aggregate price will remain unchanged.</FONT></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">&nbsp;</FONT></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify"></P>

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<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify"><FONT STYLE="font-family: Times New Roman, Times, Serif">&nbsp;</FONT></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; text-indent: 0.5in; margin: 0pt 0; text-align: justify"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt"><I>Warrant
Stockholder Approval. </I>Under Nasdaq listing rules, the Warrants may not be exercised unless and until we obtain the approval of our
stockholders. While we intend to promptly seek stockholder approval, there is no guarantee that the Warrant Stockholder Approval will
ever be obtained. If we are unable to obtain the Warrant Stockholder Approval, the Warrants may not be exercised and will have substantially
less value. In addition, we will incur substantial cost, and management will devote substantial time and attention, in attempting to
obtain the Warrant Stockholder Approval.</FONT></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; text-indent: 0.5in; margin: 0pt 0; text-align: justify"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">&nbsp;</FONT></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; text-indent: 0.5in; margin: 0pt 0; text-align: justify"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt"><I>Transferability.
</I>Subject to applicable laws, the Warrants and the Pre-Funded Warrants may be offered for sale, sold, transferred or assigned without
our consent.</FONT></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; text-indent: 0.5in; margin: 0pt 0; text-align: justify"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">&nbsp;</FONT></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; text-indent: 0.5in; margin: 0pt 0; text-align: justify"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt"><I>Exchange
Listing.</I> We do not intend to apply for the listing of the Warrants or Pre-Funded Warrants offered in this offering on any stock exchange.
Without an active trading market, the liquidity of the Warrants and Pre-Funded Warrants will be limited.</FONT></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; text-indent: 0.5in; margin: 0pt 0"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">&nbsp;</FONT></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; text-indent: 0.5in; margin: 0pt 0; text-align: justify"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt"><I>Rights
as a Stockholder</I>. Except as otherwise provided in the Warrants or the Pre-Funded Warrants or by virtue of such holder&rsquo;s ownership
of our shares of common stock, the holder of a Warrant or Pre-Funded Warrant does not have the rights or privileges of a holder of our
shares of common stock, including any voting rights, until the holder exercises the Warrant or Pre-Funded Warrant.</FONT></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; text-indent: 0.5in; margin: 0pt 0; text-align: justify"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">&nbsp;</FONT></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; text-indent: 0.5in; margin: 0pt 0; text-align: justify"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt"><I>Fundamental
Transaction</I>. In the event of a fundamental transaction, as described in the Warrants and the Pre-Funded Warrants, and generally including,
with certain exceptions, any reorganization, recapitalization or reclassification of our shares of common stock, the sale, transfer or
other disposition of all or substantially all of our properties or assets, our consolidation or merger with or into another person, the
acquisition of more than 50% of our outstanding shares of common stock, or any person or group becoming the beneficial owner of 50% of
the voting power represented by our outstanding shares of common stock, the holders of the Warrants and the Pre-Funded Warrants will
be entitled to receive upon exercise thereof the kind and amount of securities, cash or other property that the holders would have received
had they exercised the warrants immediately prior to such fundamental transaction.</FONT></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; text-indent: 0.5in; margin: 0pt 0; text-align: justify"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">&nbsp;</FONT></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; text-indent: 0.5in; margin: 0pt 0; text-align: justify"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt"><I>Governing
Law.</I> The Pre-Funded Warrants and the Warrants are governed by New York law.</FONT></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; background-color: white"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">&nbsp;</FONT></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt"><B>Other
Securities of the Company Not Being Offered in this Offering</B></FONT></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">&nbsp;</FONT></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">The
following is a description of securities of the Company other than the common stock and Warrants being offered hereby.</FONT></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.25in; background-color: white"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">&nbsp;</FONT></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt"><B>Preferred
Stock</B></FONT></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">&nbsp;</FONT></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">Our
Certificate of Incorporation authorize us to issue up to 10,000,000 shares of preferred stock, $0.00001 par value. Our Board of Directors
is authorized, without further action by the stockholders, to issue shares of preferred stock and to fix the designations, number, rights,
preferences, privileges, and restrictions thereof, including dividend rights, conversion rights, voting rights, terms of redemption,
liquidation preferences and sinking fund terms. We believe that the Board of Directors&rsquo; power to set the terms of, and our ability
to issue preferred stock, will provide flexibility in connection with possible financing or acquisition transactions in the future. The
issuance of preferred stock, however, could adversely affect the voting power of holders of common stock and decrease the amount of any
liquidation distribution to such holders. The presence of outstanding preferred stock could also have the effect of delaying, deterring,
or preventing a change in control of our Company.</FONT></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt"><B>&nbsp;</B></FONT></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt"><B>Outstanding
Warrants</B></FONT></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">&nbsp;</FONT></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in"><FONT STYLE="font-family: Times New Roman, Times, Serif">As
of November 21, 2024, we had 65,271 outstanding warrants with a weighted average exercise price of $285.29 per share, with a weighted
average remaining life of 5 years.<FONT STYLE="font-size: 10pt">&nbsp;</FONT></FONT></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in"><FONT STYLE="font-family: Times New Roman, Times, Serif">&nbsp;</FONT></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt"><B>Outstanding
Options</B></FONT></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">&nbsp;</FONT></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in"><FONT STYLE="font-family: Times New Roman, Times, Serif">As
of November 21, 2024, we have 162,566 outstanding options with a weighted average exercise price of $96.90 per share, with a weighted
average remaining contractual life of 6.4 years.<FONT STYLE="font-size: 10pt">&nbsp;</FONT></FONT></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in"><FONT STYLE="font-family: Times New Roman, Times, Serif">&nbsp;</FONT></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify"></P>

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<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify"><FONT STYLE="font-family: Times New Roman, Times, Serif">&nbsp;</FONT></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt"><B>Restricted
Stock Units (RSU)</B></FONT></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">&nbsp;</FONT></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in"><FONT STYLE="font-family: Times New Roman, Times, Serif">As
of November 21, 2024, we have 2,400 outstanding RSUs.</FONT></P>
<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in"></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">&nbsp;</FONT></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt"><B>Anti-Takeover
Provisions</B></FONT></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt"><B>&nbsp;</B></FONT></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt"><B><I>Certificate
of Incorporation and Bylaw Provisions</I></B></FONT></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">&nbsp;</FONT></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">Our
amended and restated certificate of incorporation and our amended and restated bylaws will include a number of provisions that may have
the effect of deterring hostile takeovers or delaying or preventing changes in control of our management team, including the following:</FONT></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">&nbsp;</FONT></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt"><I>Classified
Board.</I> Our fifth amended and restated certificate of incorporation and amended and restated bylaws provide that our board of directors
will be classified into three classes of directors, each of which will hold office for a three-year term. In addition, directors may
only be removed from the board of directors for cause and only by the approval of two-thirds of the combined vote of our then outstanding
shares of common stock. A third party may be discouraged from making a tender offer or otherwise attempting to obtain control of us as
it is more difficult and time consuming for stockholders to replace a majority of the directors on a classified board of directors.</FONT></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">&nbsp;</FONT></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt"><I>Supermajority
Approvals.</I> Our amended and restated bylaws require the approval of two-thirds of the combined vote of our then-outstanding shares
of our common stock to amend our bylaws. This will have the effect of making it more difficult to amend our amended and restated bylaws
to remove or modify certain provisions.</FONT></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">&nbsp;</FONT></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt"><I>Advance
Notice Requirements for Stockholder Proposals and Director Nominations.</I> Our amended and restated bylaws provide advance notice procedures
for stockholders seeking to bring business before our annual meeting of stockholders, or to nominate candidates for election as directors
at any meeting of stockholders. Our amended and restated bylaws will also specify certain requirements regarding the form and content
of a stockholder&rsquo;s notice. These provisions may preclude our stockholders from bringing matters before our annual meeting of stockholders
or from making nominations for directors at our meetings of stockholders.</FONT></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">&nbsp;</FONT></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt"><I>Issuance
of Undesignated Preferred Stock.</I> Our board of directors has the authority, without further action by the holders of our common stock,
to issue up to 10,000,000 shares of undesignated preferred stock with rights and preferences, including voting rights, designated from
time to time by the board of directors. The existence of authorized but unissued shares of preferred stock will enable our board of directors
to render more difficult or discourage an attempt to obtain control of us by means of a merger, tender offer, proxy contest, or otherwise.</FONT></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">&nbsp;</FONT></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt"><I>Issuance
of Unissued Stock.</I> Our shares of unissued common stock are available for future issuance without stockholder approval, subject to
certain protections afforded to our preferred stock pursuant to our certificate of incorporation, as amended and restated. We may utilize
these additional shares for a variety of corporate purposes, including future public offerings to raise additional capital, to facilitate
corporate acquisitions, payment as a dividend on the capital stock or as equity compensation to our service providers under our equity
compensation plans. The existence of unissued and unreserved common stock may enable our board of directors to issue shares to persons
friendly to current management thereby protecting the continuity of our management. Also, if we issue additional shares of our authorized,
but unissued, common stock, these issuances will dilute the voting power and distribution rights of our existing common stockholders.</FONT></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">&nbsp;</FONT></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt"><B><I>Delaware
Law</I></B></FONT></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">&nbsp;</FONT></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">We
are governed by the provisions of Section 203 of the DGCL. In general, Section 203 prohibits a public Delaware corporation from engaging
in a &ldquo;business combination&rdquo; with an &ldquo;interested stockholder&rdquo; for a period of three years after the date of the
transaction in which the person became an interested stockholder, unless:</FONT></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">&nbsp;</FONT></P>

<TABLE CELLPADDING="0" CELLSPACING="0" STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt; width: 100%"><TR STYLE="vertical-align: top; text-align: justify">
<TD STYLE="width: 0.5in"></TD><TD STYLE="width: 0.25in; text-align: left"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">&#9679;</FONT></TD><TD STYLE="text-align: justify"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">the
                                            business combination or transaction which resulted in the stockholder becoming an interested
                                            stockholder was approved by the board of directors prior to the time that the stockholder
                                            became an interested stockholder;</FONT></TD>
</TR></TABLE>
<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">&nbsp;</FONT></P>

<TABLE CELLPADDING="0" CELLSPACING="0" STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt; width: 100%"><TR STYLE="vertical-align: top; text-align: justify">
<TD STYLE="width: 0.5in"></TD><TD STYLE="width: 0.25in; text-align: left"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">&#9679;</FONT></TD><TD STYLE="text-align: justify"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">upon
                                            consummation of the transaction which resulted in the stockholder becoming an interested
                                            stockholder, the interested stockholder owned at least 85% of the voting stock of the corporation
                                            outstanding at the time the transaction commenced, excluding shares owned by directors who
                                            are also officers of the corporation and shares owned by employee stock plans in which employee
                                            participants do not have the right to determine confidentially whether shares held subject
                                            to the plan will be tendered in a tender or exchange offer; or</FONT></TD>
</TR></TABLE>
<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">&nbsp;</FONT></P>

<TABLE CELLPADDING="0" CELLSPACING="0" STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt; width: 100%"><TR STYLE="vertical-align: top; text-align: justify">
<TD STYLE="width: 0.5in"></TD><TD STYLE="width: 0.25in; text-align: left"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">&#9679;</FONT></TD><TD STYLE="text-align: justify"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">at
                                            or subsequent to the time the stockholder became an interested stockholder, the business
                                            combination was approved by the board of directors and authorized at an annual or special
                                            meeting of the stockholders, and not by written consent, by the affirmative vote of at least
                                            two-thirds of the outstanding voting stock which is not owned by the interested stockholder.</FONT></TD>
</TR></TABLE>
<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">&nbsp;</FONT></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">In
general, Section 203 defines a &ldquo;business combination&rdquo; to include mergers, asset sales and other transactions resulting in
financial benefit to a stockholder and an &ldquo;interested stockholder&rdquo; as a person who, together with affiliates and associates,
owns, or within three years did own, 15% or more of the corporation&rsquo;s outstanding voting stock. These provisions may have the effect
of delaying, deferring or preventing changes in control of our company.</FONT></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">&nbsp;</FONT></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify"></P>

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<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">&nbsp;</FONT></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt"><B>Choice
of Forum</B></FONT></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">&nbsp;</FONT></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">Our
amended and restated certificate of incorporation provide that unless the Company consents in writing to the selection of an alternative
forum, the Court of Chancery of the State of Delaware will be the exclusive forum for any derivative action or proceeding brought on
our behalf; any action asserting a breach of fiduciary duty by any of our directors, officers or other employees to us or our stockholders;
any action asserting a claim against the Company, our directors or officer or employees directors arising pursuant to any provision of
the DGCL, our amended and restated certificate of incorporation or amended and restated bylaws or any other action asserting a claim
against us our directors or officers or employees that is governed by the internal affairs doctrine. This choice of forum provision does
not apply to actions brought to enforce a duty or liability created by the Exchange Act or any other claim for which federal courts have
exclusive jurisdiction.</FONT></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">&nbsp;</FONT></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">Furthermore,
unless we consent in writing to the selection of an alternative forum, the federal district courts of the United States shall be the
exclusive forum for the resolution of any complaint asserting a cause of action arising under the Securities Act. We intend for this
provision to apply to any complaints asserting a cause of action under the Securities Act despite the fact that Section 22 of the Securities
Act creates concurrent jurisdiction for the federal and state courts over all actions brought to enforce any duty or liability created
by the Securities Act or the rules and regulations promulgated thereunder. The enforceability of similar choice of forum provisions in
other companies&rsquo; certificates of incorporation has been challenged in legal proceedings, and it is possible that a court could
find these types of provisions in our certificate of incorporation to be inapplicable or unenforceable.</FONT></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">&nbsp;</FONT></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt"><B>Limitations
of Liability and Indemnification</B></FONT></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">&nbsp;</FONT></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">Our
Certificate of Incorporation limits the liability of directors to the maximum extent permitted by the DGCL. The DGCL provides that directors
of a corporation will not be personally liable for monetary damages for breach of their fiduciary duties as directors.</FONT></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">&nbsp;</FONT></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">Our
bylaws, as amended, provide that we will indemnify our directors and officers to the fullest extent permitted by law, and may indemnify
employees and other agents. Our bylaws also provide that we are obligated to advance expenses incurred by a director or officer in advance
of the final disposition of any action or proceeding.</FONT></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">&nbsp;</FONT></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">Our
bylaws, as amended, subject to the provisions of the DGCL, contain provisions which allow the corporation to indemnify any person against
liabilities and other expenses incurred as the result of defending or administering any pending or anticipated legal issue in connection
with service to us if it is determined that person acted in good faith and in a manner which he or she reasonably believed was in the
best interest of the corporation. Insofar as indemnification for liabilities arising under the Securities Act of 1933 as amended, or
the Securities Act, may be permitted to our directors, officers and controlling persons, we have been advised that in the opinion of
the Securities and Exchange Commission, such indemnification is against public policy as expressed in the Securities Act and is, therefore,
unenforceable.</FONT></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">&nbsp;</FONT></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">The
limitation of liability and indemnification provisions in our bylaws may discourage stockholders from bringing a lawsuit against directors
for breach of their fiduciary duties. They may also reduce the likelihood of derivative litigation against directors and officers, even
though an action, if successful, might provide a benefit to us and our stockholders. Our results of operations and financial condition
may be harmed to the extent we pay the costs of settlement and damage awards against directors and officers pursuant to these indemnification
provisions.</FONT></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">&nbsp;</FONT></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">At
present, there is no pending litigation or proceeding involving any of our directors or officers as to which indemnification is required
or permitted, and we are not aware of any threatened litigation or proceeding that may result in a claim for indemnification.</FONT></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">&nbsp;</FONT></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt"><B>Transfer
Agent and Registrar</B></FONT></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">&nbsp;</FONT></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">The
transfer agent and registrar for our common stock is Continental Stock Transfer &amp; Trust Company.</FONT></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">&nbsp;</FONT></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt"><B>Listing</B></FONT></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">&nbsp;</FONT></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">Our
common stock is listed on The Nasdaq Capital Market under the symbol &ldquo;CYN.&rdquo;</FONT></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">&nbsp;</FONT></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in"></P>

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<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">&nbsp;</FONT></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: center; background-color: white"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt; text-transform: uppercase"><B><A NAME="cy_011"></A>PLAN
OF DISTRIBUTION</B></FONT></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; background-color: white"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">&nbsp;</FONT></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">We
have engaged Aegis Capital Corp., to act as our sole placement agent to solicit offers to purchase the Units offered by this prospectus
on a best efforts basis. The placement agent is not purchasing or selling any such securities, nor is it required to arrange for the
purchase and sale of any specific number or dollar amount of such securities, other than to use its &ldquo;best efforts&rdquo; to arrange
for the sale of such securities by us. Therefore, we may not sell all, or any of the Units being offered. The terms of this offering
were subject to market conditions and negotiations between us, the placement agent and prospective investors. This is a best-efforts
offering and there is no minimum number of securities or minimum aggregate amount of proceeds that is a condition to the closing of this
offering. The placement agent may retain sub-agents and selected dealers in connection with this offering. We will have one closing for
all the securities purchased in this offering. The public offering price per Unit will be fixed for the duration of this offering.</FONT></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">&nbsp;</FONT></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">Delivery
of the securities offered hereby is expected to occur on or about&nbsp;December&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; , 2024 subject
to satisfaction of certain customary closing conditions.</FONT></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">&nbsp;</FONT></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">We
have agreed to pay the placement agent a fee equal to 7% (including the 1% non-accountable expense allowance) of the gross proceeds received
in the offering. In addition, we have agreed to reimburse the placement agent for its legal fees, and disbursements and expenses in connection
with this offering in an amount of $100,000.</FONT></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">&nbsp;</FONT></P>

<TABLE CELLPADDING="0" CELLSPACING="0" STYLE="border-collapse: collapse; width: 100%; font: 10pt Times New Roman, Times, Serif">
  <TR STYLE="vertical-align: bottom">
    <TD STYLE="text-align: center"><FONT STYLE="font-family: Times New Roman, Times, Serif">&nbsp;</FONT></TD><TD STYLE="text-align: center; font-weight: bold; padding-bottom: 1.5pt"><FONT STYLE="font-family: Times New Roman, Times, Serif">&nbsp;</FONT></TD>
    <TD COLSPAN="2" STYLE="text-align: center; font-weight: bold; border-bottom: Black 1.5pt solid"><FONT STYLE="font-family: Times New Roman, Times, Serif">Per
    Unit</FONT></TD><TD STYLE="text-align: center; padding-bottom: 1.5pt; font-weight: bold"><FONT STYLE="font-family: Times New Roman, Times, Serif">&nbsp;</FONT></TD><TD STYLE="text-align: center; font-weight: bold; padding-bottom: 1.5pt"><FONT STYLE="font-family: Times New Roman, Times, Serif">&nbsp;</FONT></TD>
    <TD COLSPAN="2" STYLE="text-align: center; font-weight: bold; border-bottom: Black 1.5pt solid"><FONT STYLE="font-family: Times New Roman, Times, Serif">Per
    <BR>
    Pre-Funded <BR>
    Unit</FONT></TD><TD STYLE="text-align: center; padding-bottom: 1.5pt; font-weight: bold"><FONT STYLE="font-family: Times New Roman, Times, Serif">&nbsp;</FONT></TD><TD STYLE="text-align: center; font-weight: bold; padding-bottom: 1.5pt"><FONT STYLE="font-family: Times New Roman, Times, Serif">&nbsp;</FONT></TD>
    <TD COLSPAN="2" STYLE="text-align: center; font-weight: bold; border-bottom: Black 1.5pt solid"><FONT STYLE="font-family: Times New Roman, Times, Serif">Total</FONT></TD><TD STYLE="text-align: center; padding-bottom: 1.5pt; font-weight: bold"><FONT STYLE="font-family: Times New Roman, Times, Serif">&nbsp;</FONT></TD></TR>
  <TR STYLE="vertical-align: bottom; background-color: rgb(204,238,255)">
    <TD STYLE="width: 64%"><FONT STYLE="font-family: Times New Roman, Times, Serif">Public offering price</FONT></TD><TD STYLE="width: 1%"><FONT STYLE="font-family: Times New Roman, Times, Serif">&nbsp;</FONT></TD>
    <TD STYLE="width: 1%; text-align: left"><FONT STYLE="font-family: Times New Roman, Times, Serif">$</FONT></TD><TD STYLE="width: 9%; text-align: right"><FONT STYLE="font-family: Times New Roman, Times, Serif">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;</FONT></TD><TD STYLE="width: 1%; text-align: left"><FONT STYLE="font-family: Times New Roman, Times, Serif">&nbsp;</FONT></TD><TD STYLE="width: 1%"><FONT STYLE="font-family: Times New Roman, Times, Serif">&nbsp;</FONT></TD>
    <TD STYLE="width: 1%; text-align: left"><FONT STYLE="font-family: Times New Roman, Times, Serif">$</FONT></TD><TD STYLE="width: 9%; text-align: right"><FONT STYLE="font-family: Times New Roman, Times, Serif">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;</FONT></TD><TD STYLE="width: 1%; text-align: left"><FONT STYLE="font-family: Times New Roman, Times, Serif">&nbsp;</FONT></TD><TD STYLE="width: 1%"><FONT STYLE="font-family: Times New Roman, Times, Serif">&nbsp;</FONT></TD>
    <TD STYLE="width: 1%; text-align: left"><FONT STYLE="font-family: Times New Roman, Times, Serif">$</FONT></TD><TD STYLE="width: 9%; text-align: right"><FONT STYLE="font-family: Times New Roman, Times, Serif">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;</FONT></TD><TD STYLE="width: 1%; text-align: left"><FONT STYLE="font-family: Times New Roman, Times, Serif">&nbsp;</FONT></TD></TR>
  <TR STYLE="vertical-align: bottom; background-color: White">
    <TD STYLE="text-align: left"><FONT STYLE="font-family: Times New Roman, Times, Serif">Placement agent fees<SUP>(1)</SUP></FONT></TD><TD><FONT STYLE="font-family: Times New Roman, Times, Serif">&nbsp;</FONT></TD>
    <TD STYLE="text-align: left"><FONT STYLE="font-family: Times New Roman, Times, Serif">$</FONT></TD><TD STYLE="text-align: right"><FONT STYLE="font-family: Times New Roman, Times, Serif">&nbsp;</FONT></TD><TD STYLE="text-align: left"><FONT STYLE="font-family: Times New Roman, Times, Serif">&nbsp;</FONT></TD><TD><FONT STYLE="font-family: Times New Roman, Times, Serif">&nbsp;</FONT></TD>
    <TD STYLE="text-align: left"><FONT STYLE="font-family: Times New Roman, Times, Serif">$</FONT></TD><TD STYLE="text-align: right"><FONT STYLE="font-family: Times New Roman, Times, Serif">&nbsp;</FONT></TD><TD STYLE="text-align: left"><FONT STYLE="font-family: Times New Roman, Times, Serif">&nbsp;</FONT></TD><TD><FONT STYLE="font-family: Times New Roman, Times, Serif">&nbsp;</FONT></TD>
    <TD STYLE="text-align: left"><FONT STYLE="font-family: Times New Roman, Times, Serif">$</FONT></TD><TD STYLE="text-align: right"><FONT STYLE="font-family: Times New Roman, Times, Serif">&nbsp;</FONT></TD><TD STYLE="text-align: left"><FONT STYLE="font-family: Times New Roman, Times, Serif">&nbsp;</FONT></TD></TR>
  <TR STYLE="vertical-align: bottom; background-color: rgb(204,238,255)">
    <TD STYLE="text-align: left"><FONT STYLE="font-family: Times New Roman, Times, Serif">Non-accountable expense allowance (1%)</FONT></TD><TD><FONT STYLE="font-family: Times New Roman, Times, Serif">&nbsp;</FONT></TD>
    <TD STYLE="text-align: left"><FONT STYLE="font-family: Times New Roman, Times, Serif">$</FONT></TD><TD STYLE="text-align: right"><FONT STYLE="font-family: Times New Roman, Times, Serif">&nbsp;</FONT></TD><TD STYLE="text-align: left"><FONT STYLE="font-family: Times New Roman, Times, Serif">&nbsp;</FONT></TD><TD><FONT STYLE="font-family: Times New Roman, Times, Serif">&nbsp;</FONT></TD>
    <TD STYLE="text-align: left"><FONT STYLE="font-family: Times New Roman, Times, Serif">$</FONT></TD><TD STYLE="text-align: right"><FONT STYLE="font-family: Times New Roman, Times, Serif">&nbsp;</FONT></TD><TD STYLE="text-align: left"><FONT STYLE="font-family: Times New Roman, Times, Serif">&nbsp;</FONT></TD><TD><FONT STYLE="font-family: Times New Roman, Times, Serif">&nbsp;</FONT></TD>
    <TD STYLE="text-align: left"><FONT STYLE="font-family: Times New Roman, Times, Serif">$</FONT></TD><TD STYLE="text-align: right"><FONT STYLE="font-family: Times New Roman, Times, Serif">&nbsp;</FONT></TD><TD STYLE="text-align: left"><FONT STYLE="font-family: Times New Roman, Times, Serif">&nbsp;</FONT></TD></TR>
  <TR STYLE="vertical-align: bottom; background-color: White">
    <TD STYLE="text-align: left"><FONT STYLE="font-family: Times New Roman, Times, Serif">Proceeds, before expenses, to us<SUP>(2)</SUP></FONT></TD><TD><FONT STYLE="font-family: Times New Roman, Times, Serif">&nbsp;</FONT></TD>
    <TD STYLE="text-align: left"><FONT STYLE="font-family: Times New Roman, Times, Serif">$</FONT></TD><TD STYLE="text-align: right"><FONT STYLE="font-family: Times New Roman, Times, Serif">&nbsp;</FONT></TD><TD STYLE="text-align: left"><FONT STYLE="font-family: Times New Roman, Times, Serif">&nbsp;</FONT></TD><TD><FONT STYLE="font-family: Times New Roman, Times, Serif">&nbsp;</FONT></TD>
    <TD STYLE="text-align: left"><FONT STYLE="font-family: Times New Roman, Times, Serif">$</FONT></TD><TD STYLE="text-align: right"><FONT STYLE="font-family: Times New Roman, Times, Serif">&nbsp;</FONT></TD><TD STYLE="text-align: left"><FONT STYLE="font-family: Times New Roman, Times, Serif">&nbsp;</FONT></TD><TD><FONT STYLE="font-family: Times New Roman, Times, Serif">&nbsp;</FONT></TD>
    <TD STYLE="text-align: left"><FONT STYLE="font-family: Times New Roman, Times, Serif">$</FONT></TD><TD STYLE="text-align: right"><FONT STYLE="font-family: Times New Roman, Times, Serif">&nbsp;</FONT></TD><TD STYLE="text-align: left"><FONT STYLE="font-family: Times New Roman, Times, Serif">&nbsp;</FONT></TD></TR>
  </TABLE>
<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">&nbsp;</FONT></P>

<TABLE CELLSPACING="0" CELLPADDING="0" STYLE="font: 10pt Times New Roman, Times, Serif; width: 100%; border-collapse: collapse">
  <TR STYLE="vertical-align: top">
    <TD STYLE="width: 0.25in"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt"><SUP>(1)</SUP></FONT></TD>
    <TD STYLE="text-align: justify"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">Represents the placement
    agent fee of 7%. Does not include reimbursement by us of the placement agent&rsquo;s legal fees and disbursements of its counsel
    of $100,000.</FONT></TD></TR>
  <TR STYLE="vertical-align: top">
    <TD><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt"><SUP>(2)</SUP></FONT></TD>
    <TD STYLE="text-align: justify"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">The amount of offering
    proceeds to us presented in this table does not give effect to any exercise of the Warrants or the Pre-Funded Warrants.</FONT></TD></TR>
  </TABLE>
<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; background-color: white"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">&nbsp;</FONT></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; background-color: white"></P>

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<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; background-color: white"><FONT STYLE="font-family: Times New Roman, Times, Serif">&nbsp;</FONT></P>


<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in">We have agreed to pay the
placement agent&rsquo;s legal expenses relating to the offering in the amount of $100,000. We estimate the total expenses payable by us
for this offering, excluding the placement agent fees and expenses, will be approximately $297,462.</P>
<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">&nbsp;</FONT></P>




<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in">Assuming we raise the maximum
amount offered of $20,000,000 in proceeds from this offering, we anticipate payment to the placement agent of not more than $1,600,000,
consisting of $ 1,400,000 for the placement agent fee, $200,000 representing the non-accountable allowance, and up to $397,462 for the
reimbursement of accountable fees, costs and expenses of the placement which are payable by us.</P>
<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in"><P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in"><P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">&nbsp;</FONT></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt"><B>Regulation
M</B></FONT></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt"><B>&nbsp;</B></FONT></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">The
placement agent may be deemed to be an underwriter within the meaning of Section 2(a)(11) of the Securities Act, and any commissions
received by it and any profit realized on the resale of the shares sold by it while acting as principal might be deemed to be underwriting
discounts or commissions under the Securities Act. As an underwriter, the placement Agent would be required to comply with the requirements
of the Securities Act and the Exchange Act, including, without limitation, Rule 415(a)(4) under the Securities Act and Rule 10b-5 and
Regulation M under the Exchange Act. These rules and regulations may limit the timing of purchases and sales of shares by the placement
agent acting as principal. Under these rules and regulations, the placement agent:</FONT></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">&nbsp;</FONT></P>

<TABLE CELLPADDING="0" CELLSPACING="0" STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt; width: 100%"><TR STYLE="vertical-align: top">
<TD STYLE="width: 0.5in"></TD><TD STYLE="width: 0.25in"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">&#9679;</FONT></TD><TD STYLE="text-align: justify"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">may
                                            not engage in any stabilization activity in connection with our securities&#894; and</FONT></TD></TR></TABLE>

<P STYLE="text-align: justify; margin-top: 0; margin-bottom: 0"><FONT STYLE="font-family: Times New Roman, Times, Serif">&nbsp;</FONT></P>

<TABLE CELLPADDING="0" CELLSPACING="0" STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt; width: 100%"><TR STYLE="vertical-align: top">
<TD STYLE="text-align: justify; width: 0.5in"></TD><TD STYLE="text-align: justify; width: 0.25in"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">&#9679;</FONT></TD><TD STYLE="text-align: justify"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">may
                                            not bid for or purchase any of our securities or attempt to induce any person to purchase
                                            any of our securities, other than as permitted under the Exchange Act, until it has completed
                                            its participation in the distribution.</FONT></TD></TR></TABLE>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">&nbsp;</FONT></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt"><B>Listing</B></FONT></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">&nbsp;</FONT></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">Our
common stock is listed on The Nasdaq Capital Market under the trading symbol &ldquo;CYN.&rdquo; We do not plan to list the Pre-funded
Warrants or the Warrants on the Nasdaq Capital Market or any other securities exchange or trading market.</FONT></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">&nbsp;</FONT></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt"><B>Lock-Up
and Market Standoff Agreements</B></FONT></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt"><B>&nbsp;</B></FONT></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">Pursuant
to certain &ldquo;lock-up&rdquo; agreements, we, our executive officers, directors, and our 10% and greater stockholders have agreed
not to, for a period of 60 days after the Warrant Stockholder Approval Date, without the prior written consent of the placement agent,
directly or indirectly, offer to sell, sell, pledge or otherwise transfer or dispose of any of shares of (or enter into any transaction
or device that is designed to, or could be expected to, result in the transfer or disposition by any person at any time in the future
of) our common stock or any securities convertible into or exercisable or exchangeable for our common stock, enter into any swap or other
derivatives transaction that transfers to another, in whole or in part, any of the economic benefits or risks of ownership of shares
of our common stock, make any demand for or exercise any right or cause to be filed a registration statement, including any amendments
thereto, with respect to the registration of any shares of common stock or securities convertible into or exercisable or exchangeable
for shares of common stock or any other of our securities or publicly disclose the intention to do any of the foregoing, subject to customary
exceptions.</FONT></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">&nbsp;</FONT></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt"><B>Right
of First Refusal</B>&nbsp;</FONT></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">&nbsp;</FONT></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">We
granted the placement agent a right of first refusal to provide investment banking services to us on an exclusive basis in all matters
for which investment banking services are sought by us for a period commencing on the closing of this offering and ending on the 24-month
anniversary thereof.</FONT></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">&nbsp;</FONT></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify"></P>

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<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify"><FONT STYLE="font-family: Times New Roman, Times, Serif">&nbsp;</FONT></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">Specifically,
for a period of 24 months from the closing of this offering, if the Company or its subsidiaries (a) decides to finance or refinance any
indebtedness, Aegis (or any affiliate designated by the placement agent) shall have the right to act as sole book-runner, sole manager,
sole placement agent or sole agent with respect to such financing or refinancing; or (b) decides to raise funds by means of a public
offering (including at-the-market facility) or a private placement or any other capital raising financing of equity, equity-linked or
debt securities, the placement agent (or any affiliate designated by Aegis) shall have the right to act as sole book-running manager,
sole underwriter or sole placement agent for such financing. If Aegis or one of its affiliates decides to accept any such engagement,
the agreement governing such engagement will contain, among other things, provisions for customary fees for transactions of similar size
and nature. The decision to accept the Company&rsquo;s engagement shall be made by placement agent or one of its affiliates, by a written
notice to the Company, within ten (10) days of the receipt of the Company&rsquo;s notification of its financing needs, including a detailed
term sheet.</FONT></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt"><B>&nbsp;</B></FONT></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt"><B>Other
Relationships</B></FONT></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">&nbsp;</FONT></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">The
placement agent and its respective affiliates may in the future engage in investment banking and other commercial dealings in the ordinary
course of business with us or our affiliates. The placement agent may in the future receive customary fees and commissions for these
transactions.</FONT></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">&nbsp;</FONT></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">In
the ordinary course of its various business activities, the placement agent and its affiliates may make or hold a broad array of investments
and actively trade debt and equity securities (or related derivative securities) and financial instruments (including bank loans) for
their own account and for the accounts of its customers, and such investment and securities activities may involve securities and/or
instruments of the issuer. The placement agent and its affiliates may also make investment recommendations and/or publish or express
independent research views in respect of such securities or instruments and may at any time hold, or recommend to clients that they acquire,
long and/or short positions in such securities and instruments.</FONT></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">&nbsp;</FONT></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt"><B>Discretionary
Accounts</B></FONT></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">&nbsp;</FONT></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">The
placement agent does not intend to confirm sales of the securities offered hereby to any accounts over which it has discretionary authority.</FONT></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">&nbsp;</FONT></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt"><B>Indemnification</B></FONT></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">&nbsp;</FONT></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">We
have agreed to indemnify the placement agent against certain liabilities, including certain liabilities arising under the Securities
Act, or to contribute to payments that the placement agent may be required to make for these liabilities.</FONT></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">&nbsp;</FONT></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt"><B>Determination
of Offering Price</B></FONT></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">&nbsp;</FONT></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">The
public offering price of the securities we are offering was negotiated between us and the investors, in consultation with the placement
agent based on the trading of our Common Stock prior to the offering, among other things. Other factors considered in determining the
public offering price of the securities we are offering include our history and prospects, the stage of development of our business,
our business plans for the future and the extent to which they have been implemented, an assessment of our management, general conditions
of the securities markets at the time of the offering and such other factors as were deemed relevant.</FONT></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">&nbsp;</FONT></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt"><B>Electronic
Offer, Sale and Distribution</B></FONT></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">&nbsp;</FONT></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">This
prospectus in electronic format may be made available on websites or through other online services maintained by the placement agent,
or by its affiliates. Other than this prospectus in electronic format, the information on the placement agent&rsquo;s website and any
information contained in any other website maintained by the placement agent is not part of this prospectus or the registration statement
of which this prospectus forms a part, has not been approved and/or endorsed by us or the placement agent in its capacity as a placement
agent, and should not be relied upon by investors.</FONT></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">&nbsp;</FONT></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt"><B>Offer
Restrictions Outside the United States</B></FONT></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">&nbsp;</FONT></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; text-indent: 0.5in; margin: 0pt 0; text-align: justify"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">Other
than in the United States, no action has been taken by us or the placement agent that would permit a public offering of the securities
offered by this prospectus in any jurisdiction where action for that purpose is required. The securities offered by this prospectus may
not be offered or sold, directly or indirectly, nor may this prospectus or any other offering material or advertisements in connection
with the offer and sale of any such securities be distributed or published in any jurisdiction, except under circumstances that will
result in compliance with the applicable rules and regulations of that jurisdiction. Persons who come into possession of this prospectus
are advised to inform themselves about and to observe any restrictions relating to the offering and the distribution of this prospectus.
This prospectus does not constitute an offer to sell or a solicitation of an offer to buy any securities offered by this prospectus in
any jurisdiction in which such an offer or a solicitation is unlawful</FONT></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">&nbsp;</FONT></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt"><B>Transfer
Agent and Registrar</B></FONT></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">&nbsp;</FONT></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">The
transfer agent and registrar for our Common Stock is Continental Stock Transfer &amp; Trust Company.</FONT></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">&nbsp;</FONT></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify"></P>

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<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">&nbsp;</FONT></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: center"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt; font-variant: small-caps"><B><A NAME="cy_012"></A>EXPERTS</B></FONT></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">&nbsp;</FONT></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">The
consolidated balance sheets of the Company as of December 31, 2023 and 2022, the related consolidated statements of operations, stockholders&rsquo;
equity and cash flows for each of the two years in the period ended December 31, 2023 and the related notes, have been audited by Marcum
LLP, the independent registered public accounting firm of the Company, as stated in their report, which includes an explanatory paragraph
as to the Company&rsquo;s ability to continue as a going concern, which is incorporated herein by reference. Such financial statements
have been incorporated herein by reference in reliance on the report of such firm given upon their authority as experts in accounting
and auditing.</FONT></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">&nbsp;</FONT></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt; text-align: center"><FONT STYLE="font-family: Times New Roman, Times, Serif"><A NAME="cy_013"></A><FONT STYLE="font-size: 10pt; font-variant: small-caps"><B>LEGAL
MATTERS</B></FONT></FONT></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: center"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">&nbsp;</FONT></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">Certain
legal matters with respect to the validity of the securities being offered by this prospectus will be passed upon by Sichenzia Ross Ference
Carmel LLP, New York, New York. <FONT STYLE="background-color: white">The placement agent is being represented by Kaufman &amp; Canoles,
P.C., Richmond, VA, in connection with this offering.</FONT></FONT></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: center"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">&nbsp;</FONT></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt; text-align: center"><FONT STYLE="font-family: Times New Roman, Times, Serif"><A NAME="cy_014"></A><FONT STYLE="font-size: 10pt"><B>INFORMATION
INCORPORATED BY REFERENCE</B></FONT></FONT></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt; text-align: center"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">&nbsp;</FONT></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">The
SEC allows us to &ldquo;incorporate by reference&rdquo; information that we file with them. Incorporation by reference allows us to disclose
important information to you by referring you to those other documents. The information incorporated by reference is an important part
of this prospectus, and information that we file later with the SEC will automatically update and supersede this information. We filed
a registration statement on Form S-1 under the Securities Act with the SEC with respect to the securities being offered pursuant to this
prospectus. This prospectus omits certain information contained in the registration statement, as permitted by the SEC. You should refer
to the registration statement, including the exhibits and schedules attached to the registration statement and the information incorporated
by reference, for further information about us and the securities being offered pursuant to this prospectus. Statements in this prospectus
regarding the provisions of certain documents filed with, or incorporated by reference in, the registration statement are not necessarily
complete, and each statement is qualified in all respects by that reference. Copies of all or any part of the registration statement,
including the documents incorporated by reference or the exhibits, may be obtained upon payment of the prescribed rates at the offices
of the SEC listed below in &ldquo;Where You Can Find More Information.&rdquo; The documents we are incorporating by reference into this
prospectus are:</FONT></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: center"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt; text-transform: uppercase"><B>&nbsp;</B></FONT></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">This
prospectus and any accompanying prospectus supplement incorporate by reference the documents set forth below that have previously been
filed with the SEC:</FONT></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">&nbsp;</FONT></P>

<TABLE CELLPADDING="0" CELLSPACING="0" STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt; width: 100%"><TR STYLE="vertical-align: top; text-align: justify">
<TD STYLE="text-align: justify; width: 0.5in"></TD><TD STYLE="width: 0.25in; text-align: justify"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt; text-decoration: none">&#9679;</FONT></TD><TD STYLE="text-align: justify"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt; text-decoration: none">Our
                                            Annual Report on <A HREF="http://www.sec.gov/Archives/edgar/data/1874097/000121390024020777/f10k2023_cyngninc.htm">Form
                                            10-K</A> for the fiscal year ended December 31, 2023, filed with the SEC on March 7, 2024.</FONT></TD>
</TR></TABLE>
<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">&nbsp;</FONT></P>

<TABLE CELLPADDING="0" CELLSPACING="0" STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt; width: 100%"><TR STYLE="vertical-align: top; text-align: justify">
<TD STYLE="text-align: justify; width: 0.5in"></TD><TD STYLE="width: 0.25in; text-align: justify"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt; text-decoration: none">&#9679;</FONT></TD><TD STYLE="text-align: justify"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt; text-decoration: none">Our
                                            Quarterly Report on <A HREF="http://www.sec.gov/Archives/edgar/data/1874097/000121390024041350/ea0204007-10q_cyngn.htm">Form
                                            10-Q</A> for the quarter ended March 31, 2024, filed with the SEC on May 9, 2024.</FONT></TD>
</TR></TABLE>
<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">&nbsp;</FONT></P>

<TABLE CELLPADDING="0" CELLSPACING="0" STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt; width: 100%"><TR STYLE="vertical-align: top; text-align: justify">
<TD STYLE="text-align: justify; width: 0.5in"></TD><TD STYLE="width: 0.25in; text-align: justify"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt; text-decoration: none">&#9679;</FONT></TD><TD STYLE="text-align: justify"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt; text-decoration: none">Our
                                            Quarterly Report on <A HREF="http://www.sec.gov/Archives/edgar/data/1874097/000121390024066682/ea0209932-10q_cyngn.htm">Form
                                            10-Q</A> for the quarter ended June 30, 2024, filed with the SEC on August 8, 2024.</FONT></TD>
</TR></TABLE>
<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">&nbsp;</FONT></P>

<TABLE CELLPADDING="0" CELLSPACING="0" STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt; width: 100%"><TR STYLE="vertical-align: top; text-align: justify">
<TD STYLE="text-align: justify; width: 0.5in"></TD><TD STYLE="width: 0.25in; text-align: justify"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt; text-decoration: none">&#9679;</FONT></TD><TD STYLE="text-align: justify"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt; text-decoration: none">Our
                                            Quarterly Report on <A HREF="http://www.sec.gov/Archives/edgar/data/1874097/000121390024095459/ea0217979-10q_cyngn.htm">Form
                                            10-Q</A> for the quarter ended September 30, 2024, filed with the SEC on November 7, 2024.</FONT></TD>
</TR></TABLE>
<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">&nbsp;</FONT></P>

<TABLE CELLPADDING="0" CELLSPACING="0" STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt; width: 100%"><TR STYLE="vertical-align: top; text-align: justify">
<TD STYLE="text-align: justify; width: 0.5in"></TD><TD STYLE="width: 0.25in; text-align: justify"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt; text-decoration: none">&#9679;</FONT></TD><TD STYLE="text-align: justify"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt; text-decoration: none">Our
                                            Current Reports on Form 8-K filed on <A HREF="http://www.sec.gov/Archives/edgar/data/1874097/000121390024015778/ea0200420-8k_cyngninc.htm">February
                                            21, 2024</A>, <A HREF="http://www.sec.gov/Archives/edgar/data/1874097/000121390024035867/ea0204584-8k_cyngninc.htm">April
                                            24, 2024</A>, <A HREF="http://www.sec.gov/Archives/edgar/data/1874097/000121390024041809/ea020573401-8k_cyngninc.htm">May
                                            10, 2024</A>, <A HREF="http://www.sec.gov/Archives/edgar/data/1874097/000121390024044811/ea0206386-8k_cyngn.htm">May
                                            17, 2024</A>, <A HREF="http://www.sec.gov/Archives/edgar/data/1874097/000121390024055825/ea0208485-8k_cyngn.htm">June
                                            25, 2024</A>, <A HREF="http://www.sec.gov/Archives/edgar/data/1874097/000121390024060172/ea0209163-8k_cyngn.htm">July
                                            9, 2024</A>, and <A HREF="http://www.sec.gov/Archives/edgar/data/1874097/000121390024096917/ea0220845-8k_cyngn.htm">November
                                            12, 2024</A></FONT></TD>
</TR></TABLE>
<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">&nbsp;</FONT></P>

<TABLE CELLPADDING="0" CELLSPACING="0" STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt; width: 100%"><TR STYLE="vertical-align: top; text-align: justify">
<TD STYLE="text-align: justify; width: 0.5in"></TD><TD STYLE="width: 0.25in; text-align: justify"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt; text-decoration: none">&#9679;</FONT></TD><TD STYLE="text-align: justify"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt; text-decoration: none">The
                                            description of our common stock contained in our Registration Statement on <A HREF="http://www.sec.gov/Archives/edgar/data/1874097/000121390021053415/ea149008-8a12b_cyngn.htm">Form
                                            8-A</A>, registering our common stock under Section 12(b) under the Exchange Act, filed with
                                            the SEC on October 19, 2021.</FONT></TD>
</TR></TABLE>
<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">&nbsp;</FONT></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">We
also incorporate by reference all documents we file pursuant to Section 13(a), 13(c), 14 or 15 of the Exchange Act (other than any portions
of filings that are furnished rather than filed pursuant to Items 2.02 and 7.01 of a Current Report on Form 8-K) after the date of the
initial registration statement of which this prospectus is a part and prior to effectiveness of such registration statement. All documents
we file in the future pursuant to Section 13(a), 13(c), 14 or 15(d) of the Exchange Act after the date of this prospectus and prior to
the termination of the offering are also incorporated by reference and are an important part of this prospectus.</FONT></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">&nbsp;</FONT></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">Any
statement contained in a document incorporated or deemed to be incorporated by reference herein shall be deemed to be modified or superseded
for the purposes of this registration statement to the extent that a statement contained herein or in any other subsequently filed document
which also is or deemed to be incorporated by reference herein modifies or supersedes such statement. Any statement so modified or superseded
shall not be deemed, except as so modified or superseded, to constitute a part of this registration statement.</FONT></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">&nbsp;</FONT></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">You
may request a copy of these filings, at no cost, by writing or telephoning us at the following address: Cyngn&nbsp;Inc., Attention: Corporate
Secretary, 1015 O&rsquo;Brien Dr., Menlo Park, CA 94025, phone number (650) 924-5905.</FONT></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt; text-transform: uppercase"><B>&nbsp;</B></FONT></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in"></P>

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<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt; text-transform: uppercase"><B>&nbsp;</B></FONT></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: center"><FONT STYLE="font-family: Times New Roman, Times, Serif"><A NAME="cy_015"></A><FONT STYLE="font-size: 10pt; text-transform: uppercase"><B>WHERE
YOU CAN FIND MORE INFORMATION</B></FONT></FONT></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: center"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">&nbsp;</FONT></P>

<P STYLE="text-align: justify; font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 0.5in"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">We
have filed with the SEC a registration statement on Form S-1 under the Securities Act with respect to the securities offered hereby.
This prospectus, which constitutes a part of the registration statement, does not contain all of the information set forth in the registration
statement or the exhibits and schedules filed therewith. For further information about us and our securities offered hereby, we refer
you to the registration statement and the exhibits and schedules filed therewith. Statements contained in this prospectus regarding the
contents of any contract or any other document that is filed as an exhibit to the registration statement are not necessarily complete,
and each such statement is qualified in all respects by reference to the full text of such contract or other document filed as an exhibit
to the registration statement. The SEC maintains a website that contains reports, proxy and information statements and other information
regarding registrants that file electronically with the SEC. The address is http://www.sec.gov.</FONT></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">&nbsp;</FONT></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">We
are subject to the reporting requirements of the Exchange Act, and file annual, quarterly and current reports, proxy statements and other
information with the SEC. You can read our SEC filings, including the registration statement, over the Internet at the SEC&rsquo;s website<I>.&nbsp;</I>We
also maintain a website at&nbsp;<FONT STYLE="text-decoration: none"><I>http://www.shiftpixy.com</I></FONT>, at which you may access these
materials free of charge as soon as reasonably practicable after they are electronically filed with, or furnished to, the SEC. The information
contained in, or that can be accessed through, our website is not part of this prospectus. You may also request a copy of these filings,
at no cost, by writing or telephoning us at: 1015 O&rsquo;Brien Dr., Menlo Park, CA 94025, phone number (650) 924-5905.&nbsp;</FONT></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">&nbsp;</FONT></P>


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<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">&nbsp;</FONT></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: center"><FONT STYLE="font-family: Times New Roman, Times, Serif"><B>Up
to 3,062,787&nbsp;Units, with each Unit consisting of:</B></FONT></P>
<P STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt; text-align: center"></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt; text-align: center"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt"><B>One
Share of Common Stock</B></FONT></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt; text-align: center"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt"><B>One
Series A Warrant to Purchase One Share of Common Stock</B></FONT></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt; text-align: center"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt"><B>One
Series B Warrant to Purchase One Share of Common Stock</B></FONT></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt; text-align: center"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt"><B>&nbsp;</B></FONT></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt; text-align: center"><FONT STYLE="font-family: Times New Roman, Times, Serif"><B>Up
to 3,062,787 Pre-Funded Units, with each Pre-Funded Unit consisting of:</B></FONT></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt; text-align: center"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt"><B>One
Pre-Funded Warrant to Purchase One Share of Common Stock</B></FONT></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt; text-align: center"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt"><B>One
Series A Warrant to Purchase One Share of Common Stock</B></FONT></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt; text-align: center"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt"><B>One
Series B Warrant to Purchase One Share of Common Stock</B></FONT></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt; text-align: center"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt"><B>&nbsp;</B></FONT></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: center"><FONT STYLE="font-family: Times New Roman, Times, Serif"><B>Up
to 3,062,787 Shares of Common Stock Underlying the Pre-Funded Warrants</B></FONT></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: center"><FONT STYLE="font-family: Times New Roman, Times, Serif"><B>Up
to &nbsp;3,062,787 Shares of Common Stock Underlying the Series A Warrants</B></FONT></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: center"><FONT STYLE="font-family: Times New Roman, Times, Serif"><B>Up
to 3,062,787 Shares of Common Stock Underlying the Series B Warrants</B></FONT></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: center"><FONT STYLE="font-family: Times New Roman, Times, Serif">&nbsp;</FONT></P>
<P STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt; text-align: center"></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt; text-align: center"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">&nbsp;</FONT></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt; text-align: center"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt"><IMG SRC="image_005.jpg" ALT=""></FONT></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt; text-align: center"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">&nbsp;</FONT></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt; text-align: center"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt"><B>Cyngn
Inc.</B></FONT></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt; text-align: center"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">&nbsp;</FONT></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt; text-align: center"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt"><B>PRELIMINARY
PROSPECTUS</B></FONT></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt; text-align: center"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">&nbsp;</FONT></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt; text-align: center"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 14pt"><B>Aegis
Capital Corp.</B></FONT></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt; text-align: center"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">&nbsp;</FONT></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt; text-align: center"><FONT STYLE="font-family: Times New Roman, Times, Serif">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;<FONT STYLE="font-size: 10pt">,
2024</FONT></FONT></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt; text-align: center"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">&nbsp;</FONT></P>


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<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: center"><FONT STYLE="font-family: Times New Roman, Times, Serif">&nbsp;</FONT></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: center"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt"><B>PART
II</B></FONT></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; background-color: white"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">&nbsp;</FONT></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: center; background-color: white"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt"><B>INFORMATION
NOT REQUIRED IN PROSPECTUS</B></FONT></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">&nbsp;</FONT></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; background-color: white"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt"><B>ITEM
13. OTHER EXPENSES OF ISSUANCE AND DISTRIBUTION</B></FONT></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 0.35in; background-color: white"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">&nbsp;</FONT></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in; background-color: white"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">The
following table sets forth all costs and expenses, other than the estimated placement agent fees and commissions payable by us, in connection
with the offer and sale of the securities being registered. All amounts shown are estimates except for the SEC registration fee and the
FINRA filing fee.</FONT></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.35in; background-color: white"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">&nbsp;</FONT></P>

<TABLE CELLPADDING="0" CELLSPACING="0" STYLE="border-collapse: collapse; width: 100%; font: 10pt Times New Roman, Times, Serif">
  <TR STYLE="vertical-align: bottom">
    <TD STYLE="text-align: center"><FONT STYLE="font-family: Times New Roman, Times, Serif">&nbsp;</FONT></TD><TD STYLE="font-weight: bold; padding-bottom: 1.5pt"><FONT STYLE="font-family: Times New Roman, Times, Serif">&nbsp;</FONT></TD>
    <TD COLSPAN="2" STYLE="font-weight: bold; text-align: center; border-bottom: Black 1.5pt solid"><FONT STYLE="font-family: Times New Roman, Times, Serif">Amount</FONT></TD><TD STYLE="padding-bottom: 1.5pt; font-weight: bold"><FONT STYLE="font-family: Times New Roman, Times, Serif">&nbsp;</FONT></TD></TR>
  <TR STYLE="vertical-align: bottom; background-color: rgb(204,238,255)">
    <TD STYLE="width: 88%; text-align: left"><FONT STYLE="font-family: Times New Roman, Times, Serif">SEC registration fee</FONT></TD><TD STYLE="width: 1%"><FONT STYLE="font-family: Times New Roman, Times, Serif">&nbsp;</FONT></TD>
    <TD STYLE="width: 1%; text-align: left"><FONT STYLE="font-family: Times New Roman, Times, Serif">$</FONT></TD><TD STYLE="width: 9%; text-align: right"><FONT STYLE="font-family: Times New Roman, Times, Serif">3,062</FONT></TD><TD STYLE="width: 1%; text-align: left"><FONT STYLE="font-family: Times New Roman, Times, Serif">&nbsp;</FONT></TD></TR>
  <TR STYLE="vertical-align: bottom; background-color: White">
    <TD STYLE="text-align: left"><FONT STYLE="font-family: Times New Roman, Times, Serif">FINRA filing fee</FONT></TD><TD><FONT STYLE="font-family: Times New Roman, Times, Serif">&nbsp;</FONT></TD>
    <TD STYLE="text-align: left"><FONT STYLE="font-family: Times New Roman, Times, Serif">&nbsp;</FONT></TD><TD STYLE="text-align: right">11,400</TD><TD STYLE="text-align: left"><FONT STYLE="font-family: Times New Roman, Times, Serif">&nbsp;</FONT></TD></TR>
  <TR STYLE="vertical-align: bottom; background-color: rgb(204,238,255)">
    <TD STYLE="text-align: left"><FONT STYLE="font-family: Times New Roman, Times, Serif">Legal fees and expenses</FONT></TD><TD><FONT STYLE="font-family: Times New Roman, Times, Serif">&nbsp;</FONT></TD>
    <TD STYLE="text-align: left"><FONT STYLE="font-family: Times New Roman, Times, Serif">&nbsp;</FONT></TD><TD STYLE="text-align: right"><FONT STYLE="font-family: Times New Roman, Times, Serif">350,000</FONT></TD><TD STYLE="text-align: left"><FONT STYLE="font-family: Times New Roman, Times, Serif">&nbsp;</FONT></TD></TR>
  <TR STYLE="vertical-align: bottom; background-color: White">
    <TD STYLE="text-align: left"><FONT STYLE="font-family: Times New Roman, Times, Serif">Accounting fees and expenses</FONT></TD><TD><FONT STYLE="font-family: Times New Roman, Times, Serif">&nbsp;</FONT></TD>
    <TD STYLE="text-align: left"><FONT STYLE="font-family: Times New Roman, Times, Serif">&nbsp;</FONT></TD><TD STYLE="text-align: right"><FONT STYLE="font-family: Times New Roman, Times, Serif">20,000</FONT></TD><TD STYLE="text-align: left"><FONT STYLE="font-family: Times New Roman, Times, Serif">&nbsp;</FONT></TD></TR>
  <TR STYLE="vertical-align: bottom; background-color: rgb(204,238,255)">
    <TD STYLE="text-align: left"><FONT STYLE="font-family: Times New Roman, Times, Serif">Transfer agent and registrar fees and expenses</FONT></TD><TD><FONT STYLE="font-family: Times New Roman, Times, Serif">&nbsp;</FONT></TD>
    <TD STYLE="text-align: left"><FONT STYLE="font-family: Times New Roman, Times, Serif">&nbsp;</FONT></TD><TD STYLE="text-align: right"><FONT STYLE="font-family: Times New Roman, Times, Serif">3,000</FONT></TD><TD STYLE="text-align: left"><FONT STYLE="font-family: Times New Roman, Times, Serif">&nbsp;</FONT></TD></TR>
  <TR STYLE="vertical-align: bottom; background-color: White">
    <TD STYLE="text-align: left; padding-bottom: 1.5pt"><FONT STYLE="font-family: Times New Roman, Times, Serif">Miscellaneous fees and
    expenses</FONT></TD><TD STYLE="padding-bottom: 1.5pt"><FONT STYLE="font-family: Times New Roman, Times, Serif">&nbsp;</FONT></TD>
    <TD STYLE="border-bottom: Black 1.5pt solid; text-align: left"><FONT STYLE="font-family: Times New Roman, Times, Serif">&nbsp;</FONT></TD><TD STYLE="border-bottom: Black 1.5pt solid; text-align: right"><FONT STYLE="font-family: Times New Roman, Times, Serif">10,000</FONT></TD><TD STYLE="padding-bottom: 1.5pt; text-align: left"><FONT STYLE="font-family: Times New Roman, Times, Serif">&nbsp;</FONT></TD></TR>
  <TR STYLE="vertical-align: bottom; background-color: rgb(204,238,255)">
    <TD STYLE="padding-bottom: 4pt"><FONT STYLE="font-family: Times New Roman, Times, Serif">Total</FONT></TD><TD STYLE="padding-bottom: 4pt"><FONT STYLE="font-family: Times New Roman, Times, Serif">&nbsp;</FONT></TD>
    <TD STYLE="border-bottom: Black 4pt double; text-align: left"><FONT STYLE="font-family: Times New Roman, Times, Serif">$</FONT></TD><TD STYLE="border-bottom: Black 4pt double; text-align: right"><FONT STYLE="font-family: Times New Roman, Times, Serif">397,462</FONT></TD><TD STYLE="padding-bottom: 4pt; text-align: left"><FONT STYLE="font-family: Times New Roman, Times, Serif">&nbsp;</FONT></TD></TR>
  </TABLE>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.35in; background-color: white"></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.35in; background-color: white"><FONT STYLE="font-family: Times New Roman, Times, Serif">&nbsp;</FONT></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; background-color: white"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt"><B>ITEM
14. INDEMNIFICATION OF DIRECTORS AND OFFICERS</B></FONT></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in; background-color: white"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">&nbsp;</FONT></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in; background-color: white"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">Section
102 of the General Company Law of the State of Delaware (&ldquo;DGCL&rdquo;) permits a Company to eliminate the personal liability of
directors of a Company to the Company or its stockholders for monetary damages for a breach of fiduciary duty as a director, except where
the director breached his duty of loyalty, failed to act in good faith, engaged in intentional misconduct or knowingly violated a law,
authorized the payment of a dividend or approved a stock repurchase in violation of Delaware corporate law or obtained an improper personal
benefit. Our charter provides that no director of the Company shall be personally liable to it or its stockholders for monetary damages
for any breach of fiduciary duty as a director, notwithstanding any provision of law imposing such liability, except to the extent that
the DGCL prohibits the elimination or limitation of liability of directors for breaches of fiduciary duty.</FONT></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 42.85pt; background-color: white"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">&nbsp;</FONT></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in; background-color: white"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">Section
145 of the DGCL provides that a Company has the power to indemnify a director, officer, employee, or agent of the Company, or a person
serving at the request of the Company for another Company, partnership, joint venture, trust or other enterprise in related capacities
against expenses (including attorneys&rsquo; fees), judgments, fines and amounts paid in settlement actually and reasonably incurred
by the person in connection with an action, suit or proceeding to which he was or is a party or is threatened to be made a party to any
threatened, ending or completed action, suit or proceeding by reason of such position, if such person acted in good faith and in a manner
he reasonably believed to be in or not opposed to the best interests of the Company, and, in any criminal action or proceeding, had no
reasonable cause to believe his conduct was unlawful, except that, in the case of actions brought by or in the right of the Company,
no indemnification shall be made with respect to any claim, issue or matter as to which such person shall have been adjudged to be liable
to the Company unless and only to the extent that the Court of Chancery or other adjudicating court determines that, despite the adjudication
of liability but in view of all of the circumstances of the case, such person is fairly and reasonably entitled to indemnity for such
expenses which the Court of Chancery or such other court shall deem proper.</FONT></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">&nbsp;</FONT></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">If
a claim is not paid in full by the Company, the claimant may at any time thereafter bring suit against the Company to recover the unpaid
amount of the claim and, if successful in whole or in part, the claimant shall also be entitled to be paid the expense of prosecuting
such claim. It shall be a defense to any such action (other than an action brought to enforce a claim for expenses incurred in defending
any proceeding in advance of its final disposition where any undertaking required by the Bylaws has been tendered to the Company) that
the claimant has not met the standards of conduct which make it permissible under the DGCL for the Company to indemnify the claimant
for the amount claimed, but the burden of proving such defense shall be on the Company. Neither the failure of the Company (including
its board of directors (&ldquo;Board&rdquo;), legal counsel, or its stockholders) to have made a determination prior to the commencement
of such action that indemnification of the claimant is proper in the circumstances because he or she has met the applicable standard
of conduct set forth in the DGCL, nor an actual determination by the Company (including its Board, legal counsel, or its stockholders)
that the claimant has not met such applicable standard of conduct, shall be a defense to the action or create a presumption that the
claimant has not met the applicable standard of conduct. Indemnification shall include payment by the Company of expenses in defending
an action or proceeding in advance of the final disposition of such action or proceeding upon receipt of an undertaking by the person
indemnified to repay such payment if it is ultimately determined that such person is not entitled to indemnification.</FONT></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; background-color: white"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">&nbsp;</FONT></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; background-color: white"></P>

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<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; background-color: white"><FONT STYLE="font-family: Times New Roman, Times, Serif">&nbsp;</FONT></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; background-color: white"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt"><B>ITEM
15. RECENT SALES OF UNREGISTERED SECURITIES</B></FONT></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; background-color: white"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">&nbsp;</FONT></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in; background-color: white"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">Set
forth below is information regarding securities issued by us within the last three years from which were not registered under the Securities
Act of 1933, as amended:</FONT></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in; background-color: white"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">&nbsp;</FONT></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in; background-color: white"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">&#9679;&nbsp;&nbsp;&nbsp;&nbsp;
On April&nbsp;28, 2022 pursuant to a securities purchase agreement with several institutional and accredited investors we sold an aggregate
of (i) 3,790,322 shares of common stock, (ii) pre-funded warrants to purchase up to an aggregate of 2,661,291 shares of common stock,
and (iii) warrants to purchase up to an aggregate of 6,451,613 shares of common stock for gross proceeds to the Company of approximately
$20,000,000. The combined purchase price for one share of common stock and a warrant to purchase one share of common stock was $3.10
and the combined purchase price for one pre-funded warrant to purchase one share of common stock and a warrant to purchase one share
of common stock was $3.099.&nbsp;</FONT></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 0.25in; text-align: justify; background-color: white"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">&nbsp;</FONT></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in; background-color: white"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">&#9679;&nbsp;&nbsp;&nbsp;&nbsp;
On November 12, 2024, the Company entered into a Securities Purchase with certain investors pursuant to which we sold and issued, in
a private placement, senior notes with an aggregate principal amount of $4,375,000 and an aggregate of 405,125 shares of common stock
of the Company, and received proceeds before expenses of $3,500,000.</FONT></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in; background-color: white"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">&nbsp;</FONT></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in; background-color: white"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">The
issuance of the securities listed above was deemed exempt from registration under Section 4(a)(2) of the Securities Act or Regulation
D promulgated thereunder in that the issuance of securities were made to an accredited investor and did not involve a public offering.
The recipient of such securities represented its intention to acquire the securities for investment purposes only and not with a view
to or for sale in connection with any distribution thereof.</FONT></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; background-color: white"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">&nbsp;</FONT></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; background-color: white"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt"><B>Item
16. Exhibits and Financial Statement Schedules.</B></FONT></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; background-color: white"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">&nbsp;</FONT></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; text-indent: 0.5in; margin: 0pt 0; text-align: justify"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">(a)
<B><I>Exhibits</I></B>: Reference is made to the Exhibit Index following the signature pages hereto, which Exhibit Index is hereby incorporated
into this Item.</FONT></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">&nbsp;</FONT></P>

<TABLE CELLSPACING="0" CELLPADDING="0" STYLE="font: 10pt Times New Roman, Times, Serif; width: 100%; border-collapse: collapse">
  <TR STYLE="vertical-align: top">
    <TD STYLE="border-bottom: Black 1.5pt solid; text-align: justify; width: 9%"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt; text-decoration: none"><B>Exhibit
    Number</B></FONT></TD>
    <TD STYLE="padding-bottom: 1.5pt; text-align: justify; width: 1%"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt; text-decoration: none">&nbsp;</FONT></TD>
    <TD STYLE="border-bottom: Black 1.5pt solid; vertical-align: bottom; text-align: center; width: 90%"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt; text-decoration: none"><B>Description</B></FONT></TD></TR>
  <TR STYLE="vertical-align: top; background-color: rgb(204,238,255)">
    <TD STYLE="text-align: justify"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt; text-decoration: none">3.1</FONT></TD>
    <TD STYLE="text-align: justify"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt; text-decoration: none">&nbsp;</FONT></TD>
    <TD STYLE="text-align: justify"><FONT STYLE="font-family: Times New Roman, Times, Serif"><A HREF="http://www.sec.gov/Archives/edgar/data/1874097/000121390021046495/fs12021ex3-1_cyngninc.htm"><FONT STYLE="font-size: 10pt; text-decoration: none">Fourth
    Amended and Restated Certificate of Incorporation of Registrant incorporated by reference to Exhibit 3.1 to the Company&rsquo;s Amendment
    to the Registration Statement on Form S-1 (No. 333-259278) filed with the SEC on October 15, 2021.</FONT></A></FONT></TD></TR>
  <TR STYLE="vertical-align: top; background-color: White">
    <TD STYLE="text-align: justify"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt; text-decoration: none">3.2</FONT></TD>
    <TD STYLE="text-align: justify"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt; text-decoration: none">&nbsp;</FONT></TD>
    <TD STYLE="text-align: justify"><FONT STYLE="font-family: Times New Roman, Times, Serif"><A HREF="http://www.sec.gov/Archives/edgar/data/1874097/000121390021046495/fs12021ex3-2_cyngninc.htm"><FONT STYLE="font-size: 10pt; text-decoration: none">Certificate
    of Amendment to the Fourth Amended and Restated Certificate of Incorporation of Registrant incorporated by reference to Exhibit 3.2
    to the Company&rsquo;s Amendment to the Registration Statement on Form S-1 (No. 333-259278) filed with the SEC on October 15, 2021.</FONT></A></FONT></TD></TR>
  <TR STYLE="vertical-align: top; background-color: rgb(204,238,255)">
    <TD STYLE="text-align: justify"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt; text-decoration: none">3.3</FONT></TD>
    <TD STYLE="text-align: justify"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt; text-decoration: none">&nbsp;</FONT></TD>
    <TD STYLE="text-align: justify"><FONT STYLE="font-family: Times New Roman, Times, Serif"><A HREF="http://www.sec.gov/Archives/edgar/data/1874097/000121390021046495/fs12021ex3-3_cyngninc.htm"><FONT STYLE="font-size: 10pt; text-decoration: none">Second
    Certificate of Amendment to the Fourth Amended and Restated Certificate of Incorporation of Registrant incorporated by reference
    to Exhibit 3.3 to the Company&rsquo;s Amendment to the Registration Statement on Form S-1 (No. 333-259278) filed with the SEC on
    October 15, 2021.</FONT></A></FONT></TD></TR>
  <TR STYLE="vertical-align: top; background-color: White">
    <TD STYLE="text-align: justify"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt; text-decoration: none">3.4</FONT></TD>
    <TD STYLE="text-align: justify"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt; text-decoration: none">&nbsp;</FONT></TD>
    <TD STYLE="text-align: justify"><FONT STYLE="font-family: Times New Roman, Times, Serif"><A HREF="http://www.sec.gov/Archives/edgar/data/1874097/000121390021046495/fs12021ex3-4_cyngninc.htm"><FONT STYLE="font-size: 10pt; text-decoration: none">Third
    Certificate of Amendment to the Fourth Amended and Restated Certificate of Incorporation of Registrant incorporated by reference
    to Exhibit 3.4 to the Company&rsquo;s Amendment to the Registration Statement on Form S-1 (No. 333-259278) filed with the SEC on
    October 15, 2021.</FONT></A></FONT></TD></TR>
  <TR STYLE="vertical-align: top; background-color: rgb(204,238,255)">
    <TD STYLE="text-align: justify"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt; text-decoration: none">3.5</FONT></TD>
    <TD STYLE="text-align: justify"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt; text-decoration: none">&nbsp;</FONT></TD>
    <TD STYLE="text-align: justify"><FONT STYLE="font-family: Times New Roman, Times, Serif"><A HREF="http://www.sec.gov/Archives/edgar/data/1874097/000121390021046495/fs12021ex3-5_cyngninc.htm"><FONT STYLE="font-size: 10pt; text-decoration: none">Fourth
    Certificate of Amendment to the Fourth Amended and Restated Certificate of Incorporation of Registrant incorporated by reference
    to Exhibit 3.5 to the Company&rsquo;s Amendment to the Registration Statement on Form S-1 (No. 333-259278) filed with the SEC on
    October 15, 2021.</FONT></A></FONT></TD></TR>
  <TR STYLE="vertical-align: top; background-color: White">
    <TD STYLE="text-align: justify"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt; text-decoration: none">3.6</FONT></TD>
    <TD STYLE="text-align: justify"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt; text-decoration: none">&nbsp;</FONT></TD>
    <TD STYLE="text-align: justify"><FONT STYLE="font-family: Times New Roman, Times, Serif"><A HREF="http://www.sec.gov/Archives/edgar/data/1874097/000121390021060692/f10q0921ex3-6_cyngninc.htm"><FONT STYLE="font-size: 10pt; text-decoration: none">Fifth
    Amended and Restated Certificate of Incorporation of Registrant incorporated by reference to Exhibit 3.6 to the Company&rsquo;s Quarterly
    Report on Form 10-Q filed with the SEC on November 19, 2021.</FONT></A></FONT></TD></TR>

<TR STYLE="vertical-align: top; background-color: rgb(204,238,255)">
    <TD STYLE="text-align: justify"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt; text-decoration: none">3.7</FONT></TD>
    <TD STYLE="text-align: justify"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt; text-decoration: none">&nbsp;</FONT></TD>
    <TD STYLE="text-align: justify"><FONT STYLE="font-family: Times New Roman, Times, Serif"><A HREF="http://www.sec.gov/Archives/edgar/data/1874097/000121390023090604/ea189005ex3-8_cyngninc.htm"><FONT STYLE="font-size: 10pt; text-decoration: none">Certificate
    of Amendment to the Fifth Amended and Restated Certificate of Incorporation of the Registrant, incorporated by reference to Exhibit
    3.8 to the Company&rsquo;s Amendment to the Registration Statement on Form S-1 (No. 333-275530) filed with the SEC on November 28,
    2023.</FONT></A></FONT></TD></TR>
  <TR STYLE="vertical-align: top; background-color: White">
    <TD STYLE="text-align: justify"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt; text-decoration: none">3.8</FONT></TD>
    <TD STYLE="text-align: justify"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt; text-decoration: none">&nbsp;</FONT></TD>
    <TD STYLE="text-align: justify"><FONT STYLE="font-family: Times New Roman, Times, Serif"><A HREF="http://www.sec.gov/Archives/edgar/data/1874097/000121390024060172/ea020916301ex3-1_cyngn.htm"><FONT STYLE="font-size: 10pt; text-decoration: none">Certificate
    of Amendment to the Fifth Amended and Restated Certificate of Incorporation incorporated by reference to Exhibit 3.1 to the Company&rsquo;s
    Current Report on Form 8-K filed with the SEC on July 9, 2024.</FONT></A></FONT></TD></TR>
  <TR STYLE="vertical-align: top; background-color: rgb(204,238,255)">
    <TD STYLE="text-align: justify"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt; text-decoration: none">3.9</FONT></TD>
    <TD STYLE="text-align: justify"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt; text-decoration: none">&nbsp;</FONT></TD>
    <TD STYLE="text-align: justify"><FONT STYLE="font-family: Times New Roman, Times, Serif"><A HREF="http://www.sec.gov/Archives/edgar/data/1874097/000121390021050661/fs12021a1ex3-8_cyngninc.htm"><FONT STYLE="font-size: 10pt; text-decoration: none">Amended
    and Restated Bylaws of Registrant, incorporated by reference to Exhibit 3.8 to the Company&rsquo;s Amendment to the Registration
    Statement on Form S-1 (No. 333-259278) filed with the SEC on October 15, 2021.</FONT></A></FONT></TD></TR>
  <TR STYLE="vertical-align: top; background-color: White">
    <TD STYLE="text-align: justify"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt; text-decoration: none">3.10</FONT></TD>
    <TD STYLE="text-align: justify"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt; text-decoration: none">&nbsp;</FONT></TD>
    <TD STYLE="text-align: justify"><FONT STYLE="font-family: Times New Roman, Times, Serif"><A HREF="http://www.sec.gov/Archives/edgar/data/1874097/000121390024041809/ea020573401ex3-1_cyngninc.htm"><FONT STYLE="font-size: 10pt; text-decoration: none">Amendment
    No. 1 to Amended and Restated Bylaws, effective May 7, 2024, incorporated by reference to Exhibit 3.1 to the Company&rsquo;s Current
    Report on Form 8-K filed with the SEC on May 10, 2024.</FONT></A></FONT></TD></TR>
  <TR STYLE="vertical-align: top; background-color: rgb(204,238,255)">
    <TD STYLE="text-align: justify"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt; text-decoration: none">4.1</FONT></TD>
    <TD STYLE="text-align: justify"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt; text-decoration: none">&nbsp;</FONT></TD>
    <TD STYLE="text-align: justify"><FONT STYLE="font-family: Times New Roman, Times, Serif"><A HREF="http://www.sec.gov/Archives/edgar/data/1874097/000121390022014911/f10k2021ex4-1_cyngninc.htm"><FONT STYLE="font-size: 10pt; text-decoration: none">Description
    of Registrant&rsquo;s Securities (filed as Exhibit 4.1 to the Company&rsquo;s Annual Report on Form 10-K for year ended December
    31, 2021)</FONT></A></FONT></TD></TR>

<TR STYLE="vertical-align: top; background-color: White">
    <TD STYLE="padding: 0pt; text-align: justify; text-indent: 0pt"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">4.2*</FONT></TD>
    <TD STYLE="padding: 0pt; text-align: justify; text-indent: 0pt"><FONT STYLE="font-family: Times New Roman, Times, Serif">&nbsp;</FONT></TD>
    <TD STYLE="padding: 0pt; text-align: justify; text-indent: 0pt"><A HREF="ea022211801ex4-2_cyngn.htm"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">Form of Pre-Funded Warrant</FONT></A></TD></TR>
  <TR STYLE="vertical-align: top; background-color: rgb(204,238,255)">
    <TD STYLE="padding: 0pt; text-align: justify; text-indent: 0pt"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">4.3*</FONT></TD>
    <TD STYLE="padding: 0pt; text-align: justify; text-indent: 0pt"><FONT STYLE="font-family: Times New Roman, Times, Serif">&nbsp;</FONT></TD>
    <TD STYLE="padding: 0pt; text-align: justify; text-indent: 0pt"><A HREF="ea022211801ex4-3_cyngn.htm"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">Form of Series A Common Stock Warrant</FONT></A></TD></TR>
  <TR STYLE="vertical-align: top; background-color: White">
    <TD STYLE="padding: 0pt; text-align: justify; text-indent: 0pt"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">4.4*</FONT></TD>
    <TD STYLE="padding: 0pt; text-align: justify; text-indent: 0pt"><FONT STYLE="font-family: Times New Roman, Times, Serif">&nbsp;</FONT></TD>
    <TD STYLE="padding: 0pt; text-align: justify; text-indent: 0pt"><A HREF="ea022211801ex4-4_cyngn.htm"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">Form of Series B Common Stock Warrant</FONT></A></TD></TR>

<TR STYLE="vertical-align: top; background-color: rgb(204,238,255)">
    <TD STYLE="text-align: justify; width: 9%"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt; text-decoration: none">5.1*</FONT></TD>
    <TD STYLE="text-align: justify; width: 1%"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt; text-decoration: none">&nbsp;</FONT></TD>
    <TD STYLE="text-align: justify; width: 90%"><A HREF="ea022211801ex5-1_cyngn.htm"><FONT STYLE="font-family: Times New Roman, Times, Serif"><FONT STYLE="font-size: 10pt; text-decoration: none">Opinion of Sichenzia Ross Ference Carmell LLP</FONT></FONT></A></TD></TR>
  <TR STYLE="vertical-align: top; background-color: White">
    <TD STYLE="text-align: justify"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt; text-decoration: none">10.1</FONT></TD>
    <TD STYLE="text-align: justify"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt; text-decoration: none">&nbsp;</FONT></TD>
    <TD STYLE="text-align: justify"><FONT STYLE="font-family: Times New Roman, Times, Serif"><A HREF="http://www.sec.gov/Archives/edgar/data/1874097/000121390021046495/fs12021ex10-2_cyngninc.htm"><FONT STYLE="font-size: 10pt; text-decoration: none">Offer
    Letter between the Company and Ben Landen dated as of September 18, 2019 incorporated by reference to Exhibit 10.2 to the Company&rsquo;s
    Amendment to the Registration Statement on Form S-1 (No. 333-259278) filed with the SEC on October 15, 2021.</FONT></A></FONT></TD></TR>
  <TR STYLE="vertical-align: top; background-color: rgb(204,238,255)">
    <TD STYLE="text-align: justify"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt; text-decoration: none">10.2+</FONT></TD>
    <TD STYLE="text-align: justify"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt; text-decoration: none">&nbsp;</FONT></TD>
    <TD STYLE="text-align: justify"><FONT STYLE="font-family: Times New Roman, Times, Serif"><A HREF="http://www.sec.gov/Archives/edgar/data/1874097/000121390021046495/fs12021ex10-3_cyngninc.htm"><FONT STYLE="font-size: 10pt; text-decoration: none">Offer
    Letter between the Company and Donald Alvarez dated as of May 28, 2021 incorporated by reference to Exhibit 10.3 to the Company&rsquo;s
    Amendment to the Registration Statement on Form S-1 (No. 333-259278) filed with the SEC on October 15, 2021.</FONT></A></FONT></TD></TR>
</TABLE>
<P STYLE="margin: 0"><FONT STYLE="font-family: Times New Roman, Times, Serif">&nbsp;</FONT></P>

<P STYLE="margin: 0"></P>

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<P STYLE="margin: 0"><FONT STYLE="font-family: Times New Roman, Times, Serif">&nbsp;</FONT></P>


<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0"></P>

<TABLE CELLSPACING="0" CELLPADDING="0" STYLE="font: 10pt Times New Roman, Times, Serif; width: 100%; border-collapse: collapse">
  <TR STYLE="vertical-align: top; background-color: rgb(204,238,255)">
    <TD STYLE="text-align: justify; width: 9%"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt; text-decoration: none">10.3</FONT></TD>
    <TD STYLE="text-align: justify; width: 1%"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt; text-decoration: none">&nbsp;</FONT></TD>
    <TD STYLE="text-align: justify; width: 90%"><FONT STYLE="font-family: Times New Roman, Times, Serif"><A HREF="http://www.sec.gov/Archives/edgar/data/1874097/000121390021046495/fs12021ex10-4_cyngninc.htm"><FONT STYLE="font-size: 10pt; text-decoration: none">2013
    Equity Incentive Plan incorporated by reference to Exhibit 10.4 to the Company&rsquo;s Amendment to the Registration Statement on
    Form S-1 (No. 333-259278) filed with the SEC on October 15, 2021.</FONT></A></FONT></TD></TR>
  <TR STYLE="vertical-align: top; background-color: White">
    <TD STYLE="text-align: justify"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt; text-decoration: none">10.4</FONT></TD>
    <TD STYLE="text-align: justify"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt; text-decoration: none">&nbsp;</FONT></TD>
    <TD STYLE="text-align: justify"><FONT STYLE="font-family: Times New Roman, Times, Serif"><A HREF="http://www.sec.gov/Archives/edgar/data/1874097/000121390021053094/fs12021a2ex10-5_cyngninc.htm"><FONT STYLE="font-size: 10pt; text-decoration: none">2021
    Incentive Plan incorporated by reference to Exhibit 10.5 to the Company&rsquo;s Amendment to the Registration Statement on Form S-1
    (No. 333-259278) filed with the SEC on October 15, 2021.</FONT></A></FONT></TD></TR>
  <TR STYLE="vertical-align: top; background-color: rgb(204,238,255)">
    <TD STYLE="text-align: justify"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt; text-decoration: none">10.5</FONT></TD>
    <TD STYLE="text-align: justify"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt; text-decoration: none">&nbsp;</FONT></TD>
    <TD STYLE="text-align: justify"><FONT STYLE="font-family: Times New Roman, Times, Serif"><A HREF="http://www.sec.gov/Archives/edgar/data/1874097/000121390024008500/ea191922ex4-2_cyngninc.htm"><FONT STYLE="font-size: 10pt; text-decoration: none">Amendment
    to 2021 Equity Incentive Plan incorporated by reference to Exhibit 4.2 to the Company&rsquo;s Registration Statement on Form S-8
    filed with the SEC on January 31, 2024.</FONT></A></FONT></TD></TR>
  <TR STYLE="vertical-align: top; background-color: White">
    <TD STYLE="text-align: justify"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt; text-decoration: none">10.6</FONT></TD>
    <TD STYLE="text-align: justify"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt; text-decoration: none">&nbsp;</FONT></TD>
    <TD STYLE="text-align: justify"><FONT STYLE="font-family: Times New Roman, Times, Serif"><A HREF="http://www.sec.gov/Archives/edgar/data/1874097/000121390024045655/ea0205714-02.htm"><FONT STYLE="font-size: 10pt; text-decoration: none">Amendment
    to 2021 Equity Incentive Plan incorporated by reference to the Company&rsquo;s Proxy Statement filed with the Securities and Exchange
    Commission on May 21, 2024.</FONT></A></FONT></TD></TR>
  <TR STYLE="vertical-align: top; background-color: rgb(204,238,255)">
    <TD STYLE="text-align: justify"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt; text-decoration: none">10.7</FONT></TD>
    <TD STYLE="text-align: justify"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt; text-decoration: none">&nbsp;</FONT></TD>
    <TD STYLE="text-align: justify"><FONT STYLE="font-family: Times New Roman, Times, Serif"><A HREF="http://www.sec.gov/Archives/edgar/data/1874097/000121390021053094/fs12021a2ex10-6_cyngninc.htm"><FONT STYLE="font-size: 10pt; text-decoration: none">Second
    Amended and Restated Investors&rsquo; Rights Agreement dated as of December 24, 2014 incorporated by reference to Exhibit 10.6 to
    the Company&rsquo;s Amendment to the Registration Statement on Form S-1 (No. 333-259278) filed with the SEC on October 15, 2021.</FONT></A></FONT></TD></TR>
  <TR STYLE="vertical-align: top; background-color: White">
    <TD STYLE="text-align: justify"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt; text-decoration: none">10.8+</FONT></TD>
    <TD STYLE="text-align: justify"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt; text-decoration: none">&nbsp;</FONT></TD>
    <TD STYLE="text-align: justify"><FONT STYLE="font-family: Times New Roman, Times, Serif"><A HREF="http://www.sec.gov/Archives/edgar/data/1874097/000121390021053094/fs12021a2ex10-7_cyngninc.htm"><FONT STYLE="font-size: 10pt; text-decoration: none">Form
    of Indemnification Agreement to be entered into with the Registrant and each of its officers and directors incorporated by reference
    to Exhibit 10.7 to the Company&rsquo;s Amendment to the Registration Statement on Form S-1 (No. 333-259278) filed with the SEC on
    October 15, 2021.</FONT></A></FONT></TD></TR>
  <TR STYLE="vertical-align: top; background-color: rgb(204,238,255)">
    <TD STYLE="text-align: justify"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt; text-decoration: none">10.9+</FONT></TD>
    <TD STYLE="text-align: justify"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt; text-decoration: none">&nbsp;</FONT></TD>
    <TD STYLE="text-align: justify"><FONT STYLE="font-family: Times New Roman, Times, Serif"><A HREF="http://www.sec.gov/Archives/edgar/data/1874097/000121390022000964/ea153553ex10-1_cyngn.htm"><FONT STYLE="font-size: 10pt; text-decoration: none">Employment
    Agreement by and between Cyngn Inc. and Lior Tal dated as of January 1, 2022 incorporated by reference to Exhibit 10.1 to the Company&rsquo;s
    Current Report on Form 8-K filed with the SEC on January 6, 2022.</FONT></A></FONT></TD></TR>
  <TR STYLE="vertical-align: top; background-color: White">
    <TD STYLE="text-align: justify"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt; text-decoration: none">10.10</FONT></TD>
    <TD STYLE="text-align: justify"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt; text-decoration: none">&nbsp;</FONT></TD>
    <TD STYLE="text-align: justify"><FONT STYLE="font-family: Times New Roman, Times, Serif"><A HREF="http://www.sec.gov/Archives/edgar/data/1874097/000121390022022807/ea159118ex10-1_cyngninc.htm"><FONT STYLE="font-size: 10pt; text-decoration: none">Engagement
    Letter dated April 27, 2022 incorporated by reference to Exhibit 10.1 to the Company&rsquo;s Current Report on Form 8-K filed with
    the SEC on April 29, 2022.</FONT></A></FONT></TD></TR>
  <TR STYLE="vertical-align: top; background-color: rgb(204,238,255)">
    <TD STYLE="text-align: justify"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt; text-decoration: none">10.11</FONT></TD>
    <TD STYLE="text-align: justify"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt; text-decoration: none">&nbsp;</FONT></TD>
    <TD STYLE="text-align: justify"><FONT STYLE="font-family: Times New Roman, Times, Serif"><A HREF="http://www.sec.gov/Archives/edgar/data/1874097/000121390022022807/ea159118ex10-2_cyngninc.htm"><FONT STYLE="font-size: 10pt; text-decoration: none">Form
    of Securities Purchase Agreement incorporated by reference to Exhibit 10.2 to the Company&rsquo;s Current Report on Form 8-K filed
    with the SEC on April 29, 2022.</FONT></A></FONT></TD></TR>
  <TR STYLE="vertical-align: top; background-color: White">
    <TD STYLE="text-align: justify"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt; text-decoration: none">10.12</FONT></TD>
    <TD STYLE="text-align: justify"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt; text-decoration: none">&nbsp;</FONT></TD>
    <TD STYLE="text-align: justify"><FONT STYLE="font-family: Times New Roman, Times, Serif"><A HREF="http://www.sec.gov/Archives/edgar/data/1874097/000121390022022807/ea159118ex10-3_cyngninc.htm"><FONT STYLE="font-size: 10pt; text-decoration: none">Form
    of Warrant incorporated by reference to Exhibit 10.3 to the Company&rsquo;s Current Report on Form 8-K filed with the SEC on April
    29, 2022.</FONT></A></FONT></TD></TR>
  <TR STYLE="vertical-align: top; background-color: rgb(204,238,255)">
    <TD STYLE="text-align: justify"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt; text-decoration: none">10.13</FONT></TD>
    <TD STYLE="text-align: justify"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt; text-decoration: none">&nbsp;</FONT></TD>
    <TD STYLE="text-align: justify"><FONT STYLE="font-family: Times New Roman, Times, Serif"><A HREF="http://www.sec.gov/Archives/edgar/data/1874097/000121390022022807/ea159118ex10-4_cyngninc.htm"><FONT STYLE="font-size: 10pt; text-decoration: none">Form
    of Registration Rights Agreement incorporated by reference to Exhibit 10.4 to the Company&rsquo;s Current Report on Form 8-K filed
    with the SEC on April 29, 2022.</FONT></A></FONT></TD></TR>
  <TR STYLE="vertical-align: top; background-color: White">
    <TD STYLE="text-align: justify"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt; text-decoration: none">10.14</FONT></TD>
    <TD STYLE="text-align: justify"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt; text-decoration: none">&nbsp;</FONT></TD>
    <TD STYLE="text-align: justify"><FONT STYLE="font-family: Times New Roman, Times, Serif"><A HREF="http://www.sec.gov/Archives/edgar/data/1874097/000121390022022807/ea159118ex10-5_cyngninc.htm"><FONT STYLE="font-size: 10pt; text-decoration: none">Form
    of Pre-Funded Warrants incorporated by reference to Exhibit 10.5 to the Company&rsquo;s Current Report on Form 8-K filed with the
    SEC on April 29, 2022.</FONT></A></FONT></TD></TR>
  <TR STYLE="vertical-align: top; background-color: rgb(204,238,255)">
    <TD STYLE="text-align: justify"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt; text-decoration: none">10.15</FONT></TD>
    <TD STYLE="text-align: justify"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt; text-decoration: none">&nbsp;</FONT></TD>
    <TD STYLE="text-align: justify"><FONT STYLE="font-family: Times New Roman, Times, Serif"><A HREF="http://www.sec.gov/Archives/edgar/data/1874097/000121390023044508/ea179173ex1-2_cyngninc.htm"><FONT STYLE="font-size: 10pt; text-decoration: none">ATM
    Sales Agreement by and between the Company and Virtu Americas LLC, dated May 31, 2023 incorporated by reference to Exhibit 1.2 to
    the Company&rsquo;s Registration Statement on Form S-3 filed with the SEC on May 31, 2023</FONT></A></FONT></TD></TR>
  <TR STYLE="vertical-align: top; background-color: White">
    <TD STYLE="text-align: justify"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt; text-decoration: none">10.16</FONT></TD>
    <TD STYLE="text-align: justify"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt; text-decoration: none">&nbsp;</FONT></TD>
    <TD STYLE="text-align: justify"><FONT STYLE="font-family: Times New Roman, Times, Serif"><A HREF="http://www.sec.gov/Archives/edgar/data/1874097/000121390023094816/ea189860ex10-1_cyngn.htm"><FONT STYLE="font-size: 10pt; text-decoration: none">Placement
    Agent Agreement between the Company and Aegis Capital Corp. dated December 8, 2023 incorporated by reference to Exhibit 10.1 to the
    Company&rsquo;s Current Report on Form 8-K filed with the SEC on December 11, 2023</FONT></A></FONT></TD></TR>
  <TR STYLE="vertical-align: top; background-color: rgb(204,238,255)">
    <TD STYLE="text-align: justify"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt; text-decoration: none">10.17</FONT></TD>
    <TD STYLE="text-align: justify"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt; text-decoration: none">&nbsp;</FONT></TD>
    <TD STYLE="text-align: justify"><FONT STYLE="font-family: Times New Roman, Times, Serif"><A HREF="http://www.sec.gov/Archives/edgar/data/1874097/000121390023094816/ea189860ex10-2_cyngn.htm"><FONT STYLE="font-size: 10pt; text-decoration: none">Form
    of Pre-funded Warrant incorporated by reference to Exhibit 10.2 to the Company&rsquo;s Current Report on Form 8-K filed with the
    SEC on December 11, 2023</FONT></A></FONT></TD></TR>
  <TR STYLE="vertical-align: top; background-color: White">
    <TD STYLE="text-align: justify"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt; text-decoration: none">10.18+</FONT></TD>
    <TD STYLE="text-align: justify"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt; text-decoration: none">&nbsp;</FONT></TD>
    <TD STYLE="text-align: justify"><FONT STYLE="font-family: Times New Roman, Times, Serif"><A HREF="http://www.sec.gov/Archives/edgar/data/1874097/000121390024020777/f10k2023ex10-17_cyngninc.htm"><FONT STYLE="font-size: 10pt; text-decoration: none">Form
    of Severance and Change of Control Agreement incorporated by reference to Exhibit 10.17 to the Company&rsquo;s Annual Report on Form
    10-K filed with the SEC on March 7, 2024</FONT></A></FONT></TD></TR>
  <TR STYLE="vertical-align: top; background-color: rgb(204,238,255)">
    <TD STYLE="text-align: justify"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt; text-decoration: none">10.19+</FONT></TD>
    <TD STYLE="text-align: justify"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt; text-decoration: none">&nbsp;</FONT></TD>
    <TD STYLE="text-align: justify"><FONT STYLE="font-family: Times New Roman, Times, Serif"><A HREF="http://www.sec.gov/Archives/edgar/data/1874097/000121390024044811/ea020638601ex10-1_cyngn.htm"><FONT STYLE="font-size: 10pt; text-decoration: none">Severance
    and Change of Control Agreement by and between Cyngn Inc. and Donald Alvarez dated May 15, 2024 incorporated by reference to Exhibit
    10.1 to the Company&rsquo;s Current Report on Form 8-K filed with the SEC on May 17, 2024.</FONT></A></FONT></TD></TR>
  <TR STYLE="vertical-align: top; background-color: White">
    <TD STYLE="text-align: justify"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt; text-decoration: none">10.20</FONT></TD>
    <TD STYLE="text-align: justify"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt; text-decoration: none">&nbsp;</FONT></TD>
    <TD STYLE="text-align: justify"><FONT STYLE="font-family: Times New Roman, Times, Serif"><A HREF="http://www.sec.gov/Archives/edgar/data/1874097/000121390024096917/ea022084501ex10-1_cyngn.htm"><FONT STYLE="font-size: 10pt; text-decoration: none">Form
    of Securities Purchase Agreement dated November 12, 2024 incorporated by reference to Exhibit 10.1 to the Company&rsquo;s Current
    Report on Form 8-K filed with the SEC on November 12, 2024.</FONT></A></FONT></TD></TR>
  <TR STYLE="vertical-align: top; background-color: rgb(204,238,255)">
    <TD STYLE="text-align: justify"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt; text-decoration: none">10.21</FONT></TD>
    <TD STYLE="text-align: justify"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt; text-decoration: none">&nbsp;</FONT></TD>
    <TD STYLE="text-align: justify"><FONT STYLE="font-family: Times New Roman, Times, Serif"><A HREF="http://www.sec.gov/Archives/edgar/data/1874097/000121390024096917/ea022084501ex10-2_cyngn.htm"><FONT STYLE="font-size: 10pt; text-decoration: none">Form
    of Note dated November 12, 2024 incorporated by reference to Exhibit 10.2 to the Company&rsquo;s Current Report on Form 8-K filed
    with the SEC on November 12, 2024.</FONT></A></FONT></TD></TR>
  <TR STYLE="vertical-align: top; background-color: White">
    <TD STYLE="text-align: justify"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt; text-decoration: none">10.22</FONT></TD>
    <TD STYLE="text-align: justify"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt; text-decoration: none">&nbsp;</FONT></TD>
    <TD STYLE="text-align: justify"><FONT STYLE="font-family: Times New Roman, Times, Serif"><A HREF="http://www.sec.gov/Archives/edgar/data/1874097/000121390024096917/ea022084501ex10-3_cyngn.htm"><FONT STYLE="font-size: 10pt; text-decoration: none">Form
    of Registration Rights Agreement dated November 12, 2024 incorporated by reference to Exhibit 10.3 to the Company&rsquo;s Current
    Report on Form 8-K filed with the SEC on November 12, 2024.</FONT></A></FONT></TD></TR>
  <TR STYLE="vertical-align: top; background-color: rgb(204,238,255)">
    <TD STYLE="text-align: justify"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt; text-decoration: none">10.23</FONT></TD>
    <TD STYLE="text-align: justify"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt; text-decoration: none">&nbsp;</FONT></TD>
    <TD STYLE="text-align: justify"><FONT STYLE="font-family: Times New Roman, Times, Serif"><A HREF="http://www.sec.gov/Archives/edgar/data/1874097/000121390024096917/ea022084501ex10-4_cyngn.htm"><FONT STYLE="font-size: 10pt; text-decoration: none">Form
    of Lock-Up Agreement incorporated by reference to Exhibit 10.4 to the Company&rsquo;s Current Report on Form 8-K filed with the SEC
    on November 12, 2024.</FONT></A></FONT></TD></TR>
  <TR STYLE="vertical-align: top; background-color: White">
    <TD STYLE="text-align: justify"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt; text-decoration: none">10.24</FONT></TD>
    <TD STYLE="text-align: justify"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt; text-decoration: none">&nbsp;</FONT></TD>
    <TD STYLE="text-align: justify"><FONT STYLE="font-family: Times New Roman, Times, Serif"><A HREF="http://www.sec.gov/Archives/edgar/data/1874097/000121390024096917/ea022084501ex10-5_cyngn.htm"><FONT STYLE="font-size: 10pt; text-decoration: none">Form
    of Placement Agent Agreement incorporated by reference to Exhibit 10.5 to the Company&rsquo;s Current Report on Form 8-K filed with
    the SEC on November 12, 2024.</FONT></A></FONT></TD></TR>
  <TR STYLE="vertical-align: top; background-color: rgb(204,238,255)">
    <TD STYLE="text-align: justify"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt; text-decoration: none">10.25*</FONT></TD>
    <TD STYLE="text-align: justify"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt; text-decoration: none">&nbsp;</FONT></TD>
    <TD STYLE="text-align: justify"><A HREF="ea022211801ex10-25_cyngn.htm"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt; text-decoration: none">Form of Placement Agent Agreement</FONT></A></TD></TR>
  <TR STYLE="vertical-align: top; background-color: White">
    <TD STYLE="text-align: justify"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt; text-decoration: none">21.1</FONT></TD>
    <TD STYLE="text-align: justify"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt; text-decoration: none">&nbsp;</FONT></TD>
    <TD STYLE="text-align: justify"><FONT STYLE="font-family: Times New Roman, Times, Serif"><A HREF="http://www.sec.gov/Archives/edgar/data/1874097/000121390024020777/f10k2023ex21-1_cyngninc.htm"><FONT STYLE="font-size: 10pt; text-decoration: none">List
    of Subsidiaries of the Registrant incorporated by reference to Exhibit 21.1 to the Company&rsquo;s Annual Report on Form 10-K filed
    with the SEC on March 7, 2024.</FONT></A></FONT></TD></TR>
  <TR STYLE="vertical-align: top; background-color: rgb(204,238,255)">
    <TD STYLE="text-align: justify"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt; text-decoration: none">23.1*</FONT></TD>
    <TD STYLE="text-align: justify"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt; text-decoration: none">&nbsp;</FONT></TD>
    <TD STYLE="text-align: justify"><A HREF="ea022211801ex23-1_cyngn.htm"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt; text-decoration: none">Consent of Marcum LLP</FONT></A></TD></TR>
  <TR STYLE="vertical-align: top; background-color: White">
    <TD STYLE="text-align: justify"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt; text-decoration: none">23.2*</FONT></TD>
    <TD STYLE="text-align: justify"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt; text-decoration: none">&nbsp;</FONT></TD>
    <TD STYLE="text-align: justify"><A HREF="ea022211801ex5-1_cyngn.htm"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt; text-decoration: none">Consent of Sichenzia Ross Ference Carmel LLP (included in Exhibit 5.1)</FONT></A></TD></TR>
  <TR STYLE="vertical-align: top; background-color: rgb(204,238,255)">
    <TD STYLE="text-align: justify"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt; text-decoration: none">24.1</FONT></TD>
    <TD STYLE="text-align: justify"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt; text-decoration: none">&nbsp;</FONT></TD>
    <TD STYLE="text-align: justify"><FONT STYLE="font-family: Times New Roman, Times, Serif"><A HREF="#cy_016"><FONT STYLE="font-size: 10pt; text-decoration: none">Power
    of Attorney (included on the signature page)</FONT></A></FONT></TD></TR>
  <TR STYLE="vertical-align: top; background-color: White">
    <TD STYLE="text-align: justify"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt; text-decoration: none">107</FONT></TD>
    <TD STYLE="text-align: justify"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt; text-decoration: none">&nbsp;</FONT></TD>
    <TD STYLE="text-align: justify"><A HREF="ea022211801ex-fee_cyngn.htm"><FONT STYLE="font-family: Times New Roman, Times, Serif"><FONT STYLE="font-size: 10pt; text-decoration: none">Filing Fee</FONT></FONT></A></TD></TR>
  </TABLE>
<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">&nbsp;</FONT></P>

<TABLE CELLPADDING="0" CELLSPACING="0" STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt; width: 100%"><TR STYLE="vertical-align: top; text-align: justify">
<TD STYLE="width: 0in"></TD><TD STYLE="width: 0.25in; text-align: left"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">+</FONT></TD><TD STYLE="text-align: justify"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">Indicates
                                            management contract or compensatory plan.</FONT></TD>
</TR></TABLE>

<TABLE CELLPADDING="0" CELLSPACING="0" STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt; width: 100%"><TR STYLE="vertical-align: top; text-align: justify">
<TD STYLE="width: 0in"></TD><TD STYLE="width: 0.25in; text-align: left"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">*</FONT></TD><TD STYLE="text-align: justify"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">Filed
                                            herewith.</FONT></TD>
</TR></TABLE>
<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt"><B>&nbsp;</B></FONT></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0"></P>

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<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt"><B>&nbsp;</B></FONT></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; background-color: white"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt"><B>Item
17. Undertakings.</B></FONT></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; background-color: white"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">&nbsp;</FONT></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">The
undersigned registrant hereby undertakes:</FONT></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">&nbsp;</FONT></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">(1)
To file, during any period in which offers or sales are being made, a post-effective amendment to this registration statement:</FONT></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">&nbsp;</FONT></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.75in"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">(i)
To include any prospectus required by section 10(a)(3) of the Securities Act of 1933, as amended (the &ldquo;Securities Act&rdquo;);</FONT></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">&nbsp;</FONT></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.75in"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">(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 Securities and Exchange Commission pursuant to Rule 424(b) if, in the aggregate,
the changes in volume and price represent no more than a 20 percent change in the maximum aggregate offering price set forth in the &ldquo;Calculation
of Registration Fee&rdquo; table in the effective registration statement; and</FONT></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">&nbsp;</FONT></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.75in"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">(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 (1)(i), (1)(ii) and (1)(iii)
above do not apply if the information required to be included in a post-effective amendment by those paragraphs is contained in reports
filed with or furnished to the Securities and Exchange Commission by the registrant pursuant to Section 13 or Section 15(d) of the Securities
Exchange Act of 1934 that are incorporated by reference in the registration statement, or is contained in a form of prospectus filed
pursuant to Rule 424(b) that is part of the registration statement.</FONT></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">&nbsp;</FONT></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">(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.</FONT></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">&nbsp;</FONT></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">(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.</FONT></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">&nbsp;</FONT></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">(4)
That, for the purpose of determining liability under the Securities Act to any purchaser:</FONT></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 32.75pt"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">&nbsp;</FONT></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.75in"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">(A)
Each prospectus filed by the registrant pursuant to Rule 424(b)(3) shall be deemed to be part of the registration statement as of the
date the filed prospectus was deemed part of and included in the registration statement; and</FONT></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">&nbsp;</FONT></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.75in"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">(B)
Each prospectus filed pursuant to Rule 424(b) as part of a registration statement relating to an offering, other than registration statements
relying on Rule 430B or other than prospectuses filed in reliance on Rule 430A, shall be deemed to be part of and included in the registration
statement as of the date it is first used after effectiveness. Provided, however, that no statement made in a registration statement
or prospectus that is part of the registration statement or made in a document incorporated or deemed incorporated by reference into
the registration statement or prospectus that is part of the registration statement will, as to a purchaser with a time of contract of
sale prior to such first use, supersede or modify any statement that was made in the registration statement or prospectus that was part
of the registration statement or made in any such document immediately prior to such date of first use.</FONT></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">&nbsp;</FONT></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify"></P>

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<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify"><FONT STYLE="font-family: Times New Roman, Times, Serif">&nbsp;</FONT></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">(5)
That for the purpose of determining liability of the registrant under the Securities Act to any purchaser in the initial distribution
of securities, the undersigned registrant undertakes that in a primary offering of securities of the undersigned registrant pursuant
to this registration statement, regardless of the underwriting method used to sell the securities to the purchaser, if the securities
are offered or sold to such purchaser by means of any of the following communications, the undersigned registrant will be a seller to
the purchaser and will be considered to offer or sell such securities to such purchaser:</FONT></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">&nbsp;</FONT></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.75in"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">(i)
Any preliminary prospectus or prospectus of the undersigned registrant relating to the offering required to be filed pursuant to Rule
424;&nbsp;</FONT></P>

<P STYLE="text-indent: 0.25in; font: 10pt Times New Roman, Times, Serif; margin: 0pt 0"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">&nbsp;</FONT></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.75in"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">(ii)
Any free writing prospectus relating to the offering prepared by or on behalf of the undersigned registrant or used or referred to by
the undersigned registrant;</FONT></P>

<P STYLE="text-indent: 0.25in; font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">&nbsp;</FONT></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.75in"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">(iii)
The portion of any other free writing prospectus relating to the offering containing material information about the undersigned registrant
or its securities provided by or on behalf of the undersigned registrant; and</FONT></P>

<P STYLE="text-indent: 0.25in; font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">&nbsp;</FONT></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.75in"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">(iv)
Any other communication that is an offer in the offering made by the undersigned registrant to the purchaser.</FONT></P>

<P STYLE="text-indent: 0.25in; font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">&nbsp;</FONT></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.75in"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">Insofar
as indemnification for liabilities arising under the Securities Act may be permitted to directors, officers and controlling persons of
the registrant pursuant to any charter provision, by law or otherwise, the registrant has been advised that in the opinion of the Securities
and Exchange 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 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.</FONT></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">&nbsp;</FONT></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">The
undersigned registrant hereby undertakes that:</FONT></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">&nbsp;</FONT></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.75in"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">(1)
For purposes of determining any liability under the Securities Act, the information omitted from the form of prospectus filed as part
of this registration statement in reliance upon Rule 430A and contained in a form of prospectus filed by the registrant pursuant to Rule
424(b)(1) or (4) or 497(h) under the Securities Act shall be deemed to be part of this registration statement as of the time it was declared
effective.</FONT></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">&nbsp;</FONT></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.75in"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">(2)
For the purpose of determining any liability under the Securities Act, each post-effective amendment that contains a form of prospectus
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.</FONT></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">&nbsp;</FONT></P>


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<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">&nbsp;</FONT></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: center"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt"><B>SIGNATURES</B></FONT></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">&nbsp;</FONT></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">Pursuant
to the requirements of the Securities Act of 1933, the registrant has duly caused this Registration Statement to be signed on its behalf
by the undersigned, thereunto duly authorized in the City of Menlo Park, State of California, on November 27, 2024.</FONT></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">&nbsp;</FONT></P>

<TABLE CELLSPACING="0" CELLPADDING="0" STYLE="font: 10pt Times New Roman, Times, Serif; width: 100%; border-collapse: collapse">
  <TR>
    <TD><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">&nbsp;</FONT></TD>
    <TD COLSPAN="2" STYLE="text-align: justify"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt"><B>CYNGN INC.</B></FONT></TD></TR>
  <TR>
    <TD><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">&nbsp;</FONT></TD>
    <TD COLSPAN="2"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">&nbsp;</FONT></TD></TR>
  <TR>
    <TD STYLE="width: 60%"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">&nbsp;</FONT></TD>
    <TD STYLE="text-align: justify; width: 4%"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">By:</FONT></TD>
    <TD STYLE="border-bottom: Black 1.5pt solid; width: 36%"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt"><I>/s/
    Lior Tal </I></FONT></TD></TR>
  <TR>
    <TD><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">&nbsp;</FONT></TD>
    <TD><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">&nbsp;</FONT></TD>
    <TD STYLE="text-align: justify"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">Lior Tal</FONT></TD></TR>
  <TR>
    <TD><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">&nbsp;</FONT></TD>
    <TD><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">&nbsp;</FONT></TD>
    <TD><P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">Chief
        Executive Officer</FONT></P>
    <P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">(Principal
    Executive Officer)</FONT></P></TD></TR>
  </TABLE>
<P STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt; text-align: center"><FONT STYLE="font-family: Times New Roman, Times, Serif">&nbsp;</FONT></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: center"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt"><B><A NAME="cy_016"></A>POWER
OF ATTORNEY</B></FONT></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: center"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">&nbsp;</FONT></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">KNOW
ALL PERSONS BY THESE PRESENTS, that each person whose signature appears below constitutes and appoints Lior Tal and Donald Alvarez, and
each one of them, as their true and lawful attorney-in-fact, with full power of substitution and re-substitution for them and their and
in their name, place and stead, in any and all capacities to sign any and all amendments including pre- and post-effective amendments
to this registration statement, any subsequent registration statement for the same offering which may be filed pursuant to Rule 462(b)
under the Securities Act of 1933, as amended, and pre- or post-effective amendments thereto, and to file the same, with all exhibits
thereto, and other documents in connection therewith, with the Securities and Exchange Commission, hereby ratifying and confirming all
that said attorney-in-fact or his substitute, each acting alone, may lawfully do or cause to be done by virtue thereof.</FONT></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">&nbsp;</FONT></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">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 dates indicated.</FONT></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">&nbsp;</FONT></P>

<TABLE CELLSPACING="0" CELLPADDING="0" STYLE="font: 10pt Times New Roman, Times, Serif; width: 100%; border-collapse: collapse">
  <TR>
    <TD STYLE="border-bottom: Black 1.5pt solid; width: 33%"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt"><B>Name</B></FONT></TD>
    <TD STYLE="padding-bottom: 1.5pt; width: 1%"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">&nbsp;</FONT></TD>
    <TD STYLE="border-bottom: Black 1.5pt solid; text-align: center"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt"><B>Position</B></FONT></TD>
    <TD STYLE="padding-bottom: 1.5pt; width: 1%"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">&nbsp;</FONT></TD>
    <TD STYLE="border-bottom: Black 1.5pt solid; text-align: center; width: 18%"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt"><B>Date</B></FONT></TD></TR>
  <TR>
    <TD><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">&nbsp;</FONT></TD>
    <TD><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">&nbsp;</FONT></TD>
    <TD STYLE="text-align: justify"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">&nbsp;</FONT></TD>
    <TD><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">&nbsp;</FONT></TD>
    <TD STYLE="text-align: center"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">&nbsp;</FONT></TD></TR>
  <TR>
    <TD STYLE="border-bottom: Black 1.5pt solid"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt"><I>/s/ Lior
    Tal </I></FONT></TD>
    <TD STYLE="padding-bottom: 1pt"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">&nbsp;</FONT></TD>
    <TD STYLE="padding-bottom: 1pt"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">Chief Executive Officer,
    Chairman and Director</FONT></TD>
    <TD STYLE="padding-bottom: 1pt"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">&nbsp;</FONT></TD>
    <TD STYLE="padding-bottom: 1pt; text-align: center"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">November
    27, 2024</FONT></TD></TR>
  <TR>
    <TD><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">Lior Tal</FONT></TD>
    <TD><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">&nbsp;</FONT></TD>
    <TD><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">(Principal Executive Officer)</FONT></TD>
    <TD><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">&nbsp;</FONT></TD>
    <TD STYLE="text-align: center"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">&nbsp;</FONT></TD></TR>
  <TR>
    <TD><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">&nbsp;</FONT></TD>
    <TD><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">&nbsp;</FONT></TD>
    <TD STYLE="text-align: justify"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">&nbsp;</FONT></TD>
    <TD><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">&nbsp;</FONT></TD>
    <TD STYLE="text-align: center"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">&nbsp;</FONT></TD></TR>
  <TR>
    <TD STYLE="border-bottom: Black 1.5pt solid"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt"><I>/s/ Donald
    Alvarez </I></FONT></TD>
    <TD STYLE="padding-bottom: 1pt"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">&nbsp;</FONT></TD>
    <TD STYLE="padding-bottom: 1pt; text-align: justify"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">Chief
    Financial Officer</FONT></TD>
    <TD STYLE="padding-bottom: 1pt"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">&nbsp;</FONT></TD>
    <TD STYLE="padding-bottom: 1pt; text-align: center"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">November
    27, 2024</FONT></TD></TR>
  <TR>
    <TD><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">Donald Alvarez</FONT></TD>
    <TD><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">&nbsp;</FONT></TD>
    <TD><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">(Principal Financial and Accounting Officer)</FONT></TD>
    <TD><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">&nbsp;</FONT></TD>
    <TD STYLE="text-align: center"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">&nbsp;</FONT></TD></TR>
  <TR>
    <TD><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">&nbsp;</FONT></TD>
    <TD><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">&nbsp;</FONT></TD>
    <TD STYLE="text-align: justify"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">&nbsp;</FONT></TD>
    <TD><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">&nbsp;</FONT></TD>
    <TD STYLE="text-align: center"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">&nbsp;</FONT></TD></TR>
  <TR>
    <TD STYLE="border-bottom: Black 1.5pt solid"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt"><I>/s/ Karen
    Macleod </I></FONT></TD>
    <TD STYLE="padding-bottom: 1pt"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">&nbsp;</FONT></TD>
    <TD STYLE="padding-bottom: 1pt; text-align: justify"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">Director</FONT></TD>
    <TD STYLE="padding-bottom: 1pt"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">&nbsp;</FONT></TD>
    <TD STYLE="padding-bottom: 1pt; text-align: center"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">November
    27, 2024</FONT></TD></TR>
  <TR>
    <TD><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">Karen Macleod</FONT></TD>
    <TD><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">&nbsp;</FONT></TD>
    <TD STYLE="text-align: justify"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">&nbsp;</FONT></TD>
    <TD><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">&nbsp;</FONT></TD>
    <TD STYLE="text-align: center"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">&nbsp;</FONT></TD></TR>
  <TR>
    <TD><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">&nbsp;</FONT></TD>
    <TD><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">&nbsp;</FONT></TD>
    <TD STYLE="text-align: justify"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">&nbsp;</FONT></TD>
    <TD><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">&nbsp;</FONT></TD>
    <TD STYLE="text-align: center"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">&nbsp;</FONT></TD></TR>
  <TR>
    <TD STYLE="border-bottom: Black 1.5pt solid"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt"><I>/s/ Colleen
    Cunningham </I></FONT></TD>
    <TD STYLE="padding-bottom: 1pt"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">&nbsp;</FONT></TD>
    <TD STYLE="padding-bottom: 1pt; text-align: justify"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">Director</FONT></TD>
    <TD STYLE="padding-bottom: 1pt"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">&nbsp;</FONT></TD>
    <TD STYLE="padding-bottom: 1pt; text-align: center"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">November
    27, 2024</FONT></TD></TR>
  <TR>
    <TD><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">Colleen Cunningham</FONT></TD>
    <TD><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">&nbsp;</FONT></TD>
    <TD STYLE="text-align: justify"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">&nbsp;</FONT></TD>
    <TD><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">&nbsp;</FONT></TD>
    <TD STYLE="text-align: center"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">&nbsp;</FONT></TD></TR>
  <TR>
    <TD><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">&nbsp;</FONT></TD>
    <TD><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">&nbsp;</FONT></TD>
    <TD STYLE="text-align: justify"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">&nbsp;</FONT></TD>
    <TD><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">&nbsp;</FONT></TD>
    <TD STYLE="text-align: center"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">&nbsp;</FONT></TD></TR>
  <TR>
    <TD STYLE="border-bottom: Black 1.5pt solid"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt"><I>/s/ James
    McDonnell </I></FONT></TD>
    <TD STYLE="padding-bottom: 1pt"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">&nbsp;</FONT></TD>
    <TD STYLE="padding-bottom: 1pt; text-align: justify"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">Director</FONT></TD>
    <TD STYLE="padding-bottom: 1pt"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">&nbsp;</FONT></TD>
    <TD STYLE="padding-bottom: 1pt; text-align: center"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">November
    27, 2024</FONT></TD></TR>
  <TR>
    <TD><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">James McDonnell</FONT></TD>
    <TD><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">&nbsp;</FONT></TD>
    <TD STYLE="text-align: justify"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">&nbsp;</FONT></TD>
    <TD><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">&nbsp;</FONT></TD>
    <TD STYLE="text-align: center"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">&nbsp;</FONT></TD></TR>
  </TABLE>
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{"company-data": {"conformed-name": "Cyngn Inc.", "cik": "0001874097", "assigned-sic": "7371", "organization-name": "06 Technology", "irs-number": "462007094", "state-of-incorporation": "DE", "fiscal-year-end": "1231"}, "filing-values": {"form-type": "S-1", "act": "33", "file-number": "333-283514", "film-number": "241511679"}, "business-address": {"street1": "1015 O'BRIEN DRIVE", "city": "MENLO PARK", "state": "CA", "zip": "94025", "phone": "650-924-5905"}, "mail-address": {"street1": "1015 O'BRIEN DRIVE", "city": "MENLO PARK", "state": "CA", "zip": "94025"}, "former-company": {"former-conformed-name": "Cyngn, Inc.", "date-changed": "20210721"}}
Registration
No. 333-
UNITED
STATES
SECURITIES
AND EXCHANGE COMMISSION
Washington,
D.C. 20549
FORM
S-1
REGISTRATION
STATEMENT UNDER THE SECURITIES ACT OF 1933
CYNGN,
INC.
(Exact
name of registrant as specified in its charter)
Delaware
7371
46-2007094
(State or Other Jurisdiction
    of
Incorporation or Organization)
(Primary Standard Industrial
Classification Code Number)
(I.R.S. Employer
Identification No.)
1015
O'Brien Dr.
Menlo
Park, CA 94025
(650)
924-5905
(Address,
including zip code, and telephone number, including area code, of registrant's principal executive offices)
Lior
Tal
Chief
Executive Officer
Cyngn
Inc.
1015
O'Brien Dr.
Menlo
Park, CA 94025
(650)
924-9505
(Name,
address, including zip code, and telephone number, including area code, of agent for service)
Copies
to
:
Gregory
                                            Sichenzia, Esq.
Marcelle
    S. Balcombe, Esq.
Sichenzia
    Ross Ference Carmel LLP
1185
    Avenue of the Americas, 31
st
Floor
New
    York, NY 10036
Telephone:
    (212) 930-9700
Anthony
                                            W. Basch, Esq.
Alexander
    W. Powell, Esq.
Benming
    Zhang, Esq.
Kaufman
    & Canoles, P.C.
1021
    E. Cary St.
Richmond,
    Virginia 23219
Tel:
    (804) 771-5700
Approximate
date of commencement of proposed sale to the public:
As soon as practicable after the effective date of this Registration Statement.
If
any of the securities being registered on this Form are to be offered on a delayed or continuous basis pursuant to Rule 415 under the
Securities Act of 1933 check the following box. ☒
If
this Form is filed to register additional securities for an offering pursuant to Rule 462(b) under the Securities Act, please check the
following box and list the Securities Act registration statement number of the earlier effective registration statement for the same
offering. ☐
If
this Form is a post-effective amendment filed pursuant to Rule 462(c) under the Securities Act, check the following box and list the
Securities Act registration statement number of the earlier effective registration statement for the same offering. ☐
If
this Form is a post-effective amendment filed pursuant to Rule 462(d) under the Securities Act, check the following box and list the
Securities Act registration statement number of the earlier effective registration statement for the same offering. ☐
Indicate
by check mark whether the registrant is a large accelerated filer, an accelerated filer, a non-accelerated filer, or a smaller reporting
company. See the definitions of "large accelerated filer," "accelerated filer" and "smaller reporting company"
in Rule 12b-2 of the Exchange Act.
Large accelerated filer
    ☐
Accelerated filer ☐
Non-accelerated filer ☒
Smaller reporting company
    ☒
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 to Section 7(a)(2)(B) of the Securities Act. ☐
The
Registrant hereby amends this Registration Statement on such date or dates as may be necessary to delay its effective date until the
Registrant shall file a further amendment which specifically states that this Registration Statement shall thereafter become effective
in accordance with Section 8(a) of the Securities Act of 1933 or until the Registration Statement shall become effective on such date
as the Commission acting pursuant to said Section 8(a), may determine.
THE
INFORMATION IN THIS PRELIMINARY PROSPECTUS IS NOT COMPLETE AND MAY BE CHANGED. THESE SECURITIES MAY NOT BE SOLD UNTIL THE REGISTRATION
STATEMENT FILED WITH THE SECURITIES AND EXCHANGE COMMISSION IS DECLARED EFFECTIVE. THIS PRELIMINARY PROSPECTUS IS NOT AN OFFER TO SELL
THESE SECURITIES AND WE ARE NOT SOLICITING AN OFFER TO BUY THESE SECURITIES IN ANY STATE OR OTHER JURISDICTION WHERE THE OFFER OR SALE
IS NOT PERMITTED.
PRELIMINARY
    PROSPECTUS
SUBJECT TO
    COMPLETION
DATED NOVEMBER
    27, 2024
PRELIMINARY
PROSPECTUS
Up
to 3,062,787 Units, with each Unit consisting of:
One
Share of Common Stock
One
Series A Warrant to Purchase One Share of Common Stock
One
Series B Warrant to Purchase One Share of Common Stock
Up
to 3,062,787 Pre-Funded Units, with each Pre-Funded Unit consisting of:
One
Pre-Funded Warrant to Purchase One Share of Common Stock
One
Series A Warrant to Purchase One Share of Common Stock
One
Series B Warrant to Purchase one Share of Common Stock
Up
to 3,062,787 Shares of Common Stock Underlying the Pre-Funded Warrants
Up
to Shares of Common Stock Underlying the Series A Warrants
Up
to Shares of Common Stock Underlying the Series B Warrants
Cyngn
                                            Inc. (the "Company," "Cyngn," the "registrant," "we,"
                                            "our" or "us") is offering up to 3,062,787 units (the "Units"),
                                            each Unit consisting of: (i) one share of common stock; and (ii) one Series A Warrant to
                                            purchase one share of common stock (the "Series A Warrants"); and (iii) one Series
                                            B Warrant to purchase one share of common stock (the "Series B Warrants," together
                                            with the Series A Warrants, the "Warrants"). Each Series A Warrant is exercisable
                                            at an exercise price of $8.16 per share (125% of the assumed public offering price per Unit),
                                            subject to certain anti-dilution and share combination event protections, and each Series
                                            B Warrant is exercisable at an exercise price of $8.16 per share (125% of the assumed public
                                            offering price per Unit) subject to certain share combination event protections. The Series
                                            A Warrants will be exercisable commencing upon our receipt of the Warrant Stockholder Approval
                                            (described below) and will expire five years after the date of the Warrant Stockholder Approval
                                            and the Series B Warrants will be exercisable commencing upon our receipt of the Warrant
                                            Stockholder Approval and will expire two and one-half years from the date of Warrant Stockholder
                                            Approval. See "Description of Securities." We are offering each Unit at an assumed
                                            public offering price of $6.53 per Unit, equal to the closing price of our common stock on
                                            The Nasdaq Capital Market on November 21, 2024.
Under
the alternate cashless exercise option of the Series B Warrants, a holder of the Series B Warrant has the right to receive an aggregate
number of shares equal to the product of (x) the aggregate number of shares of common stock that would be issuable upon a cashless exercise
of the Series B Warrant and (y) three. In addition, the Series A Warrants and Series B Warrants will contain a reset of the exercise
price to a price equal to the lesser of (i) the then exercise price and (ii) lowest volume weighted average price ("VWAP")
during the period commencing five trading days immediately preceding and the five trading days commencing on the date we effect a reverse
stock split in the future with a proportionate adjustment to the number of shares underlying the Series A Warrants and Series B Warrants,
among other adjustments. Additionally, the Series A Warrants will provide for an adjustment to the exercise price and number of shares
underlying the Series A Warrants upon our issuance of our common stock or common stock equivalents at a price per share that is less
than the exercise price of the Series A Warrant, subject to certain exceptions.
Finally,
on the 11th trading day after the Warrant Stockholder Approval Date (the "Reset Date"), the exercise price of the Warrants
will be reset to a price equal to the lower of (i) the exercise price then in effect and (ii) the greater of (a) the lowest daily volume
weighted average price ("VWAP") during the period commencing on the first trading day after the Warrant Stockholder Approval
Date and ending following the close of trading on the 10th trading day thereafter (the "Reset Period"), and (b) the floor
price set forth in the Warrants, and the number of shares issuable upon exercise will be increased such that the aggregate exercise price
of the Warrants on the issuance date for the shares of common stock underlying the Warrants then outstanding shall remain unchanged.
Any
reduction to the exercise prices of the Series A Warrants and the Series B Warrants and resulting increase in the shares of common stock
underlying the Warrants will be subject to a floor price. Prior to the Warrant Stockholder Approval Date, the floor Price shall be equal
to 50% of the Nasdaq Minimum Price at the pricing of this offering and after the Warrant Stockholder Approval date, the floor Price shall
be 20% of the Nasdaq minimum Price.
The
Warrants will be exercisable only upon receipt of such stockholder approval as may be required by the applicable rules and regulations
of the Nasdaq Stock Market to permit the exercise of the Warrants (the "Warrant Stockholder Approval"). In the event that
we are unable to obtain the Warrant Stockholder Approval, the Warrants will not be exercisable and therefore the Warrants may have substantially
less value.
We
are also offering the opportunity to purchase, if the purchaser so chooses and in lieu of Units, up to 3,062,787 pre-funded units
(the "Pre-Funded Units") to purchasers whose purchase of Units in this offering would otherwise result in the purchaser,
together with its affiliates and certain related parties, beneficially owning more than 4.99% (or, at the election of the purchaser,
9.99%) of our outstanding common stock immediately following the consummation of this offering. Each Pre-Funded Unit consists of: (i)
one pre-funded warrant exercisable for one share of common stock (the "Pre-Funded Warrants"); (ii) one Series A Warrant;
and (iii) one Series B Warrant. The purchase price of each Pre-Funded Unit is equal to the price per Unit being sold to the public in
this offering, minus $0.0001, and the exercise price of each Pre-Funded Warrant included in the Pre-Funded Unit is $0.0001 per share.
The Pre-Funded Warrants will be immediately exercisable and may be exercised at any time until all of the Pre-Funded Warrants are exercised
in full.
The
common stock and Pre-Funded Warrants, and the accompanying Warrants, as the case may be, can only be purchased together in this offering
but will be issued separately and will be immediately separable upon issuance. Pursuant to the registration statement related to this
prospectus, we are also registering the shares of common stock issuable upon exercise of the Warrants and Pre-Funded Warrants included
in the Units and Pre-Funded Units offered hereby.
Our
                                            common stock is listed on The Nasdaq Capital Market under the symbol "CYN." The
                                            last reported sale price of our common stock on The Nasdaq Capital Market on November 26,
                                            2024 was $6.39 per share. There is no established trading market for the Units, Pre-Funded
                                            Units, Warrants or Pre-Funded Warrants and we do not intend to list the Units, Pre-Funded
                                            Units, Warrants or Pre-Funded Warrants on any securities exchange or nationally recognized
                                            trading system.
We
have engaged Aegis Capital Corp. to act as our exclusive placement agent in connection with this offering. The placement agent has agreed
to use its best efforts to arrange for the sale of the securities offered by this prospectus. The placement agent is not purchasing or
selling any of the securities we are offering and the placement agent is not required to arrange the purchase or sale of any specific
number or dollar amount of securities. We have agreed to pay to the placement agent the placement agent fees set forth in the table below,
which assumes that we sell all of the securities offered by this prospectus. There is no arrangement for funds to be received in escrow,
trust or similar arrangement. There is no minimum offering requirement as a condition of closing of this offering. Because there is no
minimum offering amount required as a condition to closing this offering, we may sell fewer than all of the securities offered hereby,
which may significantly reduce the amount of proceeds received by us, and investors in this offering will not receive a refund in the
event that we do not sell an amount of securities sufficient to pursue our business goals described in this prospectus. See "
Risk
Factors
" at page 9. We will bear all costs associated with the offering. See "
Plan of Distribution
" on page
24 of this prospectus for more information regarding these arrangements.
The
public offering price for the securities in this offering will be determined at the time of pricing and may be at a discount to the current
market price at the time. Therefore, the assumed public offering price used throughout this prospectus may not be indicative of the final
offering price. The final public offering price will be determined through negotiation between us, the placement agent and the investors
based upon a number of factors, including our history and our prospects, the industry in which we operate, our past and present operating
results, the previous experience of our executive officers and the general condition of the securities markets at the time of this offering.
We
intend to use the proceeds from this offering for general corporate purposes, including working capital and investments. See "
Use
of Proceeds
."
Investing
in the Securities involves a high degree of risk. See "
Risk Factors
" beginning on page 9 of this prospectus for a
discussion of information that should be considered in connection with an investment in our common stock.
Neither
the Securities and Exchange Commission ("SEC") nor any state securities commission has approved or disapproved of these securities
or determined if this prospectus is truthful or complete. Any representation to the contrary is a criminal offense.
We
are an "emerging growth company" as that term is used in the Jumpstart Our Business Startups Act of 2012, and we have elected
to comply with certain reduced public company reporting requirements.
Per
    Unit
Per
    Pre-
Funded
Unit
Total
Public offering price
$
$
$
Placement agent fees
(1)
$
$
$
Proceeds, before expenses, to us
(2)
$
$
$
(1)
Represents
                                            a cash fee equal to 7% of the aggregate purchase price paid by investors in this offering.
                                            We have also agreed to pay a non-accountable expense of 1% and to reimburse the placement
                                            agent for the fees and disbursements of its legal counsel in an amount of $100,000. See "
Plan
                                            of Distribution
" beginning on page 24 of this prospectus for a description of the
                                            compensation to be received by the placement agent.
(2)
The
                                            amount of offering proceeds to us presented in this table does not give effect to any exercise
                                            of the Warrants or Pre-Funded Warrants.
The
delivery to purchasers of securities in this offering is expected to be made on or about                 ,
2024, subject to satisfaction of certain customary closing conditions.
Sole
Placement Agent
Aegis
Capital Corp.
The
date of this prospectus is                     
, 2024
TABLE
OF CONTENTS
ABOUT
    THIS PROSPECTUS
ii
PROSPECTUS
    SUMMARY
1
THE
    OFFERING
7
RISK
    FACTORS
9
SPECIAL
    NOTE REGARDING FORWARD-LOOKING STATEMENTS
14
USE
    OF PROCEEDS
15
DIVIDEND
    POLICY
16
CAPITALIZATION
17
DILUTION
18
DESCRIPTION
    OF SECURITIES
19
PLAN
    OF DISTRIBUTION
24
EXPERTS
27
LEGAL
    MATTERS
27
INFORMATION
    INCORPORATED BY REFERENCE
27
WHERE
    YOU CAN FIND MORE INFORMATION
28
You
should rely only on the information contained in this prospectus or any prospectus supplement or amendment or incorporated by reference.
Neither we, nor the placement agent, have authorized any other person to provide you with information that is different from, or adds
to, that contained in this prospectus. If anyone provides you with different or inconsistent information, you should not rely on it.
Neither we nor the placement agent take responsibility for, and can provide no assurance as to the reliability of, any other information
that others may give you. You should assume that the information contained in this prospectus or any free writing prospectus is accurate
only as of the date of this prospectus, regardless of the time of delivery of this prospectus or of any sale of our securities. Our business,
financial condition, results of operations and prospects may have changed since that date. We are not making an offer of any securities
in any jurisdiction in which such offer is unlawful.
No
action is being taken in any jurisdiction outside the United States to permit a public offering of our securities or possession or distribution
of this prospectus in that jurisdiction. Persons who come into possession of this prospectus in jurisdictions outside the United States
are required to inform themselves about and to observe any restrictions as to this public offering and the distribution of this prospectus
applicable to that jurisdiction.
i
ABOUT
THIS PROSPECTUS
We
incorporate by reference important information into this prospectus. You may obtain the information incorporated by reference without
charge by following the instructions under "Where You Can Find More Information." You should carefully read this prospectus
as well as additional information described under "Information Incorporated By Reference," before deciding to invest in our
securities.
Neither
we nor Aegis have authorized anyone to provide you with information different from or inconsistent with the information contained in
or incorporated by reference in this prospectus. We take no responsibility for, and can provide no assurance as to the reliability of,
any other information that others may give you. You should assume that the information appearing in this prospectus and the documents
incorporated by reference in this prospectus is accurate only as of the date of those respective documents, regardless of the time of
delivery of those respective documents. Our business, financial condition, results of operations and prospects may have changed since
those dates.
The
information incorporated by reference or provided in this prospectus contains statistical data and estimates, including those relating
to market size and competitive position of the markets in which we participate, that we obtained from our own internal estimates and
research, as well as from industry and general publications and research, surveys and studies conducted by third parties. Industry publications,
studies and surveys generally state that they have been obtained from sources believed to be reliable. While we believe our internal
company research is reliable and the definitions of our market and industry are appropriate, neither this research nor these definitions
have been verified by any independent source.
We
further note that the representations, warranties and covenants made by us in any agreement that is filed as an exhibit to any document
that is incorporated by reference into this prospectus were made solely for the benefit of the parties to such agreement, including,
in some cases, for the purpose of allocating risk among the parties to such agreement, and should not be deemed to be a representation,
warranty or covenant to you. Moreover, such representations, warranties or covenants were accurate only as of the date when made. Accordingly,
such representations, warranties and covenants should not be relied on as accurately representing the current state of our affairs.
We
are offering to sell, and seeking offers to buy, shares of our common stock only in jurisdictions where offers and sales are permitted.
The distribution of this prospectus and the offering of our common stock in certain jurisdictions may be restricted by law. Persons outside
the United States who come into possession of this prospectus must inform themselves about, and observe any restrictions relating to,
the offering of our common stock and the distribution of this prospectus outside the United States. This prospectus does not constitute,
and may not be used in connection with, an offer to sell, or a solicitation of an offer to buy, any securities offered by this prospectus
by any person in any jurisdiction in which it is unlawful for such person to make such an offer or solicitation.
CYNGN
Inc. and its consolidated subsidiaries are referred to herein as "Cyngn," "the Company," "we," "us"
and "our," unless the context indicates otherwise.
This
prospectus contains, or incorporates by reference, trademarks, tradenames, service marks and service names of CYNGN Inc. and its subsidiaries.
ii
PROSPECTUS
SUMMARY
This
summary highlights selected information included elsewhere in or incorporated by reference in this prospectus and does not contain all
the information that you should consider before investing in our securities. You should read the entire prospectus carefully, especially
"Risk Factors" and the financial statements and related notes and other information incorporated by reference into this prospectus,
before deciding whether to participate in the offering described in this prospectus.
Overview
We
are an autonomous vehicle ("AV") technology company that is focused on addressing industrial uses for autonomous vehicles.
We believe that technological innovation is needed to enable adoption of autonomous industrial vehicles that will address the substantial
industry challenges that exist today. These challenges include labor shortages, high labor costs and work safety.
We
integrate our full-stack autonomous driving software, DriveMod, onto vehicles manufactured by Original Equipment Manufacturers ("OEM")
either via retrofit of existing vehicles or by integration directly into vehicle assembly. We design the Enterprise Autonomy Suite ("EAS")
to be compatible with sensors and components from leading hardware technology providers and integrate our proprietary AV software to
produce differentiated autonomous vehicles.
Autonomous
driving has common technological building blocks that remain similar across vehicles and applications. By tapping into these building
blocks, DriveMod is designed to deliver autonomy to new vehicles via streamlined hardware/software integration. This vehicle-agnostic
approach enables DriveMod to expand to new vehicles and novel operational design domains ("ODD"). In short, nearly every
industrial vehicle, regardless of use case, can move autonomously using our technology.
Our
approach accomplishes several primary value propositions:
1.
Provide autonomous capabilities
    to industrial vehicles built by established manufacturers that are already trusted by customers.
2.
Generate continual customer
    value by leveraging the synergistic relationship of autonomous vehicles and data.
3.
Develop consistent autonomous
    vehicle operation and user interfaces for diverse vehicle fleets.
4.
Complement the core competencies
    of existing industry players by introducing the leading-edge technologies like Artificial Intelligence ("AI") and Machine
    Learning ("ML"), cloud/connectivity, sensor fusion, high-definition mapping, and real-time dynamic path planning and
    decision making.
We
believe our market positioning as a technology partner to vehicle manufacturers creates a synergy with incumbent suppliers that already
have established sales, distribution, and service/maintenance channels. By focusing on industrial use cases and partnering with the incumbent
OEMs in these markets, we believe we can source and execute revenue-generating opportunities more quickly.
Our
long-term vision is for EAS to become a universal autonomous driving solution with minimal marginal cost for companies to adopt new vehicles
and expand their autonomous fleets across new deployments. We have already deployed DriveMod software on more than ten different vehicle
form factors that range from stockchasers and stand-on floor scrubbers to 14-seat shuttles and electric forklifts as part of prototypes
and proof of concept projects, demonstrating the extensibility of our AV building blocks.
1
Our
recent progress contributes to the validation of EAS with OEM partners and end customers. We also continue to build upon our ability
to scale our products and generate novel technological developments. The DriveMod Stockchaser became commercially available in early
2023 starting with the deployment from our partner-customer US Continental, a California-based leading manufacturer of quality leather
and fabric care products. We also launched the DriveMod Forklift and the DriveMod Tugger as we expand our vehicle-type portfolio fleet
through our OEM partnership with BYD and Motrec, respectively.
We
secured paid projects with leading global customers like Arauco, along with additional projects from big brands in the Global 500 and
the Fortune 100. Our patent portfolio expanded with 16 new U.S. patent grants in 2023 and 2 granted in 2024, bringing the total grants
to 21.
We
intend to continue to pursue and win additional license agreements with companies that depend heavily on the use of material handling
vehicles and that all recognize the need for automation to i) compete in todays economy, ii) combat the significant labor shortages and
escalating costs, and iii) improve safety. Our approach to securing these opportunities will be a continued direct sales effort coupled
with increasing our network of industrial vehicle dealers that already have significant sales of industrial vehicles.
Our
Products
EAS
is a suite of technology and tools that consists of three complementary categories: DriveMod, Cyngn Insight, and Cyngn Evolve.
DriveMod:
Industrial Autonomous Vehicle System
We
built DriveMod as a modular software product that is compatible with various sensor and computer hardware components that are widely
used throughout the autonomous vehicle industry. Our software combined with sensors and components from industry leading technology providers
covers the end-to-end requirements that enable vehicles to operate autonomously with leading-edge technology. The modularity of DriveMod
allows our AV technology to be compatible across vehicle platforms as well as indoor and outdoor environments. DriveMod can be retrofitted
to existing vehicle assets or integrated into a manufacturing partner's vehicles at assembly, providing accessible options for
our customers to integrate leading-edge technology whether their AV adoption strategies are evolutionary or revolutionary.
2
The
core vehicle-agnostic DriveMod software stack is targeted and deployed to different vehicles through
DriveMod Kits
, which are
the AV hardware systems that take into account the specific needs of operating the DriveMod software on a specific target vehicle. Then,
after prototyping and productization, DriveMod kits streamline the integration AV hardware and software integration onto vehicles at
scale. The DriveMod Kit for Columbia Stockchasers is commercially released and available at scale. Subsequently, we expect to create
different instances of DriveMod Kits to support the commercial release of new vehicles on the EAS platform, such as the electric forklifts
and other industrial vehicles.
Figure
1: Overview of Cyngn's autonomous vehicle technology (DriveMod)
DriveMod's
flexibility combines with our network of manufacturing and service partners to support customers at different stages of autonomous technology
integration. This allows customers to grow the complexity and scope of their industrial autonomy deployments as their business transforms
while continually capturing returns throughout their transition to full autonomy. EAS will also grant customers access to over-the-air
software upgrades, ad hoc customer support, and flexible consumption based on usage and scale of operations. By lessening both the commercial
and technical burdens of traditional vehicle automation and industrial robotics investments, industrial AVs can become universally available
to the market, even reaching small and medium-sized businesses that may otherwise struggle to adopt Industry 4.0 and 5.0 technology.
Cyngn
Insight: Intelligent Control Center
Cyngn
Insight is the customer-facing tool suite for managing AV fleets and aggregating data to extract business insights. Analytics dashboards
surface data about the system's status, vehicle telemetry, and performance metrics. Cyngn Insight also provides tools to switch
between autonomous, manual, and remote operation when required. This flexibility allows customers to use the autonomous capabilities
of the system in a way that is tailored to their own operational environment. Customers can choose when to operate their DriveMod-powered
vehicles autonomously and when to have human operators operate the vehicles manually or remotely based on their own business needs. When
combined, these capabilities and tools make up the Cyngn Insight intelligent control center that enables flexible fleet management from
any location.
3
Cyngn
Insight's tool suite includes configurable cloud dashboards that aggregate diverse data streams at several levels of granularity
(i.e., site, fleet, vehicle, module, and component). We can collect data during "open loop" vehicle operation, meaning that
the vehicles can be operated manually while still collecting the rich data enabled by the advanced on-vehicle sensors and computers.
Data can be used for predictive maintenance, operational improvements, educating employees on digital transformation and more.
Cyngn
Evolve: Data Optimization Tools
Cyngn
Evolve is our internal tool suite that underpins the relationship between AVs and data. Through a unifying cloud-based data infrastructure,
our proprietary data tools strengthen the positive network effects derived from the valuable new data created by AVs. Cyngn Evolve and
its data pipelines facilitate AI/ML training and deployment, manage data sets, and support driving simulation and grading to test and
validate new DriveMod releases, using both real-world and simulated data.
Figure
2: The Cyngn "AnyDrive" simulation is part of the Cyngn Evolve toolchain. The simulation environment creates a digital version
of the physical world. This allows for customer data sets to be leveraged and augmented to achieve testing and validation prior to releasing
new AV features.
As
AV technology expertise matures globally, there may be opportunities to monetize the sophisticated AV-centric tools of Cyngn Evolve.
Currently, we believe that AV development is confined to small groups of experts. Therefore, Cyngn Evolve is currently an internal EAS
tool that we use to advance DriveMod and Cyngn Insight, our customer-facing EAS products.
4
Intellectual
Property Portfolio
Our
ability to drive impact and growth within the autonomous industrial vehicle market largely depends on our ability to obtain, maintain,
and protect our intellectual property and all other property rights related to our products and technology. To accomplish this, we utilize
a combination of patents, trademarks, copyrights, and trade secrets as well as employee and third-party non-disclosure agreements, licenses,
and other contractual obligations. In addition to protecting our intellectual property and other assets, our success also depends on
our ability to develop our technology and operate without infringing, misappropriating, or otherwise violating the intellectual property
and property rights of third parties, customers, and partners.
Our
software stack has over 30 subsystems, including those designed for perception, mapping & localization, decision making, planning,
and control. As of the date of this prospectus, we have 21 granted U.S. patents and submitted 4 pending U.S. patent and expect to continue
to file additional patent applications with respect to our technology in the future.
Recent
Developments
Public
Offering
On
April 23, 2024, the Company entered into an underwritten Agreement with Aegis Capital Corp. ("Aegis"), pursuant to which
Aegis acted as the Company's underwriter on a firm commitment basis in connection with the sale by the Company of an aggregate
of 500,000 shares of common stock in a public offering, which included: (i) 198,000 shares of common stock, and (ii) pre-funded
warrants to purchase 302,000 shares of common stock. The Pre-Funded Warrants had a nominal exercise price of $0.00001. Each share
of common stock was sold at an offering price of $0.10, and each Pre-Funded Warrant was sold at an offering price of $0.09999. On May
3, 2024, the Company closed on the sale of an additional 20,400 shares of common stock, upon exercise by the underwriter of the over-allotment
option. The Company received gross proceeds of approximately $5.2 million before deducting transaction related expenses payable by the
Company.
Amended
Bylaws
On
May 7, 2024, we amended our Amended and Restated Bylaws (the "Amended Bylaws"), for the purpose of reducing the quorum required
to hold meetings of the stockholders of the Company (the "Quorum Requirement"). The Amended Bylaws reduced the Quorum Requirement
from a majority to one-third (1/3rd) of the voting power of the shares of stock issued and outstanding and entitled to vote at the meeting.
The Amended Bylaws was approved by the Board of Directors of the Company on May 7, 2024.
Reverse
Stock Split
At
the Annual Meeting of Stockholders on June 25, 2024, the stockholders of the Company approved the grant of discretionary authority to
the board of directors of the Company to effect a reverse stock split of its outstanding shares of common stock at a specific ratio within
a range of one-for-five (1-for-5) to a maximum of a one-for-one hundred (1-for-100) split. On July 3, 2024, we implemented a 1-for-100
reverse stock split (the "Reverse Stock Split") of our common stock. As a result of the Reverse Stock Split, every one hundred
(100) shares of our pre-Reverse Stock Split common stock were combined and reclassified into one share of our common stock. The number
of shares of common stock subject to outstanding options and warrants were also reduced by a factor of one hundred and the exercise price
of such securities increased by a factor of one hundred effective as of July 3, 2024. Our common stock commenced trading on a post- reverse
stock split basis on July 5, 2024.
NASDAQ
Compliance
On
July 19, 2024, the Company was notified by Nasdaq that the Company has regained compliance with the bid price requirement as set forth
in Listing Rule 5550(a)(2), and that the Company is therefore in compliance with the Nasdaq Capital Market's listing requirements
and will remain listed on Nasdaq.
5
Private
Placement
On
November 12, 2024, the Company entered into a Securities Purchase Agreement (the "SPA") with certain investors (the "Purchasers")
pursuant to which we sold, in a private placement (the "Private Placement"), senior notes with an aggregate principal amount
of $4,375,000 (the "Notes"), and received proceeds before expenses of $3,500,000. As consideration for entering into the
SPA, we issued a total of 405,125 shares of common stock of the Company to the Purchasers on November 13, 2024.
In connection with the Purchase
Agreement, the Company entered into a registration rights agreement with the Purchasers (the "Registration Rights Agreement").
Pursuant to the Registration Rights Agreement, we are required to file a resale registration statement, or the Registration Statement,
with the SEC to register for resale the 405,125 shares of common stock by November 28, 2024, and to have such Registration Statement declared
effective within thirty days of filing (sixty days in the event the Registration Statement is reviewed by the SEC). We will be obligated
to pay liquidated damages to the Purchasers if we fail to file the resale registration statement when required, fail to request effectiveness
within five trading days after being notified that the Registration Statement will not be reviewed or not subject to further review, fail
to respond to comments to the Registration statement within ten calendar days, fail to cause the Registration Statement to be declared
effective by the SEC when required, fail to maintain the effectiveness of the Registration Statement, or if the Registration Statement
ceases to remain effective. On November 25, 2024, the Company filed a registration statement to satisfy its obligations under the Registration
Rights Agreement.
Cost
Reduction
On
November 12, 2024, the Company announced it is implementing a cost reduction plan in order to reduce its average monthly cash burn
from approximately $1.8 million per month to approximately $1 million per month for 90 days. This includes reducing staff from approximately
80 people to approximately 60 people, temporarily suspending certain non-essential operations and reducing or eliminating all discretionary
expenses.
Our
Corporate Information
The
Company was originally incorporated in the State of Delaware on February 1, 2013, under the name Cyanogen, Inc. or Cyanogen. The Company
started as a venture funded company with offices in Seattle and Palo Alto, aimed at commercializing CyanogenMod, direct to consumer and
through collaborations with mobile phone manufacturers. CyanogenMod was an open-source operating system for mobile devices, based
on the Android mobile platform. Cyanogen released multiple versions of its mobile operating system and collaborated with an ecosystem
of companies including mobile phone OEMs, content providers and leading technology partners from 2013 to 2015.
In
2016 the Company's management and board of directors, determined to pivot its product focus and commercial direction from the mobile
device and telecom space to industrial and commercial autonomous driving with the hiring of Lior Tal in June 2016 to serve as the company's
chief operating officer. Mr. Tal, a seasoned executive of startup firms where prior to joining the company, co-founded Snaptu which later
was acquired by Facebook (currently known as Meta Platforms, Inc.), as well as held various leadership roles at Actimize, DiskSites and
Odigo; all of these companies which were also later acquired. Mr. Tal was promoted to chief executive officer in October 2016 and continues
to serve in this role along with chairman of the board. In May 2017, the Company changed its name to CYNGN Inc.
Available
Information
Our
principal business address is 1015 O'Brien Dr., Menlo Park, CA 94025, and our telephone number is (650) 924-5905. We maintain our
corporate website at
https://cyngn.com
(this website address is not intended to function
as a hyperlink and the information
contained on our website is not intended to be a part of this prospectus).
Information on our website does not constitute a part
of, nor is it incorporated in any way, into this prospectus and should not be relied upon in connection with making an investment decision.
We make available free of charge on https://investors.cyngn.com/ our annual, quarterly, and current reports, and amendments to those
reports if any, as soon as reasonably practical after we electronically file such material with, or furnish it to, the SEC. We may from
time to time provide important disclosures to investors by posting them in the Investor Relations section of our website.
Our
common stock is quoted on the Nasdaq under the symbol "CYN". We file annual, quarterly, and current reports, proxy statements
and other information with the U.S. Securities Exchange Commission (the "SEC") and are subject to the requirements of the
Securities and Exchange Act of 1934, as amended (the Exchange Act). These filings are available to the public on the Internet at the
SEC's website at http://www.sec.gov.
6
THE
OFFERING
Units
    offered by us
Up to 3,062,787
    Units in a best efforts offering. Each Unit consists of: (i) one share of common stock; (ii) one Series A Warrant; and (iii) one
    Series B Warrant.
Pre-Funded
    Units offered by us
We are also offering the
    opportunity to purchase, if the purchaser so chooses and in lieu of Units, up to 3,062,787 Pre-Funded Units to purchasers whose purchase
    of Units in this offering would otherwise result in the purchaser, together with its affiliates and certain related parties, beneficially
    owning more than 4.99% (or, at the election of the purchaser, 9.99%) of our outstanding common stock immediately following the consummation
    of this offering. Each Pre-Funded Unit consists of: (i) one Pre-Funded Warrant exercisable for one share of common stock; (ii) one
    Series A Warrant; and one Series B Warrant. The purchase price of each Pre-Funded Unit is equal to the price per Unit being sold
    to the public in this offering, minus $0.0001, and the exercise price of each Pre-Funded Warrant included in the Pre-Funded Unit
    is $0.0001 per share. The Pre-Funded Warrants will be immediately exercisable and may be exercised at any time until all of the Pre-Funded
    Warrants are exercised in full. For each Pre-Funded Unit we sell, the number of Units we are offering will be decreased on a one-for-one
    basis. Because we will issue one Series A Warrant and one Series B Warrant as part of each Unit or Pre-Funded Unit, the number of
    Warrants sold in this offering will not change as a result of a change in the mix of the Units and Pre-Funded Units sold. This offering
    also relates to the shares of common stock issuable upon exercise of any Pre-Funded Warrants and Warrants sold in this offering.
Warrants
    offered by us
The
        Series A Warrants will be exercisable commencing upon Warrant Stockholder Approval, have an exercise price of $8.16 per share
        ((125% of the assumed public offering price per Unit), subject to certain anti-dilution and share combination event protections
        and have a term of five years from the date of the Warrant Stockholder Approval.
The
    Series B Warrants will be exercisable commencing upon Warrant Stockholder Approval, will have an exercise price of $8.16 per share
    (125% of the assumed public offering price per Unit), subject to certain share combination event protections and will have a term
    of two and one-half years from the date of Warrant Stockholder Approval.
Under
    the alternate cashless exercise option of the Series B Warrants, the holder of the Series B Warrant, has the right to receive three
    shares for each warrant share underlying the Series B Warrant. In addition, beginning on the 11th trading day after the Warrant Stockholder
    Approval Date (the "Reset Date"), the exercise price of the Warrants will reset to a price equal to the greater of (i)
    the Floor Price, as defined in the Warrants, in effect on the Reset Date and (ii) lowest volume weighted average price ("VWAP")
    during the period commencing on the first trading day immediately following the Stockholder Approval Date and ending on the close
    of trading on the 10th trading day thereafter. In addition, following a reverse stock split, the exercise price of the Warrants will
    be adjusted to equal the lowest single-day VWAP during the period from the trading day immediately following, until the fifth trading
    day following the reverse stock split. with a proportionate adjustment to the number of shares underlying the Warrants. Beginning
    on the Warrant Stockholder Approval Date, with certain exceptions, the Series A Warrants will provide for an adjustment to the exercise
    price and number of shares underlying the Series A Warrants upon our issuance of our common stock or common stock equivalents at
    a price per share that is less than the exercise price of the Series A Warrant.
Prior
    to the Warrant Stockholder Approval Date, the Floor Price shall be equal to 50% of the Nasdaq Minimum Price at the pricing of this
    offering and after the Warrant Stockholder Approval date, the Floor Price shall be 20% of the Nasdaq minimum Price. See "Description
    of Securities."
7
Common
    stock outstanding prior to the offering
(1)
2,431,784 shares.
Common
    stock to be outstanding after the offering
5,494,571 (assuming no
    sale of any Pre-Funded Units)
Use
    of Proceeds
We intend to use the net
    proceeds to us from this offering for working capital and other general corporate purposes and to repay the principal amount of $4,375,000
    in outstanding senior notes of the Company. See "
Use of Proceeds
" beginning on page 15.
Listing
Our common stock is listed
    on The Nasdaq Capital Market under the symbol "CYN". There is no established public trading market for the Units, Pre-Funded
    Units, Warrants or Pre-Funded Warrants, and we do not intend to list theses securities on any national securities exchange or trading
    system.
Assumed
    Public Offering Price
$6.53 per
    Unit, the closing price of our common stock on November 21, 2024.
Risk
    Factors
You should carefully consider
    the information set forth in this prospectus and, in particular, the specific factors set forth in the "
Risk Factors
"
    section beginning on page 9 of this prospectus before deciding whether or not to invest in shares of our common stock.
Lock-Up
    Agreements
Our officers and directors
    have agreed, for a period of 60 days after the Warrant Stockholder Approval Date, subject to certain exceptions, not to offer, sell,
    contract to sell, encumber, grant any option for the sale of or otherwise dispose of any shares of our common stock or other securities
    convertible into or exercisable or exchangeable for shares of our common stock without the prior written consent of the underwriter.
Unless
otherwise indicated, all information contained in this prospectus assumes the sale of all of the shares offered hereby at an assumed
public offering price of $6.53 per share and no sale of any Pre-funded Warrants. The number of shares of our common stock that are and
will be outstanding immediately before and after this offering as shown above is based on 2,431,784 shares outstanding as of November
21, 2024. The number of shares outstanding as of November 21, 2024, as used throughout this prospectus, unless otherwise indicated, excludes,
as of that date:
●
162,566 shares of common
    stock issuable upon the exercise of outstanding stock options with a weighted-average exercise price of $96.90 per share;
●
2,400 shares of common
    stock issuable upon vesting of restricted stock unit awards;
●
91,902 shares of common
    stock reserved for future issuance under our 2021 Equity Incentive Plan; and
●
65,271 shares of common
    stock issuable upon exercise of warrants to purchase common stock with a weighted-average exercise price of $285.29 per share.
8
RISK
FACTORS
An
investment in our securities involves a high degree of risk. You should carefully consider the following risks and all of the other information
contained or incorporated by reference in this prospectus before deciding whether to invest in our securities, including the
risks and uncertainties described below and under the caption "Risk Factors" in our most recently filed Annual Report on
Form 10-K and Quarterly Report on Form 10-Q filed with the SEC, in each case as these risk factors are amended or supplemented by subsequent
Annual Reports on Form 10-K or Quarterly Reports on Form 10-Q. Our business, financial condition, results of operations and future prospects
may be adversely affected as a result of such risks. In such an event, the market price of our common stock could decline, and you could
lose part or all of your investment.
Risks
Related to this Offering and the Ownership of Our Securities
Our
management will have broad discretion over the use of the net proceeds from this offering.
Our
management will have broad discretion as to the use of any net proceeds from this offering and could use them for purposes other than
those contemplated at the time of this offering. As of the date of this prospectus, we intend to use the net proceeds of this offering
for general corporate purposes, including working capital and repayment of outstanding notes, as contractually required. While management
intends to use the net proceeds in a manner that furthers our business objectives and maximizes the value for our investors, investors
will have limited visibility into the specific uses of the net proceeds. This wide-ranging discretion allows management to allocate funds
to areas that investors might not deem a priority or in their best interest. Consequently, the success of the investment is substantially
dependent on the judgment of our management with regard to the application of the net proceeds. Investors should be aware that the broad
discretion in the use of proceeds increases the risk of their investment, as it may reduce the ability to assess the viability and potential
return of the investment. See "
Use of Proceeds
."
There
is no established public trading market for the Units, Pre-Funded Units, Warrants or Pre-Funded Warrants being offered in this offering,
and we do not expect markets to develop for these securities.
There
is no established public trading market for the Units, Pre-Funded Units, Warrants or Pre-Funded Warrants being offered in this offering,
and we do not expect markets to develop for these securities. In addition, we do not intend to apply to list the Units, Pre-Funded Units,
Warrants or Pre-Funded Warrants on any national securities exchange or other nationally recognized trading system. Without an active
market, the liquidity of the Units, Pre-Funded Units, Warrants and Pre-Funded Warrants will be limited.
The
Warrants may have an adverse effect on the market price of our common stock and make it more difficult to effect a business combination.
We
will be issuing Warrants and Pre-Funded Warrants to purchase shares of common stock as part of this offering. To the extent we issue
shares of common stock to effect a future business combination, the potential for the issuance of a substantial number of additional
shares upon exercise of the Warrants or Pre-Funded Warrants could make us a less attractive acquisition vehicle in the eyes of a target
business. Such warrants, when exercised, will increase the number of issued and outstanding shares of common stock and reduce the value
of the shares issued to complete the business combination. Accordingly, the Pre-Funded Warrants and Warrants may make it more difficult
to effectuate a business combination or increase the cost of acquiring a target business. Additionally, the sale, or even the possibility
of a sale, of the shares of common stock underlying the Pre-Funded Warrants and Warrants could have an adverse effect on the market price
for our securities or on our ability to obtain future financing. If and to the extent the Pre-Funded Warrants and Warrants are exercised,
you may experience dilution to your holdings.
9
The
Warrants and Pre-Funded Warrants are speculative in nature.
Except
as otherwise set forth in the Pre-Funded Warrants and Warrants, the Pre-Funded Warrants and Warrants offered in this offering do not
confer any rights of common stock ownership on their holders, such as voting rights, but rather merely represent the right to acquire
shares of our common stock at a fixed price for a limited period of time. Specifically, commencing upon Warrant Stockholder Approval,
holders of the Series A Warrants may exercise their right to acquire the common stock and pay an exercise price of $8.16 per share (125%
of the assumed offering price per Unit), subject to adjustment, from time to time, until the 5 year anniversary from the date of the
Warrant Stockholder Approval, after which date any unexercised Series A Warrants will expire and have no further value, and holders of
the Pre-Funded Warrants may exercise their right to acquire the common stock and pay an exercise price of $0.0001 per share, subject
to adjustment, from time to time, until all of the Pre-Funded Warrants have been exercised; and commencing upon Warrant Stockholder Approval,
holders of Series B Warrants may exercise their right to acquire the common stock and pay an exercise price of $8.16 per share 125% of
the assumed offering price per Unit), subject to adjustment, from time to time, until the two and one half year anniversary from the
date of Warrant Stockholder Approval, after which date any unexercised Series B Warrants will expire and have no further value.
The
Warrants may not be exercised until we receive the Warrant Stockholder Approval.
Under
Nasdaq listing rules, the Warrants may not be exercised unless and until we obtain the Warrant Stockholder Approval. While we intend
to promptly seek stockholder approval, there is no guarantee that the Warrant Stockholder Approval will ever be obtained. If we are unable
to obtain the Warrant Stockholder Approval, the Warrants will have substantially less value. In addition, we will incur substantial costs,
and management will devote substantial time and attention, in attempting to obtain the Warrant Stockholder Approval.
Since
the Pre-Funded Warrants and Warrants are executory contracts, they may have no value in a bankruptcy or reorganization proceeding.
In
the event a bankruptcy or reorganization proceeding is commenced by or against us, a bankruptcy court may hold that any unexercised Warrants
or Pre-Funded Warrants are executory contracts that are subject to rejection by us with the approval of the bankruptcy court. As a result,
holders of the Warrants and Pre-Funded Warrants may, even if we have sufficient funds, not be entitled to receive any consideration for
their Warrants or Pre-Funded Warrants or may receive an amount less than they would be entitled to if they had exercised their Warrants
or Pre-Funded Warrants prior to the commencement of any such bankruptcy or reorganization proceeding.
Stockholders
may experience future dilution as a result of this and future equity offerings.
In
order to raise additional capital, we may in the future offer additional shares of our common stock or other securities convertible into
or exchangeable for our common stock. Investors purchasing our shares or other securities in the future could have rights superior to
existing common stockholders, and the price per share at which we sell additional shares of our common stock or other securities convertible
into or exchangeable for our common stock in future transactions may be higher or lower than the price per share in this offering.
You
will experience immediate and substantial dilution in the net tangible book value per share of the common stock included in the Units.
The
effective price per share of common stock included in the Units is substantially higher than the net tangible book value per share of
our common stock outstanding prior to this offering. Assuming the sale of all Units in this offering and no sale of any Pre-Funded Units,
if you purchase Units in this offering, you will suffer immediate and substantial dilution of $1.98 per share, with respect to the net
tangible book value of the common stock as of September 30, 2024. See the section titled "
Dilution
" below for a more
detailed discussion of the dilution you will incur if you purchase Units in this offering.
If
securities or industry analysts do not publish research or publish inaccurate or unfavorable research about our business, our stock price
and trading volume could decline.
The
trading market for our common stock will depend in part on the research and reports that securities or industry analysts publish about
us or our business. Several analysts may cover our stock. If one or more of those analysts downgrade our stock or publish inaccurate
or unfavorable research about our business, our stock price would likely decline. If one or more of these analysts cease coverage of
our Company or fail to publish reports on us regularly, demand for our stock could decrease, which might cause our stock price and trading
volume to decline.
10
You
may experience future dilution as a result of future equity offerings or acquisitions.
In
order to raise additional capital, we may in the future offer additional shares of our common stock or other securities convertible into
or exchangeable for our common stock at prices that may not be the same as the price per share in this offering. We may sell shares or
other securities in any future offering at a price per share that is less than the price per share paid by investors in this offering,
and investors purchasing shares or other securities in the future could have rights superior to existing stockholders. The price per
share at which we sell additional shares of our common stock, or securities convertible or exchangeable into our common stock, in future
transactions or acquisitions may be higher or lower than the price per share paid by investors in this offering.
Our
management will have broad discretion over the use of the net proceeds from this offering.
This
offering grants our management broad discretion in the application of the net proceeds. While management intends to use the net proceeds
in a manner that furthers our business objectives and maximizes the value for our investors, investors will have limited visibility into
the specific uses of the net proceeds. This wide-ranging discretion allows management to allocate funds to areas that investors might
not deem a priority or in their best interest. Consequently, the success of the investment is substantially dependent on the judgment
of our management with regard to the application of the net proceeds. Investors should be aware that the broad discretion in the use
of proceeds increases the risk of their investment, as it may reduce the ability to assess the viability and potential return of the
investment. See "
Use of Proceeds
."
Our
common stock may be affected by limited trading volume and price fluctuations, which could adversely impact the value of the Securities.
Although
our common stock is traded on The Nasdaq Capital Market, the volume of trading has historically been limited. Our average daily trading
volume of our shares from January 1, 2024 to September 30, 2024 was approximately 389,192 shares. Thinly traded stocks can be more volatile
than stock trading in a more active public market. We cannot predict whether and to what the extent to which an active public market
for our common stock will develop or be sustained. Therefore, a holder of our common stock who wishes to sell his or her shares may not
be able to do so immediately or at an acceptable price.
In
addition, our common stock has experienced, and is likely to experience, significant price and volume fluctuations in the future, which
could adversely affect the market prices of our common stock without regard to our operating performance. In addition, we believe that
factors such as quarterly fluctuations in our financial results and changes in the overall economy or the condition of the financial
markets could cause the market prices of our common stock to fluctuate substantially. These fluctuations may also cause short sellers
to periodically enter the market in the belief that we will have poor results in the future. We cannot predict the actions of market
participants and, therefore, can offer no assurances that the market for our common stock will be stable or appreciate over time.
An
investment in our securities is speculative, and there can be no assurance of any return on any such investment.
Investors
are cautioned that an investment in the securities offered hereby is highly speculative and involves a significant degree of risk. The
success of our business and the ability to achieve our business goals and objectives, as outlined in this prospectus, are subject to
numerous uncertainties, contingencies and risks. As such, there is no assurance that investors will realize a return on their investment
or that they will not lose their entire investment. Potential investors should carefully consider whether such a speculative investment
is suitable for their financial situation and investment objectives before purchasing securities.
11
We
may need, but be unable, to obtain additional funding on satisfactory terms, which could dilute our stockholders or impose burdensome
financial restrictions on our business.
We
have relied upon cash from financing activities, and, in the future, we hope to rely on revenues generated from operations to fund the
cash requirements of our activities. However, there can be no assurance that we will be able to generate significant cash from our operating
activities in the future. Future financing may not be available on a timely basis, in sufficient amounts or on terms acceptable to us,
if at all. Any debt financing or other financing of securities senior to the common stock will likely include financial and other covenants
that will restrict our flexibility. Any failure to comply with these covenants would have a material adverse effect on our business,
prospects, financial condition and results of operations because we could lose our existing sources of funding, and our ability to secure
new sources of funding could be impaired.
The
requirements of being a public company may strain our resources, divert management's attention and affect our results of operations.
As
a public company, we face increased legal, accounting, administrative and other costs and expenses. We are subject to the reporting requirements
of the Exchange Act and the Sarbanes-Oxley Act of 2002 (the "Sarbanes Oxley-Act"). The Exchange Act requires, among other
things, that we file annual, quarterly and current reports with respect to our business and financial condition. The Sarbanes- Oxley
Act requires, among other things, that we maintain effective disclosure controls and procedures and internal control over financial reporting.
For example, Section 404 requires that our management report on the effectiveness of our internal controls structure and procedures for
financial reporting. Section 404 compliance may divert internal resources and will take a significant amount of time and effort to complete.
If we fail to maintain compliance under Section 404, we could be subject to sanctions or investigations by Nasdaq, the SEC, or other
regulatory authorities. Furthermore, investor perceptions of our Company may suffer, and this could cause a decline in the market price
of our common stock. Any continued failure of our internal control over financial reporting could have a material adverse effect on our
stated results of operations and harm our reputation. If we are unable to implement these changes effectively or efficiently, it could
harm our operations, financial reporting or financial results and could result in an adverse opinion on internal controls from our independent
auditors. We may need to hire a number of additional employees with public accounting and disclosure experience in order to meet our
ongoing obligations as a public company, particularly if we become fully subject to Section 404 and its auditor attestation requirements,
which will increase costs, and evaluate the costs of our current service providers. We expect these rules and regulations to increase
our legal and financial compliance costs and to make some activities more time- consuming and costly, although we are currently unable
to estimate these costs with any degree of certainty. A number of those requirements will require us to carry out activities we have
not done previously. Our management team and other personnel will need to devote a substantial amount of time to new compliance initiatives
and to meeting the obligations that are associated with being a public company, which may divert attention from other business concerns,
which could have a material adverse effect on our business, financial condition and results of operations.
Additionally,
the expenses incurred by public companies generally for reporting and corporate governance purposes have been increasing. These increased
costs will require us to divert a significant amount of money that we could otherwise use to develop our business. If we are unable to
satisfy our obligations as a public company, we could be subject to delisting of our common stock, fines, sanctions and other regulatory
action and potentially civil litigation.
If
we are not able to comply with the applicable continued listing requirements or standards of The NASDAQ Capital Market, The NASDAQ Capital
Market could delist and adversely affect the market price and liquidity of our common stock.
Our
common stock is currently traded on The NASDAQ Capital Market under the symbol "CYN". We have in the past been, and may in
the future be, unable to comply with certain of the listing standards that we are required to meet to maintain the listing of our common
stock on The NASDAQ Capital Market. If we fail to meet any of the continued listing standards of The NASDAQ Capital Market, our common
stock will be delisted from The NASDAQ Capital Market.
New
laws, regulations, and standards relating to corporate governance and public disclosure may create uncertainty for public companies,
increase legal and financial compliance costs and make some activities more time consuming.
These
laws, regulations and standards are subject to varying interpretations, in many cases due to their lack of specificity, and, as a result,
may evolve over time as new guidance is provided by the courts and other bodies. This could result in continuing uncertainty regarding
compliance matters and higher costs necessitated by ongoing revisions to disclosure and governance practices. If our efforts to comply
with new laws, regulations, and standards differ from the activities intended by regulatory or governing bodies due to ambiguities related
to their application and practice, regulatory authorities may initiate legal proceedings against us, and our business may be adversely
affected.
12
As
a "smaller reporting company" under applicable law, we are subject to lessened disclosure requirements, which could leave
our stockholders without information or rights available to stockholders of more mature companies.
We
are a "smaller reporting company" as defined in Rule 12b-2 of the Exchange Act. As a smaller reporting company, we are permitted
to comply with reduced disclosure obligations in our SEC filings compared to larger public companies. This includes, but is not limited
to, simplified executive compensation disclosures, reduced financial statement requirements, and less stringent narrative disclosure
obligations. While these scaled disclosure requirements may reduce the burden on us and provide some cost savings, investors should be
aware that they may also receive less information about the Company than they would from a larger public reporting company. The designation
as a smaller reporting company and the accompanying reduced disclosure requirements could make it more difficult for investors to fully
assess the value and risks of an investment in our securities. Consequently, the designation as a smaller reporting company under the
SEC rules increases the risk to investors, as it may limit the amount of publicly available information to assess the Company's
performance, prospects, and financial health. Potential investors should consider the implications of these reduced disclosure requirements
when making an investment decision.
We
currently do not intend to declare dividends on our common stock in the foreseeable future and, as a result, your returns on your investment
may depend solely on the appreciation of our common stock.
We
have not declared any cash dividends since inception. While our board of directors in September 2023, declared a one-time special stock
dividend of 10% on our issued and outstanding shares of our common stock, we currently do not anticipate paying any dividends in the
foreseeable future. This reinvestment strategy means that investors should not expect to receive any return on their investment through
dividend payments. Consequently, any return on investment will likely depend on the appreciation of the price of our common stock, which
may never occur. Investors should be aware that the possibility of a lack of dividend income can significantly reduce the potential for
income from their investment in our Company, and the only opportunity for achieving a return on their investment may be through the sale
of their shares at a price greater than their purchase price, which may not be possible. This risk is compounded by the market's
volatile nature and the speculative nature of our business, which may not lead to sufficient profits or operational cash flows to enable
dividend payments in the future. Potential investors should carefully consider the long-term nature of an investment in our company,
given our intention not to pay dividends and the consequent requirement for investors to seek returns through other means, such as capital
appreciation, which may not materialize.
You
should consult your own independent tax advisor regarding any tax matters arising with respect to the securities offered in connection
with this offering.
Participation
in this offering could result in various tax-related consequences for investors. All prospective purchasers of the resold securities
are advised to consult their own independent tax advisors regarding the U.S. federal, state, local and non-U.S. tax consequences relevant
to the purchase, ownership and disposition of the resold securities in their particular situations.
We
may be subject to securities litigation, which is expensive and could divert our management's attention.
The
market price of our securities may be volatile, and in the past companies that have experienced volatility in the market price of their
securities have been subject to securities class action litigation. We may be the target of this type of litigation in the future. Securities
litigation against us could result in substantial costs and divert our management's attention from other business concerns.
We
may be unable to repay our indebtedness under the notes, and any default could harm our financial condition and could lead to us losing
our intellectual property assets.
In
November 2024, pursuant to a Securities Purchase Agreement, we issued Senior Notes having an aggregate principal amount of $4,375,000
with an original issue discount of 20%, and which rank senior to any other Company indebtedness and our capital stock in the event of
a liquidation, including the securities being offered hereby. The Notes will mature on February 12, 2025. While the Notes are outstanding,
the Company agreed to certain restrictive covenants, including covenants providing that the Company and its subsidiaries are not permitted
to incur any indebtedness, create any other liens or security interests on property or assets, make payments on any other indebtedness,
change its business, or license our intellectual property, unless the note holders give their prior written consent, which restrictions
could materially adversely impact our operations and prevent or delay the execution of our business plan, strategic transactions or capital
raising efforts.
We
may be unable to repay our indebtedness under the notes. If we default on the notes, we will be subject to a 20% interest rate and be
required to grant to the note holders a security interest in our intellectual property to secure the payment obligations under the notes.
If the note holders seek to foreclose on their security interest in our intellectual property, we may lose some or all of our assets,
which could cause severe interruptions in our business practices or temporarily or permanently suspend our business operations. Our failure
to repay the notes and the consequences therefrom may negatively impact our financial condition and business operations and, in turn,
your investment in us.
13
SPECIAL
NOTE REGARDING FORWARD-LOOKING STATEMENTS
All
statements in this prospectus and the documents incorporated by reference that are not historical facts should be considered "Forward
Looking Statements" within the meaning of the "Safe Harbor" provisions of the Private Securities Litigation Reform
Act of 1995. Such statements involve known and unknown risks, uncertainties and other factors that may cause actual results, performance
or achievements of the Company to be materially different from any future results, performance or achievements expressed or implied by
the forward-looking statements. Some of the forward-looking statements can be identified by the use words such as "believe,"
"expect," "may," "estimates," "should," "seek," "approximately,"
"intend," "plan," "estimate," "project," "continue" or "anticipates"
or similar expressions or words, or the negatives of those expressions or words. These statements may be made directly in this prospectus
and they may also be incorporated by reference in this prospectus from other documents filed with the SEC, and include, but are not limited
to, statements about future financial and operating results and performance, statements about our plans, objectives, expectations and
intentions with respect to future operations, products and services, and other statements that are not historical facts. These forward-looking
statements are based upon the current beliefs and expectations of our management and are inherently subject to significant business,
economic and competitive uncertainties and contingencies, many of which are difficult to predict and generally beyond our control. In
addition, these forward-looking statements are subject to assumptions with respect to future business strategies and decisions that are
subject to change. Actual results may differ materially from the anticipated results discussed in these forward-looking statements.
We
undertake no obligation to publicly update any forward-looking statement, whether as a result of new information, future developments
or otherwise, except as may be required by applicable laws or regulations.
14
USE
OF PROCEEDS
We
                                            estimate that the net proceeds to us from this offering will be $18.0 million after deducting
                                            placement agent fees and other estimated offering expenses payable by us for this offering
                                            assuming that we sell 100% of the securities offered in this offering (or approximately $13.4
                                            million, $8.8 million and $4.2 million if we sell 75%, 50% and 25% of the securities offered
                                            in this offering, respectively).
We
intend to use the net proceeds from this offering for working capital and other general corporate purposes and to repay the principal
amount of $4,375,000 in outstanding senior notes of the Company. The senior notes mature on February 12, 2025, and upon the occurrence
of an event of default, as defined in the senior notes, bears interest as the rate of 20% per annum. Pursuant to the terms of the senior
notes, we are required to apply 100% of the net proceeds of this offering to repay the senior notes.
Investors
must rely on the judgment of our management, who will have broad discretion regarding the application of the remaining net proceeds of
this offering after repayment of our outstanding debt obligations. The amounts and timing of our actual expenditures will depend upon
numerous factors, including market conditions, cash generated by our operations (if any), business developments and the rate of our growth.
We may find it necessary or advisable to use portions of the proceeds of this offering for other purposes. Pending these uses, we intend
to invest the net proceeds of this offering in a money market or other interest-bearing account.
15
DIVIDEND
POLICY
We
have not declared any cash dividends since inception. While our board of directors in September 2023, declared a one-time special stock
dividend of 10% on our issued and outstanding shares of our common stock, we currently do not anticipate paying any dividends in the
foreseeable future. We anticipate that all of our earnings will be used to provide working capital, to support our operations, and to
finance the growth and development of our business. The payment of dividends is within the discretion of our board of directors and will
depend on our earnings, capital requirements, financial condition, prospects, applicable Delaware law, which provides that dividends
are only payable out of surplus or current net profits, and other factors our board of directors might deem relevant. There are no restrictions
that currently limit our ability to pay dividends on our common stock other than those generally imposed by applicable state law.
16
CAPITALIZATION
The
following table sets forth our consolidated cash and capitalization, as of September 30, 2024. Such information is set forth on the following
basis:
●
on an actual basis;
●
on a pro forma basis giving
    effect to the sale and issuance of senior notes with an aggregate principal amount of $4,375,000 and an aggregate of 405,125 shares
    of common stock prior to the date of this prospectus; and
●
on a pro forma as adjusted basis giving effect to the sale of 3,062,787 Units (assuming no sale of Pre-Funded Units and no exercise of the Warrants issued in connection with this offering) by us in this offering at an assumed public offering price of $6.53 per Unit, after deducting the underwriter discount and commissions, offering expenses and repayment of the principal amount of $4,375,000 in outstanding senior notes of the Company.
You
should read the following table in conjunction with "
Use of Proceeds
," "
Management's Discussion and
Analysis of Financial Condition and Results of Operations
" and our financial statements and related notes included in this
prospectus.
The
pro forma as adjusted information set forth below is illustrative only and will be adjusted based on the actual public offering price
and other terms of this offering determined at pricing.
As of September 30, 2024
Actual
Pro Forma
Pro Forma
As Adjusted
Cash
$
1,974,441
$
4,996,241
$
18,623,779
Total indebtedness
$
1,831,977
$
6,206,977
$
1,831,977
Stockholders' equity:
Common shares 2,026,575 issued and outstanding at September 30, 2024
$
20
$
24
55
Additional Paid-in Capital
$
183,883,194
$
186,904,990
204,907,497
Accumulated Deficit
$
(177,234,049
)
$
(177,234,049
)
(177,234,049
)
Total Stockholders' equity
$
6,649,165
$
9,670,965
27,673,503
Total capitalization
$
6,649,165
$
9,670,965
$
27,673,503
The
information above excludes:
●
168,030 shares of common
    stock issuable upon the exercise of outstanding stock options with a weighted-average exercise price of $97.38 per share;
●
2,484 shares of common
    stock issuable upon vesting of restricted stock unit awards;
●
86,438 shares of common
    stock reserved for future issuance under our 2021 Equity Incentive Plan; and
●
72,369 shares of common
    stock issuable upon exercise of warrants to purchase common stock with a weighted-average exercise price of $283.89 per share.
17
DILUTION
Purchasers
of our common stock in this offering will experience an immediate and substantial dilution in the pro forma net tangible book value of
their shares of common stock. Dilution in pro forma net tangible book value represents the difference between the public offering price
per share and the pro forma as adjusted net tangible book value per share of our common stock immediately after the offering.
The
historical net tangible book value (deficit) of our common stock as of September 30, 2024 was $5,160,837 or $2.55 per share. Historical
net tangible book value per share of our common stock represents our total tangible assets (total assets less intangible assets) less
total liabilities divided by the number of shares of common stock outstanding as of that date.
After
giving effect to the issuance of an aggregate of 405,125 shares of common stock from September 30, 2024 until the date of this prospectus,
our pro forma net tangible book value as of September 30, 2024 would have been $8,182,637 or approximately $3.36 per share of our common
stock.
After giving effect to the
pro forma adjustments set forth above and the sale of 3,062,787 Units in this offering at an assumed public offering price of $6.53 per
Unit, after deducting estimated underwriting discounts and commissions and estimated offering expenses, our pro forma as adjusted net
tangible book value as of September 30, 2024 would have been $23,163,375 or approximately $4.55 per share of common stock. This represents
an immediate increase in pro forma net tangible book value per share of $2.01 to the existing stockholders and an immediate dilution in
pro forma net tangible book value per share of $1.98 to new investors who purchase Units in the offering. The following table illustrates
this per share dilution to new investors:
Assumed
    public offering price per Unit
$
6.53
Historical net tangible
    book value per share as of September 30, 2024
$
2.55
Increase
    in net tangible book value per share attributable to the pro forma adjustments described above
$
0.82
Pro forma net tangible
    book value per share as of September 30, 2024
$
3.36
Increase
    in pro forma net tangible book value per share after giving effect to this offering
$
2.01
Pro forma as adjusted net
    tangible book value per share as of September 30, 2024 after the offering
$
4.55
Dilution
    per share to investors in this public offering
$
1.98
The
dilution information discussed above is illustrative only and will change based on the actual public offering price and other terms of
this offering determined at pricing. A $1 increase or decrease in the assumed public offering price of $6.53 per Unit, would increase
or decrease our pro forma as adjusted net tangible book value per share after this offering by $0.55 and increase or decrease dilution
per share to new investors purchasing Units in this offering by $0.45, assuming that the number of Units offered by us, as set forth
on the cover page of this prospectus, remains the same and after deducting the estimated underwriting discounts and commissions and estimated
offering expenses payable by us.
To
the extent that outstanding options or warrants are exercised, you will experience further dilution. In addition, we may choose to raise
additional capital due to market conditions or strategic considerations even if we believe we have sufficient funds for our current or
future operating plans. To the extent that additional capital is raised through the sale of equity or convertible debt securities, the
issuance of these securities may result in further dilution to our stockholders.
The
dilution information set forth in the table above is illustrative only and will be adjusted based on the actual public offering price
and other terms of this offering determined at pricing.
18
DESCRIPTION
OF SECURITIES
The
following description of our securities is only a summary and is qualified in its entirety by reference to the actual terms and provisions
of the capital stock contained in our Certificate of Incorporation and our Bylaws.
General
Our
authorized capital stock consists of 200,000,000 shares of common stock, $0.00001 par value per share, and 10,000,000 shares of preferred
stock, $0.00001 par value per share.
As
of the date of this prospectus, there were 2,431,784 shares of our common stock issued and outstanding held by approximately 64 holders
of record, and no shares of our preferred stock issued and outstanding.
Common
Stock
Our
certificate of incorporation, as amended and restated ("Certificate of Incorporation") authorize us to issue up to 200,000,000
shares of common stock, $0.00001 par value. Each holder of our common stock is entitled to one (1) vote for each share held of record
on all voting matters we present for a vote of stockholders, including the election of directors. Holders of common stock have no cumulative
voting rights or preemptive rights to purchase or subscribe for any stock or other securities, and there are no conversion rights or
redemption or sinking fund provisions with respect to our common stock. All shares of our common stock are entitled to share equally
in dividends from sources legally available when, and if, declared by our Board of Directors.
Our
Board of Directors is authorized to issue additional shares of common stock not to exceed the amount authorized by the Certificate of
Incorporation, on such terms and conditions and for such consideration as the Board may deem appropriate without further stockholder
action.
In
the event of our liquidation or dissolution, all shares of our common stock are entitled to share equally in our assets available for
distribution to stockholders. However, the rights, preferences and privileges of the holders of our common stock are subject to, and
may be adversely affected by, the rights of the holders of shares of preferred stock that have been issued or shares of preferred stock
that our Board of Directors may decide to issue in the future.
Warrants
and Pre-Funded Warrants Offered in this Offering
The
following summary of certain terms and provisions of the Warrants and Pre-Funded Warrants offered hereby is not complete and is subject
to, and qualified in its entirety by the provisions of the forms of Warrant and Pre-Funded Warrant, which are filed as exhibits to the
registration statement of which this prospectus is a part. Prospective investors should carefully review the terms and provisions set
forth in the forms of Warrant and Pre-Funded Warrant.
Exercisability
.
The Pre-Funded Warrants are exercisable at any time after their original issuance until they are exercised in full. The Series A Warrants
will be exercisable commencing upon the Warrant Stockholder Approval until five years after the date of Warrant Stockholder Approval,
and the Series B Warrants will be exercisable commencing upon the Warrant Stockholder Approval until two and one-half years after the
date of Warrant Stockholder Approval. Each of the Warrants and the Pre-Funded Warrants will be exercisable, at the option of each holder,
in whole or in part by delivering to us a duly executed exercise notice accompanied by payment in full in immediately available funds
for the number of shares of common stock subscribed for upon such exercise (except in the case of a cashless exercise as discussed below).
Cashless
Exercise and Alternative Cashless Exercise
If
a registration statement registering the issuance of the shares of common stock underlying the Warrants or Pre-Funded Warrants under
the Securities Act is not effective or available, the holder may, in its sole discretion, elect to exercise the Warrants or Pre-Funded
Warrants through a cashless exercise, in which case the holder would receive upon such exercise the net number of shares of common stock
determined according to the formula set forth in the Warrants or Pre-Funded Warrants, as applicable.
19
No
fractional shares of common stock will be issued in connection with the exercise of a Warrant or Pre-Funded Warrant. In lieu of fractional
shares, we will pay the holder an amount in cash equal to the fractional amount multiplied by the exercise price.
Under
the alternate cashless exercise option, the holder of the Series B Warrant, has the right to receive an aggregate number of shares equal
to the product of (x) the aggregate number of shares of common stock that would be issuable upon a cashless exercise of the Series B
Warrant and (y) 3.0
Exercise
Limitation.
A holder will not have the right to exercise any portion of the Pre-Funded Warrants or Warrants if the holder (together
with its affiliates) would beneficially own in excess of 4.99% (or, upon election by a holder prior to the issuance of any warrants,
9.99%) of the number of shares of common stock outstanding immediately after giving effect to the exercise, as such percentage ownership
is determined in accordance with the terms of the Warrants and Pre-Funded Warrants. However, any holder may increase or decrease such
percentage to any other percentage not in excess of 9.99%, upon at least 61 days' prior notice from the holder to us with respect
to any increase in such percentage.
Exercise
Price
. The exercise price of each Pre-Funded Warrant included in each Pre-Funded Unit is $0.0001 per share.
The
Series A Warrants will be exercisable upon Warrant Stockholder Approval, have an exercise price of $8.16 per share of common stock (equal
to 125% of the public offering price per Unit, subject to certain anti-dilution and share combination event protections, as further set
forth below) and have a term of 5 years from the date of Warrant Stockholder Approval.
The
Series B Warrants will be exercisable commencing upon Warrant Stockholder Approval, will have an exercise price of $8.16 per share of
common stock (equal to 125% of the public offering price per Unit, subject to certain share combination event protections, as further
set forth below) per share of common stock and will have a term of two and one-half years from the date of Warrant Stockholder Approval.
Beginning
on the 11th trading day after the Warrant Stockholder Approval Date (the "Reset Date"), the exercise price of the Warrants
will reset to a price equal to the greater of (i) the Floor Price, as defined in the Warrants, in effect on the Reset Date, and (ii)
the lowest volume weighted average price ("VWAP") during the period commencing on the first trading day immediately following
the Stockholder Approval Date and ending on the close of trading on the 10th trading day thereafter. In addition, following a reverse
stock split, the exercise price of the Warrants will be adjusted to equal the lowest single-day VWAP during the period from the trading
day immediately following, until the fifth trading day following the reverse stock split with a proportionate adjustment to the number
of shares underlying the Warrants.
Adjustment
for Subsequent Issuances.
Subject to certain exceptions, if the Company sells any common stock (or securities convertible into or
exercisable into common stock) at a price per share (or conversion or exercise price, as applicable) less than the exercise price of
the Series A Warrants then in effect, then the exercise price of the Series A Warrants will be reduced to such lower price (subject to
a minimum exercise price of $                 prior to
Stockholder Warrant Approval (50% of the Nasdaq Minimum Price as of the date of pricing of this offering and a minimum exercise price
of $                       after
Warrant Stockholder Approval (20% of the Nasdaq Minimum Price as of the date of pricing of this offering)).
Share
Combination Event Adjustment
. If at any time on or after the date of issuance there occurs any share split, share dividend, share
combination recapitalization or other similar transaction involving our common stock and the lowest daily volume weighted average price
during the period commencing on the trading day immediately following the applicable date of share combination event and ending on the
fifth trading day immediately following such date is less than the exercise price of the Warrants then in effect, then the exercise price
of the Warrants will be reduced to the lowest daily volume weighted average price during such period (subject to a minimum exercise price
of $                      
prior to Stockholder Warrant Approval (50% of the Nasdaq Minimum Price as of the date of pricing of this offering and a minimum exercise
price of $                 after Warrant Stockholder
Approval (20% of the Nasdaq Minimum Price as of the date of pricing of this offering)) and the number of shares issuable upon exercise
will be proportionately adjusted such that the aggregate price will remain unchanged.
20
Warrant
Stockholder Approval.
Under Nasdaq listing rules, the Warrants may not be exercised unless and until we obtain the approval of our
stockholders. While we intend to promptly seek stockholder approval, there is no guarantee that the Warrant Stockholder Approval will
ever be obtained. If we are unable to obtain the Warrant Stockholder Approval, the Warrants may not be exercised and will have substantially
less value. In addition, we will incur substantial cost, and management will devote substantial time and attention, in attempting to
obtain the Warrant Stockholder Approval.
Transferability.
Subject to applicable laws, the Warrants and the Pre-Funded Warrants may be offered for sale, sold, transferred or assigned without
our consent.
Exchange
Listing.
We do not intend to apply for the listing of the Warrants or Pre-Funded Warrants offered in this offering on any stock exchange.
Without an active trading market, the liquidity of the Warrants and Pre-Funded Warrants will be limited.
Rights
as a Stockholder
. Except as otherwise provided in the Warrants or the Pre-Funded Warrants or by virtue of such holder's ownership
of our shares of common stock, the holder of a Warrant or Pre-Funded Warrant does not have the rights or privileges of a holder of our
shares of common stock, including any voting rights, until the holder exercises the Warrant or Pre-Funded Warrant.
Fundamental
Transaction
. In the event of a fundamental transaction, as described in the Warrants and the Pre-Funded Warrants, and generally including,
with certain exceptions, any reorganization, recapitalization or reclassification of our shares of common stock, the sale, transfer or
other disposition of all or substantially all of our properties or assets, our consolidation or merger with or into another person, the
acquisition of more than 50% of our outstanding shares of common stock, or any person or group becoming the beneficial owner of 50% of
the voting power represented by our outstanding shares of common stock, the holders of the Warrants and the Pre-Funded Warrants will
be entitled to receive upon exercise thereof the kind and amount of securities, cash or other property that the holders would have received
had they exercised the warrants immediately prior to such fundamental transaction.
Governing
Law.
The Pre-Funded Warrants and the Warrants are governed by New York law.
Other
Securities of the Company Not Being Offered in this Offering
The
following is a description of securities of the Company other than the common stock and Warrants being offered hereby.
Preferred
Stock
Our
Certificate of Incorporation authorize us to issue up to 10,000,000 shares of preferred stock, $0.00001 par value. Our Board of Directors
is authorized, without further action by the stockholders, to issue shares of preferred stock and to fix the designations, number, rights,
preferences, privileges, and restrictions thereof, including dividend rights, conversion rights, voting rights, terms of redemption,
liquidation preferences and sinking fund terms. We believe that the Board of Directors' power to set the terms of, and our ability
to issue preferred stock, will provide flexibility in connection with possible financing or acquisition transactions in the future. The
issuance of preferred stock, however, could adversely affect the voting power of holders of common stock and decrease the amount of any
liquidation distribution to such holders. The presence of outstanding preferred stock could also have the effect of delaying, deterring,
or preventing a change in control of our Company.
Outstanding
Warrants
As
of November 21, 2024, we had 65,271 outstanding warrants with a weighted average exercise price of $285.29 per share, with a weighted
average remaining life of 5 years.
Outstanding
Options
As
of November 21, 2024, we have 162,566 outstanding options with a weighted average exercise price of $96.90 per share, with a weighted
average remaining contractual life of 6.4 years.
21
Restricted
Stock Units (RSU)
As
of November 21, 2024, we have 2,400 outstanding RSUs.
Anti-Takeover
Provisions
Certificate
of Incorporation and Bylaw Provisions
Our
amended and restated certificate of incorporation and our amended and restated bylaws will include a number of provisions that may have
the effect of deterring hostile takeovers or delaying or preventing changes in control of our management team, including the following:
Classified
Board.
Our fifth amended and restated certificate of incorporation and amended and restated bylaws provide that our board of directors
will be classified into three classes of directors, each of which will hold office for a three-year term. In addition, directors may
only be removed from the board of directors for cause and only by the approval of two-thirds of the combined vote of our then outstanding
shares of common stock. A third party may be discouraged from making a tender offer or otherwise attempting to obtain control of us as
it is more difficult and time consuming for stockholders to replace a majority of the directors on a classified board of directors.
Supermajority
Approvals.
Our amended and restated bylaws require the approval of two-thirds of the combined vote of our then-outstanding shares
of our common stock to amend our bylaws. This will have the effect of making it more difficult to amend our amended and restated bylaws
to remove or modify certain provisions.
Advance
Notice Requirements for Stockholder Proposals and Director Nominations.
Our amended and restated bylaws provide advance notice procedures
for stockholders seeking to bring business before our annual meeting of stockholders, or to nominate candidates for election as directors
at any meeting of stockholders. Our amended and restated bylaws will also specify certain requirements regarding the form and content
of a stockholder's notice. These provisions may preclude our stockholders from bringing matters before our annual meeting of stockholders
or from making nominations for directors at our meetings of stockholders.
Issuance
of Undesignated Preferred Stock.
Our board of directors has the authority, without further action by the holders of our common stock,
to issue up to 10,000,000 shares of undesignated preferred stock with rights and preferences, including voting rights, designated from
time to time by the board of directors. The existence of authorized but unissued shares of preferred stock will enable our board of directors
to render more difficult or discourage an attempt to obtain control of us by means of a merger, tender offer, proxy contest, or otherwise.
Issuance
of Unissued Stock.
Our shares of unissued common stock are available for future issuance without stockholder approval, subject to
certain protections afforded to our preferred stock pursuant to our certificate of incorporation, as amended and restated. We may utilize
these additional shares for a variety of corporate purposes, including future public offerings to raise additional capital, to facilitate
corporate acquisitions, payment as a dividend on the capital stock or as equity compensation to our service providers under our equity
compensation plans. The existence of unissued and unreserved common stock may enable our board of directors to issue shares to persons
friendly to current management thereby protecting the continuity of our management. Also, if we issue additional shares of our authorized,
but unissued, common stock, these issuances will dilute the voting power and distribution rights of our existing common stockholders.
Delaware
Law
We
are governed by the provisions of Section 203 of the DGCL. In general, Section 203 prohibits a public Delaware corporation from engaging
in a "business combination" with an "interested stockholder" for a period of three years after the date of the
transaction in which the person became an interested stockholder, unless:
●
the
                                            business combination or transaction which resulted in the stockholder becoming an interested
                                            stockholder was approved by the board of directors prior to the time that the stockholder
                                            became an interested stockholder;
●
upon
                                            consummation of the transaction which resulted in the stockholder becoming an interested
                                            stockholder, the interested stockholder owned at least 85% of the voting stock of the corporation
                                            outstanding at the time the transaction commenced, excluding shares owned by directors who
                                            are also officers of the corporation and shares owned by employee stock plans in which employee
                                            participants do not have the right to determine confidentially whether shares held subject
                                            to the plan will be tendered in a tender or exchange offer; or
●
at
                                            or subsequent to the time the stockholder became an interested stockholder, the business
                                            combination was approved by the board of directors and authorized at an annual or special
                                            meeting of the stockholders, and not by written consent, by the affirmative vote of at least
                                            two-thirds of the outstanding voting stock which is not owned by the interested stockholder.
In
general, Section 203 defines a "business combination" to include mergers, asset sales and other transactions resulting in
financial benefit to a stockholder and an "interested stockholder" as a person who, together with affiliates and associates,
owns, or within three years did own, 15% or more of the corporation's outstanding voting stock. These provisions may have the effect
of delaying, deferring or preventing changes in control of our company.
22
Choice
of Forum
Our
amended and restated certificate of incorporation provide that unless the Company consents in writing to the selection of an alternative
forum, the Court of Chancery of the State of Delaware will be the exclusive forum for any derivative action or proceeding brought on
our behalf; any action asserting a breach of fiduciary duty by any of our directors, officers or other employees to us or our stockholders;
any action asserting a claim against the Company, our directors or officer or employees directors arising pursuant to any provision of
the DGCL, our amended and restated certificate of incorporation or amended and restated bylaws or any other action asserting a claim
against us our directors or officers or employees that is governed by the internal affairs doctrine. This choice of forum provision does
not apply to actions brought to enforce a duty or liability created by the Exchange Act or any other claim for which federal courts have
exclusive jurisdiction.
Furthermore,
unless we consent in writing to the selection of an alternative forum, the federal district courts of the United States shall be the
exclusive forum for the resolution of any complaint asserting a cause of action arising under the Securities Act. We intend for this
provision to apply to any complaints asserting a cause of action under the Securities Act despite the fact that Section 22 of the Securities
Act creates concurrent jurisdiction for the federal and state courts over all actions brought to enforce any duty or liability created
by the Securities Act or the rules and regulations promulgated thereunder. The enforceability of similar choice of forum provisions in
other companies' certificates of incorporation has been challenged in legal proceedings, and it is possible that a court could
find these types of provisions in our certificate of incorporation to be inapplicable or unenforceable.
Limitations
of Liability and Indemnification
Our
Certificate of Incorporation limits the liability of directors to the maximum extent permitted by the DGCL. The DGCL provides that directors
of a corporation will not be personally liable for monetary damages for breach of their fiduciary duties as directors.
Our
bylaws, as amended, provide that we will indemnify our directors and officers to the fullest extent permitted by law, and may indemnify
employees and other agents. Our bylaws also provide that we are obligated to advance expenses incurred by a director or officer in advance
of the final disposition of any action or proceeding.
Our
bylaws, as amended, subject to the provisions of the DGCL, contain provisions which allow the corporation to indemnify any person against
liabilities and other expenses incurred as the result of defending or administering any pending or anticipated legal issue in connection
with service to us if it is determined that person acted in good faith and in a manner which he or she reasonably believed was in the
best interest of the corporation. Insofar as indemnification for liabilities arising under the Securities Act of 1933 as amended, or
the Securities Act, may be permitted to our directors, officers and controlling persons, we have been advised that in the opinion of
the Securities and Exchange Commission, such indemnification is against public policy as expressed in the Securities Act and is, therefore,
unenforceable.
The
limitation of liability and indemnification provisions in our bylaws may discourage stockholders from bringing a lawsuit against directors
for breach of their fiduciary duties. They may also reduce the likelihood of derivative litigation against directors and officers, even
though an action, if successful, might provide a benefit to us and our stockholders. Our results of operations and financial condition
may be harmed to the extent we pay the costs of settlement and damage awards against directors and officers pursuant to these indemnification
provisions.
At
present, there is no pending litigation or proceeding involving any of our directors or officers as to which indemnification is required
or permitted, and we are not aware of any threatened litigation or proceeding that may result in a claim for indemnification.
Transfer
Agent and Registrar
The
transfer agent and registrar for our common stock is Continental Stock Transfer & Trust Company.
Listing
Our
common stock is listed on The Nasdaq Capital Market under the symbol "CYN."
23
PLAN
OF DISTRIBUTION
We
have engaged Aegis Capital Corp., to act as our sole placement agent to solicit offers to purchase the Units offered by this prospectus
on a best efforts basis. The placement agent is not purchasing or selling any such securities, nor is it required to arrange for the
purchase and sale of any specific number or dollar amount of such securities, other than to use its "best efforts" to arrange
for the sale of such securities by us. Therefore, we may not sell all, or any of the Units being offered. The terms of this offering
were subject to market conditions and negotiations between us, the placement agent and prospective investors. This is a best-efforts
offering and there is no minimum number of securities or minimum aggregate amount of proceeds that is a condition to the closing of this
offering. The placement agent may retain sub-agents and selected dealers in connection with this offering. We will have one closing for
all the securities purchased in this offering. The public offering price per Unit will be fixed for the duration of this offering.
Delivery
of the securities offered hereby is expected to occur on or about December        , 2024 subject
to satisfaction of certain customary closing conditions.
We
have agreed to pay the placement agent a fee equal to 7% (including the 1% non-accountable expense allowance) of the gross proceeds received
in the offering. In addition, we have agreed to reimburse the placement agent for its legal fees, and disbursements and expenses in connection
with this offering in an amount of $100,000.
Per
    Unit
Per
Pre-Funded
Unit
Total
Public offering price
$
$
$
Placement agent fees
(1)
$
$
$
Non-accountable expense allowance (1%)
$
$
$
Proceeds, before expenses, to us
(2)
$
$
$
(1)
Represents the placement
    agent fee of 7%. Does not include reimbursement by us of the placement agent's legal fees and disbursements of its counsel
    of $100,000.
(2)
The amount of offering
    proceeds to us presented in this table does not give effect to any exercise of the Warrants or the Pre-Funded Warrants.
24
We have agreed to pay the
placement agent's legal expenses relating to the offering in the amount of $100,000. We estimate the total expenses payable by us
for this offering, excluding the placement agent fees and expenses, will be approximately $297,462.
Assuming we raise the maximum
amount offered of $20,000,000 in proceeds from this offering, we anticipate payment to the placement agent of not more than $1,600,000,
consisting of $ 1,400,000 for the placement agent fee, $200,000 representing the non-accountable allowance, and up to $397,462 for the
reimbursement of accountable fees, costs and expenses of the placement which are payable by us.
Regulation
M
The
placement agent may be deemed to be an underwriter within the meaning of Section 2(a)(11) of the Securities Act, and any commissions
received by it and any profit realized on the resale of the shares sold by it while acting as principal might be deemed to be underwriting
discounts or commissions under the Securities Act. As an underwriter, the placement Agent would be required to comply with the requirements
of the Securities Act and the Exchange Act, including, without limitation, Rule 415(a)(4) under the Securities Act and Rule 10b-5 and
Regulation M under the Exchange Act. These rules and regulations may limit the timing of purchases and sales of shares by the placement
agent acting as principal. Under these rules and regulations, the placement agent:
●
may
                                            not engage in any stabilization activity in connection with our securities; and
●
may
                                            not bid for or purchase any of our securities or attempt to induce any person to purchase
                                            any of our securities, other than as permitted under the Exchange Act, until it has completed
                                            its participation in the distribution.
Listing
Our
common stock is listed on The Nasdaq Capital Market under the trading symbol "CYN." We do not plan to list the Pre-funded
Warrants or the Warrants on the Nasdaq Capital Market or any other securities exchange or trading market.
Lock-Up
and Market Standoff Agreements
Pursuant
to certain "lock-up" agreements, we, our executive officers, directors, and our 10% and greater stockholders have agreed
not to, for a period of 60 days after the Warrant Stockholder Approval Date, without the prior written consent of the placement agent,
directly or indirectly, offer to sell, sell, pledge or otherwise transfer or dispose of any of shares of (or enter into any transaction
or device that is designed to, or could be expected to, result in the transfer or disposition by any person at any time in the future
of) our common stock or any securities convertible into or exercisable or exchangeable for our common stock, enter into any swap or other
derivatives transaction that transfers to another, in whole or in part, any of the economic benefits or risks of ownership of shares
of our common stock, make any demand for or exercise any right or cause to be filed a registration statement, including any amendments
thereto, with respect to the registration of any shares of common stock or securities convertible into or exercisable or exchangeable
for shares of common stock or any other of our securities or publicly disclose the intention to do any of the foregoing, subject to customary
exceptions.
Right
of First Refusal
We
granted the placement agent a right of first refusal to provide investment banking services to us on an exclusive basis in all matters
for which investment banking services are sought by us for a period commencing on the closing of this offering and ending on the 24-month
anniversary thereof.
25
Specifically,
for a period of 24 months from the closing of this offering, if the Company or its subsidiaries (a) decides to finance or refinance any
indebtedness, Aegis (or any affiliate designated by the placement agent) shall have the right to act as sole book-runner, sole manager,
sole placement agent or sole agent with respect to such financing or refinancing; or (b) decides to raise funds by means of a public
offering (including at-the-market facility) or a private placement or any other capital raising financing of equity, equity-linked or
debt securities, the placement agent (or any affiliate designated by Aegis) shall have the right to act as sole book-running manager,
sole underwriter or sole placement agent for such financing. If Aegis or one of its affiliates decides to accept any such engagement,
the agreement governing such engagement will contain, among other things, provisions for customary fees for transactions of similar size
and nature. The decision to accept the Company's engagement shall be made by placement agent or one of its affiliates, by a written
notice to the Company, within ten (10) days of the receipt of the Company's notification of its financing needs, including a detailed
term sheet.
Other
Relationships
The
placement agent and its respective affiliates may in the future engage in investment banking and other commercial dealings in the ordinary
course of business with us or our affiliates. The placement agent may in the future receive customary fees and commissions for these
transactions.
In
the ordinary course of its various business activities, the placement agent and its affiliates may make or hold a broad array of investments
and actively trade debt and equity securities (or related derivative securities) and financial instruments (including bank loans) for
their own account and for the accounts of its customers, and such investment and securities activities may involve securities and/or
instruments of the issuer. The placement agent and its affiliates may also make investment recommendations and/or publish or express
independent research views in respect of such securities or instruments and may at any time hold, or recommend to clients that they acquire,
long and/or short positions in such securities and instruments.
Discretionary
Accounts
The
placement agent does not intend to confirm sales of the securities offered hereby to any accounts over which it has discretionary authority.
Indemnification
We
have agreed to indemnify the placement agent against certain liabilities, including certain liabilities arising under the Securities
Act, or to contribute to payments that the placement agent may be required to make for these liabilities.
Determination
of Offering Price
The
public offering price of the securities we are offering was negotiated between us and the investors, in consultation with the placement
agent based on the trading of our Common Stock prior to the offering, among other things. Other factors considered in determining the
public offering price of the securities we are offering include our history and prospects, the stage of development of our business,
our business plans for the future and the extent to which they have been implemented, an assessment of our management, general conditions
of the securities markets at the time of the offering and such other factors as were deemed relevant.
Electronic
Offer, Sale and Distribution
This
prospectus in electronic format may be made available on websites or through other online services maintained by the placement agent,
or by its affiliates. Other than this prospectus in electronic format, the information on the placement agent's website and any
information contained in any other website maintained by the placement agent is not part of this prospectus or the registration statement
of which this prospectus forms a part, has not been approved and/or endorsed by us or the placement agent in its capacity as a placement
agent, and should not be relied upon by investors.
Offer
Restrictions Outside the United States
Other
than in the United States, no action has been taken by us or the placement agent that would permit a public offering of the securities
offered by this prospectus in any jurisdiction where action for that purpose is required. The securities offered by this prospectus may
not be offered or sold, directly or indirectly, nor may this prospectus or any other offering material or advertisements in connection
with the offer and sale of any such securities be distributed or published in any jurisdiction, except under circumstances that will
result in compliance with the applicable rules and regulations of that jurisdiction. Persons who come into possession of this prospectus
are advised to inform themselves about and to observe any restrictions relating to the offering and the distribution of this prospectus.
This prospectus does not constitute an offer to sell or a solicitation of an offer to buy any securities offered by this prospectus in
any jurisdiction in which such an offer or a solicitation is unlawful
Transfer
Agent and Registrar
The
transfer agent and registrar for our Common Stock is Continental Stock Transfer & Trust Company.
26
EXPERTS
The
consolidated balance sheets of the Company as of December 31, 2023 and 2022, the related consolidated statements of operations, stockholders'
equity and cash flows for each of the two years in the period ended December 31, 2023 and the related notes, have been audited by Marcum
LLP, the independent registered public accounting firm of the Company, as stated in their report, which includes an explanatory paragraph
as to the Company's ability to continue as a going concern, which is incorporated herein by reference. Such financial statements
have been incorporated herein by reference in reliance on the report of such firm given upon their authority as experts in accounting
and auditing.
LEGAL
MATTERS
Certain
legal matters with respect to the validity of the securities being offered by this prospectus will be passed upon by Sichenzia Ross Ference
Carmel LLP, New York, New York.
The placement agent is being represented by Kaufman & Canoles,
P.C., Richmond, VA, in connection with this offering.
INFORMATION
INCORPORATED BY REFERENCE
The
SEC allows us to "incorporate by reference" information that we file with them. Incorporation by reference allows us to disclose
important information to you by referring you to those other documents. The information incorporated by reference is an important part
of this prospectus, and information that we file later with the SEC will automatically update and supersede this information. We filed
a registration statement on Form S-1 under the Securities Act with the SEC with respect to the securities being offered pursuant to this
prospectus. This prospectus omits certain information contained in the registration statement, as permitted by the SEC. You should refer
to the registration statement, including the exhibits and schedules attached to the registration statement and the information incorporated
by reference, for further information about us and the securities being offered pursuant to this prospectus. Statements in this prospectus
regarding the provisions of certain documents filed with, or incorporated by reference in, the registration statement are not necessarily
complete, and each statement is qualified in all respects by that reference. Copies of all or any part of the registration statement,
including the documents incorporated by reference or the exhibits, may be obtained upon payment of the prescribed rates at the offices
of the SEC listed below in "Where You Can Find More Information." The documents we are incorporating by reference into this
prospectus are:
This
prospectus and any accompanying prospectus supplement incorporate by reference the documents set forth below that have previously been
filed with the SEC:
●
Our
                                            Annual Report on
Form
                                            10-K
for the fiscal year ended December 31, 2023, filed with the SEC on March 7, 2024.
●
Our
                                            Quarterly Report on
Form
                                            10-Q
for the quarter ended March 31, 2024, filed with the SEC on May 9, 2024.
●
Our
                                            Quarterly Report on
Form
                                            10-Q
for the quarter ended June 30, 2024, filed with the SEC on August 8, 2024.
●
Our
                                            Quarterly Report on
Form
                                            10-Q
for the quarter ended September 30, 2024, filed with the SEC on November 7, 2024.
●
Our
                                            Current Reports on Form 8-K filed on
February
                                            21, 2024
,
April
                                            24, 2024
,
May
                                            10, 2024
,
May
                                            17, 2024
,
June
                                            25, 2024
,
July
                                            9, 2024
, and
November
                                            12, 2024
●
The
                                            description of our common stock contained in our Registration Statement on
Form
                                            8-A
, registering our common stock under Section 12(b) under the Exchange Act, filed with
                                            the SEC on October 19, 2021.
We
also incorporate by reference all documents we file pursuant to Section 13(a), 13(c), 14 or 15 of the Exchange Act (other than any portions
of filings that are furnished rather than filed pursuant to Items 2.02 and 7.01 of a Current Report on Form 8-K) after the date of the
initial registration statement of which this prospectus is a part and prior to effectiveness of such registration statement. All documents
we file in the future pursuant to Section 13(a), 13(c), 14 or 15(d) of the Exchange Act after the date of this prospectus and prior to
the termination of the offering are also incorporated by reference and are an important part of this prospectus.
Any
statement contained in a document incorporated or deemed to be incorporated by reference herein shall be deemed to be modified or superseded
for the purposes of this registration statement to the extent that a statement contained herein or in any other subsequently filed document
which also is or deemed to be incorporated by reference herein modifies or supersedes such statement. Any statement so modified or superseded
shall not be deemed, except as so modified or superseded, to constitute a part of this registration statement.
You
may request a copy of these filings, at no cost, by writing or telephoning us at the following address: Cyngn Inc., Attention: Corporate
Secretary, 1015 O'Brien Dr., Menlo Park, CA 94025, phone number (650) 924-5905.
27
WHERE
YOU CAN FIND MORE INFORMATION
We
have filed with the SEC a registration statement on Form S-1 under the Securities Act with respect to the securities offered hereby.
This prospectus, which constitutes a part of the registration statement, does not contain all of the information set forth in the registration
statement or the exhibits and schedules filed therewith. For further information about us and our securities offered hereby, we refer
you to the registration statement and the exhibits and schedules filed therewith. Statements contained in this prospectus regarding the
contents of any contract or any other document that is filed as an exhibit to the registration statement are not necessarily complete,
and each such statement is qualified in all respects by reference to the full text of such contract or other document filed as an exhibit
to the registration statement. The SEC maintains a website that contains reports, proxy and information statements and other information
regarding registrants that file electronically with the SEC. The address is http://www.sec.gov.
We
are subject to the reporting requirements of the Exchange Act, and file annual, quarterly and current reports, proxy statements and other
information with the SEC. You can read our SEC filings, including the registration statement, over the Internet at the SEC's website
.
We
also maintain a website at
http://www.shiftpixy.com
, at which you may access these
materials free of charge as soon as reasonably practicable after they are electronically filed with, or furnished to, the SEC. The information
contained in, or that can be accessed through, our website is not part of this prospectus. You may also request a copy of these filings,
at no cost, by writing or telephoning us at: 1015 O'Brien Dr., Menlo Park, CA 94025, phone number (650) 924-5905.
28
Up
to 3,062,787 Units, with each Unit consisting of:
One
Share of Common Stock
One
Series A Warrant to Purchase One Share of Common Stock
One
Series B Warrant to Purchase One Share of Common Stock
Up
to 3,062,787 Pre-Funded Units, with each Pre-Funded Unit consisting of:
One
Pre-Funded Warrant to Purchase One Share of Common Stock
One
Series A Warrant to Purchase One Share of Common Stock
One
Series B Warrant to Purchase One Share of Common Stock
Up
to 3,062,787 Shares of Common Stock Underlying the Pre-Funded Warrants
Up
to  3,062,787 Shares of Common Stock Underlying the Series A Warrants
Up
to 3,062,787 Shares of Common Stock Underlying the Series B Warrants
Cyngn
Inc.
PRELIMINARY
PROSPECTUS
Aegis
Capital Corp.
,
2024
PART
II
INFORMATION
NOT REQUIRED IN PROSPECTUS
ITEM
13. OTHER EXPENSES OF ISSUANCE AND DISTRIBUTION
The
following table sets forth all costs and expenses, other than the estimated placement agent fees and commissions payable by us, in connection
with the offer and sale of the securities being registered. All amounts shown are estimates except for the SEC registration fee and the
FINRA filing fee.
Amount
SEC registration fee
$
3,062
FINRA filing fee
11,400
Legal fees and expenses
350,000
Accounting fees and expenses
20,000
Transfer agent and registrar fees and expenses
3,000
Miscellaneous fees and
    expenses
10,000
Total
$
397,462
ITEM
14. INDEMNIFICATION OF DIRECTORS AND OFFICERS
Section
102 of the General Company Law of the State of Delaware ("DGCL") permits a Company to eliminate the personal liability of
directors of a Company to the Company or its stockholders for monetary damages for a breach of fiduciary duty as a director, except where
the director breached his duty of loyalty, failed to act in good faith, engaged in intentional misconduct or knowingly violated a law,
authorized the payment of a dividend or approved a stock repurchase in violation of Delaware corporate law or obtained an improper personal
benefit. Our charter provides that no director of the Company shall be personally liable to it or its stockholders for monetary damages
for any breach of fiduciary duty as a director, notwithstanding any provision of law imposing such liability, except to the extent that
the DGCL prohibits the elimination or limitation of liability of directors for breaches of fiduciary duty.
Section
145 of the DGCL provides that a Company has the power to indemnify a director, officer, employee, or agent of the Company, or a person
serving at the request of the Company for another Company, partnership, joint venture, trust or other enterprise in related capacities
against expenses (including attorneys' fees), judgments, fines and amounts paid in settlement actually and reasonably incurred
by the person in connection with an action, suit or proceeding to which he was or is a party or is threatened to be made a party to any
threatened, ending or completed action, suit or proceeding by reason of such position, if such person acted in good faith and in a manner
he reasonably believed to be in or not opposed to the best interests of the Company, and, in any criminal action or proceeding, had no
reasonable cause to believe his conduct was unlawful, except that, in the case of actions brought by or in the right of the Company,
no indemnification shall be made with respect to any claim, issue or matter as to which such person shall have been adjudged to be liable
to the Company unless and only to the extent that the Court of Chancery or other adjudicating court determines that, despite the adjudication
of liability but in view of all of the circumstances of the case, such person is fairly and reasonably entitled to indemnity for such
expenses which the Court of Chancery or such other court shall deem proper.
If
a claim is not paid in full by the Company, the claimant may at any time thereafter bring suit against the Company to recover the unpaid
amount of the claim and, if successful in whole or in part, the claimant shall also be entitled to be paid the expense of prosecuting
such claim. It shall be a defense to any such action (other than an action brought to enforce a claim for expenses incurred in defending
any proceeding in advance of its final disposition where any undertaking required by the Bylaws has been tendered to the Company) that
the claimant has not met the standards of conduct which make it permissible under the DGCL for the Company to indemnify the claimant
for the amount claimed, but the burden of proving such defense shall be on the Company. Neither the failure of the Company (including
its board of directors ("Board"), legal counsel, or its stockholders) to have made a determination prior to the commencement
of such action that indemnification of the claimant is proper in the circumstances because he or she has met the applicable standard
of conduct set forth in the DGCL, nor an actual determination by the Company (including its Board, legal counsel, or its stockholders)
that the claimant has not met such applicable standard of conduct, shall be a defense to the action or create a presumption that the
claimant has not met the applicable standard of conduct. Indemnification shall include payment by the Company of expenses in defending
an action or proceeding in advance of the final disposition of such action or proceeding upon receipt of an undertaking by the person
indemnified to repay such payment if it is ultimately determined that such person is not entitled to indemnification.
II-
1
ITEM
15. RECENT SALES OF UNREGISTERED SECURITIES
Set
forth below is information regarding securities issued by us within the last three years from which were not registered under the Securities
Act of 1933, as amended:
●    
On April 28, 2022 pursuant to a securities purchase agreement with several institutional and accredited investors we sold an aggregate
of (i) 3,790,322 shares of common stock, (ii) pre-funded warrants to purchase up to an aggregate of 2,661,291 shares of common stock,
and (iii) warrants to purchase up to an aggregate of 6,451,613 shares of common stock for gross proceeds to the Company of approximately
$20,000,000. The combined purchase price for one share of common stock and a warrant to purchase one share of common stock was $3.10
and the combined purchase price for one pre-funded warrant to purchase one share of common stock and a warrant to purchase one share
of common stock was $3.099.
●    
On November 12, 2024, the Company entered into a Securities Purchase with certain investors pursuant to which we sold and issued, in
a private placement, senior notes with an aggregate principal amount of $4,375,000 and an aggregate of 405,125 shares of common stock
of the Company, and received proceeds before expenses of $3,500,000.
The
issuance of the securities listed above was deemed exempt from registration under Section 4(a)(2) of the Securities Act or Regulation
D promulgated thereunder in that the issuance of securities were made to an accredited investor and did not involve a public offering.
The recipient of such securities represented its intention to acquire the securities for investment purposes only and not with a view
to or for sale in connection with any distribution thereof.
Item
16. Exhibits and Financial Statement Schedules.
(a)
Exhibits
: Reference is made to the Exhibit Index following the signature pages hereto, which Exhibit Index is hereby incorporated
into this Item.
Exhibit
    Number
Description
3.1
Fourth
    Amended and Restated Certificate of Incorporation of Registrant incorporated by reference to Exhibit 3.1 to the Company's Amendment
    to the Registration Statement on Form S-1 (No. 333-259278) filed with the SEC on October 15, 2021.
3.2
Certificate
    of Amendment to the Fourth Amended and Restated Certificate of Incorporation of Registrant incorporated by reference to Exhibit 3.2
    to the Company's Amendment to the Registration Statement on Form S-1 (No. 333-259278) filed with the SEC on October 15, 2021.
3.3
Second
    Certificate of Amendment to the Fourth Amended and Restated Certificate of Incorporation of Registrant incorporated by reference
    to Exhibit 3.3 to the Company's Amendment to the Registration Statement on Form S-1 (No. 333-259278) filed with the SEC on
    October 15, 2021.
3.4
Third
    Certificate of Amendment to the Fourth Amended and Restated Certificate of Incorporation of Registrant incorporated by reference
    to Exhibit 3.4 to the Company's Amendment to the Registration Statement on Form S-1 (No. 333-259278) filed with the SEC on
    October 15, 2021.
3.5
Fourth
    Certificate of Amendment to the Fourth Amended and Restated Certificate of Incorporation of Registrant incorporated by reference
    to Exhibit 3.5 to the Company's Amendment to the Registration Statement on Form S-1 (No. 333-259278) filed with the SEC on
    October 15, 2021.
3.6
Fifth
    Amended and Restated Certificate of Incorporation of Registrant incorporated by reference to Exhibit 3.6 to the Company's Quarterly
    Report on Form 10-Q filed with the SEC on November 19, 2021.
3.7
Certificate
    of Amendment to the Fifth Amended and Restated Certificate of Incorporation of the Registrant, incorporated by reference to Exhibit
    3.8 to the Company's Amendment to the Registration Statement on Form S-1 (No. 333-275530) filed with the SEC on November 28,
    2023.
3.8
Certificate
    of Amendment to the Fifth Amended and Restated Certificate of Incorporation incorporated by reference to Exhibit 3.1 to the Company's
    Current Report on Form 8-K filed with the SEC on July 9, 2024.
3.9
Amended
    and Restated Bylaws of Registrant, incorporated by reference to Exhibit 3.8 to the Company's Amendment to the Registration
    Statement on Form S-1 (No. 333-259278) filed with the SEC on October 15, 2021.
3.10
Amendment
    No. 1 to Amended and Restated Bylaws, effective May 7, 2024, incorporated by reference to Exhibit 3.1 to the Company's Current
    Report on Form 8-K filed with the SEC on May 10, 2024.
4.1
Description
    of Registrant's Securities (filed as Exhibit 4.1 to the Company's Annual Report on Form 10-K for year ended December
    31, 2021)
4.2*
Form of Pre-Funded Warrant
4.3*
Form of Series A Common Stock Warrant
4.4*
Form of Series B Common Stock Warrant
5.1*
Opinion of Sichenzia Ross Ference Carmell LLP
10.1
Offer
    Letter between the Company and Ben Landen dated as of September 18, 2019 incorporated by reference to Exhibit 10.2 to the Company's
    Amendment to the Registration Statement on Form S-1 (No. 333-259278) filed with the SEC on October 15, 2021.
10.2+
Offer
    Letter between the Company and Donald Alvarez dated as of May 28, 2021 incorporated by reference to Exhibit 10.3 to the Company's
    Amendment to the Registration Statement on Form S-1 (No. 333-259278) filed with the SEC on October 15, 2021.
II-
2
10.3
2013
    Equity Incentive Plan incorporated by reference to Exhibit 10.4 to the Company's Amendment to the Registration Statement on
    Form S-1 (No. 333-259278) filed with the SEC on October 15, 2021.
10.4
2021
    Incentive Plan incorporated by reference to Exhibit 10.5 to the Company's Amendment to the Registration Statement on Form S-1
    (No. 333-259278) filed with the SEC on October 15, 2021.
10.5
Amendment
    to 2021 Equity Incentive Plan incorporated by reference to Exhibit 4.2 to the Company's Registration Statement on Form S-8
    filed with the SEC on January 31, 2024.
10.6
Amendment
    to 2021 Equity Incentive Plan incorporated by reference to the Company's Proxy Statement filed with the Securities and Exchange
    Commission on May 21, 2024.
10.7
Second
    Amended and Restated Investors' Rights Agreement dated as of December 24, 2014 incorporated by reference to Exhibit 10.6 to
    the Company's Amendment to the Registration Statement on Form S-1 (No. 333-259278) filed with the SEC on October 15, 2021.
10.8+
Form
    of Indemnification Agreement to be entered into with the Registrant and each of its officers and directors incorporated by reference
    to Exhibit 10.7 to the Company's Amendment to the Registration Statement on Form S-1 (No. 333-259278) filed with the SEC on
    October 15, 2021.
10.9+
Employment
    Agreement by and between Cyngn Inc. and Lior Tal dated as of January 1, 2022 incorporated by reference to Exhibit 10.1 to the Company's
    Current Report on Form 8-K filed with the SEC on January 6, 2022.
10.10
Engagement
    Letter dated April 27, 2022 incorporated by reference to Exhibit 10.1 to the Company's Current Report on Form 8-K filed with
    the SEC on April 29, 2022.
10.11
Form
    of Securities Purchase Agreement incorporated by reference to Exhibit 10.2 to the Company's Current Report on Form 8-K filed
    with the SEC on April 29, 2022.
10.12
Form
    of Warrant incorporated by reference to Exhibit 10.3 to the Company's Current Report on Form 8-K filed with the SEC on April
    29, 2022.
10.13
Form
    of Registration Rights Agreement incorporated by reference to Exhibit 10.4 to the Company's Current Report on Form 8-K filed
    with the SEC on April 29, 2022.
10.14
Form
    of Pre-Funded Warrants incorporated by reference to Exhibit 10.5 to the Company's Current Report on Form 8-K filed with the
    SEC on April 29, 2022.
10.15
ATM
    Sales Agreement by and between the Company and Virtu Americas LLC, dated May 31, 2023 incorporated by reference to Exhibit 1.2 to
    the Company's Registration Statement on Form S-3 filed with the SEC on May 31, 2023
10.16
Placement
    Agent Agreement between the Company and Aegis Capital Corp. dated December 8, 2023 incorporated by reference to Exhibit 10.1 to the
    Company's Current Report on Form 8-K filed with the SEC on December 11, 2023
10.17
Form
    of Pre-funded Warrant incorporated by reference to Exhibit 10.2 to the Company's Current Report on Form 8-K filed with the
    SEC on December 11, 2023
10.18+
Form
    of Severance and Change of Control Agreement incorporated by reference to Exhibit 10.17 to the Company's Annual Report on Form
    10-K filed with the SEC on March 7, 2024
10.19+
Severance
    and Change of Control Agreement by and between Cyngn Inc. and Donald Alvarez dated May 15, 2024 incorporated by reference to Exhibit
    10.1 to the Company's Current Report on Form 8-K filed with the SEC on May 17, 2024.
10.20
Form
    of Securities Purchase Agreement dated November 12, 2024 incorporated by reference to Exhibit 10.1 to the Company's Current
    Report on Form 8-K filed with the SEC on November 12, 2024.
10.21
Form
    of Note dated November 12, 2024 incorporated by reference to Exhibit 10.2 to the Company's Current Report on Form 8-K filed
    with the SEC on November 12, 2024.
10.22
Form
    of Registration Rights Agreement dated November 12, 2024 incorporated by reference to Exhibit 10.3 to the Company's Current
    Report on Form 8-K filed with the SEC on November 12, 2024.
10.23
Form
    of Lock-Up Agreement incorporated by reference to Exhibit 10.4 to the Company's Current Report on Form 8-K filed with the SEC
    on November 12, 2024.
10.24
Form
    of Placement Agent Agreement incorporated by reference to Exhibit 10.5 to the Company's Current Report on Form 8-K filed with
    the SEC on November 12, 2024.
10.25*
Form of Placement Agent Agreement
21.1
List
    of Subsidiaries of the Registrant incorporated by reference to Exhibit 21.1 to the Company's Annual Report on Form 10-K filed
    with the SEC on March 7, 2024.
23.1*
Consent of Marcum LLP
23.2*
Consent of Sichenzia Ross Ference Carmel LLP (included in Exhibit 5.1)
24.1
Power
    of Attorney (included on the signature page)
107
Filing Fee
+
Indicates
                                            management contract or compensatory plan.
*
Filed
                                            herewith.
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3
Item
17. Undertakings.
The
undersigned registrant hereby undertakes:
(1)
To file, during any period in which offers or sales are being made, a post-effective amendment to this registration statement:
(i)
To include any prospectus required by section 10(a)(3) of the Securities Act of 1933, as amended (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 Securities and Exchange Commission pursuant to Rule 424(b) if, in the aggregate,
the changes in volume and price represent no more than a 20 percent 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 (1)(i), (1)(ii) and (1)(iii)
above do not apply if the information required to be included in a post-effective amendment by those paragraphs is contained in reports
filed with or furnished to the Securities and Exchange Commission by the registrant pursuant to Section 13 or Section 15(d) of the Securities
Exchange Act of 1934 that are incorporated by reference in the registration statement, or is contained in a form of prospectus filed
pursuant to Rule 424(b) that is part of the registration statement.
(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.
(4)
That, for the purpose of determining liability under the Securities Act to any purchaser:
(A)
Each prospectus filed by the registrant pursuant to Rule 424(b)(3) shall be deemed to be part of the registration statement as of the
date the filed prospectus was deemed part of and included in the registration statement; and
(B)
Each prospectus filed pursuant to Rule 424(b) as part of a registration statement relating to an offering, other than registration statements
relying on Rule 430B or other than prospectuses filed in reliance on Rule 430A, shall be deemed to be part of and included in the registration
statement as of the date it is first used after effectiveness. Provided, however, that no statement made in a registration statement
or prospectus that is part of the registration statement or made in a document incorporated or deemed incorporated by reference into
the registration statement or prospectus that is part of the registration statement will, as to a purchaser with a time of contract of
sale prior to such first use, supersede or modify any statement that was made in the registration statement or prospectus that was part
of the registration statement or made in any such document immediately prior to such date of first use.
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4
(5)
That for the purpose of determining liability of the registrant under the Securities Act to any purchaser in the initial distribution
of securities, the undersigned registrant undertakes that in a primary offering of securities of the undersigned registrant pursuant
to this registration statement, regardless of the underwriting method used to sell the securities to the purchaser, if the securities
are offered or sold to such purchaser by means of any of the following communications, the undersigned registrant will be a seller to
the purchaser and will be considered to offer or sell such securities to such purchaser:
(i)
Any preliminary prospectus or prospectus of the undersigned registrant relating to the offering required to be filed pursuant to Rule
424;
(ii)
Any free writing prospectus relating to the offering prepared by or on behalf of the undersigned registrant or used or referred to by
the undersigned registrant;
(iii)
The portion of any other free writing prospectus relating to the offering containing material information about the undersigned registrant
or its securities provided by or on behalf of the undersigned registrant; and
(iv)
Any other communication that is an offer in the offering made by the undersigned registrant to the purchaser.
Insofar
as indemnification for liabilities arising under the Securities Act may be permitted to directors, officers and controlling persons of
the registrant pursuant to any charter provision, by law or otherwise, the registrant has been advised that in the opinion of the Securities
and Exchange 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 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.
The
undersigned registrant hereby undertakes that:
(1)
For purposes of determining any liability under the Securities Act, the information omitted from the form of prospectus filed as part
of this registration statement in reliance upon Rule 430A and contained in a form of prospectus filed by the registrant pursuant to Rule
424(b)(1) or (4) or 497(h) under the Securities Act shall be deemed to be part of this registration statement as of the time it was declared
effective.
(2)
For the purpose of determining any liability under the Securities Act, each post-effective amendment that contains a form of prospectus
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.
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5
SIGNATURES
Pursuant
to the requirements of the Securities Act of 1933, the registrant has duly caused this Registration Statement to be signed on its behalf
by the undersigned, thereunto duly authorized in the City of Menlo Park, State of California, on November 27, 2024.
CYNGN INC.
By:
/s/
    Lior Tal
Lior Tal
Chief
        Executive Officer
(Principal
    Executive Officer)
POWER
OF ATTORNEY
KNOW
ALL PERSONS BY THESE PRESENTS, that each person whose signature appears below constitutes and appoints Lior Tal and Donald Alvarez, and
each one of them, as their true and lawful attorney-in-fact, with full power of substitution and re-substitution for them and their and
in their name, place and stead, in any and all capacities to sign any and all amendments including pre- and post-effective amendments
to this registration statement, any subsequent registration statement for the same offering which may be filed pursuant to Rule 462(b)
under the Securities Act of 1933, as amended, and pre- or post-effective amendments thereto, and to file the same, with all exhibits
thereto, and other documents in connection therewith, with the Securities and Exchange Commission, hereby ratifying and confirming all
that said attorney-in-fact or his substitute, each acting alone, may lawfully do or cause to be done by virtue thereof.
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 dates indicated.
Name
Position
Date
/s/ Lior
    Tal
Chief Executive Officer,
    Chairman and Director
November
    27, 2024
Lior Tal
(Principal Executive Officer)
/s/ Donald
    Alvarez
Chief
    Financial Officer
November
    27, 2024
Donald Alvarez
(Principal Financial and Accounting Officer)
/s/ Karen
    Macleod
Director
November
    27, 2024
Karen Macleod
/s/ Colleen
    Cunningham
Director
November
    27, 2024
Colleen Cunningham
/s/ James
    McDonnell
Director
November
    27, 2024
James McDonnell
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