On January 25, 2023, Socket Mobile entered into the Second Business Financing Modification Agreement and Waiver of Defaults (the Financing Agreement") with Western Alliance Bank, an Arizona corporation (Lender"), which among other things, extends the maturity date of the Company's $2.0 million domestic and $0.5 million EXIM revolving credit facilities to January 31, 2025. The Financing Agreement also waives the events of default as a result of noncompliance of the required financial performance in Third Quarter 2022. The original Financing Agreement was dated February 27, 2014 with subsequent modifications dated February 26, 2016, March 20, 2017, January 31, 2018, June 4, 2018, July 30, 2018, June 14, 2019, January 29, 2021, and February 9, 2022.