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• Commercial Real Estate Ownership: The company owns and operates commercial real estate properties in the United States and China.
• Medical Consulting Services: Provides medical-related consulting, including research studies, executive education, and expert advisory services in immunotherapy and second opinions.
• CAR-T Cell Therapy Candidates (AVA-001 & AVA-011): Develops AVA-001 for relapsed/refractory B-cell lymphoblastic leukemia and AVA-011, both in clinical or pre-clinical development stages.
• RNA-based FASH-CARTM Cell Therapy Platform: A proprietary platform under development for generating cell therapies.
• Avalon Clinical-Grade Tissue-Specific Exosome (ACTEX): A developed product focusing on clinical-grade exosomes.
• QTY-code Protein Design Technology Applications: Utilizes QTY-code protein design for developing therapeutic and diagnostic targets, such as a hemofiltration device for Cytokine Storm.
• Next-Generation Immune Effector Cell Therapies Co-development: Collaborates on developing advanced transposon-based CAR-T, CAR-NK, and other immune cell therapies.
• S-layer Vaccine against SARS-CoV-2: Engages in the co-development of an S-layer vaccine for intranasal or oral administration against COVID-19.
• Avalon Cell and Avalon Rehab: Specific initiatives developed by the company, potentially related to cell therapy and rehabilitation.

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Meng Li, Interim Chief Executive Officer and Chief Operating Officer

Ms. Li has over 15 years of executive experience in international marketing, branding, communications, and media investment consultancy. She served on Avalon GloboCare's board from October 2017 to July 2018 and was re-appointed in February 2019. Prior to her current role, she was a Managing Director at Maxus/GroupM (a WPP Group company) from 2006 to 2015, responsible for business P&L and corporate management. From 2000 to 2006, she worked as a Senior Manager at Zenith Media (a Publicis Group company).

Sam Knipper, Chief Financial Officer

Mr. Knipper was appointed Chief Financial Officer, effective June 1, 2026. He brings significant experience in financial reporting, capital markets, SEC compliance, and strategic finance, particularly across emerging growth companies, Special Purpose Acquisition Companies (SPACs), and public company environments. Most recently, he served as an outsourced CFO for a private AI company through Brio Financial Group, where he contributed to IPO readiness initiatives, audit compliance, financial strategy, and a $40 million equity financing transaction. His previous experience includes finance and accounting roles at Calabrese Consulting, Cantor Fitzgerald, and KPMG.

Luisa Ingargiola, Chief Strategy Officer

Ms. Ingargiola transitioned to Chief Strategy Officer on June 1, 2026, after serving as the company's Chief Financial Officer since February 2017. She possesses extensive experience, having served as Chief Financial Officer or Audit Chair for multiple NASDAQ and NYSE-listed companies.

Wenzhao Lu, Chairman of the Board

Mr. Lu is a seasoned healthcare entrepreneur with extensive operational experience in China. He has served as Chairman of the Board for the DaoPei Medical Group (DPMG) since 2010, where he led the expansion of its clinical network. Before joining DPMG, Mr. Lu was Chief Operating Officer for BioTime Asia Limited, a subsidiary of BioTime, Inc., in 2009.

Michael Mathews, Director

Mr. Mathews has served as Chairman and Chief Executive Officer of Aspen Group, Inc. since March 2012. He previously held the position of Chief Executive Officer of Interclick, Inc. from August 2007 until January 2011, and also served as a Director from June 2007 until its acquisition by Yahoo, Inc. in December 2011. From 2004 to 2007, he was the senior vice-president of marketing and publisher services for World Avenue U.S.A., LLC.

The following are key risks to Change Agents (CHGA):

Intense Competition and Rapid Technological Obsolescence in the AI Software Market

The artificial intelligence (AI) software industry is characterized by intense competition and rapid technological advancements. Change Agents Corp., with its focus on agentic AI applications like Beacon and Catch-Up, faces a significant risk that its platforms could quickly become outdated or be outmaneuvered by superior solutions from numerous established tech companies and innovative startups. Maintaining a competitive edge requires continuous, rapid innovation and substantial investment in research and development.

Customer Adoption, Market Acceptance, and Revenue Generation

As a newly transformed pure-play AI software-as-a-service (SaaS) company, Change Agents Corp. faces the challenge of securing widespread customer adoption and market acceptance for its AI platforms among its target audience of small businesses, brands, and content creators. The success of its business model hinges on its ability to effectively market its solutions, acquire new subscribers, and generate sufficient recurring revenue. Failure to gain significant traction and scale its customer base presents a critical risk to its long-term viability.

Financial Sustainability and Capital Requirements

Change Agents Corp. faces risks related to its financial sustainability and the significant capital required to operate in the competitive AI development landscape. Recent reports for its predecessor, Avalon GloboCare Corp. (now Change Agents Corp.), indicated a limited cash runway, substantial shareholder dilution, and low revenue, suggesting financial strain. The company's ability to fund ongoing development, marketing, and operational expenses, especially in a capital-intensive sector, is a key risk.

The company's development of CAR-T cell therapies, such as AVA-001 and AVA-011, faces a clear emerging threat from the dominance and continuous innovation of already approved and established CAR-T therapies from major pharmaceutical companies like Novartis, Gilead Sciences, and Bristol Myers Squibb. These existing treatments have secured significant market share and set high benchmarks for efficacy and safety, making it challenging for later entrants like Change Agents to gain market traction unless their candidates demonstrate substantial differentiation or superiority.

Here are the addressable market sizes for Change Agents' (CHGA) main products and services:

• Commercial Real Estate Properties: The global commercial real estate market size was valued at USD 15.2 trillion in 2025 and is projected to reach USD 15.9 trillion in 2026, with further growth to USD 22.8 trillion by 2034. In the United States, the commercial real estate market size was valued at USD 1.72 trillion in 2026 and is projected to reach USD 2.18 trillion by 2034.
• Medical Related Consulting Services: The global healthcare consulting market size was estimated at USD 31.52 billion in 2025 and is projected to reach USD 77.19 billion by 2035. For the U.S. market, the size was USD 21.9 billion in 2026 and is expected to reach USD 31.48 billion by 2035.
• CAR-T Cell Therapies (AVA-001, AVA-011, RNA-based FASH-CARTM, CAR-NK): The global CAR-T cell therapy market size is projected to be around USD 10.92 billion in 2026 and is expected to reach USD 19.25 billion by 2034. Other estimates suggest the global market could reach up to USD 62.2 billion by 2035. In the U.S., the CAR-T cell therapy market is projected to reach USD 7.71 billion by 2026 and USD 42.61 billion by 2035.
• Exosome Therapeutics (Avalon clinical-grade tissue-specific exosome (ACTEX)): The global exosome therapeutics market is projected to grow from approximately USD 1.09 million in 2026 to USD 4.56 million by 2035. More broadly, the global market for exosome diagnostics, therapeutics, and research tools is estimated to grow from USD 227.5 million in 2023 to USD 1.3 billion by 2028, with some projections for exosome diagnostics and therapeutics reaching up to USD 6.8 billion by 2032.
• QTY-code protein design technology (hemofiltration device to treat Cytokine Storm): The global hemofiltration machine market size is likely to be valued at US$1.8 billion in 2026 and is expected to reach US$2.6 billion by 2033. The global hemodiafiltration device market, a related segment, was valued at USD 4.8 billion in 2025 and is projected to reach USD 9.1 billion by 2034. North America is projected to dominate the hemofiltration machine market with a 45% share in 2026.
• S-layer vaccine against SARS-CoV-2 and coronavirus (COVID-19 Vaccine): The global COVID-19 vaccines market expanded from USD 260.10 billion in 2025 to USD 285.30 billion in 2026 and is projected to reach USD 543.57 billion by 2032.
• Avalon Cell and Avalon Rehab (Medical Rehabilitation Services): The global medical rehabilitation services market is estimated to be around USD 283.83 billion in 2026 and is projected to expand to USD 526.7 billion by 2034. North America leads this market, commanding 42.5% of worldwide revenue in 2025.

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The following is a summary of capital allocation decisions for Change Agents (CHGA), formerly Avalon GloboCare Corp. (ALBT), over the last 3-5 years:

Share Issuance

• In February 2026, Avalon GloboCare Corp. completed a private placement, generating approximately $3.25 million in gross proceeds through the issuance and sale of common stock and associated warrants. This offering also included potential additional gross proceeds of around $6.5 million upon the full exercise of these warrants.
• In April 2026, the company issued 1,649,353 shares of its common stock upon the cash exercise of outstanding pre-funded warrants, resulting in aggregate proceeds of $165,000.
• Between December 31, 2025, and March 31, 2026, the number of outstanding common shares for Avalon GloboCare Corp. increased significantly from 4,854,009 to 8,323,609.

Inbound Investments

• Avalon GloboCare Corp. received approximately $3.25 million in gross proceeds from a private placement in February 2026, with the potential for an additional $6.5 million if all associated warrants are fully exercised.

Outbound Investments

• In February 2023, Avalon GloboCare Corp. acquired a 40% membership interest in Laboratory Services MSO, LLC.
• The strategic transformation and rebranding of the company to Change Agents Corp., focusing on agentic AI software, builds upon the acquisition of RPM Interactive.