Material Event (Form 8-K)

Item 8.01. Other Events.

Conversion of Series A Convertible Preferred Stock

As previously disclosed, Impact BioMedical Inc. (the "Company") filed a certificate of designation of Series A Convertible Preferred Stock, dated October 30, 2023 (the "Certificate of Designation"). Pursuant to Section 6 of that certain Certificate of Designation, DSS BioHealth Security, Inc. has elected to convert the Series A Convertible Preferred Stock into shares of common stock, $0.001 par value per share (the "Common Stock") of the Company. Section 6 of the Certificate of Designation provides for an Optional Conversion on behalf of the holder at any time seventy-five (75) days after the issuance into one share of the Company's Common Stock.

In connection with the above, DSS BioHealth Security, Inc. shall be deemed the record holder of the 60,496,041 shares of Common Stock that are issuable pursuant to the aforementioned conversion.