Item 5. Market for Registrant’s Common Equity
ITEM
5.
Market for Registrant’s Common Equity, Related Stockholder
Matters and Issuer Purchases of Equity Securities.
Market
Information
Our
common stock is listed and traded on the NYSE American under the symbol AIM.
Holders
of Common Stock
As
of March 25, 2023, there were approximately 150 holders of record of our Common Stock. This number was determined from records maintained
by our transfer agent and does not include beneficial owners of our securities whose securities are held in the names of various dealers
and/or clearing agencies.
Securities
Authorized for Issuance Under Equity Compensation Plans
Information
about securities authorized for issuance under our equity compensation plans is incorporated herein by reference to Item 12 of Part III
of this Annual Report.
Dividends
We
have not paid any cash dividends on our Common Stock in recent years. It is management’s intention not to declare or pay dividends
on our Common Stock, but to retain earnings, if any, for the operation and expansion of our business.
Recent
Sales of Unregistered Securities
2018
Equity Incentive Plan
During
the year ended December 31, 2022, we issued a total of 850,000 options under the 2018 Equity Incentive Plan, effective September 12,
2018, which will continue in effect for a period of 10 years from its effective date.
During
the year ended December 31, 2023, we issued a total of 400,000 options under the 2018 Equity Incentive Plan, effective September 12,
2018, which will continue in effect for a period of 10 years from its effective date.
Employees
and Directors Purchase Plan
On
July 7, 2020, the board of directors approved a plan pursuant to which all directors, officers, and employees could purchase from us
up to an aggregate of $500,000 worth of shares at the market price. Pursuant to NYSE American rules, this plan was effective for a sixty-day
period commencing upon the date that the NYSE American approved our Supplemental Listing Application. We issued 10,730 shares of our
common stock at a price of $2.33 for a total of $25,000 under this plan. When this plan expired, the board of directors approved subsequent
similar $500,000 plans for all directors, officers and employees to buy shares from us at the market price. Subsequent plans were approved
by the board of directors upon the expiration of prior plans. The last plan approved by the Board of Directors for the fiscal year ended
December 31, 2023, was on October 26, 2023.
During
the fiscal year ended December 31, 2022, we issued a total of 86,817 shares of our common stock at prices ranging from $0.76 to $1.02
for a total of $80,000 under the plan.
During
the fiscal year ended December 31, 2023, we issued a total of 419,285 shares of our common stock at prices ranging from $0.31 to $0.67
for a total of $150,500 under the plan.
In March 2024, we sold 204,547
and 38,462 shares of our common stock at prices of $0.33 and $0.39 per share, respectively, under the plan.
Azenova
On
December 6, 2023, the Company issued to Azenova, LLC, an option to purchase up to three hundred and sixty thousand (360,000) shares of
our “Common Stock” at a price equal to $0.46 per share. This Option was awarded pursuant to the Consulting Agreement dated
October 16, 2023 between the Company and Azenova, LLC. On December 6, 2023, 180,000 options were transferred to Jeffrey Southerton and
180,000 options were transferred to Stacy J. Evans; both transfers with an exercise price of $0.46.
The
offers, sales and issuances of securities described above was deemed to be exempt from registration under the Securities Act in reliance
on either Section 4(a)(2) in that the issuance of securities to the accredited investors did not involve a public offering, or Rule 701
in that the transactions were under compensatory benefit plans and contracts relating to compensation as provided under Rule 701.
37
ITEM
6.
[Reserved]