Item 2. Unregistered Sales of Equity Securities
Item
2. Unregistered Sales of Equity Securities and Use of Proceeds
During the period covered by this report, the
Company has not issued unregistered securities to any person, except as described below. None of these transactions involved any underwriters,
underwriting discounts or commissions, except as specified below, or any public offering, and, unless otherwise indicated below, the Registrant
believes that each transaction was exempt from the registration requirements of the Securities Act by virtue of Section 4(a)(2)
thereof and/or Rule 506 of Regulation D promulgated thereunder, and/or Regulation S promulgated thereunder
regarding offshore offers and sales. All recipients had adequate access, though their relationships with the Registrant, to information
about the Registrant.
On January 10, 2023, we held a second close
of a private placement, pursuant to which we issued an aggregate of 214,667 shares of our common stock for aggregate gross proceeds
of $644,000. On March 31, 2023, we held the third closing of a private placement, pursuant to which we issued an aggregate of
715,665 shares of our common stock for aggregate gross proceeds of $2,147,000. Accordingly, as of March 31, 2023, the Company received gross proceeds of $4,342,000, pursuant to the Offering.
Item
3. Defaults upon Senior Securities
None.
Item 4.
Mine Safety Disclosures
Not applicable.
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