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
As of August 19, 2022, the Company's Common Stock is currently quoted for trading on the OTCQB Market under the symbol "BMTM." Prior to August 19, 2022, the Company’s Common Stock was quoted for trading on the OTC Expert Market tier of the OTC Markets under the symbol “BMTM” from September 30, 2021 through August 18, 2022, quoted for trading on the OTC Pink Market under the symbol "BMTM" from July 1, 2021 to September 30, 2021, and quoted for trading on the OTCQB Market under the symbol “BMTM” from December 27, 2013 to June 30, 2021.
There was little to no trading of our common stock between January 1, 2022 to July 4, 2022, except for April 22, 2022, as the Company was in the process of restating its results for the year ended December 31, 2020, which resulted in the untimely filing of its results for the year ended December 31, 2021 and the subsequent interim quarter ended March 31, 2022.
The Company’s Common Stock trades at very low volumes. The approximate number of holders of record of the Company’s Common Stock as of March 22, 2023, was 404. The closing price of our Common Stock as reported on the OTCQB Market on December 30, 2022, was $0.16 per share.
The following table sets forth the high and low bid prices per share of our Common Stock as reported by the OTC Markets for the periods indicated. The following quotations reflect inter-dealer prices, without retail mark-up, markdown or commission, and may not necessarily represent actual transactions.
December 31, 2022
High Low
1st Quarter (1)
$ — $ —
2nd Quarter (2)
$ 0.001 $ 0.001
3rd Quarter $ 0.40 $ 0.40
4th Quarter $ 0.16 $ 0.16
December 31, 2021
High Low
1st Quarter $ 2.00 $ 2.00
2nd Quarter $ 0.45 $ 0.45
3rd Quarter $ 0.23 $ 0.23
4th Quarter (1)
$ — $ —
(1) No trading as Company was in restatement period.
(2) Limited trading as Company was in restatement period.
Dividend Policy
The Company has paid or accrued dividends on shares of preferred stock pursuant to the terms of such preferred stock. The Company has never declared nor paid any cash dividends on its Common Stock, and we do not expect to pay any cash dividends in the foreseeable future. We currently intend to retain all available funds and any future earnings to fund the development and growth of our business. The decision whether to pay cash dividends on our Common Stock will be made within the sole discretion of the Board, and will depend on the Company’s financial condition, results of operations, capital requirements and other factors that the Board considers significant. There can be no assurance that any dividends on our Common Stock will ever be paid. In addition, any future loan arrangements we enter into may contain, terms prohibiting or limiting the amount of dividends that may be declared or paid on our Common Stock.
Recent Sales of Unregistered Securities
None.
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Repurchases of Equity Securities
None.
ITEM 6. RESERVED