Item 2. Unregistered Sales of Equity Securities
ITEM
2. UNREGISTERED SALES OF EQUITY SECURITIES AND USE OF PROCEEDS
The
following issuances of our securities during the three-month period ended June 30, 2023 were exempt from the registration requirements
of the Securities Act of 1933 pursuant to Section 4(a)(2) thereof and/or Rule 506 of Regulation D promulgated thereunder.
On
June 12, 2023, we issued senior secured promissory notes in aggregate principal amount of $170,000 and stock purchase warrants to four
accredited investors. The principal balance of the notes was paid in full during the second quarter of 2023. The stock purchase warrants
have an exercise price of $6.00 per share and are exercisable up to ten years from the issuance date of July 1, 2023. The aggregate number
of shares available for purchase under the warrants is 30,000 shares.
ITEM 3. DEFAULTS
UPON SENIOR SECURITIES.
None
ITEM 4. MINE SAFETY
DISCLOSURES
None.
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