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
The Company’s common stock is listed on the NYSE American under the symbol “ISR” and as of September 21, 2020 there were 68,897,779 shares outstanding.
The high and low sale prices as reported on the NYSE American for each quarter during the last two fiscal years are as follows:
Fiscal 2020
Q1
Q2
Q3
Q4
High
$
0.43
$
0.78
$
1.06
$
1.00
Low
$
0.31
$
0.29
$
0.51
$
0.43
Fiscal 2019
Q1
Q2
Q3
Q4
High
$
1.07
$
0.52
$
0.46
$
0.47
Low
$
0.43
$
0.27
$
0.32
$
0.37
Holders
As of September 21, 2020, there were approximately 214 common stockholders of record. The number of common stockholders was determined from the records of our stock transfer agent and does not reflect persons or entities that hold their shares in nominee or “street” name through various brokerage firms.
Dividends
The Company has never paid cash dividends on its common stock and does not plan to pay cash dividends on its common stock in the foreseeable future. Our Board of Directors anticipates that any earnings that might be available to pay dividends will be retained to finance operations.
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Securities Authorized for Issuance Under Equity Compensation Plans
On December 10, 2019, the Company's Stockholders approved the Company's 2020 Equity Incentive Plan (2020 Incentive Plan). The 2020 Incentive Plan allows the Board of Directors to grant up to 6,000,000 shares of common stock to directors, officers, employees and consultants in a combination of equity incentive forms including incentive stock options (ISO), non-qualified stock options (NQSO), stock appreciation right (SAR) or restricted shares (RSU) of common stock, provided that, no more than 3,000,000 shares of common stock may be granted as ISOs.
On June 15, 2017, the Company's Stockholders approved the Company's 2017 Equity Incentive Plan (2017 Incentive Plan). The 2017 Incentive Plan allows the Board of Directors to grant up to 4,000,000 shares of common stock to directors, officers, employees and consultants in a combination of equity incentive forms including incentive stock options (ISO), non-qualified stock options (NQSO), stock appreciation rights (SAR) or restricted shares (RSU) of common stock.
Options granted under both plans have a ten year maximum term, an exercise price equal to at least the fair market value of the Company’s common stock (based on the trading price on the NYSE American) on the date of the grant, and with varying vesting periods as determined by the Board.
As of June 30, 2020 the following options had been granted under the 2020 Incentive Plan, the 2017 Incentive Plan and under prior stock option plans that have now expired.
Plan Category
Number of
securities to
be issued on
exercise of
outstanding
options,
warrants,
and rights
(a)
Weighted-
average
exercise
price of
outstanding
options,
warrants,
and rights
(b)
Number of
securities
remaining
available for
future
issuance
under equity
compensation
Plans
(excluding securities
in columns (a)
and (b)
Equity compensation plans approved by security holders
4,892,190
$
0.54
4,730,625
Equity compensation plans not approved by security holders
605,315
$
1.25
-
Total
5,497,505
$
0.62
4,730,625
Performance Graph
As a smaller reporting company, the Company is not required to provide a performance graph.
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Sales of Unregistered Securities
Our sales of unregistered securities have been previously reported in our reports on Forms 8-K and 10-Q and filed with the SEC.
Issuer Purchases of Equity Securities
None.
ITEM 6 – SELECTED FINANCIAL DATA
As a smaller reporting company, the Company is not required to provide Item 6 disclosure in this Annual Report.
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