Item 5. Market for Registrant’s Common Equity
ITEM
5. MARKET FOR REGISTRANT’S COMMON EQUITY, RELATED SHAREHOLDER MATTERS AND ISSUER PURCHASES OF EQUITY SECURITIES
The
Company’s Common Stock currently trades on the NASDAQ Capital Markets under the symbol “CETX.”
As
of December 23, 2022, the Company had 64 shareholders of record. This amount does not take into account shareholders whose shares are
held in “street name” by brokerage houses or other intermediaries.
The
Company is authorized to issue 10,000,000 shares of preferred stock, par value $0.001 and 50,000,000 shares of common stock, $0.001 par
value per share. On December 23, 2022, there were 27,778,856 shares of common stock issued and outstanding, 2,183,463 shares of Series
1 preferred stock issued and 2,119,363 shares outstanding, and 50,000 shares of Series C preferred stock issued and outstanding.
As
reported by NASDAQ Capital Markets, on December 23, 2022, the closing sales price of the Company’s Common Stock was $0.10 per share.
Dividend
Policy
Our
board of directors declared a one-time cash dividend on our common stock in April 2017. The terms of our series 1 preferred stock provide
for the payment of semiannual dividends on the last day of March and September in each year, which began in March 2017. No other cash
dividends have been declared or paid by us on our stock during either of the two most recent fiscal years or the period through the date
of this prospectus. Other than with respect to our series 1 preferred stock, our board of directors declares dividends when, in its discretion,
it determines that a dividend payment, as opposed to another use of cash, is in the best interests of the stockholders. Such decisions
are based on the facts and circumstances then existing including, without limitation, our results of operations, financial condition,
contractual restrictions, restrictions imposed by applicable law and other factors our board of directors deems relevant. As a result,
we cannot predict when, or whether, another dividend on our common stock will be declared in the future.
Securities
Authorized for Issuance under Equity Compensation Plans
The
following table presents certain information as of September 30, 2022, regarding our equity compensation plans:
Plan
category
Number
of Common Stock Shares to be Issued upon Exercise of Outstanding Options
Weighted
Average Exercise Price of Outstanding Options
Number
of Securities Remaining Available for Future Issuance under Plans (1)
(a)
(b)
(c)
Approved by security holders
2020 Equity
Compensation Plan
410,260
$ 0.39
1,589,740
Not approved by security holders
Options
800,000
$ 1.82
Total
1,210,260
$ 1.34
1,589,740
(1)
See
more detailed information regarding our equity compensation plans in the Notes to Consolidated Financial Statements in this 2022
Form 10-K.
23
Recent
Sales of Unregistered Securities
The
information set forth below relates to our issuances of securities without registration under the Securities Act of 1933 during the reporting
period which were not previously included in an Annual Report on Form 10-K, Quarterly Report on Form 10-Q or Current Report on Form 8-K.
For
the fiscal year ended September 30, 2022, 193,971 shares of Series 1 Preferred Stock were issued to pay dividends to holders of Series
1 Preferred Stock.
For
the fiscal year ended September 30, 2022, we issued 5,481,102 shares of common stock to satisfy $4,688,524 of notes payable and accumulated
interest.
On
December 16, 2022, 1,365,560 shares of common stock were issued to satisfy $200,000 of notes payable and accumulated interest.
These
securities were issued pursuant to Section 4(2) of the Securities Act and/or Rule 506 promulgated thereunder. The holders represented
their intention to acquire the securities for investment only and not with a view towards distribution. The investors were given adequate
information about us to make an informed investment decision. We did not engage in any general solicitation or advertising. We directed
our transfer agent to issue the stock certificates with the appropriate restrictive legend affixed to the restricted stock.
ITEM
6. SELECTED FINANCIAL DATA
Not
required under Regulation S-K for “smaller reporting companies
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