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
Until
January 13, 2022, our common stock was traded under OTC Market Group’s OTCQB. Since January 13, 2022, our common stock has been
listed for trading on The Nasdaq Stock Market LLC under the symbol “CISO”
As
of December 31, 2023, there were 765 holders of record of our common stock, and the last reported sale price of our common stock on
The Nasdaq Stock Market LLC on April 2, 2024 was $1.28. A significant number of shares of our common stock are held in either
nominee name or street name brokerage accounts, and consequently, we are unable to determine the total number of beneficial owners
of our common stock.
Dividend
Policy
To
date, we have paid no dividends on our common stock and do not expect to pay cash dividends in the foreseeable future. We plan to retain
all earnings to provide funds for the operations of our company. In the future, our Board of Directors will decide whether to declare
and pay dividends based upon our earnings, financial condition, capital requirements, and other factors that our Board of Directors may
consider relevant. We are not under any contractual restriction as to present or future ability to pay dividends.
Unregistered
Sales of Equity Securities
In
May 2023, we issued 200,000 shares (3,000,000 on a pre-reverse split basis) of our common stock to Trending Equities Corp. in
exchange for providing marketing and investor relations services.
In
May 2023, we issued a warrant to Titan Partners Group, LLC, the Placement Agent for our registered direct offering, to purchase
40,000 shares (600,000 on a pre-reverse split basis) of our common stock at a price of $3.75 per share ($0.25 on a pre-reverse split basis). The warrant is exercisable
at any time on or after November 12, 2023, and expires on May 16, 2028.
In
November 2023, we issued 133,334 (2,000,000 on a pre-reverse split basis) shares of our common stock to LendSpark Corporation as
additional consideration to enter into a loan agreement in which we received gross proceeds of $2,200,000.
ITEM
6. [RESERVED]
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