Item 1A. Risk Factors
Item
1A. Risk Factors
We
are a smaller reporting company, as defined by Rule 12b-2 of the Exchange Act, and are not required to provide the information
under this item. However, there have been no material changes to the risks described in “Item 1A. Risk Factors” in
the 2023 Form 10-K.
Item
2. Recent Sales of Unregistered Securities; Use of Proceeds from Registered Securities
Except as set forth below, there
were no sales of equity securities sold during the period covered by this Report that were not registered under the Securities
Act and were not previously reported in a Current Report on Form 8-K filed by the Company.
On January 26, 2024, the Company issued
575,000 shares of common stock to Jeffrey J. Guzy upon conversion of 57,600 shares of Series A preferred stock and 475,000 shares
of common stock to Wm. Barrett Wellman upon conversion of 47,500 shares of Series A preferred stock.
Item
3. Defaults Upon Senior Securities
None.
Item
4. Mine Safety Disclosures
Not
applicable.
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