Unregistered Sales of Equity Securities and Use of Proceeds
−Removed: In January 2021, we entered into a twelve-month
−Removed: agreement with an investor relations firm that included the issuance of 25,000 restricted shares of common stock.
−Removed: Upon signing the agreement,
−Removed: 6,250 shares vested immediately, and the remaining 18,750 shares will vest quarterly over the remainder of the agreement.
−Removed: As of September
−Removed: 30, 2021, 18,750 shares have been issued.
−Removed: We may terminate the agreement at any time during the twelve-month period with a fifteen-day
−Removed: The issuance was made in reliance upon an exemption from registration contained in Section 4(a)(2) of the Securities Act.
−Removed: In May 2021, we entered into a four-month agreement
−Removed: with an investor relations firm that included the issuance of 75,000 shares of common stock.
−Removed: As of September 30, 2021, 75,000 shares have
−Removed: The issuance was made in reliance upon an exemption from registration contained in Section 4(a)(2) of the Securities Act.
+Added: On January 5, 2022, the
+Added: Company entered into a Securities Purchase Agreement (the “Purchase Agreement”) with several institutional investors for the
+Added: sale by the Company of (i) 9,489,474 shares (the “Shares”) of the Company’s common stock, (ii) pre-funded warrants
+Added: (the “Pre-Funded Warrants”) to purchase up to an aggregate of 2,615,790 shares of common stock and (iii) warrants to
+Added: purchase up to an aggregate of 12,105,264 shares of common stock (the “Common Warrants” and, collectively with the Pre-Funded
+Added: Warrants, the “Warrants”), in a private placement offering.
+Added: The combined purchase price of one share of common stock (or one
+Added: Pre-Funded Warrant) and accompanying Common Warrant is $0.95.
+Added: to certain ownership limitations, the Warrants are exercisable upon issuance.
+Added: Each Pre-Funded Warrant is exercisable into one share of
+Added: common stock at a price per share of $0.001 (as adjusted from time to time in accordance with the terms thereof).
+Added: Each Common Warrant
+Added: is exercisable into one share of common stock at a price per share of $0.82 (as adjusted from time to time in accordance with the terms
+Added: thereof) and will expire on the fifth anniversary of the date of issuance.
+Added: The gross proceeds from the Purchase Agreement were $11,497,385
+Added: resulting in net proceeds, after payment of commissions and expenses, received by the Company of $10,625,786.
+Added: As of March 31, 2022, the
+Added: Pre-Funded Warrants have been exercised in full.
Defaults Upon Senior Securities
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