Co-Diagnostics, Inc. 10-K

ITEM 5. MARKET FOR REGISTRANT’S COMMON EQUITY, RELATED STOCKHOLDER MATTERS AND ISSUER EQUITY SECURITIES Market Information Our common stock has been quoted on the NASDAQ market under the symbol “CODX” since July 12, 2017. Holders As of March 14, 2023, the last reported sales price reported on NASDAQ for our common stock was $2.99 per share. As of March 14, 2023, we had approximately 154 record holders of our common stock. The number of record holders was determined from the records of our transfer agent and does not include beneficial owners of common stock whose shares are held in the names of various security brokers, dealers, and registered clearing agencies. The transfer agent for our common stock is VStock Transfer LLC located at 18 Lafayette Pl, Woodmere, New York 11598. Dividends We have never declared or paid any cash dividends on our capital stock. The payment of dividends on our common stock in the future will depend on our earnings, capital requirements, operating and financial condition and such other factors as our board of directors may consider appropriate. We currently expect to use all available funds to finance the future development and expansion of our business and do not anticipate paying dividends on our common stock in the foreseeable future. Pursuant to Section 16-10a-640 of the Utah Revised Business Corporation Act, no distribution may be made if, after giving it effect: (a) the corporation would not be able to pay its debts as they become due in the usual course of business; or (b) the corporation’s total assets would be less than the sum of its total liabilities plus, unless the articles of incorporation permit otherwise, the amount that would be needed, if the corporation were to be dissolved at the time of the distribution, to satisfy the preferential rights upon dissolution of shareholders whose preferential rights are superior to those receiving the distribution. Recent Sales of Unregistered Securities None. 26 Purchases of Equity Securities by the Issuer and Affiliated Purchasers Share Repurchase Program Issuer Purchase of Equity Securities Period (a) Total number of shares purchased (1) (b) Average price paid per share (1) (c ) Total number of shares purchased as part of publicly announced plans or programs (1) (d) Maximum number (or approximate dollar value) of shares that may yet be purchased under the plans or programs (1) 10/01/22 - 10/31/22 - $ - - $ 17,005,627 11/01/22 - 11/30/22 4,750 $ 3.01 4,750 $ 16,991,319 12/01/22 - 12/31/22 462,582 $ 2.60 462,582 $ 15,788,134 Total 467,332 $ 2.61 467,332 $ 15,788,134 (1) In March 2022, the company announced that its board of directors authorized the repurchase of up to $30.0 million of the company’s outstanding common stock. The extent to which the company repurchases its shares, and the timing of such repurchases, will depend upon a variety of factors, including trading volume, market conditions, legal requirements, business conditions and other factors. The repurchase program may be discontinued at any time, and the program does not obligate the company to acquire any specific number of shares of its common stock. ITEM 6. RESERVED