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
Principal Market or Markets
Our shares of common stock are currently quoted on the Nasdaq Capital Market under the symbol “CSBR.” Our common stock commenced trading on the Nasdaq Capital Market on August 21, 2015. Prior to such date, our shares of common stock were traded over-the-counter and quoted on the OTCQB Marketplace.
The table below sets forth the high and low bid prices of our common stock, as reported on Nasdaq for the periods shown:
High Low
Fiscal Year Ended April 30, 2023:
First quarter $ 9.53 $ 6.81
Second quarter 9.88 6.90
Third quarter 7.24 3.75
Fourth quarter 5.54 3.95
High Low
Fiscal Year Ended April 30, 2022:
First quarter $ 11.25 $ 8.45
Second quarter 11.00 9.23
Third quarter 10.38 7.60
Fourth quarter 8.93 7.06
Approximate Number of Holders of Common Stock
As of July 18, 2023 there were approximately 1,900 record holders of the Company’s common stock.
Dividends
14
Holders of our common stock are entitled to receive such dividends as may be declared by our Board of Directors. No dividends have been declared or paid with respect to our common stock and no dividends are anticipated to be paid in the foreseeable future. Any future decisions as to the payment of dividends will be at the discretion of our Board of Directors, subject to applicable law.
Recent Sales by the Company of Unregistered Securities
None.
Repurchases of Securities
On March 29, 2023, the Board of Directors approved a share repurchase program authorizing the Company to purchase up to an aggregate of $5.0 million of the Company’s common stock. The share repurchase program is designed in accordance with Rule 10b-18 of the Exchange Act. The shares may be purchased from time to time in the open market, as permitted under applicable rules and regulations, at prevailing market prices. The timing and amount of repurchases will depend on market conditions, share price, applicable legal requirements and other factors. The program does not obligate the Company to acquire a minimum number of shares. As of April 30, 2023, the Company had purchased approximately 14,000 shares of its common stock, at an average price of $5.11 per share, totaling approximately $74,000 and leaving an available balance of approximately $4.9 million authorized by the Board for use in the program as of that date.
Use of Proceeds
None.
Item 6. Reserved
Text extracted from the filing as submitted to EDGAR. Formatting, tables and exhibits are simplified for reading; the original document is authoritative for anything you rely on.