Item 1A. Risk Factors
Item 1A. Risk Factors
As a smaller reporting company, we are not required
to make disclosures under this item.
Item 2. Recent Sales of Unregistered Securities;
Use of Proceeds from Registered Securities
Please refer to Item 15. Recent Sales
of Unregistered Securities contained in our registration statement on Form S-1, as amended filed on September 29, 2023, for the information
required by Item 701 of Regulation S-K, which is incorporated herein by reference, as to all equity securities that we issued during
the period covered by this report that were not registered under the Securities Act of 1933, as amended.
On November 20, 2023, we consummated the initial
public offering (the “IPO”) of 1,500,000 shares of common stock, par value $0.0001 per share, at an offering price of $4.00
per share, generating gross proceeds of $6,000,000.
The securities in the IPO were registered under
the Securities Act of 1933, as amended on a registration statement on Form S-1 (No. 333-274755) (the “Registration Statement”). The SEC
declared the registration statement effective on November 13, 2023.
As
contemplated in the Registration Statement, we intend to use the net proceeds from the general and administrative expenses, marketing
and market expansion, research and development, and general working capital purposes. There has been no material change in the expected
use of the net proceeds from our IPO as described in our Registration Statement for the IPO .
Item 3. Defaults Upon Senior Securities
Not applicable.
Item 4. Mine Safety Disclosures
Not applicable.
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