Item 2. Unregistered Sales of Equity Securities
Item
2. Unregistered Sales of Equity Securities and Use of Proceeds
In
May 2020, the Company issued 30,000 shares of its restricted common stock, with a fair value of $167, as consideration for commission
expenses incurred during the year ended December 31, 2019 and the six months ended June 30, 2020. These securities have not been
registered under the Securities Act and have been issued in reliance on an exemption from the registration requirements of the
Securities Act afforded by Section 4(a)(2) thereof. These securities may not be offered or sold in the United States in
the absence of an effective registration statement or exemption from applicable registration requirements. In determining that
each of the issuances qualified for an exemption under Section 4(a)(2) of the Securities Act, we relied on the fact
that the securities were offered to a single individual or entity in consideration for amounts payable by the Company
and certain representations and warranties of each investor.
Item
3. Defaults Upon Senior Securities
Not
applicable.
Item
4. Mine Safety Disclosures
Not
applicable.
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