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
Market Information
Our common stock is listed the Nasdaq Capital Market and its stock
symbol is “HTCR.” The closing price of our common stock on Nasdaq on March 28, 2025 was $0.8573.
Holders
As of December 31, 2024, there were 21,937,987 shares of common stock
issued and outstanding, and we had approximately 32 holders of record of our common stock. The number of record holders does not include
beneficial owners of common stock whose shares are held in the names of banks, brokers, nominees or other fiduciaries.
Dividends
On
March 29, 2024, the Board of Directors declared a cash dividend of $0.02 per share of the Company’s common stock. The dividend was
paid on May 3, 2024 to stockholders of record as of April 26, 2024, resulting in an aggregate of $417,283 in total dividends paid by the
Company.
On
July 22, 2024, the Board of Directors declared a cash dividend of $0.02 per share of the Company’s common stock. The dividend was
paid on August 26, 2024 to stockholders of record as of August 19, 2024, resulting in an aggregate of $417,283 in total dividends paid
by the Company.
The
Company may continue to issue quarterly dividends going forward, contingent upon the Board of Directors’ approval, following review
of the Company’s then-current financial results. Future dividends, if any, may be less than, equal to or greater than recent dividends.
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Securities Authorized for Issuance Under
Equity Compensation Plans
Our Board of Directors and
stockholders approved the 2021 Equity Incentive Plan (the “2021 Plan”) on August 6, 2021. Under the 2021 Plan, 2,400,000 shares
of common stock are authorized for issuance to employees, directors and independent contractors (except those performing services in connection
with the offer or sale of the Company’s securities in a capital raising transaction or promoting or maintaining a market for the
Company’s securities) of the Company or its subsidiary. The 2021 Plan authorizes equity-based and cash-based incentives for participants.
As of December 31, 2024, there were 4,330 shares authorized for issuance under the 2021 Plan.
On December 25, 2021, the
Company awarded options to purchase 1,534,500 shares of common stock pursuant to our 2021 Plan at an exercise price of $2.50 per share
to various officers, directors, employees and consultants of the Company. The options vest on each annual anniversary of the date of issuance,
in an amount equal to 25% of the applicable shares of common stock, subject to the terms and conditions of the 2021 Plan and the option
award agreements pursuant to which the options were awarded.
On February 9, 2022, the Company
entered into executive employment agreements with five executives and granted 85,820 restricted stock units pursuant to the 2021 Plan.
These common stock vest on each annual anniversary of the date of the employment agreement, in an amount equal to 25% of the applicable
shares of common shares.
On August 2, 2022, the Company
awarded options to purchase 2,000 shares of common stock pursuant to our 2021 Plan at an exercise price of $2.94 per share to an employee.
The options vest on each annual anniversary of the date of issuance, in an amount equal to 25% of the applicable shares of common stock,
subject to the terms and conditions of the 2021 Plan and the option award agreements pursuant to which the options were awarded.
On
February 3, 2023, the Company granted stock options to an employee to purchase 100,000 common shares at an exercise price of $1.17 per
share throughout a period of ten years from the grant date. The stock options vested 50% on the grant date and February 1, 2024, respectively.
On
March 22, 2023, the Company granted 671,350 shares of common shares to the employees and service providers of Sigmaways.
On August 1, 2023, the Board
approved, and proposed for stockholder approval, the 2023 Equity Incentive Plan (the “2023 Plan”). The shareholders approved
the 2023 Plan at the Annual Shareholder’s meeting on September 29, 2023. The 2023 Plan provides for various stock-based incentive
awards, including incentive stock options (“ISOs”) and non-qualified stock options (“NQSOs”), stock appreciation
rights (“SARs”), restricted stock and restricted stock units (“RSUs”), and other equity-based or cash-based awards.
As of December 31, 2024, the Company has not granted any stock-based compensation awards to employees, including officers, or non-employee
directors pursuant to the 2023 Plan.
On August 25, 2023, the Company
awarded options to purchase 2,000 shares of common stock pursuant to our 2021 Plan at an exercise price of $1.10 per share to an employee.
The options vest on each annual anniversary of the date of issuance, in an amount equal to 25% of the applicable shares of common stock,
subject to the terms and conditions of the 2021 Plan and the option award agreements pursuant to which the options were awarded.
On October 1, 2024, the Company issued an aggregate 69,653 shares of common stock pursuant to the 2023 Plan. The common stock was fully
vested upon issuance.
Purchases of Equity Securities by the Issuer
On June 1, 2022, the Board
of Directors approved a share repurchase program (“2022 Share Repurchase Program”),
pursuant to which the Company is authorized to repurchase up to $3.5 million of its outstanding common shares. The timing and amount of
repurchases under the program are determined by the Company’s management based on its evaluation of market conditions and other
factors. This program has no set termination date and may be suspended or discontinued at any time.
During the period from June
1, 2022 through September 30, 2022, the Company repurchased 1,349,390 shares of common shares at an average price of $2.59 per share totaling
approximately $3.5 million (including commissions) under the 2022 Share Repurchase Program. As of September 30, 2022, the Company has
used up the entire balance authorized under the 2022 Share Repurchase Program.
On October 18, 2022, the Board
of Directors approved to retire all the repurchased shares. As of December 31, 2022, all of the 1,349,390 treasury shares have been retired.
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Transfer Agent and Registrar
The Company’s transfer
agent is Transhare Corporation. The transfer agent’s address is Bayside Center 1, 17755 US Highway 19 N, Suite 140, Clearwater,
Florida 33764, and its telephone number is (303) 662-1112.
ITEM 6. RESERVED