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 April 5, 2024 was $0.96.
Holders
As
of December 31, 2023, there were 20,842,690 shares of common stock issued and outstanding, and we had approximately 38 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
We
have not paid any cash dividends on our common stock and we planned to pay dividends on May 3, 2024.
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, 2023, 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.
70
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 will vest 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, 2023, 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.
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.
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