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
Our common stock is quoted on an unsolicited basis on the OTCQB tier of the marketplace maintained by OTC Markets Group, Inc. under the symbol “HYEX.” Our stock is piggyback qualified for broker-dealer quotations. Our common stock trades on a limited or sporadic basis and should not be deemed to constitute an established public trading market. There is no assurance that there will be liquidity in the common stock.
The following table sets forth the high and low closing price for each quarter within the fiscal years ended December 31, 2023 and 2022, as provided by Nasdaq, after giving effect to the 1-for-120 reverse stock split on December 29, 2023. The information reflects prices between dealers, and does not include retail markup, markdown, or commission, and may not represent actual transactions.
Fiscal Year
Ended
December 31,
Transaction Prices
Period
High
Low
2024
First Quarter (through March 18, 2024)
$4.05
$1.03
2023
Fourth Quarter
$7.20
$3.24
Third Quarter
$7.20
$3.60
Second Quarter
$6.96
$5.50
First Quarter
$7.02
$4.32
2022
Fourth Quarter
$8.28
$4.80
Third Quarter
$8.52
$4.93
Second Quarter
$9.12
$4.91
First Quarter
$6.96
$3.72
The Securities Enforcement and Penny Stock Reform Act of 1990 requires additional disclosure relating to the market for penny stocks in connection with trades in any stock defined as a penny stock. The Commission has adopted regulations that generally define a penny stock to be any equity security that has a market price of less than $5.00 per share, subject to a few exceptions which we do not meet. Unless an exception is available, the regulations require the delivery, prior to any transaction involving a penny stock, of a disclosure schedule explaining the penny stock market and the risks associated therewith.
Holders
As of March 18, 2024, there were 2,963,906 shares of our common stock issued and outstanding and held by approximately 119 holders of record, not including shares held in “street name” in brokerage accounts which is unknown.
Dividend Policy
We have not paid any dividends on our common stock and do not expect to do so in the foreseeable future. We intend to apply our earnings, if any, in expanding our operations and related activities. The payment of cash dividends in the future will be at the discretion of the Board of Directors and will depend
42
upon such factors as earnings levels, capital requirements, our financial condition and other factors deemed relevant by the Board of Directors.
Securities Authorized for Issuance under Equity Compensation Plans
We do not have any disclosure related to this item.
Recent Issuance of Unregistered Securities
Restricted Stock Units and Restricted Stock Awards
On December 26, 2022, we approved the Healthy Extracts Inc. 2022 Equity Incentive Plan and set aside 433,334 shares of our common stock for issuance thereunder. On December 26, 2022, we approved the grant of a total of 133,125 Restricted Stock Units on April 28, 2023 at $1.20 per share, and the grant of 300,000 Restricted Stock Awards upon our uplisting with a strike price of $0.00 to $1.20 to a total of sixteen (16) individuals. 3
The issuances were exempt from registration pursuant to Section 4(a)(2) of the Securities Act of 1933, there was no solicitation involved in the offerings, and the parties were either sophisticated or accredited.
ITEM 6 – RESERVED
As a smaller reporting company, we are not required to provide the information required by this Item.
3 NTD: Confirm no other issuances through 12/31/23.
43
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.