Item 5. Market for Registrant’s Common Equity
ITEM 5. MARKET FOR COMMON EQUITY AND RELATED STOCKHOLDER MATTERS
Market Information
The Company’s Common Stock currently trades on the American tier of the NYSE Market under the symbol “IDR”.
As of March 1, 2025, there were approximately 300 shareholders of record of the Company’s Common Stock.
Dividend Policy
The Company has not declared or paid cash dividends or made distributions in the past and the Company does not anticipate that it will pay cash dividends or make distributions in the foreseeable future. The Company currently intends to retain and reinvest future earnings, if any, to finance its operations.
Transfer Agent
The transfer agent for the Company’s Common Stock is Equinity Trust Company, LLC: 48 Wall Street, Floor 23, New York, NY 10005.
Securities Authorized for Issuance Under Equity Compensation Plans
In April 2014 the Board of Directors of the Company established a stock option plan (“2014 Equity Incentive Compensation Plan”) to authorize the granting of stock options to officers and employees. Upon exercise of the options, shares are issued from the available authorized shares of the Company.
In May 2023, a new equity incentive plan (“2023 Equity Incentive Compensation Plan”) was voted on, and approved, by the shareholders of the Company. This plan allows for the issuance of up to 1,225,600 shares of the Company’s common stock in the form of stock options (which may be incentive stock options or nonqualified stock options) or other stock-based awards, such as stock appreciation rights, restricted stock, restricted stock units and performance shares. As of December 31, 2024, there have been no awards made under this new plan.
No additional fees are paid for attendance at Board of Directors’ meetings, committee membership or committee chairmanship.
Equity Compensation Plan Information
Plan Category
Number of securities
to be issued upon
exercise of
outstanding options, warrants and rights
Weighted-average
exercise price of outstanding options, warrants
and rights
Number of securities remaining available for future issuance under equity compensation plans (excluding securities reflected in column (a))
2014 Equity Incentive Compensation Plan approved by the board
77,000
$ 5.17
0
2023 Equity Incentive Compensation Plan approved by the board and shareholders
0
0
1,225,600
Equity compensation plans not approved by the board
0
0
0
Total
77,000
$ 5.17
1,225,600
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Recent Sales of Unregistered Securities
If the Company pays for goods and services with restricted common stock, the policy is to determine the fair value of the goods or services to determine the number of corresponding shares to be issued. When applicable, an agreed upon price for our common stock is used that considers the bid/offer price as quoted by the NYSE-American.
There were no sales of unregistered securities in 2024.
The Company closed a private placement in February 2023. Under the private placement, the Company sold 123,365 shares at $5.50 per share and 35,088 shares at $5.70 per share for net proceeds of $878,503.
ITEM 6. [RESERVED]
Not Applicable.