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 listed on
The Nasdaq Capital Market, or Nasdaq, under the symbol “IPW,” where we commenced trading on May 14, 2021. Prior to that time,
our common stock was not traded on any exchange or quoted on any over the counter market.
Shareholders
As of October 2, 2026 we
had 29 holders of record of our common stock and 1,262,584 shares of common stock outstanding.
Dividends
We have never paid cash dividends
on our common stock. Holders of our common stock are entitled to receive dividends, if any, declared and paid from time to time by the
board of directors out of funds legally available. We intend to retain any earnings for the operation and expansion of our business and
do not anticipate paying cash dividends on our common stock in the foreseeable future. Any future determination as to the payment of cash
dividends will depend upon future earnings, results of operations, capital requirements, our financial condition, and other factors that
our board of directors may consider.
Equity Compensation Plans
2020 Amended Equity Incentive Plan
The total number of underlying
shares of the Company’s common stock available for grant to directors, officers, key employees and consultants of the Company or
a subsidiary of the Company under the Company’s Amended and Restated 2020 Equity Inventive Plan (the “2020 Amended Equity
Incentive Plan”) was 50,000,000 shares (627,315 shares on a post reverse split basis, taking into account the May 22, 2026 and
August 7, 2026 reverse stock splits). Grants made under the 2020 Amended Equity Incentive Plan must be approved by the Company’s
board of directors.
The following table provides information
as of June 30, 2026 about our equity compensation plans and arrangements.
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
Equity compensation plans approved by security holders
3,939
$
1,288.70
553,949
Equity compensation plans not approved by security holders
–
–
–
Total
3,939
$
1,288.70
553,949
Recent Sales of Unregistered Securities
None.
41
Issuer Purchases of Equity Securities
On February 10, 2026, the
board of directors of the Company authorized a share repurchase program of up to $2.0 million of the Company’s common stock (the
“Share Buyback Program”). On May 26, 2026, the Company executed the documents required to implement a trading plan in connection
with the Share Buyback Program. The repurchase program does not obligate the Company to acquire any specific number of shares and may
be suspended or discontinued at any time.
As of June 30, 2026, the Company
repurchased an aggregate of 1,346 shares of its common stock for approximately $41,755 in open-market transactions under the Share Buyback
Program.
Period
(a)
Total number of shares purchased
(b)
Average price paid per share
(c)
Total number of shares purchased as part of publicly announced plans or programs
(d)
Maximum number of shares (or approximate dollar value) of shares that may yet be purchased under the plans or programs
May 2026
100
$ 36.33
100
$ 1,996,367
June 2026
1,246
$ 30.58
1,246
$ 1,958,245
Total
1,346
$ 31.02
1,346
$ 1,958,245
Use of Proceeds
None.
ITEM 6. [Reserved]