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
On July 20, 2021, our Common Stock began
trading on the Nasdaq Capital Market under the trading symbol “KAVL.”
Holders
As of February 11, 2022, we had 30,233,319
shares of common stock issued and outstanding and 3,000,000 shares of Series A Preferred Stock issued and outstanding. As of February
11, 2022, we had approximately 4,800 stockholders of record.
Dividends
We have not paid any dividends to our
stockholders and do not intend to pay cash dividends on our Common Stock for the foreseeable future. Any future determination related
to dividend policy will be made at the discretion of our Board. Also, there are no restrictions, which would limit our ability
to pay dividends on common stock
Recent Sales of Unregistered Securities; Uses of Proceeds
from Registered Securities
Common Stock Issued
During the fiscal year ended October 31, 2021, 53,785 shares of our Common Stock were issued to QuikfillRx, LLC, a Florida limited liability
company (“QuikfillRx”) as compensation for marketing and promotion services rendered to us. We issued the shares in
reliance on the exemption from registration pursuant to Section 4(a)(2) of the Securities Act (in that the issuance of shares
of our Common Stock did not involve any public offering).
During the fiscal year ended October
31, 2021, 12,500 shares of our Common Stock were issued to Uptick Capital Partners as compensation for consulting services rendered
to us. We issued the shares in reliance on the exemption from registration pursuant to Section 4(a)(2) of the Securities Act (in
that the issuance of shares of our Common Stock did not involve any public offering).
During the fiscal year ended October
31, 2021, 308,333 shares of our Common Stock were issued to Inflection Partners, LLC as compensation for consulting and investor
relations services rendered to us. We issued the shares in reliance on the exemption from registration pursuant to Section 4(a)(2)
of the Securities Act (in that the issuance of shares of our Common Stock did not involve any public offering).
During the fiscal year ended October
31, 2021, 30,000 shares of our Common Stock were issued to Advisory Group Equity Services, LTD as compensation for consulting services
rendered to us. We issued the shares in reliance on the exemption from registration pursuant to Section 4(a)(2) of the Securities
Act (in that the issuance of shares of our Common Stock did not involve any public offering).
During the fiscal year ended October
31, 2021, 221,666 shares of our Common Stock were issued to employees and one former employee as employee bonus compensation.
We withheld 92,871 shares to satisfy tax obligations due upon such issuances. We issued the shares in reliance on the exemption
from registration pursuant to Section 4(a)(2) of the Securities Act (in that the issuance of shares of our Common Stock did not
involve any public offering).
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