Item 2. Unregistered Sales of Equity Securities
ITEM 2. UNREGISTERED SALES OF EQUITY SECURITIES AND USE OF PROCEEDS
During the third quarter of 2025, the Company: (i) issued 1,082,231 shares of common stock to ATW I (as defined above) upon their conversion of 4,600 shares of Series A Convertible Preferred Stock; and (ii) issued 3,000 shares of Series B Convertible Preferred Stock to ATW at a price per share of $980, for an aggregate offering price of approximately $2,940,000. See Note 13 (Equity) to the Unaudited Consolidated Financial Statements with respect to the terms of conversion of the Series A Convertible Preferred Stock and the Series B Convertible Preferred Stock.
ITEM 3. DEFAULTS UPON SENIOR SECURITIES
None.
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ITEM 4. MINE SAFETY DISCLOSURES
Not applicable.
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