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
On January 12, 2021, the Company’s common stock and certain warrants began trading on the National Association of Securities Dealers Automated Quotations Stock Market (“Nasdaq”) under the trading symbols “LEXX” and “LEXXW”, respectively. Prior to this date the Company’s common stock was quoted on the OTCQX under the symbol “LXRP.” Our common shares were previously quoted on the Canadian Securities Exchange (“CSE”) under the symbol “LXX” until July 8, 2021.
The stock market in general has experienced extreme stock price fluctuations in the past few years. In some cases, these fluctuations have been unrelated to the operating performance of the affected companies. Many companies have experienced dramatic volatility in trading volumes and the market prices of their common stock. The Company believes that several factors, both within and outside of its’ control, could cause the daily volumes and price of the Company’s common stock to fluctuate. There were 15,810,205 common shares issued and outstanding as of August 31, 2024. As of November 22, 2024, there were approximately 33 shareholders of record.
Dividend Policy
We have never declared or paid any dividends on our capital stock. Our current policy is to retain earnings, if any, for use in our operations and in the development of our business. As a result, we anticipate that only appreciation of the price of our common stock, if any, will provide a return to investors for at least the foreseeable future. Any future determination related to dividend policy will be made at the discretion of our Board of Directors (“our Board”) and will depend on, among other factors, our results of operations, financial condition, capital requirements, contractual restrictions, business prospects and other factors our Board may deem relevant.
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Warrants
During the year ended August 31, 2024, 7,093,208 warrants were issued, 5,382,042 warrants were exercised for gross proceeds of $6,103,602 and 300,000 warrants expired. As at August 31, 2024, the Company had 5,931,649 warrants outstanding as follows:
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60,798 warrants expiring on November 13 or November 28, 2024 with an exercise price of $36.00
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16,667 warrants expiring on March 16, 2025 with an exercise price of $9.00
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317,190 warrants expiring on May 6 or May 11, 2025 with an exercise price of $10.50
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1,719,828 warrants expiring on January 11, 2026 with an exercise price of $6.58
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483,750 warrants expiring on May 11, 2028 with an exercise price of $0.95
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259,741 warrants expiring on February 16, 2029 with an exercise price of $2.185
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54,546 warrants expiring on February 14, 2029 with an exercise price of $2.8875
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2,917,032 warrants expiring on February 16, 2029 with an exercise price of $4.75
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102,097 warrants expiring on February 16, 2029 with an exercise price of $5.9375
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Purchases of Equity Securities by the Issuer and Affiliated Purchasers
The Company did not repurchase any of its equity securities during its fiscal year ended August 31, 2024.
Item 6. [Reserved]