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
Since January 2021, the Company’s common stock and certain warrants, which are set to expire on January 14, 2026, have been trading on the National Association of Securities Dealers Automated Quotations Stock Market (“Nasdaq”) under the trading symbols “LEXX” and “LEXXW”, respectively.
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 19,559,179 common shares issued and outstanding as of August 31, 2025. As of November 25, 2025, there were approximately 34 holders of record of our common stock. A substantially greater number of holders of our common stock are ‘street name’ or beneficial holders, whose shares are held by banks, brokers and other financial institutions.
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 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.
Warrants
During the year ended August 31, 2025, 4,678,209 warrants were issued, 394,655 warrants expired, and 2,917,032 warrants were cancelled. As at August 31, 2025, the Company had 7,298,171 warrants outstanding as follows:
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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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102,097 warrants expiring on February 16, 2029 with an exercise price of $5.9375
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57,190 warrants expiring on October 14, 2029 with an exercise price of $3.825
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4,551,019 warrants expiring on January 14, 2030 with an exercise price of $3.06
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70,000 warrants expiring on April 24, 2030 with an exercise price of $1.25
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, 2025.
Item 6. [Reserved]