Unregistered Sales of Equity Securities and Use of Proceeds
−Removed: April 12, 2023, in connection with an individual’s cashless exercise of 300,000 stock options, 85,638 shares of common stock
−Removed: were exchanged from that individual in connection with the exercise cost.
−Removed: The 85,638 shares of stock were considered repurchased and
−Removed: retired by the Company during the three months ended June 30, 2023;
−Removed: the price paid for the shares was $4.40, and the fair value
−Removed: of the shares repurchased was $376,800.
−Removed: On August 17, 2022, we consummated our initial
−Removed: public offering of 980,000 units at a price to the public of $7.50 per unit, each unit consisting of one share of the Company’s
−Removed: common stock, par value $0.00001 per share (the “Common Stock”) and two warrants (the “Warrants”), with each Warrant
−Removed: exercisable to acquire one share of common stock, pursuant to that certain underwriting agreement, dated as of August 14, 2022 (the “Underwriting
−Removed: Agreement”), between the Company and Maxim Group LLC, as representative (the “Representative”) of the several underwriters
−Removed: named in the Underwriting Agreement for aggregate gross proceeds of approximately $7,350,000.
−Removed: In addition, pursuant to the Underwriting
−Removed: Agreement, the Company granted the Representative a 45-day option to purchase up to 147,000 additional shares of Common Stock, and/or
−Removed: up to 294,000 additional Warrants, to cover over-allotments in connection with the offering, which the Representative partially exercised
−Removed: to purchase 294,000 Warrants.
−Removed: The securities sold in the offering were registered
−Removed: under the Securities Act on a registration statement on Form S-1 (No.
−Removed: The SEC declared the registration statement effective
−Removed: on August 12, 2022.
−Removed: Of the gross proceeds received from the initial
−Removed: public offering, we received approximately $6.1 million, and we paid a total of approximately $588,000 in underwriting discounts and commissions
−Removed: and $600,000 for other costs and expenses related to the initial public offering.
−Removed: The proceeds from this offering were primarily used
−Removed: for (i) sales and marketing, (ii) expanding our inventory, (iii) updating our in-store displays, (iv) development of new smart eyewear
−Removed: styles and sizes, as well as further development and commercialization of the Vyrb app, and (v) working capital and general corporate
+Added: On April 12, 2023, in connection with an individual’s cashless exercise of 300,000 stock options, 85,638 shares of common stock were exchanged from that individual in connection with the exercise cost.
+Added: The 85,638 shares of stock were considered repurchased and retired by the Company during the nine months ended September 30, 2023;
+Added: the price paid for the shares was $4.40, and the fair value of the shares
+Added: repurchased was $376,800.
Defaults Upon Senior Securities.
Mine Safety Disclosures.
+Added: Not Applicable.
Compared sentence by sentence after normalising whitespace, quotation marks, case and digits, so re-formatting and restated figures do not read as changed language. Wording changes appear as one removal and one addition. The current filing and the prior one are authoritative.