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 and Holders
Our common stock is traded on NYSE American under the symbol “MAIA”. As of March 21, 2024, 20,002,826 shares of the Company’s common stock were issued and outstanding and were owned by approximately 136 holders of record. The actual number of stockholders is greater than this number of record holders and includes stockholders who are beneficial owners but whose shares are held in street name by brokers and other nominees.
Dividend Policy
We have never declared or paid any cash dividends on our common stock or any other securities. We anticipate that we will retain all available funds and any future earnings, if any, for use in the operation of our business and do not anticipate paying cash dividends in the foreseeable future. In addition, future debt instruments may materially restrict our ability to pay dividends on our common stock. Payment of future cash dividends, if any, will be at the discretion of the board of directors after taking into account various factors, including our financial condition, operating results, current and anticipated cash needs, the requirements of current or then-existing debt instruments and other factors the board of directors deems relevant
Recent Sales of Unregistered Securities
On August 15, 2023, the Company renewed the agreement with FORCE Family Office, LLC (“Force”) for the provision of investor relations services from August 15, 2023 and ending 6 months after unless terminated earlier, pursuant to which the Company issued 20,000 restricted shares of common stock on August 15, 2023. Pursuant to the agreement, the Company also agreed to issue an additional 20,000 restricted shares of common stock on the 3-month anniversary of the date of the agreement unless the agreement is terminated beforehand. The agreement was not renewed at the February 14, 2024 renewal date.
On August 15, 2023, the Company entered into an agreement with Laidlaw & Company for investor services, pursuant to which the Company issued 12,500 restricted shares of common stock on August 15, 2023 and agreed to issue an additional 12,500 restricted shares of common stock to be issued 180 days following the date of the agreement. The agreement was not renewed after the initial three-month term. The additional 12,500 restricted shares of common stock were issued on March 18, 2024.
On March 8, 2023, the Company entered into an agreement with The Money Channel NYC Inc. for media services, pursuant to which the Company agreed to issue 22,500 shares of common stock on March 8, 2023 and an additional 22,500 shares of common stock every ninety days after the execution date of the contract until termination of the agreement. On June 8, 2023, September 6, 2023, and December 5, 2023, the Company issued 22,500 restricted shares of common stock on each of these dates pursuant to the agreement. The agreement was terminated on February 24, 2024 and no more stock will be issued.
On September 21, 2023, the Company entered into a twelve-month agreement with IRTH Communications, LLC for investor relation services, pursuant to which we issued $100,000 worth of restricted shares of common stock, with the number of shares of the Company determined by dividing $100,000 by the average closing price of the Company’s common stock for the ten trading days immediately prior to the execution of the agreement. A total of 56,948 restricted shares of common stock were issued.
On November 14, 2023, the Company issued 20,000 restricted shares of common stock to FON Consulting, an assignee of FORCE Family Office, LLC for investor services through February 14, 2024.
No underwriters were involved in the foregoing issuances of securities. The securities described above were issued to investors
in reliance upon the exemption from the registration requirements of the Securities Act, as set forth in Section 4(a)(2) under the
Securities Act relative to transactions by an issuer not involving any public offering, to the extent an exemption from such registration was required. The recipient of securities in the transactions described above represented that it was an accredited investor and was acquiring the securities for their own account for investment purposes only, and not with a view to, or for sale in connection with, any distribution thereof and that they could bear the risks of the investment and could hold the securities for an indefinite period of time and appropriate legends were affixed to the instruments representing such securities issued in such transactions.
Item 6 . [Reserved]
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