Netcapital Inc. 10-Q

Item 1. Legal Proceedings. We are currently not involved in any litigation that we believe could have a material adverse effect on our financial condition or results of operations. There is no action, suit, proceeding, inquiry or investigation before or by any court, public board, government agency, self-regulatory organization or body pending or, to the knowledge of the executive officers of our company or any of our subsidiaries, threatened against or affecting our company, our common stock, any of our subsidiaries or of our companies or our subsidiaries’ officers or directors in their capacities as such, in which an adverse decision could have a material adverse effect. Item 1A. Risk Factors. We are a smaller reporting company as defined by Rule 12b-2 of the Securities Exchange Act of 1934, as amended, and are not required to provide information under this item. Item 2. Unregistered Sales of Equity Securities and Use of Proceeds. During the three-month period ended July 31, 2020, we issued 312,500 shares of common stock to our Chief Marketing Officer as stock-based compensation. Item 3. Defaults Upon Senior Securities. None. Item 4. Mine Safety Disclosures. Not applicable .