1 unchanged sentence
Sales of Equity Securities
−Removed: April 11, 2024, the Company issued 53,063 shares of common stock to Leonite Fund I, LP to settle a 2023 convertible note dispute.
−Removed: May 21, 2024, the Company entered into three convertible promissory notes with related institutional accredited investors for an
−Removed: additional amount of $ 3,000,000 .
−Removed: The notes bear an interest rate of 8.5% per annum, which shall be payable quarterly by the Company in cash or in shares of the
−Removed: Common Stock at the conversion price of $2.38 per share.
−Removed: The maturity date of the Notes shall be on the earlier of (i) June 21,
−Removed: 2025, (ii) upon written demand of the investors occurring on or after March 21, 2025 in the event that the Series B Preferred Shares
−Removed: have not been duly authorized on or before such date, or (iii) immediately upon the occurrence of an event of default.
−Removed: provisions to the SPA and Certificate of Designation previously issued on February 12, 2024 changed, including (i) the number of
−Removed: shares of preferred stock to be designated as Series B Preferred Stock was increased from 1,500,000 to 5,000,000 ,
−Removed: (ii) the stated value of the Series B Preferred Stock was changed from $ 1.00 to
−Removed: share, (iii) the right to receive dividends will expire automatically on June 30, 2025, (iv) the liquidation rights will
−Removed: automatically expire on June 30, 2025, and (iv) the number of shares of the common stock that a holder of Series B preferred stock
−Removed: is entitled to receive shall not exceed the maximum percentage chosen by the holder, which is initially set at between 4.99 %
−Removed: until shareholder approval is obtained, of the number of outstanding shares of the common stock at the time of the conversion of the
−Removed: Series B preferred stock shares.
−Removed: The maturity date shall be on the earlier of (i) June 21, 2025, (ii) upon written demand occurring
−Removed: on or after March 21, 2025 in the event that the Series B preferred shares have not been duly authorized on or before such date, or
−Removed: (iii) immediately upon the occurrence of an event of default.
−Removed: Automatic conversion into shares of Series B preferred stock (at a
−Removed: conversion price of $ 2.38 per
−Removed: share) will occur following the date of shareholder approval.
−Removed: In the event the Company fails to obtain shareholder approval before
−Removed: August 15, 2024, rights exist to convert the outstanding amount into shares of the common stock, at a price per share of $ 2.38 .
−Removed: June 28, 2024 the Company issued 90,032 shares of common stock to pre-IPO Series A Preferred Shareholders to settle certain
−Removed: June 28, 2024, the Company issued 33,454 shares of common stock to holders of the Amended 2024 Convertible Promissory Notes in lieu of
−Removed: cash payments for interest through June 30, 2024.
−Removed: June 28, 2024, the Company issued 24,343 shares of common stock to its Board of Directors for their services from the Company’s
−Removed: IPO on August 9, 2023 through March 31, 2024.
−Removed: June 28, 2024, the Company issued 25,832 shares of common stock to its previous Chief Operating Officer in accordance with a severance
−Removed: agreement executed on April 10, 2024.
−Removed: June 28, 2024, the Company issued 20,000 shares of common stock to it previous CFO for services provided during the IPO.
+Added: August 22, 2024, the Company issued 25,601 shares of common stock to holders of the Amended 2024 Convertible Promissory Notes in lieu
+Added: of $60,911 in cash payments for interest through August 22, 2024.
+Added: August 28, 2024 the Company issued 102,860 shares of common stock to pre-IPO Series A Preferred Shareholders to settle certain claims.
+Added: The Company recorded the fair value of the settlement totaling $293,791 as other expense in the condensed statements of operations.
+Added: September 17, 2024, the Company issued 10,145 shares of common stock to a vendor pursuant to a marketing agreement.
+Added: The Company recorded
+Added: the fair value of services totaling $10,131 as general and administrative expense in the condensed statements of operations.
otherwise stated above, the issuances of these securities were made in reliance upon exemptions provided by Section 4(a)(2) of the Securities
3 unchanged sentences
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.