Item 2. Unregistered Sales of Equity Securities
ITEM
2. UNREGISTERED SALES OF EQUITY SECURITIES AND USE OF PROCEEDS
On
July 22, 2022, the Company issued 200,000 of restricted common stock to eAperion Partners LLC of which Charles M. Fernandez is managing
partner, pursuant to his employment agreement dated May 28, 2021. The Company recorded stock-based compensation in the amount of $805,246.
On
August 4, 2022, the Company issued 15,000 restricted shares to Andrew Cohen, pursuant to a restricted stock award which became fully
vested upon his resignation, see Note 13. The award resulted in stock based compensation of $76,950 and was valued as of the date of
the award on October 8, 2021.
On
September 20, 2022, the Company issued 116,000 restricted shares of common stock to eAperion Partners LLC, of which Charles M. Fernandez
is managing partner, pursuant to a restricted stock award, “RSA,” under the Company’s 2020 Equity Incentive Plan. The
shares were fully vested upon issuance. The shares were valued at the market close of issuance date of $2.52 per share, resulting in
stock-based compensation of $292,320.
On
September 28, 2022, the Company issued 20,000 restricted shares to Douglas Ellenoff, pursuant to such award as granted on August 24,
2021, using the fair market value as of date of the award of $5.37 per share, resulting in stock-based compensation of $107,400.
Also,
on September 28, 2022, the Company issued 5,000 restricted shares to Paul Thomson, pursuant to such award as granted on August 24, 2021,
using the fair market value as of date of the award of $5.37 per share, resulting in stock-based compensation of $26,850.
ITEM
3. DEFAULTS UPON SENIOR SECURITIES
None.
ITEM
4. MINE SAFETY DISCLOSURES
Not
applicable.
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