Unregistered Sales of Equity Securities and Use of Proceeds
−Removed: The Series B Preferred Stock dividends described in Note 11, Preferred Stock , to our accompanying unaudited condensed consolidated financial statements (the terms of which preferred stock were previously disclosed in a current report filed prior to the date of this Form 10-Q) were exempt from the registration requirements of the Securities Act of 1933, as amended (the “Securities Act”), pursuant to Section 4(a)(2) of the Securities Act, as transactions not involving public offerings.
−Removed: The shares of the Company’s common stock issued upon conversion of the Series C Preferred Stock described in Note 11, Preferred Stock , to our accompanying unaudited condensed consolidated financial statements (the terms of which preferred stock were previously disclosed in a current report filed prior to the date of this Form 10-Q), were exempt from the registration requirements of the Securities Act pursuant to Section 3(a)(9) thereof.
−Removed: On March 27, 2026, the Company issued 225,000 shares of common stock to vendors in exchange for $1,951 of agreed upon services.
−Removed: Except as disclosed above and as previously disclosed in our current and periodic reports filed prior to the date of this Form 10-Q, we did not sell any unregistered securities or repurchase any of our securities during the three months ended March 31, 2026.
−Removed: See Part I, Item 2 under the caption “ Liquidity and Capital Resources ” for a description of limitations on the payment of dividends.
+Added: During the fiscal quarter ended June 30, 2026, we issued new shares of our Series B Preferred Stock in payment of in-kind dividends on our outstanding Series B Preferred Stock, in accordance with the previously disclosed terms of the preferred stock and as described in Note 11, Preferred Stock , to our accompanying unaudited condensed consolidated financial statements (the terms of which preferred stock were previously disclosed in a current report filed prior to the date of this Form 10-Q).
+Added: The issuances were exempt from the registration requirements of the Securities Act of 1933, as amended (the “Securities Act”), pursuant to Section 4(a)(2) of the Securities Act, as transactions not involving public offerings.
+Added: Except as disclosed above and as previously disclosed in our current and periodic reports filed prior to the date of this Form 10-Q, we did not sell any unregistered securities or repurchase any of our securities during the three months ended June 30, 2026.
+Added: As long as the 2026 Note is outstanding, we may not, directly or indirectly, redeem, or declare or pay any cash dividend or cash distribution on, any of our securities without the prior express written consent of a majority-in-interest of the holders of the 2026 Note (subject to limited exceptions).
+Added: Furthermore, our common stock is junior to our preferred stock with respect to certain in-kind dividends payable to the holders of such preferred stock.
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.