What changed in this filing

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Item 5. Market for Registrant’s Common Equity

2023-07-31 compared with 2022-07-28 · 60 added, 54 removed, 21 unchanged (84% of the section changed)

1 unchanged sentence

EQUITY, RELATED STOCKHOLDER MATTERS AND ISSUER PURCHASES OF EQUITY SECURITIES.

On August 10, 2021, our shares of common stock

commenced trading on the Nasdaq Capital Market (“Nasdaq”).

Prior to that, shares of our common stock were quoted on the OTC

Link™ quotation platform of OTC Markets Group, Inc.

(“OTCQB”) as an Over-The-Counter Bulletin Board company under the

classification of OTCQB utilizing the trading symbol “PMCB.” As a result of a 1:1500 reverse stock split effective July 12,

2021, our trading symbol was changed to “PMCBD” until August 6, 2021.

Thereafter, it reverted to “PMCB.”

Market Information

Our shares of common stock are listed on the Nasdaq

Capital Market (“Nasdaq”), where they have traded under ticker symbol “PMCB” since initial listing on August 10,

Prior to that, shares of our common stock were quoted on the OTC Link™ quotation platform of OTC Markets Group, Inc.

as an Over-The-Counter Bulletin Board company under the classification of OTCQB utilizing the trading symbol “PMCB.”

The following table sets forth the post reverse

11 unchanged sentences

Fourth Quarter

As of April 30, 2022, there were 20,721,047 issued

and outstanding shares of our common stock.

We are informed these shares are held by approximately 1,400 shareholders of record.

As of July 25, 2023, there were approximately

1,400 stockholders of record of our common stock.

The number of stockholders of record does not include beneficial owners of our securities

whose shares are held in the name of various security brokers, dealers and registered clearing agencies.

Dividend Policy

We have not paid and do not plan to pay cash dividends

Our Board will decide any future payment of dividends, depending on the results of operations, financial condition, capital requirements

and other relevant factors.

in the foreseeable future.

In addition, the terms of the certificate of designations governing our Series B convertible preferred stock

presently restricts our ability to pay dividends.

Our Board will decide any future payment of dividends, depending on the results of operations,

financial condition, capital requirements and other relevant factors.

Securities Authorized for Issuance under Equity

2 unchanged sentences

information about securities authorized for issuance under our equity compensation plans.

Recent Issuance of Unregistered Securities

We issued Common Stock Purchase Warrants (“Warrants”)

to Aeon (defined below) in connection with our Block Trades (defined below).

We issued Warrants to purchase the number of shares of our

restricted common stock listed below.

The Warrants have a five-year term and represent

5% of the number of shares of common stock sold at an exercise price equal to the price per share at which the shares were sold in the

They are exercisable by the holder at any time from the sale date through and including the expiration date set forth in

Each Warrant has a specified exercise price as set forth below.

Warrants Issued

Exercise Price

June 13, 2019

July 15, 2019

August 7, 2019

February 24, 2020

March 24, 2020

March 31, 2020

April 7, 2020

April 21, 2020

July 10, 2020

July 18, 2020

July 19, 2020

July 27, 2020

August 3, 2020

August 6, 2020

August 7, 2020

August 10, 2020

August 23, 2021

In addition to issuances of unregistered securities

by us to our officers and directors previously disclosed in our Quarterly Reports on Form 10-Q, our Form 8-Ks and this Report, on March

1, 2021, we issued 29,144 shares of restricted common stock relating to the cashless exercise of twenty-six (26) warrant agreements to

an investment banker.

The non-cash expense for these share issuances was zero.

All such shares were issued without registration

under the Securities Act in reliance upon the exemption afforded by Section 4(a)(2) of the Securities Act based on the limited number

of investors, the sophistication of the individuals involved and the use of restrictive legends on the share certificates issued to prevent

a public distribution of the relevant securities.

SELECTED FINANCIAL DATA

Recent Sales of Unregistered Securities

On May 2, 2022, we issued options to purchase

an aggregate of 334 unregistered shares of common stock to one of our directors pursuant to their letter agreements with us.

are exercisable for $2.29 per share and vest immediately upon issuance.

The non-cash expense for the share issuances totaled $765.

On May 16, 2022, we issued options to purchase

an aggregate of 334 unregistered shares of common stock to one of our directors pursuant to their letter agreements with us.

are exercisable for $2.29 per share and vest immediately upon issuance.

The non-cash expense for the share issuances totaled $765.

On July 1, 2022, we

issued options to purchase an aggregate of 334 unregistered shares of common stock to one of our directors pursuant to their letter agreements

The options are exercisable for $2.24 per share and vest immediately upon issuance.

The non-cash expense for the share issuances

totaled $748.

The foregoing transactions

did not involve any underwriters or any public offering.

The sale of the above securities was deemed to be exempt from registration under

the Securities Act in reliance on Section 4(a)(2) of the Securities Act (and Regulation D promulgated thereunder) or Rule 701 promulgated

under Section 3(b) of the Securities Act as transactions by an issuer not involving any public offering.

The recipients of the securities

in the transaction represented their intentions to acquire the securities for investment only and not with a view to, or for sale in connection

with, any distribution thereof, and appropriate legends were affixed to the securities issued in these transactions.

All recipients received

or had, through their relationships with us, adequate access to information about us.

Issuer Purchases of Equity Securities

The table below summarizes information about the

Company’s purchases of its equity securities during the three months ended April 30, 2023.

Total Number of Shares Purchased

Average Price Paid per Share

Total Number of Shares Purchased as Part of Publicly Announced Plans or Programs

Maximum Number (or Approximate Dollar Value) of Shares That May Yet Be Purchased Under the Plans or Programs

February 1, 2023 – February 28, 2023

March 1, 2023 – March 31, 2023

April 1, 2023 – April 30, 2023

On June 2, 2022, the Company announced that the

Board had authorized a share repurchase program to acquire up to $10 million of the Company’s outstanding common stock (the “First

Repurchase Program”).

The number of shares of common stock repurchased on any given trading day is determined by a formula, which

is based on the market price of the common stock and average daily volumes.

The First Repurchase Program expires on May 30, 2024.

31, 2023, the Board authorized a share repurchase program to repurchase up to an additional $10 million of the Company’s outstanding

common stock (the “Second Repurchase Program” and together with the First Repurchase Program, the “Repurchase Programs”).

Under the Second Repurchase Program, the shares may be repurchased from time to time in open market transactions, privately negotiated

block transactions or other means in accordance with applicable securities laws.

For more information on the Repurchase Programs, see

“Note 12 – Treasury 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.

What changed 10-K

Item 5. Market for Registrant’s Common Equity