PharmaCyte Biotech, Inc. 10-K

ITEM 5. MARKET FOR REGISTRANT’S COMMON EQUITY, RELATED STOCKHOLDER MATTERS AND ISSUER PURCHASES OF EQUITY SECURITIES. 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, 2021. 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.” The following table sets forth the post reverse stock split (1:1500) high and low bid quotations reported on the OTCQB through August 9, 2021 and Nasdaq through April 30, 2023 for our shares for each quarter during the two fiscal years (“FYs”) ended April 30, 2023 and 2022. The prices reflect inter-dealer prices, without retail mark-up, mark-down or commission and may not necessarily represent actual transactions. Bid Price FY 2023 HIGH LOW First Quarter $ 2.51 1.95 Second Quarter $ 3.02 2.33 Third Quarter $ 3.10 2.70 Fourth Quarter $ 3.04 2.78 FY 2022 First Quarter $ 27.16 5.56 Second Quarter $ 12.01 2.25 Third Quarter $ 3.05 1.89 Fourth Quarter $ 2.51 1.79 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 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 Compensation Plans See Item 12 of Part III of this Report regarding information about securities authorized for issuance under our equity compensation plans. 72 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. The options 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. The options 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 with us. 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. Period 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 711,131 $ 2.9905 711,131 $ 8,615,102 March 1, 2023 – March 31, 2023 94,433 $ 2.9205 94,433 $ 8,337,421 April 1, 2023 – April 30, 2023 609,474 $ 2.9989 609,474 $ 6,497,474 Total 1,415,038 $ 2.9895 1,415,038 $ 6,497,474 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. On January 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.” 73 ITEM 6. [RESERVED]