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Concurrently, our common stock became quoted on the OTCQX
−Removed: We continue to trade under the symbol “REED”.
+Added: Our symbol remains “REED”.
+Added: The OTCQX Best Market is an over-the-counter market.
+Added: Over-the-counter market quotations
+Added: reflect inter-dealer prices, without retail mark-up, mark-down or commission and may not necessarily represent actual transactions.
December 21, 2021, our shareholders approved an increase in the number of authorized shares of common stock from 120 million to 180 million.
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effected the 1:50 reverse stock split of our common stock.
−Removed: As of March 31, 2023, there were approximately 165
−Removed: holders of record of the common stock and 2,602,399 outstanding shares of common stock.
−Removed: The holders of record do not include those stockholders
−Removed: whose shares are held of record by banks, brokers and other financial institutions.
−Removed: the year ended December 31, 2022, we repurchased 265 shares of common stock from an officer for $2 based on the market value of share
−Removed: on the date repurchased.
−Removed: We retired the shares.
−Removed: have no expectation to pay cash dividends to holders of our common stock in the foreseeable future.
+Added: of March 19, 2024there were approximately 165 holders of record of our common This number does not include “street name”
+Added: or beneficial holders, whose shares are held of record by banks, brokers, financial institutions and other nominees.
+Added: the twelve months ended December 31, 2023, we repurchased 274 shares of common stock from
+Added: an officer for $1 based on the market value of share on the date repurchased.
+Added: We retired the shares in the second quarter of 2023.
+Added: currently have no expectation to pay cash dividends to holders of our common stock in the foreseeable future.
Sales of Equity Securities
−Removed: that have not been previously disclosed in a Current Report on Form 8-K.
+Added: In March 2023, John J.
+Added: Bello funded $300,000 to Reed’s through the SAFE investment.
+Added: The SAFE investment convert
+Added: into the next equity financing of Reed’s on the same terms and conditions as investors in Reed’s next equity financing, subject
+Added: to certain limitations and conditions.
+Added: The SAFE has not been registered under the Securities Act of 1933, as amended (the “Securities
+Added: Act”) and instead was offered pursuant to the exemption provided in Section 4(a)(2) under the Securities Act on the basis that there
+Added: was no public offering.
+Added: as set forth above, the information has previously been included on a Current Report on Form 8-K or Quarterly Report on Form10Q.
Compensation Plans
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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.