Item 5. Market for Registrant’s Common Equity
ITEM
5.
MARKET
FOR THE REGISTRANT’S COMMON EQUITY, RELATED STOCKHOLDER MATTERS AND ISSUER PURCHASES OF EQUITY SECURITIES
(a)
Market Information
(1)
The
Company’s common stock is traded on the NASDAQ Capital Market under the symbol “REFR”. As of March 9, 2022,
there were 31,650,396 shares of common stock outstanding.
(2)
The
following table sets forth the range of the high and low selling prices (as provided by the National Association of Securities Dealers)
of the Company’s common stock for each quarterly period within the past two fiscal years:
Quarter Ended
Low
High
March 31, 2020
$ 2.20
$ 4.24
June 30, 2020
1.66
5.70
September 30, 2020
2.01
4.11
December 31, 2020
2.50
3.57
March 31, 2021
$ 2.65
$ 5.66
June 30, 2021
2.01
3.15
September 30, 2021
1.76
3.18
December 31, 2021
1.65
2.63
These
quotations may reflect inter-dealer prices, without retail mark-up, mark-down, or commission, and may not necessarily represent actual
transactions.
35
(b)
Approximate Number of Security Holders
As
of March 8, 2022, there were approximately 283 holders of record of the Company’s common stock and the closing price
of our common stock was $2.38 per share. The Company estimates that there are approximately 7,100 beneficial holders of the Company’s
common stock.
(c)
Dividends
The
Company has not declared or paid cash dividends on its common stock for the two most recent fiscal years and does not expect to declare
or pay any cash dividends in the foreseeable future. There are no restrictions on the payment of dividends.
(d)
Issuer Purchases of Equity Securities
None.
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