Item 5. Market for Registrant’s Common Equity
ITEM 5. MARKET FOR REGISTRANT’S COMMON
EQUITY, RELATED STOCKHOLDER MATTERS AND ISSUER PURCHASES OF EQUITY SECURITIES
Market Information
On February 15, 2019, our common stock began trading
on The Nasdaq Capital Market under the symbol “HOTH.” Prior to that time, there was no public market for our common stock.
Shareholders
As of March 17, 2023, there were 98 shareholders
of record of our common stock. The actual number of holders of our common stock is greater than this number of record holders, and includes
shareholders who are beneficial owners, but whose shares are held in street name by brokers or held by other nominees. This number of
holders of record also does not include shareholders whose shares may be held in trust by other entities.
Dividend Policy
We have never paid or declared any cash dividends
on our common stock, and we do not anticipate paying any cash dividends on our common stock in the foreseeable future. We intend to retain
all available funds and any future earnings to fund the development, operation and expansion of our business. Any future determination
to pay dividends will be at the discretion of our board of directors and will depend upon a number of factors, including our results of
operations, financial condition, future prospects, contractual restrictions, restrictions imposed by applicable law and other factors
that our board of directors deems relevant.
Recent Sales of Unregistered Securities
During the period from October 1, 2022 to December
31, 2022, the Company issued an aggregate of 1,729 shares of the Company’s common stock, which shares were subject to a vesting
schedule, to members of the Company’s board of directors for services.
The foregoing issuances were exempt from registration
under Section 4(a)(2) of the Securities Act.
ITEM 6. [RESERVED]
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