Item 2. Unregistered Sales of Equity Securities
ITEM
2. UNREGISTERED SALES OF EQUITY SECURITIES AND USE OF PROCEEDS
Recent
Sales of Unregistered Securities
During
the three months ended March 31, 2025, the Company issued 240,000 shares of common stock for services. The Company relied on the exemption
from registration set forth in Section 4(a)(2) of the Securities Act for this issuance.
During
the three months ended March 31, 2024, the Company issued 274,000 shares of common stock at fair value of $411,000 in exchange for August
convertible note of $314,354 and recognized $96,646 loss on conversion of note to non-operating income (expense) in the unaudited condensed
consolidated statements of operations
In
each case, the issuance did not involve a public offering and was made without general solicitation or general advertising, and the recipient
of the shares was an accredited investor.
Purchases
of Equity Securities by the Issuer and Affiliated Purchasers
The
Company repurchased no shares of common stock during the first quarter of 2025.
ITEM
3. DEFAULTS UPON SENIOR SECURITIES
None.
ITEM
4. MINE SAFETY DISCLOSURES
None.
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