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
Our
common stock is traded on the over-the-counter market and is quoted on the OTCQB Venture Market run by OTC Markets Group under the symbol
“SDCH.”
Any
over-the-counter market quotations reflect inter-dealer prices, without retail mark-up, mark-down or commission and may not necessarily
represent actual transactions.
As
of December 14, 2022, there were 148,724,056 shares of our common stock issued and outstanding, and there were more than 3,000 record
holders of our common stock.
Also
as of December 14, 2022, there were 100 shares of Series A Preferred Stock issued and outstanding and held by five (5) individuals .
Dividends
We
have never declared any dividends on our common stock; however, prior to December 29, 2021 we operated as a limited liability company
(“LLC”) and made distributions of profits to LLC members. There were equity distributions to LLC members of $210,000 in 2021
and $461,000 in 2022 (from October 1, 2021 to December 29, 2021).
Our
Board of Directors does not intend to declare dividends in the foreseeable future. The declaration, payment, and amount of any future
dividends will be made at the discretion our Board of Directors, and will depend upon, among other things, the results of our operations,
cash flows and financial condition, operating and capital requirements, and such other factors as our Board of Directors considers relevant
at that time. We currently expect to use all available funds to finance the future development and expansion of our business, and do
not anticipate paying dividends on our common stock in the foreseeable future.
Transfer
Agent
The
Transfer Agent and Registrar for our common stock is Pacific Stock Transfer Company located in Las Vegas, Nevada.
Recent
Sales of Unregistered Securities
Please
refer to the information contained in Item 1. Business under the caption “Business Combination Between Cipherloc Corporation and
SideChannel, Inc. (now known as SCS, Inc.)” of this Form 10-K with respect to shares of our equity securities issued during the
twelve-month period ended September 30, 2022.
ITEM
6. [RESERVED]
33
Text extracted from the filing as submitted to EDGAR. Formatting, tables and exhibits are simplified for reading; the original document is authoritative for anything you rely on.