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
Our common stock is currently quoted on the OTCPink
tier of the over-the counter market maintained by OTC Markets Group, Inc. under the symbol “ SSII. ” However, the trading
market for our common stock is sporadic and extremely limited. Moreover, until the review of the Form 15c2-11 which has been filed with
FINRA on our behalf is completed and cleared (as to which no assurance can be given), our common stock is not eligible for proprietary
broker-dealer quotations and may only be bought or sold in unsolicited customer orders. This further limits the trading market for our
common stock.
Holders of our Common Stock
As of the date of this Annual Report, we had 170,724,381
shares of common stock issued and outstanding and 341 holders of record of our common stock. One of these holders is CEDE and Company
which is the mechanism used for brokerage firms to hold securities in book entry form on behalf of their clients and as of the date of
this Annual Report, they held approximately 2,840,257 shares of common stock for these shareholders.
Dividends
The payment by us of dividends, if any, in the
future rests within the discretion of our board of directors and will depend, among other things, upon our earnings, capital requirements
and financial condition, as well as other relevant factors. We have not paid any dividends since our inception and we do not intend to
pay any cash dividends in the foreseeable future, but intend to retain all earnings, if any, for use in our business.
(Securities Authorized for Issuance under Equity
Compensation Plans)
Plan category
Number of
securities to
be issued upon
exercise
of outstanding
options, grants
warrants and
rights
Weighted-
average
exercise
price of outstanding
options, grants
warrants and
rights
Number of
securities
remaining
available for future
issuance
under equity
compensation
plans (excluding
securities
reflected
in column
(a))
Equity compensation plans approved by security holders
12,181,226 shares (1)
$ 3.692
4,891,213 shares (1)
Equity compensation plans not approved by security holders
0 shares
–
0 shares
Total
12,181,226 (1)
$ 0
4,891,213 (1)
(1)
Represents shares of common stock under our 2016 Incentive Stock Plan (the “ Incentive Plan ”). As of the date of this Annual Report, 12,181,226 shares of common stock (comprised of 7,880,059 stock options and 4,301,167 stock grants) were issued under the Incentive Stock Plan. As of the date of this Annual Report, an additional 4,891,213 shares of common stock are available for future issuances under the Incentive Stock Plan.
21
Recent Sales of Unregistered Securities
In October 2023, the Company issued 90,514 shares
of our common stock upon the exercise of warrants previously sold to two accredited investors at an exercise price of $4.00 per share
generating $362,056 in total proceeds.
In October 2023, the Company issued 3,000 shares
of common stock to a consultant in exchange for advisory services to be rendered over a 12-month period effective June 2023.
In October 2023, the Company issued 50,000 shares
of common stock to an investor relations firm for investor relations and digital marketing services.
In November 2023, the Company issued 116,348 shares
of common stock to Dr. S.P. Somashekhar, a director, in exchange for advisory services to be rendered over a five-year period.
In November 2023, the Company issued a total of
22,541 shares of common stock to five physician consultants, in exchange for advisory services to be rendered over a five-year period.
In November 2023, the Company issued 75,000 shares
of common stock to a firm that conducted online investment seminars in which the Company participated.
In December 2023, the Company issued 12,500 shares
of common stock upon the exercise of warrants previously sold to three accredited investors at an exercise price of $4.00 per share, generating
$50,000 in total proceeds.
All of the foregoing securities were
issued in accordance with the exemption from registration afforded by Section 4(a)(2) of and/or Regulation D under the Securities Act,
as amended, as the persons receiving such shares having provided the Company with appropriate representations as to their investment intent
and their status as “ accredited investors ” as defined in Rule 501(a) of Regulation D promulgated under the Securities
Act.
Item 6. [Reserved]
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