1 unchanged sentence
Market Information
−Removed: Our common stock is listed for trading on the OTCQB under the symbol “MCVT”.
+Added: Our common stock is listed for trading on the Nasdaq under the symbol “MCVT”.
The transfer agent and registrar for our common stock is Pacific Stock Transfer Company, 6725 Via Austi Parkway, Suite 300, Las Vegas, NV 89119.
−Removed: The following table sets forth the high and low bid prices for our common stock as reported by the OTCPK in 2020 through September, and the OTCQB from October, 2020 through present.
−Removed: These quotations reflect inter-dealer prices, without retail mark-up, markdown, or commission, and may not represent actual transactions.
−Removed: Trading in our common stock during the period represented was infrequent, exemplified by low trading volume and many days during which no trades occurred.
−Removed: For the Fiscal Year/Quarter
+Added: The following table sets forth the high and low bid prices for our common stock as reported by the OTCQB from January 1, 2021 through August 30, 2022 and as reported on the Nasdaq Capital Market from September 1, 2022 through December 31, 2022.
+Added: The quotations for prices during our listing on the OTCQB reflect inter-dealer prices, without retail mark-up, markdown, or commission, and may not represent actual transactions.
+Added: Trading in our common stock during our listing on the OTCQB was generally infrequent, exemplified by low trading volume and many days during which no trades occurred.
First Quarter
+Added: $ 5.00 – 2.00
+Added: $ 6.45 – 2.42
Second Quarter
+Added: $ 4.55 - 2.20
+Added: $ 6.25 – 3.60
Third Quarter
+Added: $ 4.32 - 1.84
+Added: $ 5.50 – 3.50
Fourth Quarter
+Added: $ 2.73 - 1.81
+Added: $ 4.15 – 2.66
As of the date of this filing, we had approximately 253 holders of record of our common stock.
−Removed: On December 8, 2020, our Board of Directors declared a cash dividend of $0.05 per share to our shareholders of record as of December 21, 2020.
−Removed: The dividend was paid on January 4, 2021.
On September 17, 2021, our Board of Directors declared a cash dividend of $0.10 per share to our shareholders of record as of October 15, 2021.
The dividend was paid on October 29, 2021.
+Added: The company does not expect that the Board of Directors will declare any cash dividends in the foreseeable future.
Securities Authorized for Issuance Under Equity Compensation Plans
−Removed: As of December 31, 2021, we had no outstanding options, warrants or other rights to purchase any equity securities of the Company under any equity compensation plan or “individual compensation arrangement,” as defined in Item 201 of Regulation S-K.
−Removed: Furthermore, as of the date of this filing, we are not a party to any equity compensation plan, nor are we obligated under any “individual compensation arrangement” to issue any options, warrants, rights or other securities.
−Removed: We are not required by applicable state law or the listing standards of any self-regulatory agency (e.g., the OTCQX, NASD, AMEX or NYSE) to obtain the approval of our security holders prior to issuing any such compensatory options, warrants or other rights to purchase securities of the Company.
−Removed: In August 2020, the Compensation Committee approved, and the Company issued, 50,000 shares of restricted stock to each of Mr.
−Removed: Polinsky and Joseph A.
−Removed: The shares vested on the one-year anniversary of their issuance and until such time are subject to forfeiture.
+Added: Plan category
+Added: Number of securities to be issued upon exercise of outstanding options, warrants and rights
+Added: Weighted-average exercise price of outstanding options, warrants and rights
+Added: Number of securities remaining available for future issuance under equity compensation plans (excluding securities reflected in column (a))
+Added: Equity compensation plans approved by security holders
+Added: Equity compensation plans not approved by security holders
+Added: The securities reflected in column (a) above were issued pursuant to the company’s 2022 Stock Incentive Plan.
+Added: These securities were not approved by security holders as of December 31, 2022;
+Added: but were subsequently approved by security holders on January 20, 2023.
+Added: See below “Recent Sales of Unregistered Securities” for further information.
Recent Sales of Unregistered Securities
+Added: In August 2020, the company issued 22,223 shares of restricted stock to executive officers.
+Added: Under their terms, the shares vested on the one-year anniversary of their issuance and, until such time, were subject to forfeiture.
+Added: These shares were issued in a private offering exempt from registration under Section 4(a)(2) the Securities Act of 1933.
+Added: No proceeds were received in connection with the issuance of these restricted shares, as they were issued for compensatory purposes.
+Added: In April 2022, the company issued an aggregate of 28,889 shares of restricted stock to directors and executive officers.
+Added: Under their terms, the shares vest on the one-year anniversary of their issuance and, until such time, remain subject to forfeiture.
+Added: These shares were issued in a private offering exempt from registration under Section 4(a)(2) the Securities Act of 1933.
+Added: No proceeds were received in connection with the issuance of these restricted shares, as they were issued for compensatory purposes.
+Added: In September 2022, the company issued an aggregate of 25,448 shares of restricted stock to certain directors and executive officers.
+Added: These shares were issued in a private offering exempt from registration under Section 4(a)(2) the Securities Act of 1933, and were issued for in lieu of cash compensation owing to such individuals.
+Added: In September 2022, the company issued an aggregate of 6,667 shares of restricted stock to certain employees of the company.
+Added: Under their terms, the shares vest on the three-year anniversary of their issuance and, until such time, are subject to forfeiture.
+Added: These shares were issued in a private offering exempt from registration under Section 4(a)(2) the Securities Act of 1933.
+Added: No proceeds were received in connection with the issuance of these restricted shares, as they were issued for compensatory purposes.
+Added: In November and December 2022, the company issued options for the purchase of an aggregate of 870,000 shares of common stock to officers, directors and employees of, and consultants to, the company contemporaneously with the adoption of a 2022 Stock Incentive Plan.
+Added: These option grants were made subject to subsequent shareholder approval of the 2022 Stock Incentive Plan in accordance with Nasdaq rules.
+Added: The options were granted pursuant to Section 4(a)(2) of the Securities Act of 1933 and other applicable exemptions.
+Added: The shareholders of the company subsequently approved the 2022 Stock Incentive Plan on January 20, 2023 at a special meeting of shareholders called for that purpose.
Recent Purchases of Securities
−Removed: During 2020, the Company engaged in the following repurchases of its common stock, all of which were consummated in private transactions:
−Removed: ● 100,000 shares on May 6, 2020, at a per-share price of $0.50;
−Removed: ● 270,667 shares on May 19, 2020, at a per-share price of $0.40;
−Removed: ● 10,822 shares in the aggregate on December 1, 2020, at a per-share price of $0.43.
Compared sentence by sentence after normalising whitespace, quotation marks, case and digits, so re-formatting and restated figures do not read as changed language. Wording changes appear as one removal and one addition. The current filing and the prior one are authoritative.