Item 5. Market for Registrant’s Common Equity
ITEM
5. MARKET FOR COMMON EQUITY, RELATED STOCKHOLDER MATTERS, AND ISSUER PURCHASES OF EQUITY SECURITIES
Our
common stock trades on the Nasdaq Capital Market under the symbol “SRM”. The closing price of our common stock on the Nasdaq
Capital Market on March 28 , 2025 was $ 0.453 .
Holders
As
of March 25, 2025, there were 31 shareholders of record. Since certain shares of our common stock are held by brokers and other institutions
on behalf of stockholders, the foregoing number of holders of our common stock is not representative of the number of beneficial holders
of our common stock.
Dividends
We
do not anticipate paying any cash dividends on our common stock in the foreseeable future and we intend to retain all of our
earnings, if any, to finance our growth and operations and to fund the expansion of our business. Payment of any dividends will be
made in the discretion of our Board of Directors, after our taking into account various factors, including our financial condition,
operating results, current and anticipated cash needs and plans for expansion. No dividends may be declared or paid on our shares of
common stock, unless a dividend, payable in the same consideration or manner, is simultaneously declared or paid, as the case may
be, on our shares of preferred stock, if any.
Issuance
of Unregistered Securities
During
the year ended December 31, 2024, the Company issued: (i) 200,000 shares of its restricted common stock from stock payable valued at
$354,000; (ii) 1,500,000 shares of its restricted common stock in connection with the purchase of intangible assets valued at $1,143,000;
(iii) 250,000 shares of its restricted common stock in connection with a consulting agreement valued at $202,500; and (iv) 950,000 shares
of its restricted common stock for services to investor relations firms valued at $ 1,058,500.
These
issuances were made in reliance on an exemption from registration set forth in Section 4(a)(2) of the Securities Act, as transactions
by an issuer not involving a public offering.
Purchases
of Equity Securities by the Issuer and Affiliated Purchasers
There
were no issuer purchases of equity securities during the years ended December 31, 2024.
ITEM
6. RESERVED
Not
applicable to a smaller reporting company.
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