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The plan grants incentives to select persons who can make, are making and continuing to make substantial contributions to the growth and success of the Company, to attract and retain the employment and services of such persons and to encourage and reward such contributions by providing these individuals with an opportunity to acquire or increase stock ownership in the Company through either the grant of options or restricted stock.
−Removed: The 2019 Plan is administered by the Compensation Committee or such other committee (the “Committee”) as is appointed by the Board of Directors pursuant to the 2019 Plan.
−Removed: The Committee has full authority to administer and interpret the provisions of the 2019 Plan including, but not limited to, the authority to make all determinations with regard to the terms and conditions of an award made under the 2019 Plan.
−Removed: On September 18, 2024, the Company filed a Certificate of Change with the Nevada Secretary of State to effect a reverse stock split of its common stock at a rate of 1-for-20 (the “Reverse Stock Split”), which became effective as of October 3, 2024 (the “Effective Date”).
+Added: The 2019 Plan is administered by the Compensation Committee or such other committee as may be appointed by the Board of Directors pursuant to the 2019 Plan.
+Added: The Compensation Committee has full authority to administer and interpret the provisions of the 2019 Plan, including, but not limited to, the authority to make all determinations with regard to the terms and conditions of awards made under the 2019 Plan.
+Added: On September 18, 2024, the Company filed a Certificate of Change with the Nevada Secretary of State to effect a reverse stock split of its common stock at a rate of 1-for-20 (the "Reverse Stock Split"), which became effective as of October 3, 2024.
The Reverse Stock Split was approved by the Board of Directors in accordance with Nevada law.
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On June 16, 2025, the shareholders approved an amendment to, the 2019 Plan to increase the number of shares issuable pursuant to awards granted under the 2019 Plan from 500,000 shares to 10,000,000 shares.
+Added: On August 19, 2025, the shareholders approved an amendment to the 2019 Plan to increase the number of shares issuable pursuant to awards granted under the 2019 Plan from 10,000,000 shares to 25,000,000 shares.
The following table summarizes information, as of June 30, 2026, relating to compensation plans under which equity securities are authorized for issuance.
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Equity compensation plans not approved by security holders
+Added: _____________
* Consists of 664,200 options outstanding and 4,627,252 RSUs outstanding.
** There have been 10,919 shares issued for the exercise of stock options and 651,573 shares issued for vested RSUs.
−Removed: On August 19, 2025, subsequent to the year ended June 30, 2025, the shareholders approved an amendment to the 2019 Plan to increase the number of shares issuable pursuant to awards granted under the 2019 Plan from 10,000,000 shares to 25,000,000 shares.
Recent Sales of Unregistered Securities;
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On July 16, 2025, the Company issued secured convertible notes in the aggregate principal amount of approximately $151.2 million, convertible into 35,569,224 shares of common stock at $4.25 per share.
−Removed: On July 11, 2025, the Company issued 12,457,186 shares of Common Stock, at an offering price of $4.00 per share and $4.94 per share for certain members of the Company’s management and members of the board of directors.
−Removed: On April 24, 2025, the Company issued:
−Removed: (i) 35,970,383 shares of Common Stock, at an offering price of $2.28 per share, and (ii) pre-funded warrants (the “Pre-Funded Warrants”) to purchase 7,889,266 shares of Common Stock (the “Pre-Funded Warrant Shares”) at an offering price of $2.279 per Pre-Funded Warrant.
−Removed: Each of the Pre-Funded Warrants is exercisable for one share of Common Stock at the exercise price of $0.001 per Pre-Funded Warrant Share, are immediately exercisable, and may be exercised at any time until all of the Pre-Funded Warrants are exercised in full.
−Removed: On April 24, 2025, the Company issued 241,228 shares of common stock as repayment of $550,000 of the Company’s debt.
−Removed: The shares were valued at $550,000 or $2.28 per share.
−Removed: In February of 2025, the Company issued 125,000 shares of common stock to two different investors for the repayment of $250,000 of outstanding debt.
−Removed: The average share price for the repayment of debt was approximately $2.00 per common share issued.
−Removed: In January of 2025, the Company issued 260,000 shares of common stock to two different investors for the repayment of $600,000 of outstanding debt.
−Removed: The weighted average share price for the repayment of debt was approximately $2.31 per common share issued.
+Added: On July 11, 2025, the Company issued 12,457,186 shares of common stock, at an offering price of $4.00 per share and $4.94 per share to certain members of the Company’s management and members of the Board of Directors.
+Added: On November 13, 2025, the Company announced a program to repurchase up to $50.0 million of its own common stock.
+Added: The program does not obligate the Company to acquire any specific number of shares and may be suspended or discontinued at any time.
+Added: On November 26, 2025, the Company issued in the aggregate 3,289,474 shares of common stock and 3,289,474 common stock purchase warrants to purchase up to 3,289,474 shares of common stock for an aggregate purchase price of $10.0 million, representing a purchase price of $3.04 per share of common stock and accompanying warrant.
+Added: Each warrant is exercisable for one share of common stock at an exercise price of $4.00 per share.
+Added: On January 9, 2026, the Company issued secured convertible notes in the original principal amount of approximately $36.0 million, convertible into 15,046,851 shares of common stock at $2.39 per share.
+Added: On June 21, 2026, the Company issued 5,250,000 shares of common stock and 6,992,300 pre-funded common stock purchase warrants to purchase up to 6,992,300 shares of common stock for aggregate purchase price of approximately $19.5 million, representing an effective purchase price of $1.60 per share of common stock and accompanying warrant.
+Added: Each pre-funded warrant is exercisable for one share of common stock at an exercise price of $0.00001 per share.
All of the securities issued by the Company as described above were issued pursuant to the exemption for transactions by an issuer not involved in any public offering under Section 4(a)(2) of the Securities Act and Rule 506 of Regulation D promulgated thereunder and corresponding state securities laws.
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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.