Item 2. Unregistered Sales of Equity Securities
Item
2. Unregistered Sales of Equity Securities and Use of Proceeds
●
During the three months ended March 31, 2026, the
Company granted an aggregate of 90,006 stock options to certain directors of the Company under the Company’s 2022 Equity Incentive
Plan. The options have an exercise price of $1.66 per share, vest ratably over three years, and expire on February 9, 2036. The grants
were made prior to the filing of the Company’s Registration Statement on Form S-8 covering shares issuable under the plan. No underwriters
were involved, and no commissions were paid. The directors represented that the options were acquired for investment purposes and not
with a view toward distribution. The options were issued in reliance on the exemption from registration provided by Section 4(a)(2) of
the Securities Act of 1933, as amended. No underwriters were involved, and no commissions were paid.
28
Purchases of Equity Securities by the Issuer and
Affiliated Purchasers
None.
Item
3. Defaults Upon Senior Securities
None.
Item
4. Mine Safety Disclosures
Not
applicable.
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.