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 commenced trading on The Nasdaq Capital Market under the symbol “WKSP” on August 4, 2021. Prior to trading on
Nasdaq, our common stock was quoted on the OTCQB Market under the symbol “WKSP.”
Holders
of Common Stock
On
March 27, 2025, there were 344 holders of record of our common stock.
Stock
Transfer Agent
Our
transfer agent is Vstock Transfer, LLC., located at 18 Lafayette Place, Woodmere, NY 11598. Their telephone number is (212) 828-8436.
Dividend
Policy
We
do not expect to pay cash dividends in the foreseeable future. Any future decision to pay dividends will be at the discretion of our
board and will depend, among other things, on earnings, financial condition, level of indebtedness, provisions of our existing credit
agreements and other factors that our board deems relevant.
31
Unregistered
Sales of Equity Securities
●
Warrants
to purchase 770,026 shares of common stock of the Company at an exercise price of $7.40 per share, subject to adjustment for reverse
stock splits, recapitalizations and reorganizations, which are exercisable six months after the date of issuance, or September 20,
2024, until the five and a half-year anniversary date of the date of issuance, or September 20, 2029.
●
On
May 31, 2024, the Company issued warrants to purchase up to 1,295,000 shares of the Company’s common stock in connection with
entering into the Inducement Offer Letter with a certain holder of existing warrants, pursuant to which the Holder agreed to exercise
for cash its Existing Warrants to purchase an aggregate of 700,000 shares of the Company’s common stock, at a reduced exercised
price of $0.5198 per share. Each Inducement Warrant has an exercise price equal to $5.198 per share and will be exercisable at any
time on or after the date that is six (6) months from the issuance date provided that stockholder approval is obtained and will have
a term of exercise of five and one half (5½) years following the date of issuance. The Company engaged Maxim Group LLC (“Maxim”)
to act as its exclusive warrant solicitation agent and financial advisor in connection with the warrant inducement transaction and
paid Maxim a cash fee equal to 7.0% of the gross proceeds received from the exercise of the Existing Warrants. The Company used and
is expecting to use the net proceeds of these transactions for general corporate purposes, including working capital.
●
On September 19, 2024, the Company issued 95,000 shares of common stock to an investor at a $0.40 per share purchase price and warrants
to purchase up to 190,000 shares of common stock at an exercise price of $0.40 per share. The warrants will be exercisable for a period
of five year from the date of issuance.
The
issuance of the securities listed above was deemed exempt from registration under Section 4(a)(2) of the Securities Act or Regulation D
promulgated thereunder in that the issuance of securities were made to an accredited investor and did not involve a public offering.
The recipient of such securities represented its intention to acquire the securities for investment purposes only and not with a view
to or for sale in connection with any distribution thereof.
Securities
Authorized for Issuance Under Equity Compensation Plans
See
“Part III, Item 12, Security Ownership of Certain Beneficial Owners and Management and Related Stockholder Matters—Equity
Incentive Plans” of this report which is incorporated herein by reference.
Equity
Incentive Plans
See
“Part III Item 11, Executive Compensation” of this report which is incorporated herein by reference.
32
ITEM
6. [RESERVED].