Unregistered Sales of Equity Securities and Use of Proceeds.
−Removed: Except as disclosed below, since the beginning of our fiscal quarter ended September 30, 2022, we have not sold any equity securities that were not registered under the Securities Act of 1933 that were not previously reported in a current report on Form 8-K.
−Removed: On July 29, 2022, we granted Frank Lazaran, our president, chief executive officer and director, an award of 500,000 shares of our common stock as a "restricted award" under the employment agreement dated July 29, 2022 with Mr.
−Removed: Lazaran and our 2020 equity incentive plan.
−Removed: These shares vested as of July 29, 2022.
−Removed: On July 29, 2022, we granted Mr.
−Removed: Lazaran stock options to purchase 1,000,000 shares of our common stock pursuant the employment agreement and our 2020 equity incentive plan.
−Removed: Each stock option is exercisable at a price of $0.428 per share until July 29, 2032.
−Removed: The stock options will vest as to 50% on each anniversary of the grant date.
−Removed: We granted the awards of these shares and stock options to one U.S.
−Removed: Person (as that term is defined in Regulation S of the Securities Act of 1933) and in granting these awards we relied on the registration exemption provided for in Section 4(a)(2) of the Securities Act of 1933.
+Added: Since the beginning of our fiscal quarter ended December 31, 2022, we have not sold any equity securities that were not registered under the Securities Act of 1933 that were not previously reported in a quarterly report on Form 10-Q or in a current report on Form 8-K.
Defaults Upon Senior Securities.
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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.