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
Class B Common Stock
Our Class B common stock is quoted on the NYSE
American stock exchange under the trading symbol ZDGE. Trading commenced on the NYSE American on June 1, 2016. On October 26, 2023, the
last sales price reported on the NYSE American for our Class B common stock was $1.95 per share.
On October 26, 2023, there were 271 holders of
record of our Class B common stock and 1 holder of record of our Class A common stock. As of October 26, 2023, all shares of Class A common
stock are beneficially owned by Michael Jonas. The number of holders of record of our Class B common stock does not include the number
of persons whose shares are in nominee or in “street name” accounts through brokers.
We do not anticipate paying dividends on our
common stock until we achieve sustainable profitability (after satisfying all of our operational needs) and retain certain minimum cash
reserves. Distributions will be subject to the need to retain earnings for investment in growth opportunities or the acquisition of complementary
assets. The payment of dividends in any specific period will be at the sole discretion of our Board of Directors.
The information required by Item 201(d) of Regulation
S-K will be contained in our Proxy Statement for our Annual Stockholders Meeting, which we will file with the Securities and Exchange
Commission within 120 days after July 31, 2023, and which is incorporated by reference herein.
Recent Sales of Unregistered Securities
None.
Performance Graph of Stock
We are a smaller reporting company as defined by Rule 12b-2 of the
Securities and Exchange Act of 1934 and are not required to provide the information under this item.
Issuer Repurchases of Equity Securities
In October 2021, our board of directors authorized
a repurchase program of up to 1.5 million shares of our Class B common stock at a maximum aggregate purchase price of $3.0 million. Repurchases
may be made from time to time through open market purchases or through privately negotiated transactions, subject to market conditions,
applicable legal requirements and other relevant factors. Open market repurchases may be structured to occur in accordance with the requirements
of Rule 10b-18. We may also, from time to time, enter into Rule 10b-5 trading plans to facilitate repurchases of its shares. The repurchase
program does not obligate us to acquire any particular amount of our Class A common stock, has no expiration date and may be modified,
suspended, or terminated at any time at our discretion.
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The following table summarizes the share repurchase activity for the
fourth quarter fiscal of 2023:
Period
Total
Number
of Shares
Purchased
Average Price
Paid
Per Share (1)
Total
Number of
Shares Purchased
as Part of Publicly
Announced
Programs
Approximate Dollar
Value of Shares that
May Yet Be
Purchased Under
the Program
(in thousands)
(in thousands)
(in thousands)
May 1 - 31, 2023
67
$ 1.98
67
$ 1,431
June 1 - 30, 2023
5
$ 2.02
5
$ 1,421
July 1 - 31, 2023
-
$ -
-
$ 1,421
Total
72
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(1) The average price paid per share includes any broker commissions.
Item 6. [Reserved].
Not applicable.