Item 2. Unregistered Sales of Equity Securities
Item 2. Unregistered Sales of Equity Securities
and Use of Proceeds
On April 23, 2024, following approval by the Company’s Board of Directors, stockholders holding all of the Company’s outstanding
preferred stock approved a stock repurchase program (the “Repurchase Program”), pursuant to which the Company is authorized
to purchase up to $1 million of its common stock over an unlimited time period. The Repurchase Program is designed to comply with Rules
10b-18 and 10b5-1, each as promulgated under the Exchange Act.
The table below summarizes the repurchases effectuated pursuant to the Repurchase
Program during the quarter ended September 30, 2024:
Month
Total
Number of
Shares
Purchased (1)
Average
Price Paid
per Share
Total
Number of
Shares
Purchased
as Part of
Publicly
Announced
Plans or
Programs (1)
Approximate
Dollar
Value of
Shares that
May Yet Be
Purchased
Under the
Plans or
Programs (1)
July 2024
-
-
-
August 2024
-
-
-
-
September 2024
3,096
$ 0.64
3,096
$ 998,015
(1) Such shares were purchased pursuant to the Repurchase Program that was publicly announced
on April 23, 2024. The Company is authorized to purchase up to $1 million of its common stock pursuant to the Repurchase Program, which
has no expiration date.
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.