v3.25.1
SUBSEQUENT EVENTS
12 Months Ended
Dec. 31, 2024
Subsequent Events [Abstract]  
SUBSEQUENT EVENTS

NOTE 12-SUBSEQUENT EVENTS

 

On February 20, 2025, the Company entered into a Share Exchange Agreement with the members of Abundia Global Impact Group, LLC (“AGIG”). In the Share Exchange Agreement, the Company has agreed to issue to the members of AGIG a number of shares of our common stock equal to 94% of the Company’s issued and outstanding shares (after taking into account such issuance). As a result of entering into the Share Exchange Agreement, we will acquire all of the issued and outstanding units of AGIG, and AGIG will become a wholly-owned subsidiary of the Company. Under the Share Exchange Agreement, the Company is obligated to obtain shareholder approval for the amendment of our Certificate of Incorporation to increase the number of authorized shares of common stock to 300,000,000 and for the issuance of approximately 246,000,000 shares to the members of AGIG. The acquisition is subject to shareholder approval and standard closing conditions.

 

In January 2025, the Company sold 2,600,000 shares of its common stock in a registered direct offering for net proceeds of $3,897,000.

 

In January 2025, the Company issued 24,202 options to its CEO and 24,202 options to a board member as compensation. In February 2025, the Company issued 10,638 options to its CEO as compensation.