Subsequent Events |
3 Months Ended |
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Mar. 31, 2025 | |
Subsequent Events [Abstract] | |
Subsequent Events | Note 16 – Subsequent Events
Management evaluated all activities of the Company through the issuance date of the Company’s unaudited condensed consolidated financial statements and concluded that except as noted below, no subsequent events have occurred that would require adjustment or disclosure into the unaudited condensed consolidated financial statements.
Subsequent to March 31, 2025, the Company has repaid $387,115 of principal and $222,861 of interest.
Subsequent to March 31, 2025 the Company has entered into a supplier agreement with an entity to deliver its finished goods to the Company's customers.
Subsequent to March 31, 2025 the Company has issued 442,005 shares of common stock to noteholders as part of an assignment, assumption and release agreement whereby the Company issued shares of common stock in lieu of issuing warrants to the noteholders.
On April 16, 2025, the Board of Directors met to set the 2025 Annual Meeting Date of June 18, 2025. At the Annual Meeting, we will ask stockholders to (i) elect five (5) persons to our board of directors (Proposal 1), (ii) ratify the appointment of RBSM LLP as the Company’s independent auditors for our fiscal year ending December 31, 2025 (Proposal 2), (iii) approve a proposed amendment to the Synergy CHC Corp. 2024 Equity Incentive Plan (the “2024 Plan”) to increase the aggregate number of shares of our common stock, par value $0.00001 per share (the “Common Stock”), available for issuance under the 2024 Plan to 2,252,102 shares of Common Stock (Proposal 3), (iv) approve an amendment to the Articles of Incorporation to provide authority to issue up to 1,000,000 shares of preferred stock (Proposal 4) and (v) transact such other business as may properly come before the Annual Meeting or any postponement or adjournment thereof.
On May 2, 2025, the Company has established a wholly owned subsidiary in Mexico. |