| Stockholders’ Equity |
Note
2 – Stockholders’ Equity
Common
Stock
During
the six months ended June 30, 2025, we issued the following shares of common stock:
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On
January 29, 2025, we sold 1,030,972
shares of our common stock, pre-funded warrants to purchase up to 7,019,700
shares of our common stock, and accompanying Series A Warrants to purchase up to 8,050,672
shares of our common stock and Series B Warrants to purchase up to 4,025,336
shares of our common stock for net proceeds of $4.4
million, after deducting placement agent fees and offering-related expenses under a best efforts public offering (the “January
PO”) at a combined purchase price of $0.615
for institutional investors and $0.7975
for the Company’s Chief Executive Officer and certain board members who participated in the offering. The Series A and B
Warrants both have an exercise price of $0.65
per share of common stock, and were subject to stockholder approval, which was obtained at our annual stockholder meeting on July
18, 2025. The Series A Warrants will expire on July 18, 2030 and the Series B Warrants will expire on January 18, 2027. At June 30,
2025, all pre-funded warrants sold in this offering were exercised; |
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On
June 18, 2025, we sold 14,310,000
shares of our common stock, pre-funded warrants to purchase up to 13,690,000
shares of our common stock. and accompanying common warrants to purchase up to 28,000,000
shares of our common stock for net proceeds of $6.2
million, after deducting placement agent fees and offering-related expenses under a best efforts public offering (the “June
PO”). We sold one share of our common stock and accompanying common warrant at a combined price of $0.25
per share, and a pre-funded warrant and accompanying common warrant at a combined price of $0.2499
per share. The common warrants have an exercise price of $0.25
per share, are immediately exercisable and expire five years after their original issuance. The pre-funded warrants have an exercise
price of $0.0001
and are also immediately exercisable. We issued placement agent warrants to purchase up to 1,120,000
shares of common stock at an exercise price of $0.31
per share. During the six months ended June 30, 2025, warrants to purchase 400,000
shares of common stock for $100,000 and all pre-funded warrants sold in this offering were exercised; |
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74,804
shares of common stock to employees, net of 23,768 shares of common stock withheld for income and FICA taxes owed upon the distribution
of the shares; and |
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56,252
shares of common stock in connection with consulting agreements. |
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