Note 6 - Stockholders' Equity |
6 Months Ended | ||
|---|---|---|---|
Jun. 30, 2025 | |||
| Notes to Financial Statements | |||
| Equity [Text Block] |
The Company has 5,000,000 authorized shares of its preferred stock, par value $0.00001 per share, on June 30, 2025 and December 31, 2024. There was no outstanding shares of preferred stock on June 30, 2025 and December 31, 2024.
The Company has 350,000,000 authorized shares of its common stock, par value per share, of which 3,220,058 and 1,987,262 shares of the Company's common stock were outstanding on June 30, 2025 and December 31, 2024, respectively.
A&R SEPA
On September 23, 2024, the Company entered into the Original SEPA, which was amended and restated pursuant to the A&R SEPA on October 31, 2024. Pursuant to the A&R SEPA, except for so long as there is a balance outstanding under the Promissory Notes and the Additional Promissory Notes and subject to certain limitations and conditions set forth therein, the Company has the right, but not the obligation, to sell to the Investor, and the Investor agreed to purchase from the Company, an aggregate amount of up to $25,000,000 of shares of the Company’s common stock at the Company's request, from time to time, until November 1, 2027. See Note 6 – Debt.
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