Shareholders’ Equity |
3 Months Ended |
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Mar. 31, 2026 | |
| Equity [Abstract] | |
| Shareholders’ Equity | Note 7: Shareholders’ Equity
Public Offering of Common Stock
On July 30, 2025, the Company entered into an underwriting agreement (the “UA”) with Craig-Hallum Capital Group, in its capacity as underwriter, relating to the issuance and sale of shares of the Company’s common stock at a price of $ per share. The closing of the Offering occurred on August 1, 2025.
Total gross proceeds from the Offering were $5,749,400. Net proceeds, after legal expenses, underwriting discounts and offering expenses, were $4,940,690. The Company intends to use the proceeds for working capital and general corporate purposes, such as product development, sales and marketing.
Joseph Hazelton, our President and Chief Operating Officer, purchased shares of the Company’s common stock in the Offering at the public offering price.
In consideration for Craig-Hallum serving as the underwriter of the Offering, the Company paid the Underwriter a cash fee equal to 7% of the aggregate gross proceeds raised in the Offering, reimbursed the Underwriter for certain expenses and legal fees in the amount of $75,000, and issued the Underwriter Warrants.
Issuances of Common Stock Related to Stock Options and RSU’s
For the three months ended March 31, 2026, there were shares issued from the vesting of restricted stock units with a weighted average issue price of $ per share.
Treasury Stock
As of March 31, 2026, there were shares of common stock held in treasury, at a cost of approximately $18.9 million, representing the purchase price on the date the shares were surrendered to the Company.
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