Changes in Stockholders’ Equity |
3 Months Ended |
|---|---|
Mar. 31, 2026 | |
| Equity [Abstract] | |
| Changes in Stockholders’ Equity | Note 13 – Changes in Stockholders’ Equity
Preferred Stock
The Company is authorized to issue shares of preferred stock, par value $ per share. As of March 31, 2026, shares of preferred stock were issued or outstanding.
Common Stock
The Company is authorized to issues shares of common stock, par value $ per share. As of March 31, 2026, a total of shares of common stock were issued and outstanding. Holder of common stock are entitled to one vote per share.
ATM Offerings
On January 27, 2026, the Company entered into an At-The-Market Issuance Sales Agreement with Alexander Capital, L.P., pursuant to which the Company could offer and sell shares of its common stock for aggregate gross proceeds of up to $1,500,000. During the three months ended March 31, 2026, the Company sold shares of common stock under the agreement for aggregate gross proceeds of $1,499,873. Net proceeds, after commissions and offering expenses, were approximately $1,429,044.
Exercise of Warrants
On February 24, 2026, warrants were exercised to purchase shares of the Company’s common stock at an exercise price of $1.00 per share, resulting in aggregate cash proceeds of $37,500.
Conversion of Convertible Note Principal into Common Stock
On January 28, 2026, Kaufman Kapital converted $500,000 of outstanding principal under the Convertible Note into shares of the Company’s common stock. The conversion was accounted for as a non-cash financing activity.
Foreign Currency Translation
Foreign currency translation adjustments, primarily related to the Company’s foreign operations in Peru, decreased accumulated other comprehensive income by $56,245 during the three months ended March 31, 2026.
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