v3.26.1
Subsequent Events
6 Months Ended
Jun. 30, 2026
Subsequent Events  
Subsequent Events

Note 9 – Subsequent Events

 

Settlement of RSUs

 

On July 13, 2026, 50 RSUs previously granted to an employees vested and settled resulting in the issuance of 50 shares of common stock, all of which were issued pursuant to the 2015 Plan.

 

RSUs Cancellations

 

On July 7, 2026, 184 RSUs previously granted to employees of the Company were cancelled under the 2015 Plan upon termination prior to vesting.

 

On July 7, 2026, 260 RSUs previously granted to employees of the Company were cancelled under the 2024 Plan upon termination prior to vesting.

 

On July 17, 2026, 574 RSUs previously granted to employees of the Company were cancelled under the 2015 Plan upon termination prior to vesting.

 

On July 17, 2026, 890 RSUs previously granted to employees of the Company were cancelled under the 2024 Plan upon termination prior to vesting.

 

Reduction in Authorized Share Capital

 

On May 11, 2026, the Board of Directors of the Company unanimously approved the Fourth Amendment to the Restated Certificate to reduce the number of authorized shares of common stock, $0.001 par value per share, issuable under the Restated Certificate from 325,000,000 to 150,000,000.This proposal was approved at the Annual Meeting of Stockholders on July 17, 2026.

 

Shares Issued in Repayment/Conversion of Convertible Notes

 

On July 14, 2026, the Company issued an aggregate of 116,651 shares of common stock to Lind in repayment of amounts due under the 2026 Lind Note. The shares were issued at the applicable repayment share prices determined in accordance with the terms of the 2026 Lind Note and satisfied an aggregate of approximately $133,333 of repayment obligations. Refer to Note 6 – Common Stock, and Note 8 – Commitments and Contingencies, for additional information regarding the Company’s outstanding convertible notes.

 

On July 16, 2026, the Company issued an aggregate of 372,023 shares of common stock to Lind in repayment of amounts due under the 2026 Lind Note. The shares were issued at the applicable repayment share prices determined in accordance with the terms of the 2025 Lind Note and satisfied an aggregate of approximately $416,666 of repayment obligations. Refer to Note 6 – Common Stock, and Note 8 – Commitments and Contingencies, for additional information regarding the Company’s outstanding convertible notes.

 

On August 5, 2026, the Company issued an aggregate of 290,697 shares of common stock to Lind in conversion of amounts due under the 2025 Lind Note. The shares were issued at the applicable conversion share prices determined in accordance with the terms of the 2025 Lind Note and satisfied an aggregate of approximately $200,000 of conversion obligations. Refer to Note 6 – Common Stock, and Note 8 – Commitments and Contingencies, for additional information regarding the Company’s outstanding convertible notes.

 

On August 11, 2026, the Company issued an aggregate of 220,264 shares of common stock to Lind in conversion of amounts due under the 2025 Lind Note. The shares were issued at the applicable conversion share prices determined in accordance with the terms of the 2025 Lind Note and satisfied an aggregate of approximately $150,000 of conversion obligations. Refer to Note 6 – Common Stock, and Note 8 – Commitments and Contingencies, for additional information regarding the Company’s outstanding convertible notes.

 

2025 ATM Sales Agreement

 

During the period from July 1, 2026 through August 7, 2026, the Company sold 605,360 shares of common stock for aggregate proceeds (net of broker commissions and fees) of approximately $509,528 under the 2025 ATM Sales Agreement with Jones Trading.