Stockholders’ Equity |
6 Months Ended | |||||||||||||||
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Jun. 30, 2026 | ||||||||||||||||
| Stockholders’ Equity [Abstract] | ||||||||||||||||
| STOCKHOLDERS’ EQUITY | NOTE 13 – STOCKHOLDERS’ EQUITY
Common Stock
The Company is authorized to issue up to 250,000,000 shares of common stock, $0.0001 par value per share. The Company has one class of common stock outstanding. Holders of the Company’s common stock are entitled to one vote per share. Upon the liquidation or dissolution of the Company, its common stockholders are entitled to receive a ratable share of the available net assets of the Company after payment of all debts and other liabilities. The Company’s shares of common stock have no pre-emptive, subscription, redemption or conversion rights.
As of June 30, 2026, and December 31, 2025, there were 200,169,035 and 194,165,141 common shares issued and outstanding respectively. Holders of common stock are entitled to one vote for each share of common stock.
Preferred Stock
The Company is authorized to issue up to 5,000,000 shares of preferred stock, $0.0001 par value per share. The Company has one class of preferred stock outstanding “Series A- Preferred Stock”.
As of June 30, 2026, and December 31, 2025, there were 1,000 shares of Series A Preferred Stock issued and outstanding.
Common Stock issued at the time of Merger
At Closing of the Merger on April 14, 2023, 135,808,884 shares of the Company’s common stock and 1,000 shares of the Company’s Series A Preferred Stock were issued to Cardio Ventures. This includes common stock that was issued to Dr. Frederic Moll and one other accredited investor, who each provided $3,000,000 in interim financing to the Company pending consummation of the Merger. Following the Merger an additional 3,818,028 shares of the Company’s common stock were issued to Dr. Frederic Moll per his interim financing agreement with the Company.
Common Stock issued post-Merger
On February 12, 2025, the Company issued 48,030 shares of common stock to an investor upon against the conversion of note amounting to $213,732 including interest thereon at a conversion price of $4.45 per share.
On February 13, 2025, the Company issued 30,010 and 30,008 shares of common stock to two investors, respectively, upon the conversion of notes amounting to $133,546 and $133,534, including interest thereon, respectively at a conversion price of $4.45 per share.
On February 20, 2025, the Company issued 16,046,814 shares of common stock to Sushruta Pvt Ltd upon against the conversion of notes amounting to $22,144,603 including interest thereon, at a conversion price of $1.38 per share.
On March 1, 2025, the Company issued 7,858 common shares to one ex-employee and 2,619 shares of common stock to an ex-director of the Company upon cashless exercise of stock options previously granted to them under the Company’s 2016 Stock Incentive Plan.
On March 31, 2025, the Company issued 5,811,554 shares of common stock to Sushruta Pvt Ltd, upon the conversion of notes amounting to $8,019,945, including interest thereon, at a conversion price of $1.38 per share.
On April 2, 2025, the Company issued 3,163 shares of common stock to an advisory firm in accordance with terms of the engagement document signed with them to provide production and graphics services to the Company.
On April 30, 2025, the Company issued 1,639 shares of common stock to an advisor in exchange for rendering services in accordance with the agreement entered with the advisor.
On May 22, 2025, the Company issued 20,000 shares of common stock to an advisor in exchange for advisory services to be rendered over a 5-year period. The total value of such services is $196,800. The value of services is calculated at the fair market value of the shares as of the date of the advisory services contract.
On May 28, 2025, the Company issued 7,431 shares of common stock to one individual upon the cashless exercise of a stock option previously granted under the Company’s 2016 Stock Incentive Plan.
On August 28, 2025, the Company issued 4,000 shares of common stock to an advisor in exchange for advisory services to be rendered over a 5-year period. The total value of such services is $43,560. The value of services is calculated at the fair market value of shares as of the date of the advisory services contract.
On October 1, 2025, the Company issued 28,739 shares of common stock to four advisors in exchange for advisory services to be rendered. The shares were issued pursuant to advisory arrangements, and the value of the services was determined based on the fair market value of the Company’s common stock on the date of issuance.
On October 22, 2025, the Company issued 16,000 shares of common stock to one individual in exchange for advisory services to be rendered. The total value of such services is $174,200. The value of services is calculated at the fair market value of the Company’s common stock on the date of the advisory services agreement.
On November 27, 2025, the Company issued 527,325 shares of common stock to employees pursuant to stock grant awards under the Company’s 2016 Stock Incentive Plan. The stock grants were issued in recognition of employee services, and the related compensation expense was recognized in accordance with applicable accounting guidance.
On December 12, 2025, the Company issued 667 shares of common stock to one individual upon the exercise of warrants previously issued by the Company. The warrants were exercised at $2.50 per share in accordance with their terms resulting in net proceeds to the Company of $2,500.
On January 9, 2026, the Company issued 191,555 shares of common stock to employees pursuant to stock grant awards under the Company’s 2016 Stock Incentive Plan. The stock grants were issued in recognition of employee services, and the related compensation expense was recognized in accordance with applicable accounting guidance.
On March 6, 2026, the Company issued 5,774,839 shares of common stock under a private placement consisting of:
On June 20, 2026, the Company issued 37,500 shares of its common stock to an individual in connection with a consulting services agreement. The shares were issued as consideration for services to be provided to the Company pursuant to the terms of the agreement. |