Common Stock |
6 Months Ended |
|---|---|
Jun. 30, 2026 | |
| Common Stock [Abstract] | |
| COMMON STOCK | 16. COMMON STOCK
Securities Purchase Agreement
On December 24, 2020, the Company entered into a securities purchase agreement with certain purchasers, pursuant to which the Company sold to the purchasers in a registered direct offering, an aggregate of 26,316 units, each consisting of one share of the Company’s common stock and a warrant to purchase 1 share of the Company’s Common Stock, at a purchase price of $304 per unit, for aggregate gross proceeds to the Company of $8,000,007, before deducting fees to the placement agent and other offering expenses payable by the Company. On December 29, 2020, the Company issued Units consisting of an aggregate of 26,316 shares of the Company’s Common Stock and warrants to purchase up to an aggregate of 26,316 shares of the Company’s Common Stock at an exercise price of $344 per share (the “Investors’ Warrants”). The Investors’ Warrants have a term of five years and are exercisable by the holder at any time after the date of issuance. In connection with the offering, the Company also issued placement agent a warrant to purchase 263 shares of the Company’s Common Stock (the “Placement Agent Warrant”) on substantially the same terms as the Investors’ Warrants, except that the Placement Agent Warrant has an exercise price of $380 per share and is not exercisable until June 24, 2021. As of December 31, 2024, outstanding warrants have 263 shares of the Company’s Common Stock. Warrants after 1-for-10 reverse stock split in April 2025, 1-for-4 reverse stock split in January 2026 and 1-for-4 reverse stock split in July 2026 were 263 shares with an exercise price of $380 per share. All outstanding warrants have expired as of December 31, 2025.
Common stocks issued in connection with the convertible notes
Convertible notes payable I
On December 27, 2023, the Company entered into a Securities Purchase Agreement with Streeterville Capital, LLC, a Utah limited liability company (the “Lender”), pursuant to which the Company sold and issued to the Lender a Convertible Promissory Note (the “Note”) in the principal amount of $1,100,000.
On July 3, 2024, that Lender elected to redeem a portion of the Note I in redemption conversion shares. Lender redemption conversion shares 854, amount $50,000, at a price of $58.548 per share.
On July 18, 2024, that Lender elected to redeem a portion of the Note I in redemption conversion shares. Lender redemption conversion shares 1,357, amount $75,000, at a price of $55.268 per share.
On August 26, 2024, that Lender elected to redeem a portion of the Note I in redemption conversion shares. Lender redemption conversion shares 2,552, amount $100,000, at a price of $39.184 per share.
On October 24, 2024, that Lender elected to redeem a portion of the Note I in redemption conversion shares. Lender redemption conversion shares 2,442, amount $100,000, at a price of $40.95 per share.
On November 11, 2024, that Lender elected to redeem a portion of the Note I in redemption conversion shares. Lender redemption conversion shares 2,442, amount $100,000, at a price of $40.95 per share.
On November 14, 2024, that Lender elected to redeem a portion of the Note I in redemption conversion shares. Lender redemption conversion shares 2,462, amount $100,000, at a price of $40.617 per share.
On December 18, 2024, that Lender elected to redeem a portion of the Note I in redemption conversion shares. Lender redemption conversion shares 2,739 amount $100,000, at a price of $36.512 per share.
On January 7, 2025, that Lender elected to redeem a portion of the Note I in redemption conversion shares. Lender redemption conversion shares 2,680, amount $100,000, at a price of $37.313 per share.
On January 24, 2025, that Lender elected to redeem a portion of the Note I in redemption conversion shares. Lender redemption conversion shares 1,145, amount $40,658, at a price of $35.509 per share.
On September 10 and 11, 2025, that Lender elected to redeem the entire balance of the Note I through the issuance of 12,459 redemption conversion shares, at a price of $36.019 per share, for a total redemption amount of $448,759. Convertible notes payable II
On July 28, 2025, the Company entered into a Convertible Notes Agreement (“Agreement”) with an institutional investor (the “Investor”), pursuant to which the Investor agreed to purchase from the Company, and the Company agreed to issue and sell to the Investor, one or more pre-paid purchases (each a “Pre-Paid Purchase” and together the “Pre-Paid Purchases”) in the aggregate purchase amount of up to $10,000,000 for the purchase of the Company’s common stock. On July 28, 2025, the Company received its first funding of $800,000 as the Initial Pre-Paid Purchase. On September 22, 2025, the Company received its second funding of $1,000,000 from the Investor. On May 20, 2026, the Company received its third funding of $2,000,000 from the Investor.
On September 15, 2025, the Company issued 3,750 shares of common stock to the Investor as a commitment fee.
On September 22, 2025, the Company issued 90,313 shares of common stock pursuant to the Agreement, at a par value of $0.001 per share.
On January 23, 2026, the Investor elected to convert a portion of the Note II into 13,796 shares of common stock, for an aggregate amount of $100,000, at a conversion price of $7.248 per share.
On April 8, 2026, the Investor elected to convert a portion of the Note II into 17,400 shares of common stock, for an aggregate amount of $65,000, at a conversion price of $3.736 per share.
On April 23, 2026, the Investor elected to convert a portion of the Note II into 33,209 shares of common stock, for an aggregate amount of $135,000, at a conversion price of $4.065 per share.
On April 27, 2026, the Investor elected to convert a portion of the Note II into 19,679 shares of common stock, for an aggregate amount $80,000, at a conversion price of $4.065 per share.
On May 6, 2026, the Investor elected to convert a portion of the Note II into 41,818 shares of common stock, for an aggregate amount $170,000, at a conversion price of $4.065 per share.
On June 11, 2026, the Investor elected to convert a portion of the Note II into 87,815 shares of common stock, for an aggregate amount $275,000, at a conversion price of $3.132 per share. |