Capital Stock |
6 Months Ended |
|---|---|
Jun. 30, 2026 | |
| Capital Stock [Abstract] | |
| Capital Stock | Note 5 - Capital Stock
Capital Stock
At June 30, 2026, the authorized capital of the Company consisted of 1,010,000,000 shares of capital stock, comprised of 1,000,000,000 shares of common stock with a par value of $0.0001 per share, and 10,000,000 shares of preferred stock with a par value of $0.0001 per share. The Company has designated 10,000 shares of its preferred stock as Series A Convertible Preferred Stock (“Series A Preferred Stock”), 1,000 shares of its preferred stock as Series B Convertible Preferred Stock (“Series B Preferred Stock”), 100,000 shares of its preferred stock as Series C Preferred Stock, and the remainder of the 9,889,000 preferred shares remain authorized but undesignated.
As of June 30, 2026, there were 1,499,838 shares of common stock outstanding (which excludes both the 69 unvested shares of restricted stock described in Note 6 below, the 1 share of common stock into which the outstanding shares of Series A Preferred Stock are convertible and includes 6 shares issued but held in treasury), 17.488 shares of Series A Preferred Stock, and no shares of Series B Preferred Stock or Series C Preferred Stock issued and outstanding, and a stock payable balance of $0. During the six months ended June 30, 2026, the Company issued a total of 82,174 shares of its common stock under the October 2025 ATM Agreement (as defined below) in return for aggregate net proceeds of $357,684, which takes into account $11,062 in compensation paid to Lucid Capital Markets, LLC (“Lucid”) in its role as Sales Agent under the October 2025 ATM Agreement.
During the six months ended June 30, 2026, the Company issued a total of 66,846 shares of its common stock (along with 511,541 Prefunded Warrants and 1,156,774 Warrants) as part of the 2026 Private Placement (described below) in return for aggregate net proceeds of $3,800,002. The Company also issued 145,015 RSUs and 29,326 RSAs in return for aggregate net proceeds of $933,907 and $101,175, respectively.
At-the-Market Equity Offering Program
On February 14, 2024, the Company entered into a new At-The-Market Issuance Sales Agreement with Ascendiant Capital Markets LLC (the “February 2024 ATM Agreement”) to sell shares of common stock for aggregate gross proceeds of up to $6.2 million, which replaced the Company’s prior At-The-Market Issuance Sales Agreement. On October 13, 2025, the Company terminated the February 2024 ATM Agreement. On October 29, 2025, the Company entered into an At-The-Market Issuance Sales Agreement with Lucid, as sales agent, pursuant to which the Company may offer and sell, from time to time through Lucid, shares of Common Stock for aggregate gross proceeds of up to $1,750,000 (the “October 2025 ATM Agreement”). |