Quarterly report pursuant to Section 13 or 15(d)

Capital Stock

v3.22.2
Capital Stock
6 Months Ended
Jun. 30, 2022
Equity [Abstract]  
Capital Stock

11. CAPITAL STOCK

As of June 30, 2022, the Company was authorized to issue 450,000,000 shares of common stock of which 10,965,680 were issued and outstanding. The Company was also authorized to issue 50,000,000 shares of preferred stock, $0.01 par value, of which none has been issued.

On January 14, 2022, the Company entered into an At Market Offering Sales Agreement (the “Sales Agreement”) with B. Riley Securities, Inc. (the “Agent”) pursuant to which the Company may sell, from time to time, shares of common stock having an aggregate offering price of up to $15,000,000, through the Agent. As of June 30, 2022, under the Sales Agreement, the Company has sold and issued an aggregate of 231,651 shares of common stock and raised aggregate gross proceeds of approximately $1,431,234, less sales commissions of $28,644 and other offering costs resulting in net proceeds of $1,184,323.