Quarterly report pursuant to Section 13 or 15(d)

Capital Stock

Capital Stock
9 Months Ended
Sep. 30, 2022
Equity [Abstract]  
Capital Stock


As of September 30, 2022, the Company was authorized to issue 450,000,000 shares of common stock of which 11,100,842 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 September 30, 2022, under the Sales Agreement, the Company has sold and issued an aggregate of 369,142 shares of common stock and raised aggregate gross proceeds of approximately $2,245,635, less sales commissions of approximately $44,951 and other offering costs resulting in net proceeds of $1,982,028.