Quarterly report pursuant to Section 13 or 15(d)

Common Stock

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Common Stock
 9 Months Ended
Sep. 30, 2023
Equity [Abstract]  
Common Stock

5. Common Stock

 

The Company has 150,000,000 shares of common stock, $0.001 par value per share, authorized as of September 30, 2023, and December 31, 2022. The Company had 10,174,000 and 8,143,000 shares issued and outstanding as of September 30, 2023, and December 31, 2022. The holders of common stock are entitled to one vote for each share of common stock held.

 

On April 4, 2023, the Company entered into a Securities Purchase Agreement with two accredited investors that are related entities (the “Purchasers”) pursuant to which the Purchasers purchased a total of 2,030,458 shares of common stock at a price of $1.97 per share for a total purchase price of $4,000,000 in two equal $2,000,000 investments in an unregistered offering exempt from registration pursuant to Section 4(a)(2) of the Securities Act of 1933 and Rule 506(b) promulgated thereunder (see Note 10).