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Common Stock
12 Months Ended
Dec. 31, 2025
Common Stock [Abstract]  
COMMON STOCK

17. 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 421,053 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 $19 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 421,053 shares of the Company’s Common Stock and warrants to purchase up to an aggregate of 421,053 shares of the Company’s Common Stock at an exercise price of $21.5 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 42,108 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 $23.75 per share and is not exercisable until June 24, 2021. As of December 31, 2024, outstanding warrants have 42,108 shares of the Company’s Common Stock. Warrants after 1-for-10 reverse stock split in 2025 and 1-for-4 reverse stock split in 2026 were 1,053 shares with an exercise price of $95 per share. All outstanding warrants have expired as of December 31, 2025.

 

   Underlying   Weighted
Average
Exercise
   Weighted
Average
Term
 
   Shares   Price   (Years) 
Options outstanding at December 31, 2024   1,053   $95.0    1.00 
Granted   
-
    
-
    - 
Forfeited   1,053    95.0    - 
Cancelled   
-
    
-
    - 
Options outstanding at December 31, 2025   
-
   $
-
    
-
 
Options exercisable at December 31, 2025   
-
   $
-
    
-
 

 

On January 5, 2024, the Company entered into a securities purchase agreement with certain purchasers, pursuant to which the Company sold to the purchasers in a private placement, an aggregate of 53,764 shares of its common stock, par value $0.001 per share at a purchase price of $48 per share, for aggregate net proceeds to the Company of $2,580,644. On January 18, 2024, the Company issued 53,764 shares of common stock pursuant to this Agreement.

Common stocks issued in connection with the convertible notes

 

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 in redemption conversion shares. Lender redemption conversion shares 3,416, amount $50,000, at a price of $14.637 per share.

 

On July 18, 2024, that Lender elected to redeem a portion of the Note in redemption conversion shares. Lender redemption conversion shares 5,428, amount $75,000, at a price of $13.817 per share.

 

On August 26, 2024, that Lender elected to redeem a portion of the Note in redemption conversion shares. Lender redemption conversion shares 10,208, amount $100,000, at a price of $9.796 per share.

 

On October 24, 2024, that Lender elected to redeem a portion of the Note in redemption conversion shares. Lender redemption conversion shares 9,766, amount $100,000, at a price of $10.24 per share.

  

On November 11, 2024, that Lender elected to redeem a portion of the Note in redemption conversion shares. Lender redemption conversion shares 9,766, amount $100,000, at a price of $10.24 per share.

 

On November 14, 2024, that Lender elected to redeem a portion of the Note in redemption conversion shares. Lender redemption conversion shares 9,846, amount $100,000, at a price of $10.156 per share.

 

On December 18, 2024, that Lender elected to redeem a portion of the Note in redemption conversion shares. Lender redemption conversion shares 10,955 amount $100,000, at a price of $9.128 per share.

 

On January 7, 2025, that Lender elected to redeem a portion of the Note in redemption conversion shares. Lender redemption conversion shares 10,721, amount $100,000, at a price of $9.327 per share.

 

On January 24, 2025, that Lender elected to redeem a portion of the Note in redemption conversion shares. Lender redemption conversion shares 4,581, amount $40,658, at a price of $8.875 per share.

 

On September 10 and 11, 2025, that Lender elected to redeem the entire balance of the Note through the issuance of 49,835 redemption conversion shares, at a price of $9.005 per share, for a total redemption amount of $448,759.