Subsequent Events

3 Months Ended

Mar. 31, 2023

Subsequent Events [Abstract]

Subsequent Events

SUBSEQUENT EVENTS

The Company evaluated subsequent events from March 31, 2023, the date of these condensed consolidated financial statements, through May 11, 2023, which represents the date the condensed consolidated financial statements were issued, for events requiring adjustment to or disclosure in these condensed consolidated financial statements. Except as disclosed below, there are no events that require adjustment to or disclosure in these condensed consolidated financial statements.

On April 21, 2023, the Company received a letter from the Listing Qualifications Department of Nasdaq notifying the Company that, for the prior 30 consecutive business days, the closing bid price for the Company’s common stock, was below $1.00 per share, which is the minimum closing bid price required for continued listing on The Nasdaq Capital Market pursuant to Nasdaq Listing Rule 5450(a)(1). This Notice was a notice of deficiency, not delisting, and had no

immediate effect on the listing of the Company’s Common Stock, and the Company’s Common Stock continues to trade on The Nasdaq Capital Market under the symbol “KPLT”.