SUBSEQUENT EVENTS

12 Months Ended

Dec. 31, 2023

Note 19

SUBSEQUENT EVENTS

On January 2, 2024, the Company granted nonqualified stock options to a new employee to purchase 2,500 shares of common stock of the Company at an exercise price of $3.69 per share, which amount represents the closing price of the Company’s common stock on such date, which grant was approved by the Board on December 28, 2023.

On January 12, 2024, the Company’s Board of Directors approved (a) the grant of nonqualified stock options to employees to purchase an aggregate of 350,000 shares of common stock of the Company at an exercise price of $2.68 per share, which amount represents the closing price of the Company’s common stock on such date, and (b) the grant of 350,000 restricted stock units to employees at a value of $2.60 per share.

On February 28, 2024, the Company redeemed $1,000,000 in principal and $87,356 of accrued interest on convertible notes for an aggregate redemption price of $950,000 resulting in an anticipated gain of $137,356.

On March 27, 2024, the Company’s Board of Directors approved the grant of nonqualified stock options to a new employee and its independent directors to purchase an aggregate of 115,000 shares of common stock of the Company at an exercise price of $3.20 per share, which amount represents the closing price of the Company’s common stock on such date.