Subsequent Events

6 Months Ended

Jun. 30, 2022

Subsequent Events [Abstract]

Subsequent Events

16)  Subsequent Events

For the quarter ended June 30, 2022, the Company has evaluated subsequent events through August 5, 2022 the date, which the financial statements were available to be issued. No reportable subsequent events have occurred through August 5, 2022, which would have a significant effect on the financial statements as of June 30, 2022 excluding the items mentioned below.

The company has made a private placement of 3,930,000 shares of its common stock, a Pre-Funded Warrant to purchase 2,167,561 shares of the Company’s common Stock and Preferred Investment Options to purchase up to an aggregate of 6,097,561 shares of common stock pursuant to the terms and conditions of the Securities Purchase Agreement, dated as of July 10, 2022. The Purchaser paid $1.066 for each Share and $1.065 for each Warrant Share.

The Purchaser also received the Preferred Investment Options. The aggregate gross proceeds to the Company from the Private Placement were approximately $6,500,000, before deducting placement agent fees and other offering expenses. The net proceeds from the private placement amounts to $ 5,888,183.

The Company has also bought back its common shares in the following dates as part of $2 million share repurchase program plan announced on June 21, 2022.

1.	20,000 Common shares purchased on July 12, 2022 at a purchase price of $1.0104
2.	4,600 Common shares purchased on July 8, 2022 at a purchase price of $1.0710
3.	15,200 Common shares purchased on July 27, 2022 at a purchase price of $0.65
4.	4,900 Common shares purchased on July 28, 2022 at a purchase price of $0.6352
5.	6,874 Common shares purchased on July 29, 2022 at a purchase price of $0.6659
6.	2,600 Common shares purchased on July 30, 2022 at a purchase price of $0.6997