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Capital Stock
6 Months Ended
Jun. 30, 2023
Equity [Abstract]  
Capital Stock

11. CAPITAL STOCK

As of June 30, 2023, the Company was authorized to issue 450,000,000 shares of common stock of which 11,143,908 were issued and outstanding. The Company was also authorized to issue 50,000,000 shares of preferred stock, $0.01 par value, of which none has been issued.

On January 14, 2022, the Company entered into an At Market Offering Sales Agreement (the “Sales Agreement”) with B. Riley Securities, Inc. (the “Agent”) pursuant to which the Company may sell, from time to time, shares of common stock having an aggregate offering price of up to $15,000,000, through the Agent. There were no shares of common stock sold during the six months ended June 30, 2023 under the Sales Agreement. For the six months ended June 30, 2022, under the Sales Agreement, the Company sold and issued an aggregate of 231,651 shares of common stock and raised aggregate gross proceeds of approximately $1,431,234, less sales commissions of approximately $28,644 and other offering costs resulting in net proceeds of $1,184,323.