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Subsequent to September 30, 2023, the Company sold a total of 71,698 shares of common stock for total net proceeds of $118,697. The sale of the shares of common stock was in connection with the Form S-3 shelf registration statement, which was declared effective by the SEC on October 13, 2022 allowing the Company to issue up to $30,000,000 of shares of common stock and prospectus supplement covering the offering, issuance and sale of up to $13,000,000 of shares of common stock that may be issued and sold under the At The Market Offering Agreement dated as of September 30, 2022.

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Subsequent to September 30, 2023, 47,000 stock options with an estimated valuation of $168,213 were cancelled upon the termination of the employee.

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On October 31, 2023, the Company granted 10,000 non-qualified stock options to an employee with an exercise price of $1.44 and an expiry date of October 31, 2033. The options shall vest in full on October 31, 2035.

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On November 2, 2023, the Company closed a sale of 1,925,000 shares of common stock and 1,575,000 pre-funded warrants for a total net proceeds of $4,261,542. In association with sale, the Company also issued 7,000,000 warrants convertible for 7,000,000 shares of common stock at an exercise price of $1.34. The warrants are exercisable six months after issuance and will expire five and a half years from the issuance date.