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Subsequent Events
12 Months Ended
Dec. 31, 2022
Subsequent Events  
Subsequent Events

12.  Subsequent Events

Warrants

On January 3, 2023 warrants to purchase shares of Series X Preferred Stock and common stock were exercised via a net exercise transaction with a related party.  Upon exercise of the Series X Preferred Stock these shares were immediately converted into shares of common stock. These transactions resulted in the net issuance of 404,996 shares of common stock to the warrant holder.

Conversion of Series X Preferred Shares to Common Shares

On January 3, 2023, a holder of Series X Preferred Stock elected to convert 347.461 shares of Series X Preferred Stock into 57,910 shares of Common Stock.

Inducement Plan

On January 31, 2023, the Company’s Board of Directors approved an amendment to the Inducement Plan to increase the number of shares of common stock reserve for issuance thereunder from 300,000 shares of common stock to 700,000 shares of common stock.