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SUBSEQUENT EVENTS
9 Months Ended
Sep. 30, 2022
Subsequent Events [Abstract]  
SUBSEQUENT EVENTS

NOTE 17 – SUBSEQUENT EVENTS

 

Common Stock

 

On October 12, 2022, the Company authorized the issuance of an aggregate of 75,792 shares of common stock to the members of the board of directors as compensation earned during the third quarter of 2022.

 

Stock Options

 

On October 10, 2022, the Company issued options to purchase 25,000 shares of the Company’s common stock. The options had an exercise price of $0.41 per share and vest over ratably twenty quarters with the first vesting occurring on December 31, 2022.

 

Operating Lease

 

On October 4, 2022, the Company renewed a lease agreement with Yale University for a current Company owned location. The term of the lease is from November 1, 2022, through October 31, 2027, with monthly rent payments of $3,423 plus all other property expenses. In addition, the Company agreed to pay a security deposit of $3,424.

 

New Subsidiary

 

On October 9, 2022, the Company formed Sadot LLC, a Delaware limited liability company, in consideration of pursuing a new business line. As of the date hereof, the Company has not taken any further action with respect to this entity.