Subsequent Events |
6 Months Ended |
|---|---|
Jun. 30, 2022 | |
| Subsequent Events [Abstract] | |
| Subsequent Events | Note 11. Subsequent Events
On July 21, 2022, we received a payment of $935,000 from one of our service providers in connection with the resolution of a difference of views regarding the service provider agreement. This payment will be reflected in our condensed consolidated financial statements for the period ending September 30, 2022.
On August 6, 2022, the Compensation Committee of the Company’s Board of Directors approved the amendment of Panna Sharma’s employment agreement, as amended, to extend the term of the agreement to continue until July 31, 2024. In conjunction with this amendment, the Compensation Committee approved (i) the increase of Mr. Sharma’s annual pre-tax base salary to $510,000, and (ii) the grant to Mr. Sharma of options to purchase shares of our common stock under the terms and conditions of our 2018 Equity Incentive Plan. The options will vest and first become exercisable in equal monthly increments over a 36-month period commencing September 8, 2022, with the vesting of the options to accelerate in the event the closing price for our common stock is at least $ per share.
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