Subsequent Events

12 Months Ended

Dec. 31, 2023

Subsequent Events [Abstract]

Subsequent Events

13. Subsequent Events

On February 1, 2024, Invizyne’s board approved a stock dividend of 1.0775673 additional shares for each existing share, rounding up any fractions to a whole share. This dividend led to adjusted exercise prices and increased shares for stock options, restricted stock units, and warrants. Additionally, shares under equity compensation plans were proportionately increased. All share quantities and per share data have been retroactively adjusted for this dividend.

On February 12, 2024, Invizyne, which is a subsidiary approximately majority owned by MDB Capital Holdings, LLC, filed an S-1 registration statement with the Securities and Exchange Commission (SEC) for an initial public offering (IPO) of its common stock. The filing of the S-1 registration statement is the initial step in the process for Invizyne to become a publicly traded entity, subject to completion of the SEC review process and market and other conditions.