Subsequent Events

3 Months Ended

Mar. 31, 2024

Subsequent Events [Abstract]

Subsequent Events

Note 16: Subsequent Events

In April 2024, the Company filed a registration statement with the SEC on Form S-1 registering a total of 9,975,000 shares for resale pursuant to the Atlas Agreements as of March 28, 2024, the Effective Date, consisting of 9,636,400 shares that can be sold by the Company to Atlas and 338,600 shares that were issued to Atlas as Commitment Shares. In May 2024, Put Notices were issued to Atlas, under the Equity Purchase Agreement, requiring Atlas to purchase a total of 206,800 shares pursuant to the agreement.

In April and May of 2024, the Company sold 730,110 shares under the EDA for total gross proceeds of $372,223, which includes a 3.0% fee to Maxim of $11,167.

In April 2024, 689 shares of Series B Convertible Preferred Stock expired and none were converted prior to expiration.

Deferred 2023 bonuses of $500,000 were paid in May 2024 to Thomas Equels for $350,000 and Peter Rodino for $150,000.