Subsequent Events |
3 Months Ended |
|---|---|
Mar. 31, 2026 | |
| Subsequent Events [Abstract] | |
| Subsequent Events | Subsequent Events
ATM offering
From April 1, 2026 to May 14, 2026, the Company has conducted ATM offerings to offer and sell shares of the Company's Common Stock. Under this offering we issued and sold 422,902 shares, for gross proceeds of $1,281,488 and net proceeds of $1,240,248 after deducting commissions and offering expenses totaling $41,240.
Series B and C Preferred Stock Conversions
From April 1, 2026 to May 14, 2026, 250 and 325 shares of Series B and C Preferred Stock were converted into 67,436 and 165,026 shares of Common Stock, respectively.
Corrections to Certificates of Designations
On April 15, 2026, the Company filed with the Secretary of State of the State of Delaware, amendments to the Certificates of Designations of Rights and Preferences, respectively, of the Series A Convertible Preferred Stock, the Series B Convertible Preferred Stock, and the Series C Convertible Preferred Stock, to correct an error in each such instrument.
Nasdaq Compliance Letter
On April 27, 2026, the Company received a formal notice from The Nasdaq Capital Market ("Nasdaq") confirming that the Company has demonstrated compliance with all continued listing requirements through the end of the Nasdaq Hearing Panel's jurisdiction, which expired on April 14, 2026.
Second Amendment to the 2023 Term Loan Agreement
On May 11, 2026, the Company entered into a Second Amendment to the 2023 Term Loan Agreement, dated September 18, 2023, with each Lender, pursuant to which the conversion price was reduced to $2.20 for the period ending on May 21, 2026.
November 2024 Debentures
On May 12, 2026, the Company issued November 2024 Debentures to an institutional investor, in aggregate principal amount of $1,556,122, which are convertible into 204,753 shares of Common Stock of the Company calculated at a conversion price of $7.60, pursuant to the Securities Purchase Agreement dated November 4, 2024.
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