Quarterly report [Sections 13 or 15(d)]

Stockholders’ Equity

v3.26.1
Stockholders’ Equity
 6 Months Ended
Jun. 30, 2026
Equity [Abstract]  
Stockholders’ Equity

 

6. Stockholders’ Equity

 

Series B Preferred Stock

 

The Company has designated 2,500,000 shares as Series B preferred stock with each share having a stated value of $4.00 per share (the “Series B Preferred Stock”). As of December 31, 2025 there were approximately 1.5 million shares of Series B Preferred Stock issued and outstanding, which were convertible into approximately 45,000 shares of common stock representing the issuable maximum that could be issued upon the conversion of the outstanding Series B Preferred Stock. During the three and six-months ended June 30, 2026, all of the issued and outstanding Series B Preferred Stock was converted into approximately 45,000 shares of common stock. As a result, there were no issued and outstanding shares of Series B Preferred Stock as of June 30, 2026. There were no conversions during the three and six months ended June 30, 2025.

 

Warrants

 

The Company has warrants to purchase approximately 800 shares of the Company’s common stock outstanding as of both June 30, 2026 and December 31, 2025. These warrants have an exercise price of $29.09 per share of common stock and expire on July 3, 2026. None of these warrants were exercised or forfeited during the six months ended June 30, 2026 and 2025.