On the Company entered into the Stock Purchase Agreement with the Investor, pursuant to which the Company will issue to the Investor in a Private Placement up to million in shares of the Company’s Common Stock. The Private Placement will occur in multiple tranches. The initial closing occurred on the “Initial Closing”), at which the Investor purchased worth of the Securities at a per share price of which was the closing price of a share of Common Stock reported on the NYSE American market for the business day immediately before the Initial Closing Date. The remainder of the Securities will be purchased by the Investor from time to time, on such date or dates to be determined by the Company and the Investor, which date will be later than each, a “Subsequent Closing”, with each of the Initial Closing and any Subsequent Closing being a “Closing”), such amount of Securities agreed upon by the Company and the Investor, at a per share price to be determined in good faith by the Company and the Investor which price be less than the greater of book or market value of share of Common Stock within the meaning of the NYSE American standards; provided, that the total amount of Securities sold at any Subsequent Closing shall exceed (i)  million worth of the Securities less the aggregate purchase price paid by the Investor to the Company for any Securities purchased at any prior Closing, (ii) the number of shares that be issued without violating the rules and regulations of the NYSE American, and (iii) the amount of shares that would result in the beneficial ownership in the Company by the Investor and his affiliates being equal to or less than of the then issued and outstanding shares of Common Stock. The Company plans to use the proceeds from the Private Placement for general working capital purposes, including, without limitation, research and development, and other operating expenses. See Note

 

During the -month periods ended we issued shares of our common stock valued at to our employees as partial payment in lieu of cash for their bonuses.

 

During the -month period ended we issued shares of our common stock as matching contributions to our (k) Plan which were valued at