Note 9 – Subsequent Events

Restricted Stock Units

On July 5, 2023, the Compensation Committee of the Board of Directors approved the satisfactory achievement of certain corporate goals established by the Compensation Committee on October 4, 2022, which resulted in the vesting of rights with respect to an aggregate of 490,500 RSUs. The RSUs are further subject to a 3-year time based vesting schedule, vesting in three equal installments on each of October 4, 2023, October 4, 2024 and October 4, 2025, and conditioned upon the recipient’s continued service through the applicable vesting date.

Effective July 13, 2023, the Company granted aggregate RSUs of 14,000 shares of common stock to employees of the Company and/or its subsidiaries in exchange for services provided to the Company and/or its subsidiaries. These RSUs vest over three years, with one-third vesting on each of July 13, 2024, July 13, 2025 and July 13, 2026, subject to continued service, and will result in total compensation expense of $18,480.

Effective July 13, 2023, the Company granted RSUs of 43,165 shares of common stock to an advisor of the Company and/or its subsidiaries in exchange for services provided to the Company and/or its subsidiaries. These RSUs vest as set out in the agreement with 21,583 vesting on October 13, 2023 and 21,582 vesting on January 13, 2024, subject to continued service, and will result in total compensation expense of $56,978.

On July 28, 2023, 14,000 RSUs previously granted to an employee were cancelled and returned as authorized and unissued shares under the 2015 Plan upon termination of employment prior to vesting.

On August 3, 2023, 208,809 RSUs vested and resulted in the issuance of 167,809 shares of common stock and the remaining 41,000 shares of common stock were withheld for taxes and returned as authorized shares under the 2015 Stock Incentive Plan.