Quarterly report pursuant to Section 13 or 15(d)

Shareholders??? Equity

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Shareholders’ Equity
9 Months Ended
Sep. 30, 2021
Equity [Abstract]  
Shareholders’ Equity

9. Shareholders’ Equity

 

Common Stock

 

During the nine months ended September 30, 2021, the Company issued 756,540 shares of common stock in connection with the exercise of stock options which generated gross proceeds of $363,140.

 

During the three months ended March 31, 2021, the Company issued an aggregate of 23,871,338 shares of common stock comprised of (i) 21,398,765 shares of common stock issued in connection with sales of its common stock under its ATM Program which generated gross proceeds of approximately $27.8 million, and (ii) 2,472,573 shares of common stock issued as the result of the exercise of certain outstanding warrants which generated gross proceeds of approximately $2.3 million.

 

The Company did not issue any shares of common stock pursuant to the ATM Program during the three months ended September 30, 2021

 

Preferred Stock

 

Series C Preferred Stock Dividend and Redemption

 

During the three months ended March 31, 2021, the Company provided a notice of redemption, to the holder of the Company’s Series C Preferred Stock to redeem all outstanding Series C Preferred Stock (which included the dividend of 26.697 shares paid on January 28, 2021 and any accrued dividends due through the redemption date of March 13, 2021). The Series C Preferred Stock redemption amount of approximately $5.6 million was paid on March 15, 2021 and all outstanding shares of Series C Preferred Stock were cancelled.