Quarterly report pursuant to Section 13 or 15(d)

Subsequent Events

Subsequent Events
3 Months Ended
Mar. 31, 2022
Subsequent Events [Abstract]  
Subsequent Events

9. Subsequent Events


The Company performed an evaluation of subsequent events through the date of filing of these condensed consolidated financial statements with the SEC. Other than those matters described below, there were no material subsequent events which affected, or could affect, the amounts or disclosures in the condensed consolidated financial statements.


Sale of Common Stock


Effective April 12, 2022, the Company completed the sale of 2,900,000 shares of common stock at a price of $2.00 per share in a registered direct equity offering, generating gross proceeds of $5,800,000. The total cash costs of this offering were approximately $633,840, resulting in net proceeds of approximately $5,166,160. Pursuant to the placement agents’ agreement, the Company granted to the placement agents warrants to purchase up to 290,000 shares of common stock expiring on April 14, 2027, at an exercise price of $2.00 per share.