NOTE 11 — Subsequent Events

 Maximum

On April 29, 2024, the Company closed on a capital investment of 3.5 million shares of common stock and warrants with a single investor for an aggregate purchase price of $3,850. The Company intends to use the net proceeds from the investment for working capital and general corporate purposes. The $1.10 price for each unit (that includes one share of common stock and one warrant) is 126% higher than the closing price per share of $0.49 for common stock of the Company as of April 26, 2024.

 Warrant

Each warrant has an exercise price of $1.10 per share, is immediately exercisable, will expire in five years from the date of issuance, and is subject to customary adjustments for certain transactions affecting the Company’s capitalization. The warrants may not be exercised if the aggregate number of shares of common stock beneficially owned by the investor subsequent to the exercise exceeds the specified beneficial ownership limitation provided therein (which is currently 9.99% and may be adjusted upon advance notice).