NOTE 19 – SUBSEQUENT EVENTS

On February 15, 2022, the Company granted options to purchase an aggregate of 15,480,690 shares of the Company’s common stock to employees with an exercise price of $0.21, with a term of ten years, vesting 1/3 on the first anniversary and 1/36th each month thereafter for 24 months. Additionally, the Company granted options to purchase 24,750,000 shares of the Company’s common stock to certain employees with 10% of such options vesting on the first anniversary of issuance, 10% on the second anniversary of issuance, 40% on the third anniversary of issuance, and 40% on the fourth anniversary of issuance, and expiring 10 years from the date of issuance. One-third of the stock options granted have an exercise price per share of $0.414; one-third of the stock options granted have an exercise price per share of $0.621; and one-third of the stock options granted have an exercise price per share of $0.828.  

On February 10, 2022, the Company filed an amendment to its articles of incorporation, as amended, to increase the number of shares of common stock authorized from 800,000,000 to 1,600,000,000.

Subsequent to December 31, 2021, the Company sold 15.6 million shares of common stock under the Sales Agreement with AGP for net proceeds of approximately $4.3 million. 

Subsequent to December 31, 2021, the Company sold 22.0 million shares of common stock under the Purchase Agreement with Lincoln Park for net proceeds of approximately $4.5 million.