NOTE 22 – SUBSEQUENT EVENTS

On July 27, 2023, the Company entered into a securities purchase agreement (the “Purchase Agreement”) with certain institutional investors (collectively, the “Purchasers”), pursuant to which the Company sold 2,530,000 shares of common stock; pre-funded warrants to purchase up to 4,470,000 shares of common stock, and accompanying common warrants to purchase up to 7,000,000 shares of common stock with an exercise price of $1.00 per share. The offering price per share of common stock and accompanying common warrant was $1.00, and the offering price per share of pre-funded warrant and accompanying common warrant was $0.9999.

The offering closed on August 1, 2023. The Company incurred offering expenses of approximately $0.8 million, including placement agent fees of approximately $0.5 million. The Company received net proceeds of approximately $6.2 million, after deducting the underwriting discount and other offering expenses.