Quarterly report pursuant to Section 13 or 15(d)

Commitments and Contingencies (Tables)

v3.24.3
Commitments and Contingencies (Tables)
 9 Months Ended
Sep. 30, 2024
Commitments and Contingencies Disclosure [Abstract]  
Schedule of Debt Commitments and Contingencies

 

Debt Holder   Commitment Shares or Warrants   Commitment Amounts  
             
SDT Equities Note   8,666,667 warrants to purchase shares of the Company’s common stock *   $ 520,000  
Fourth AJB Note   2,000,000 shares of the Company’s common stock   $ 120,000  
Third AJB Note   1,666,667 shares of the Company’s common stock   $ 100,000  

 

* If, as of the date of the delivery by Holder of the Sale Reconciliation Notice, the Holder has not realized net proceeds from the sale of such Warrant Shares equal to at least the $520,000 Make-Whole Amount then the Company shall, within five (5) business days, either pay in cash the applicable shortfall amount or immediately take all action necessary or required in order to cause the issuance of additional pre-funded warrants for the purchase of Common Stock to the Holder such that, assuming the Holder is able to sell such shares of Common Stock issuable pursuant to such additional pre-funded warrants at a price per share equal to the ten-day VWAP of the Common Stock as of the date of such issuance, the Holder would receive aggregate proceeds for the sale of Warrant Shares at least equal to the Make-Whole Amount.