Subsequent Events |
3 Months Ended |
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Mar. 31, 2024 | |
| Subsequent Events [Abstract] | |
| Subsequent Events | Subsequent Events From April 1, 2024 through May 15, 2024, the Company drew upon its equity line of credit (ELOC) agreement to issue and sell shares. The Company issued 178,866,337 shares of common stock at a weighted average price of $0.04 per share, resulting in net proceeds of approximately $6.3 million after commissions, fees, and offering costs. Based on the transaction discussed above, the Company believes it has stockholders’ equity of at least $2.5 million as of the date of this filing, as required by Nasdaq Listing Rule 5550(b)(1).
On May 15, 2024 the Company's Series F Preferred holders converted 1,148 Series F Preferred shares into 31,362,068 share of common stock at an alternate conversion price of $0.04. On May 15, 2024 the Company's Series F-1 Preferred holders converted 424 Series F-1 Preferred shares into 11,584,699 share of common stock at an alternate conversion price of $0.04. On May 15, 2024 the Company's Series F-2 Preferred holders converted 308 Series F-2 Preferred shares into 8,415,301 share of common stock at an alternate conversion price of $0.04.
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- References No definition available.
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- Definition The entire disclosure for significant events or transactions that occurred after the balance sheet date through the date the financial statements were issued or the date the financial statements were available to be issued. Examples include: the sale of a capital stock issue, purchase of a business, settlement of litigation, catastrophic loss, significant foreign exchange rate changes, loans to insiders or affiliates, and transactions not in the ordinary course of business. Reference 1: http://www.xbrl.org/2003/role/disclosureRef
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