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v3.25.2

Common Stock | 6 Months Ended
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Jun. 30, 2025
Equity [Abstract] |
Common Stock | Note 13 – Common Stock Our common stock has a par value of $0.001 per share. We are authorized to issue 500,000,000 shares of common stock. Each share of common stock is entitled to one vote. A summary of shares of common stock issued by the Company since December 31, 2024 is as follows: Schedule of Common Stock Outstanding
Description of Shares |  | Shares Issued |
Shares outstanding as of December 31, 2024 |  |  | 85,215,136 |
Shares outstanding balance |  |  | 85,215,136 |
Exercise of stock options |  |  | 1,396,068 |
Exercise of warrants |  |  | 249,843 |
Acquisition adjustment |  |  | (121,513 | )
Issuance of common stock through public offerings |  |  | 11,172,688 |
Conversion of convertible notes into common stock |  |  | 704,451 |
Retirement of common shares |  |  | (106,330 | )
Shares outstanding as of June 30, 2025 |  |  | 98,510,343 |
Shares outstanding balance |  |  | 98,510,343 |
In February 2025, the Company retired 106,330 shares of common stock that were previously held in escrow for payment as consideration for the Teal acquisition. Subsequent to the acquisition’s modification period and prior to the settlement of escrowed shares, the Company paid cash for certain seller responsible expenditures which were then settled through the refund of these escrowed shares. This was treated as an equity transaction and goodwill was not affected. Public Offerings In April 2025, the Company entered into a securities purchase agreement with certain institutional investors pursuant to which the Company agreed to issue and sell, in a registered direct offering (the “April Registered Direct Offering”), an aggregate of 4,724,412 shares of the Company’s common stock, par value $0.001 per share, at a price of $6.35 per share. The gross proceeds to the Company from the April Registered Direct Offering were approximately $30 million, before deducting the placement agents’ fees and other offering expenses payable by the Company. In June 2025, the Company entered into a securities purchase agreement with certain institutional investors pursuant to which the Company agreed to issue and sell, in a registered direct offering (the “June Registered Direct Offering”), an aggregate of 6,448,276 shares of the Company’s common stock, par value $0.001 per share, at a price of $7.25 per share. The gross proceeds to the Company from the June Registered Direct Offering were approximately $46.75 million, before deducting the placement agents’ fees and other offering expenses payable by the Company.

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