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SUBSEQUENT EVENTS
 6 Months Ended
Jun. 30, 2025
SUBSEQUENT EVENTS  
SUBSEQUENT EVENTS

Note 15 - SUBSEQUENT EVENTS

 

Sales of Common Stock

 

In July 2025, the Company sold 1,522,340 shares of its common stock in an “at the market offering” and received gross proceeds of $5,405,126 based on a weighted average price of $3.55 per share. A total of $97,694 in direct issuance costs were incurred related to this sale.

 

Letter of Credit

 

In July 2025, the Company issued a letter of credit (the “LC”) for approximately $1.8 million related to the purchase of antimony ore from an international supplier. This supplier will be paid for the ore it supplies via the LC if certain conditions are met. Approximately $1.8 million of the Company’s cash was used as collateral for the LC.

 

Amended and Restated 2023 Equity Incentive Plan

 

On July 31, 2025, the Company’s shareholders approved the Amended and Restated 2023 Equity Incentive Plan (the “Amended Plan”) to increase the number of shares of common stock reserved for issuance under the Amended Plan from 8,700,000 shares to 23,700,000 shares, among other changes.