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Preferred and Common Stock
 12 Months Ended
Dec. 31, 2024
Equity [Abstract]  
Preferred and Common Stock

Note 10 – Preferred and Common Stock

 

Preferred Stock

 

Authorized Preferred Stock

 

As of December 31, 2024, and December 31, 2023, the Company was authorized to issue 25,000,000 shares of preferred stock, with a par value of $0.00001 per share.

 

No shares of preferred stock were issued or outstanding as of December 31, 2024 and December 31, 2023.

 

Common Stock

 

Authorized Common Stock

 

As of December 31, 2024, and December 31, 2023, the Company was authorized to issue 200,000,000 shares of common stock with a par value of $0.00001 per share.

 

Reverse Split

 

On May 7, 2024, the Company’s Board of Directors approved a reverse stock split at a ratio of one-for-twelve. The reverse stock split was effective June 7, 2024. The par value for the Common Stock was not affected.

 

As a result of the reverse stock split, all outstanding options, restricted stock units, and common stock purchase warrants were proportionately adjusted as to number of securities and exercise prices.

 

All Common Stock, warrants, options and per share amounts set forth herein are presented to give retroactive effect to the Reverse Split for all periods presented.

 

 

CEA Industries Inc.

Notes to Consolidated Financial Statements

December 31, 2024

(in US Dollars except share numbers)

 

An additional 107,126 shares of common stock were issued to round up partial shares following the reverse split. As a result of the stock split, immediately thereafter there were 791,580 shares of common stock issued and outstanding.

 

Also, as a result of this reverse stock split, the number of the Company’s shares of common stock issued and outstanding at December 31, 2023 was reduced from 8,076,372 to 673,090.

 

Issued Common Stock

 

As of December 31, 2024, and December 31, 2023, the Company had 793,109 and 673,090 shares of common stock issued and outstanding, respectively.

 

During the year ended December 31, 2024, the Company issued shares of its common stock as follows:

 

  ● 12,893 shares of common stock were issued in settlement of restricted stock units issued to three of its independent directors under the 2021 Equity Incentive Plan, pursuant to the Director Compensation plan adopted on January 17, 2022.
     
  ● 107,126 shares of common stock were issued to round up partial shares following the one-for-twelve reverse stock split effective June 7, 2024.

 

Consequently, effective December 31, 2024, 793,109 shares of common stock were issued and outstanding.

 

During the year ended December 31, 2023, the Company issued shares of its common stock as follows:

 

  ● 10,200 shares common stock were issued in settlement of restricted stock units issued to three of its independent directors under the 2021 Equity Incentive Plan, pursuant to the Director Compensation plan adopted on January 17, 2022.

 

Consequently, effective December 31, 2023, 673,090 shares of common stock were issued and outstanding.

 

 

CEA Industries Inc.

Notes to Consolidated Financial Statements

December 31, 2024

(in US Dollars except share numbers)