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Subsequent Events
 3 Months Ended
Mar. 31, 2024
Subsequent Events [Abstract]  
Subsequent Events

Note 11 – Subsequent Events

 

The Company evaluates events that have occurred after the balance sheet date but before the financial statements are issued. Based upon the evaluation, the Company did not identify any recognized or non-recognized subsequent events that would have required adjustment or disclosure in the financial statements other than disclosed.

 

On April 11, 2024, the Board of Directors of the Company, upon recommendation of the Compensation Committee, approved a performance based Annual Cash Incentive Plan for the Company’s executives for fiscal year 2024. If an executive meets their performance milestones, the executive will receive a bonus, payable in cash and/or equity at the discretion of the Board, in an amount up to 163% to 195% of the applicable executive’s base salary, as detailed below:

 

  ● Charles Allen, the Company’s Chief Executive Officer, is eligible to receive up to 195% of his base salary. Mr. Allen’s current base salary is $429,933;
  ● Michal Handerhan, the Company’s Chief Operating Officer, is eligible to receive up to 179% of his base salary. Mr. Handerhan’s base salary is $300,307;
  ● Michael Prevoznik, the Company’s Chief Financial Officer, is eligible to receive up to 163% of his base salary. Mr. Prevoznik’s base salary is $245,706;
  ● Manish Paranjape, the Company’s Chief Technology Officer is eligible to receive up to 163% of his base salary. Mr. Paranjape’s base salary is $245,706.