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Note 7 - Stockholders' Equity
 12 Months Ended
Dec. 31, 2023
Notes to Financial Statements  
Equity [Text Block]

7. Stockholders’ Equity

 

Common Stock

 

The Company is authorized to issue 80 million shares of common stock, $0.001 par value per share.  

 

Convertible Preferred Stock

 

The company is authorized to issue up to 65 million shares of preferred stock, $0.001 par value per share.

 

Effective as of December 12, 2023, the Company converted all of its outstanding Preferred Stock into by issuing one share of common stock for each 10 shares of preferred stock outstanding. As a result, as of December 31, 2023, the Company has no outstanding shares of preferred stock.  The following table shows the number of preferred shares authorized and outstanding:

 

      

Shares Issued and

 
  

Authorized

  

Outstanding December 31,

 
  

Shares

  

2023

  

2022

 

Series B preferred stock

  7,235   -   1,270 

Undesignated

  57,765   -   - 
   65,000   -   1,270