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Subsequent events
12 Months Ended
Dec. 31, 2024
Subsequent events  
Subsequent events
15. Subsequent events

On February 26, 2025 the Company entered into a securities purchase agreement with Edward D. Bagley, pursuant to which the Company agreed to issue and sell, in a private placement at-the-market offering of 2,000,000 shares of the Company’s common stock, par value $0.001 per share, at a purchase price of $0.50 per share of Common Stock. The Company received $1,000 in cash in connection with the sale. Mr. Bagley is an affiliate of the Company and the Company’s single largest stockholder.

On March 27, 2025, the Company entered into an agreement with RBW Capital Partners LLC and Dawson James Securities, Inc. to act as exclusive placement agent for a proposed offering of the Company’s common stock. The agreement has a six-month term. Included are also the following fees: a success fee payable equal to five percent (5%) of the transaction value of any completed transaction with any parties not previously known to the Company prior to the engagement of the advisor, a cash success fee of eight percent (8%) of the amount of capital raised, in connection with any sale of debt or equity securities, and reimbursement of advisor’s out-of-pockets fees and expenses up to $150,000. No adjustments to the accompanying financial statements are required as a result of this event.