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Reverse Stock Splits
3 Months Ended
Mar. 31, 2026
Reverse Stock Splits  
Reverse Stock Splits

Note 3 – Reverse Stock Splits

 

Effective April 17, 2024 and August 8, 2024, the Company completed 1-for-100 and 1-for-20 reverse splits of its common stock, respectively. The Company had previously completed three (3) reverse stock splits including a 1-for-200 reverse split on February 9, 2022, and two 1-for-20 reverse splits, one in 2019 and the other in 2020. The Company’s financial statements included in this report reflect all five (5) reverse stock splits on a retroactive basis for all periods presented and for all references to common stock, unless specifically stated otherwise.

 

On February 18, 2026, Dr. Steve N. Slilaty, the Company’s chief executive officer and holder of the majority of the voting power of the stockholders of the Company, approved by written consent an authorization of the Company’s board of directors to effect a reverse split of the Company’s issued and outstanding common stock in a ratio of up to 1-for-10, with the board of directors having the discretion as to whether or not to effect the reverse split and at what ratio. The shareholder consent became effective March 23, 2026 (20 days after the definitive information statement relating to such consent was mailed to stockholders).