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Subsequent Events
 3 Months Ended
Mar. 31, 2024
Subsequent Events  
Subsequent Events

Note 20. Subsequent Events

 

Options Issued Under the 2023 Equity Incentive Plan

 

On April 24, 2024, the Board approved the issuance of a total of 125,000 incentive stock options under the 2023 Equity Incentive Plan.  All options were issued to employees and vest at 20% per year for 5 years with an exercise price of $0.46 and expiration date of April 24, 2034.

 

Non-Plan Options Issued

 

On April 24, 2024, the Board approved the issuance of a total of 250,000 Non-Plan Options as an employment incentive for the position of Chief Commercial Officer.  The options will be issued as of the first day of employment and vest at 20% per year for 5 years with an exercise price to be the closing market price of the Company’s common stock on the day immediately preceding the issuance date of the options.   The options will expire 10 years from the issuance date.