Quarterly report pursuant to Section 13 or 15(d)

Note 9 - Subsequent Events

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Note 9 - Subsequent Events
3 Months Ended
Dec. 31, 2023
Notes to Financial Statements  
Subsequent Events [Text Block]

9. SUBSEQUENT EVENTS

 

On February 1, 2024, the Prior Advancing Purchasers amended the terms of the Prior Advances to include the following terms: (i) if the Closing, as defined, does not occur on or before March 31, 2024, the Prior Advancing Purchasers shall have the option, in lieu of being repaid, to purchase (A) pre-funded warrants to purchase up to an aggregate of 484,966 shares of the Company’s common stock and (B) common warrants to purchase up to an aggregate of 484,966 shares of Common Stock and (ii) if the Common Stock has not been approved by Nasdaq for listing on Nasdaq Capital Market by March 31, 2024, the Company shall issue to the Prior Advancing Purchasers (A) additional prefunded warrants to purchase up to an aggregate of 121,241 shares of Common Stock and (B) additional common warrants to purchase up to an aggregate of 121,241 shares of Common Stock.

 

Also on February 1, 2024, two additional parties advanced the Company an aggregate of $250,000, which are also being treated as advances in advance of the Company’s a prospective uplisting transaction subject to the advance terms.