Note 6 – Subsequent Events

Pursuant to the terms of the Capital on Demand™ Sales Agreement with JonesTrading Institutional Services LLC and Brookline Capital Markets, a division of Arcadia Securities, LLC (collectively, the “Agent”), the Company may sell from time to time, through the Agent, shares of the Company’s common stock with an aggregate sales price of up to $20.0 million. Subsequent to the quarter ended on June 30, 2023, the Company sold 58,591 shares of common stock to the Agent for net proceeds of $124,279.

On August 4, 2023, the Board of Directors approved the issuance of 6,500 options to Dr. Cockroft. The options have a ten-year term at an exercise price of $2.27 and vest in 36 equal monthly installments succeeding the issuance date. This grant is contingent upon shareholder approval of an amendment to our equity compensation plan to increase the number of shares authorized under the plan to allow for the registration of the shares underlying the options granted.