Annual report pursuant to Section 13 and 15(d)

STOCKHOLDERS??? EQUITY

v3.22.4
STOCKHOLDERS’ EQUITY
 12 Months Ended
Dec. 31, 2022
Temporary Equity Disclosure [Abstract]  
STOCKHOLDERS’ EQUITY STOCKHOLDERS’ EQUITY
Stockholders’ equity:
Authorized Issued Outstanding
December 31, December 31, December 31,
2022

2021 2022

2021

2022 2021
Stocks of $0.0001, par value each:
Common stocks 500,000,000  500,000,000  133,882,414  119,017,380  133,882,414  119,017,380 
The shares of the Company’s common stock, prior to the Transaction (as discussed in Note 3, Transaction) have been retrospectively adjusted to reflect the exchange ratio of 1.337 established in the Transaction.
i.Common stocks:
The rights and privileges of the common stocks are as follows:
Voting Rights - The holders of the common stocks are entitled to one vote for each share of common stocks.
Dividend Rights - Subject to preferences that may be applicable to dividends of any outstanding preferred stocks, dividends may be paid on the common stocks as and when declared by the Board of Directors. Such dividends will be distributed among the holders of common stocks pro rata in proportion of the number of common stocks held by each.
Liquidation Rights - In the event of any voluntary or involuntary liquidation, dissolution or winding up of the Company’s affairs, the holders of the Company common stock are entitled to share ratably in all assets remaining after payment of the Company’s debts and other liabilities, subject to prior distribution rights of the Company preferred stock or any class or series of stock having a preference over the Company common stock, then outstanding, if any.
Redemption Rights - The common stocks are not redeemable.
Options outstanding and options available for future option grants have been retroactively adjusted to give effect to the exchange ratio.
ii.Treasury stocks: As of December 31, 2022 there are no treasury stock issued or outstanding
iii.Equity classified warrants:
The Company issued 133,725 warrants to American Friends of Tmura, Inc. (the “Holder”) on February 25, 2010 to purchase an aggregate of 133,725 shares of the Company’s common stock, $0.001 par value each, with an exercise price of $0.07 which is subject to an adjustment on the occurrence of certain events. The warrants are exercisable until March 1, 2029. The warrants were recorded within equity based on their fair value on the date of issuance. These warrants are not remeasured. All equity classified warrants were exercised in November 2021 on a non-cash basis.