Quarterly report pursuant to Section 13 or 15(d)

Subsequent Events

Subsequent Events
9 Months Ended
Sep. 30, 2021
Subsequent Events  
Note 7. Subsequent Events

Note 7 – Subsequent Events


Exchange of Series A Convertible Preferred Stock for Common Shares


On October 29, 2021, the Company entered into an exchange agreement with General International Holdings, Inc., the holder of all of the outstanding Series A Preferred Stock, pursuant to which General International Holdings, Inc. delivered to the Company all of the outstanding Series A Preferred Stock in exchange for 262,910 shares of the Company’s common stock, without any cash payments by either party. The exchange was effected without registration under the Securities Act of 1933, as amended, pursuant to the exemption from registration set forth in Section 3(a)(9) of the Securities Act.


Accelerated Vesting of Outstanding RSUs


On October 28, 2021 the first tranche of RSUs scheduled to vest, or 78,617 of total outstanding RSUs vested, with a remaining total of 157,233 RSUs to vest straight-line over the next two years. On November 4, 2021, the Compensation Committee of the Board of Directors approved the accelerated vesting of these remaining RSUs, with vesting of these remaining RSUs to take place on December 15, 2021.