|12 Months Ended|
Dec. 31, 2021
NOTE 14 – STOCKHOLDERS’ EQUITY
At the Company’s 2021 annual meeting of stockholders in September 2021 (the “Annual Meeting”), stockholders approved an amendment to the Company’s certificate of incorporation increasing the number of authorized shares of common stock from to .
Also at the Annual Meeting, stockholders approved an amendment to the Company’s Amended and Restated 2018 Stock Award and Incentive Plan (the “Plan”) increasing the aggregate number shares reserved for issuance under the Plan from to .
Undesignated Preferred Stock
In February 2020, the Company filed a certificate of elimination to return all shares of formerly designated Series A convertible preferred stock to the status of authorized and unissued shares of undesignated preferred stock.
In February 2020, pursuant to the TIS Exchange Agreement discussed in Note 13 – Mezzanine Equity, the shares of common stock exchanged for shares of Series B convertible preferred stock were treated as an increase to treasury stock of $ ($ per share), and then immediately cancelled, thereby reducing treasury stock to zero, with corresponding reductions to common stock of approximately $ (the par value of the exchanged common shares) and additional paid-in capital of approximately $ .
In 2021 and 2020, the Company granted and shares of common stock, respectively, to an employee for services in lieu of salary. The fair value of these shares of approximately $in 2021 and $in 2020 was charged to compensation expense. Of the shares granted in 2020, shares, with a fair value of approximately $, were yet to be issued at December 31, 2020, and were included in Common Stock Subscribed But Not Issued on the balance sheet at that date.
In 2021, the Company granted shares of restricted common stock to three employees. The fair value of these restricted shares of approximately $ was charged to compensation expense. No shares of restricted common stock were issued in 2020.
In 2021 and 2020, the Company issued 51,000 and approximately $699,000, respectively. Based on the price of the Company’s common stock on the settlement dates, the Company incurred non-cash losses of approximately $2,500 in 2021 and $45,000 in 2020, which were reflected under Loss On Obligations Settled with Equity on the statement of operations for each period. and shares of common stock, respectively, to settle obligations of $
In 2021, the Company issued (i) 1,016,000 in exchange for consulting services, and (ii) shares valued at approximately $92,000 to pay for licensing fees. No such services or fees were paid with common stock in 2020. shares of common stock valued at approximately $
In 2021, shares of common stock were returned to the Company from the adjustment of a previously converted debenture. In 2020, shares of common stock granted to employees and shares of common stock issued from the exercise of stock options by a related party, were returned by the holders of such common stock.
In 2021, the Company issuedshares of common stock as part of the purchase price for land and buildings located in Metropolis, IL. stock was issued to purchased fixed assets in 2020.
In 2021 and 2020, the Company issued 5,000 and $1,168,000, respectively. and shares of common stock, respectively, associated with previously issued subscriptions on common stock with a value of approximately $
As previously disclosed in Note 3 – Acquisitions, the Company issued 30.0% ownership interest of MediTaurus.shares of common stock as part of the purchase price to acquire the remaining
As previously disclosed in Note 11 – Promissory Notes, the Company issued (i) 352,000 of principal on the $11.5M Note, (ii) shares common stock in 2020 upon the conversion of $460,050 of principal and interest on the $900k Note, (iii) shares of common stock in 2020 to retire $500,000 of the Existing Notes, (iv) shares of common stock in 2021 upon the conversion of approximately $1,010,000 of principal and interest on the $8.8M Note, (v) shares of common stock in 2021 upon the conversion of approximately $2,812,000 of principal on the $3.2M Note, shares of common stock in 2020 to extinguish $
As previously disclosed in Note 12 – Debentures Payable, the holder of the $21M Debentures converted (i) approximately $10.1 million of principal and interest in 2020 into shares of common stock, and (ii) approximately $1.4 million of principal and interest in 2021 into shares of common stock.
As further disclosed in Note 15 – Options, in 2021 and 2020, and shares of common stock, respectively, were issued in connection with the exercise of stock options.
As further disclosed in Note 16 – Warrants, warrants to purchase shares of common stock were exercised in 2021. warrants were exercised in 2020.
Common Stock Issuance Obligations
At December 31, 2020, the Company was obligated to issue shares of common stock, valued at approximately $ , in connection with stock grants to an employee. These shares were issued in February 2021. The Company had no such obligation at December 31, 2021.
The entire disclosure for shareholders' equity comprised of portions attributable to the parent entity and noncontrolling interest, including other comprehensive income. Includes, but is not limited to, balances of common stock, preferred stock, additional paid-in capital, other capital and retained earnings, accumulated balance for each classification of other comprehensive income and amount of comprehensive income.
Reference 1: http://www.xbrl.org/2003/role/disclosureRef