|9 Months Ended|
Sep. 30, 2021
|Subsequent Events [Abstract]|
NOTE 21 – SUBSEQUENT EVENTS
In October 2021, the Company entered into a settlement agreement with and obtained a general release from MDGP whereby the Company paid $150,000 to resolve the action filed by MDGP as previously disclosed in Note 20 – Commitments and Contingencies.
Promissory Note Conversions
In October and November 2021, the Noteholder of the $3.2M Note converted $475,000 of principal in the aggregate into shares of the Company’s common stock. Such conversions were effected in accordance with the terms of the note agreement, and therefore the Company was not required to record a gain or loss upon the conversions.
In October 2021, the Company granted its CEO, CFO, and COO options to purchase up to , , and shares, respectively, of the Company’s common stock, at an exercise price of $ per share, that vest over one year and expire in September 2026.
Also during this period, (i) options to purchase shares of common stock were exercised at an exercise price of $per share, (ii) options to purchase shares of common stock were forfeited, (iii) warrants to purchase 1,201,163 shares of common stock were forfeited, and (iv) shares of common stock that were classified under Common Stock Subscribed But Not Issued on the balance sheet at September 30, 2021, as discussed in Note 14 – Stockholders’ Equity, were issued.
The entire disclosure for significant events or transactions that occurred after the balance sheet date through the date the financial statements were issued or the date the financial statements were available to be issued. Examples include: the sale of a capital stock issue, purchase of a business, settlement of litigation, catastrophic loss, significant foreign exchange rate changes, loans to insiders or affiliates, and transactions not in the ordinary course of business.
Reference 1: http://www.xbrl.org/2003/role/disclosureRef