SUBSEQUENT EVENTS |
3 Months Ended |
|---|---|
Mar. 31, 2025 | |
| SUBSEQUENT EVENTS | |
| SUBSEQUENT EVENTS |
NOTE 10 – SUBSEQUENT EVENTS
On May 1, 2025, the Company issued at-market, unsecured convertible notes with gross proceeds of $650. Funds totaling $236 received from investors as of March 31, 2025, prior to the issuance of the convertible notes, are reflected in the consolidated balance sheet as advances from investors. The convertible notes bear interest at 12.0% and have a maturity of 180 days. The convertible notes are subject to voluntary and automatic provisions for conversion into the Company’s common stock, as well as conversion into warrants to purchase the Company’s common stock for a five-year period at a price of $1.04. Certain members of the Company’s board of directors, an officer and consultants to the Company acquired $350 of the convertible notes. |