Quarterly report [Sections 13 or 15(d)]

Related party transactions

v3.26.1
Related party transactions
3 Months Ended
Mar. 31, 2026
Related Party Transactions [Abstract]  
Related party transactions

Note 14 – Related party transactions

 

Between January 1, 2026 and March 31, 2026, our Chief Executive Officer, Chet Billingsley, purchased 44,100 shares of the Company’s common stock on the open market at an average price of $0.085 per share. Such share purchases are reported on Form 4s filed with the Securities and Exchange Commission within two business days of the transaction date in accordance with Section 16(a) of the Securities and Exchange Act of 1934.

 

On January 12, 2026, our Chief Executive Officer, Chet Billingsley, purchased 11 Series Q Convertible Preferred Shares of the Company from a third party in a private transaction for a total purchase price of $204,488, or $18,590 per share. Subsequent to the quarter-end, effective April 3, 2026, such 11 Series Q Convertible Preferred Shares were elected to be converted into 5,906,107 shares of the Company’s Common Stock at the Series Q Conversion Value of $347,279 at a Common Stock conversion price of $0.0588 per Common Share. The purchase and conversion were reported on Form 4s filed with the Securities and Exchange Commission within two business days of the transaction date in accordance with Section 16(a) of the Securities and Exchange Act of 1934. See Note 17.

 

Subsequent to quarter-end, between April 1, 2026, and April 14, 2026, our Chief Executive Officer, Chet Billingsley, purchased an additional 6,900 shares of the Company’s common stock on the open market at an average price of $0.060 per share. Such share purchases are reported on Form 4s filed with the Securities and Exchange Commission within two business days of the transaction date in accordance with Section 16(a) of the Securities and Exchange Act of 1934. See Note 17.