Stockholders’ Equity |
9 Months Ended | ||
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Dec. 31, 2021 | |||
| Equity [Abstract] | |||
| Stockholders’ Equity |
Authorized Capital
The Company is authorized to issue up to 24,000,000 shares of common stock with a par value of $0.0001 per share and 714,286 shares of convertible preferred stock with a par value of $0.0001 per share.
At The Market Issuance of Common Stock
On July 30, 2021, the Company entered into an At The Market Offering Agreement with HC Wainwright & Co., LLC under which the Company may issue and sell shares of its common stock from time to time through HC Wainwright acting as sales agent. The Company will pay HC Wainwright a commission of 3% of the gross proceeds from the sale of any shares of common stock under the Agreement.
During the quarter ended December 31, 2021, the Company sold 94,600 shares of common stock for gross proceeds of $700,000 and net proceeds of $662,000 after deducting commissions and other offering expenses. During the nine months ended December 31, 2021, the Company sold 950,100 shares of common stock for gross proceeds of $7,901,000 and net proceeds of $7,554,000 after deducting commissions and other offering expenses. |
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- References No definition available.
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- Definition 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
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