| Filed by the Registrant [X] | | | Filed by a Party other than the Registrant [ ] | |
| | | | Sincerely, | |
| | | | Name: Tracy Curley Title: Chief Executive Officer | |
| | | | By Order of the Board of Directors, | |
| | | | Name: Tracy Curley Title: Chief Executive Officer | |
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Outstanding Equity Awards at Fiscal Year-End | | | | | | ||
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Proposal | | | Votes Required | | | Voting Options | | | Impact of “Withhold” or “Abstain” Votes | | | Broker Discretionary Voting Allowed | |
Proposal No. 1: The Director Election | | | A | | | “ “ | | | None(1) | | | No(2) | |
Proposal No. 2: | | | The affirmative vote of the holders of | | | “FOR” “AGAINST” “ABSTAIN” | | | None(1) | | | No(2) | |
Proposal | | | Votes Required | | | Voting Options | | | Impact of “Withhold” or “Abstain” Votes | | | Broker Discretionary Voting Allowed | |
Proposal No. 3: | | | The affirmative vote of the holders of a majority | ||||||||||
| | “FOR” “AGAINST” “ABSTAIN” | | | None(1) | | | Yes(3) | |
| | | Prior to the Reverse Split | | | Assuming a One-for- Ten Reverse Split | | | Assuming a One-for- Fifteen Reverse Split | | | Assuming a One-for- Twenty Reverse Split | |
Aggregate Number of Shares of common stock Outstanding | | | 9,087,467 | | | 908,747 | | | 605,832 | | | 454,374 | |
| | Year Ended December 31, | | ||||||||||
| | | 2022 | | | 2021 | | ||||||
Audit fees(1) | | | | $ | 173,000 | | | | | $ | 175,500 | | |
Audit-related fees(2) | | | | | 16,500 | | | | | | 127,500 | | |
All Other Fees | | | | | — | | | | | | — | | |
Total fees | | | | $ | 189,500 | | | | | $ | 303,000 | | |
| | | 2023 | | | 2022 | | ||||||
Audit fees(1) | | | | $ | 202,525 | | | | | $ | 173,000 | | |
Audit-Related fees(2) | | | | | — | | | | | | 16,500 | | |
Total | | | | $ | 202,525 | | | | | $ | 189,500 | | |
Name | | | Age | | | Position | |
Tracy Curley | | | | | Chief Executive | | |
Benjamin Bielak | | | | | Chief Information Officer and Secretary | | |
Andrew L. Ross | | | |||||
| | Director and Chairman of the Board | | ||||
Steven Gullans | | | | | Director | | |
John L. Brooks III | | | |||||
| | Director | | ||||
Theresa | | | | | Director | | |
Elizabeth A. Graham | | | 54 | | | Director | |
| | Board Diversity Matrix (as of March 27, 2023) | | | | Board Diversity Matrix (as of March 27, 2023) | | | ||||||||||||||||||||||||||||||||
| | Part I: Gender Identity | | | | Male | | | | Female | | | | Non-Binary | | | | Did Not Disclose Gender | | | | Part I: Gender Identity | | | | Male | | | | Female | | | | Non-Binary | | | | Did Not Disclose Gender | | |
| | Directors (7 total) | | | | 6 | | | | 1 | | | | - | | | | - | | | | Directors (6 total) | | | | 3 | | | | 3 | | | | — | | | | — | | |
| | Part II: Demographic Background | | | | Male | | | | Female | | | | Non-Binary | | | | Did Not Disclose Gender | | | | Part II: Demographic Background | | | | Male | | | | Female | | | | Non-Binary | | | | Did Not Disclose Gender | | |
| | African American or Black | | | | - | | | | - | | | | - | | | | - | | | | African American or Black | | | | - | | | | - | | | | - | | | | - | | |
| | Alaskan Native or American Indian | | | | - | | | | - | | | | - | | | | - | | | | Alaskan Native or American Indian | | | | - | | | | - | | | | - | | | | - | | |
| | Asian | | | | - | | | | - | | | | - | | | | - | | | | Asian | | | | - | | | | 1 | | | | - | | | | - | | |
| | Hispanic, Latino or Latina | | | | - | | | | - | | | | - | | | | - | | | | Hispanic, Latino or Latina | | | | - | | | | - | | | | - | | | | - | | |
| | Native Hawaiian or Pacific Islander | | | | - | | | | - | | | | - | | | | - | | | | Native Hawaiian or Pacific Islander | | | | - | | | | - | | | | - | | | | - | | |
| | White | | | | 6 | | | | 1 | | | | - | | | | - | | | | White | | | | 3 | | | | 2 | | | | - | | | | - | | |
| | Two or More Races or Ethnicities | | | | - | | | | - | | | | - | | | | - | | | | Two or More Races or Ethnicities | | | | - | | | | - | | | | - | | | | - | | |
| | LGBTQ+ | | | | - | | | | LGBTQ+ | | | | - | | | ||||||||||||||||||||||||
| | Undisclosed | | | | - | | | | Undisclosed | | | | - | | |
Name and Principal Position | | | Year | | | Salary ($) | | | Bonus ($) | | | Stock awards ($) | | | Option awards ($)(1) | | | All other compensation ($) | | | Total ($) | | |||||||||||||||||||||
Tracy Curley(2) | | | | | 2022 | | | | | $ | 313,385 | | | | | $ | — | | | | | $ | — | | | | | $ | 77,000(6) | | | | | $ | — | | | | | $ | 390,385 | | |
Chief Executive Officer, Chief Financial Officer and Treasurer | | | | | 2021 | | | | | $ | 282,999 | | | | | $ | 84,000 | | | | | $ | 240,153 | | | | | $ | — | | | | | $ | — | | | | | $ | 607,152 | | |
Benjamin Bielak | | | | | 2022 | | | | | $ | 301,938 | | | | | $ | 6,000(5) | | | | | $ | — | | | | | $ | 23,100(7) | | | | | $ | — | | | | | $ | 331,038 | | |
Chief Information Officer | | | | | 2021 | | | | | $ | 250,000 | | | | | $ | 84,000 | | | | | $ | 300,193 | | | | | $ | — | | | | | $ | — | | | | | $ | 634,193 | | |
Christopher Ianelli(3) | | | | | 2022 | | | | | $ | 351,346 | | | | | $ | 12,000(5) | | | | | $ | — | | | | | $ | — | | | | | $ | 2,956 | | | | | $ | 366,302 | | |
Former Chief Executive Officer, Former President and Director | | | | | 2021 | | | | | $ | 300,000 | | | | | $ | 140,000 | | | | | $ | 330,213 | | | | | $ | — | | | | | $ | — | | | | | $ | 770,213 | | |
Jill Mullan(4) | | | | | 2022 | | | | | $ | 328,750 | | | | | $ | 20,000(5) | | | | | $ | — | | | | | $ | — | | | | | $ | — | | | | | $ | 348,750 | | |
Former Chief Operating Officer, Former Secretary and Director | | | | | 2021 | | | | | $ | 277,500 | | | | | $ | 113,750 | | | | | $ | 330,213 | | | | | $ | — | | | | | $ | — | | | | | $ | 721,463 | | |
Name and Principal Position | | | Year | | | Salary ($) | | | Bonus ($) | | | Stock awards ($) | | | Option awards ($)(1) | | | All other compensation ($) | | | Total ($) | | |||||||||||||||||||||
Tracy Curley(2) | | | | | 2023 | | | | | $ | 350,000 | | | | | $ | 87,500 | | | | | $ | — | | | | | $ | — | | | | | $ | — | | | | | $ | 437,500 | | |
Chief Executive Officer, Chief Financial Officer, Treasurer and Director | | | | | 2022 | | | | | $ | 313,385 | | | | | $ | — | | | | | $ | — | | | | | $ | 77,000(4) | | | | | $ | — | | | | | $ | 390,385 | | |
Benjamin Bielak | | | | | 2023 | | | | | $ | 326,000 | | | | | $ | 65,200 | | | | | $ | — | | | | | $ | — | | | | | $ | — | | | | | $ | 391,200 | | |
Chief Information Officer | | | | | 2022 | | | | | $ | 301,938 | | | | | $ | 6,000(3) | | | | | $ | — | | | | | $ | 23,100(5) | | | | | $ | — | | | | | $ | 331,038 | | |
| | | Option Awards | | | Stock awards | | ||||||||||||||||||||||||
Name | | | Number of securities underlying unexercised options (#) exercisable | | | Number of securities underlying unexercised options (#) unexercisable | | | Option exercise price ($) | | | Option expiration date | | | Number of shares of units of stock that have not vested (#) | | | Market value of shares of units of stock that have not vested ($)(3) | | ||||||||||||
Tracy Curley | | | | | 41,664 | | | | | | 58,336 | | | | | $ | 1.61 | | | | October 31, 2032 | | | 15,152(1) | | | | $ | 7,576 | | |
Benjamin Bielak | | | | | 12,500 | | | | | | 17,500 | | | | | $ | 1.61 | | | | October 31, 2032 | | | 18,940(2) | | | | $ | 9,470 | | |
Benjamin Bielak | | | | | 4,396 | | | | | | — | | | | | $ | 1.00 | | | | July 27, 2028 | | | — | | | | | — | | |
Benjamin Bielak | | | | | 1,409 | | | | | | — | | | | | $ | 1.00 | | | | April 26, 2029 | | | — | | | | | — | | |
| | | Option Awards | | | Stock awards | | ||||||||||||||||||||||||
Name | | | Number of securities underlying unexercised options (#) exercisable | | | Number of securities underlying unexercised options (#) unexercisable | | | Option exercise price ($) | | | Option expiration date | | | Number of shares of units of stock that have not vested (#) | | | Market value of shares of units of stock that have not vested ($)(3) | | ||||||||||||
Tracy Curley | | | | | — | | | | | | 100,000 | | | | | $ | 1.61 | | | | October 31, 2032 | | | 22,728 (1) | | | | $ | 31,137 | | |
Benjamin Bielak | | | | | — | | | | | | 30,000 | | | | | $ | 1.61 | | | | October 31, 2032 | | | 28,410 (2) | | | | $ | 38,922 | | |
Benjamin Bielak | | | | | 4,396 | | | | | | — | | | | | $ | 1.00 | | | | July 27, 2028 | | | — | | | | | — | | |
Benjamin Bielak | | | | | 1,127 | | | | | | 282 | | | | | $ | 1.00 | | | | April 26, 2029 | | | — | | | | | — | | |
| Name and Principal Position | | Fees earned or paid in cash ($) | | Stock awards($) | | Option awards ($)(9) | | Non-equity incentive plan compensation ($) | | Non-qualified deferred compensation earnings ($) | | All other compensation ($) | | Total($) | | Name and Principal Position | | Fees earned or paid in cash($) | | Stock awards($) | | Option awards ($)(10) | | Non-equity incentive plan compensation ($) | | Non-qualified deferred compensation earnings ($) | | All other compensation ($) | | Total($) | | ||||||||||||||||||||||||||||||||||||||||||||
| Andrew L. Ross, Chairman of the Board(1) | | | $ | 20,000 | | | $1,088(10) | | $— | | | | — | | | | | — | | | | | — | | | | $ | 21,088 | | | Andrew L. Ross(1) Chairman of the Board | | | $ | 27,500 | | | $176(6) | | $3,500(11) | | | | — | | | | | — | | | | | — | | | | $ | 31,176 | | | ||||||||||||||
| George “Bud” Scholl(2) Director | | | $ | 20,000 | | | $1,088(11) | | $— | | | | — | | | | | — | | | | | — | | | | $ | 21,088 | | | Steven Gullans(2) Director | | | $ | 31,250 | | | $176(7) | | $3,500(12) | | | | — | | | | | — | | | | | — | | | | $ | 34,926 | | | ||||||||||||||
| Steven Gullans(3) Director | | | $ | 20,000 | | | $1,088(12) | | $— | | | | — | | | | | — | | | | | — | | | | $ | 21,088 | | | John L. Brooks(3) Director | | | $ | 31,250 | | | $176(8) | | $3,500(13) | | | | — | | | | | — | | | | | — | | | | $ | 34,926 | | | ||||||||||||||
| John L. Brooks(4) Director | | | $ | 20,000 | | | $1,088(13) | | $— | | | | — | | | | | — | | | | | — | | | | $ | 21,088 | | | Joseph J. Basile(4) Director | | | $ | 31,647 | | | $89(9) | | $3,500(14) | | | | — | | | | | — | | | | | — | | | | $ | 35,236 | | | ||||||||||||||
| Christopher Ianelli(5) Director | | | $ | 3,641 | | | $— | | $— | | | | — | | | | | — | | | | | — | | | | $ | 3,641 | | | Theresa Mock(5) Director | | | $ | 16,576 | | | $— | | $1,735(15) | | | | — | | | | | — | | | | | — | | | | $ | 18,311 | | | ||||||||||||||
| Jill Mullan(6) Director | | | $ | 3,641 | | | $— | | $— | | | | — | | | | | — | | | | | — | | | | $ | 3,641 | | | |||||||||||||||||||||||||||||||||||||||||||||
| Joseph J. Basile(7) Director | | | $ | 1,793 | | | $— | | $663 (14) | | | | — | | | | | — | | | | | — | | | | $ | 2,456 | | | |||||||||||||||||||||||||||||||||||||||||||||
| Margaret H. Lawrence(8) Director | | | $ | 17,500 | | | $— | | $— | | | | — | | | | | — | | | | | — | | | | $ | 17,500 | | |
Plan | | Number of Shares Reserved for Issuance | | Number of Shares Issued | | Number of Shares underlying Outstanding Options | | Number of Shares Remaining Available for Future Issuance | | | Number of Shares Reserved for Issuance | | Number of Shares Issued | | Number of Shares underlying Outstanding Options | | Weighted Average Exercise Price of Outstanding Options | | Number of Shares Remaining Available for Future Issuance | | ||||||||||||||||||||||||||||||||||||
2013 Stock Incentive Plan | | | | 309,029 | | | | | 308,942 | | | | | 134,661 | | | | | 87 | | | | | | 309,029 | | | | | 40,560 | | | | | 155,403 | | | | | 1.73 | | | | | — | | | |||||||||
2021 Stock Incentive Plan | | | | 608,000 | | | | | 485,985 | | | | | 95,243 | | | | | 122,015 | | | | | | 1,869,500 | | | | | 198,210 | | | | | 140,865 | | | | | 2.66 | | | | | 1,671,290 | | |
Name and Address of Beneficial Owner(1) | | | Number of Shares of Common Stock Beneficially Owned | | | Approximate Percentage of Class(2) | | | |||||
Director and Executive Officers | | | | | | | | | | | | | |
Andrew L. Ross | | | 1,348,737(3) | | | | | 14.8% | | | | ||
Benjamin Bielak | | | 85,588 (4) | | | | | * | | | | ||
Tracy Curley | | | 82,304 (5) | | | | | * | | | | ||
Theresa Mock | | | 6,672(6) | | | | | * | | | | ||
Steven Gullans | | | 26,775(7) | | | | | * | | | | ||
John L. Brooks III | | | 25,647(8) | | | | | * | | | | ||
All Directors and Officers as a Group (6 persons) | | | 1,573,015 | | | | | 17.0% | | | | ||
5% or Greater Stockholders | | | | | | | | | | | | ||
OBF Investments | | | 841,981(9) | | | | | 9.3% | | | | ||
James G. Wolf | | | 790,730(10) | | | | | 8.7% | | | |
Title of Class | | | Name and Address of Beneficial Owner | | | Amount and Nature of Beneficial Ownership | | | Percentage of Class(3) | | |||
Directors and Executive Officers | | | | | | | | | | | | | |
Common Stock | | | Andrew L. Ross(1) | | | 1,336,730(4) | | | | | 14.8% | | |
Common Stock | | | Christopher Ianelli(1) | | | 427,950(5) | | | | | 4.7% | | |
Common Stock | | | Jill Mullan(1) | | | 248,817(6) | | | | | 2.8% | | |
Common Stock | | | Benjamin Bielak(1) | | | 44,025(7) | | | | | ** | | |
Common Stock | | | Tracy Curley(1) | | | 22,412(8) | | | | | ** | | |
Common Stock | | | George “Bud” Scholl(1) | | | 855,621(9) | | | | | 9.5% | | |
Common Stock | | | Steven Gullans(1) | | | 15,894(10) | | | | | ** | | |
Common Stock | | | John L. Brooks III(1) | | | 13,640(11) | | | | | ** | | |
Common Stock | | | Joseph J. Basile(1) | | | 2,980(12) | | | | | ** | | |
Common Stock | | | All Directors and Officers as a Group (9 persons) | | | 2,968,069 | | | | | 32.7% | | |
5% or Greater Stockholders | | | | | | | | | | | | | |
Common Stock | | | OBF Investments(1) | | | 841,981 | | | | | 9.3% | | |
Common Stock | | | James G. Wolf(2) | | | 790,730(13) | | | | | 8.8% | | |