Quarterly report pursuant to Section 13 or 15(d)

Stockholders' (Deficit) Equity

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Stockholders' (Deficit) Equity
 6 Months Ended
Jun. 30, 2023
Stockholders' Equity Note [Abstract]  
Stockholders' (Deficit) Equity

NOTE 16 – STOCKHOLDERS’ (DEFICIT) EQUITY

On April 19, 2023, the Company closed its public offering of 1,850,000 shares of common stock at a public offering price of $4.00 per share, for gross proceeds of $7.4 million. After deducting underwriters' discounts and offering expenses, the net proceeds from the public offering were approximately $6.4 million. In accordance with the terms of the Maestro share purchase agreement (Note 5), $2,294,751 or 35% of the net proceeds from the offering were expected to be used to pay down the debt to the seller. Based on an agreement reached with the Seller on July 18, 2023, 50% of the amount due or $1,147,376 was paid to the Seller on July 19, 2023 and the balance will be paid no later than September 18, 2023.

During the six months ended June 30, 2023, the Company issued 25,000 shares of common stock to a vendor in consideration for services.