VERY interesting re: financing
Company is using the ROTH agreement to issue shares for the first time in a bigger fashion.
"During the nine months ended September 30, 2025, the Company received $1,486,983 in proceeds pursuant to the 2023 Purchase Agreement, $3,006,505 in proceeds pursuant to the 2025 Purchase Agreement, $14,377,542 in proceeds pursuant to the Roth Sales Agreement"
Almost all of those ROTH shares were sold in Q3.
I wonder why they are now finally using that agreement?
"On December 9, 2022, we entered into the Roth Sales Agreement with Roth Capital, as sales agent. Pursuant to the Roth Sales Agreement, our Company may offer and sell up to $35 million in shares of our common stock, from time to time through Roth Capital. Upon delivery of a placement notice based on our Company’s instructions and subject to the terms and conditions of the Roth Sales Agreement, Roth Capital may sell the shares by methods deemed to be an “at-the-market offering” as defined in Rule 415(a)(4) promulgated under the Securities Act, including sales made directly on or through The Nasdaq Capital Market, on any other existing trading market for the Company’s common stock, in negotiated transactions at market prices prevailing at the time of sale or at prices related to such prevailing market prices, or by any other method permitted by law, including negotiated transactions, subject to the prior written consent of our Company."
So it seems ROTH can sell shares to people who want them without buying on the open market.
It could be inferred that someone wanted to buy a lot of shares last quarter to directly fund the company and without moving the share price much.
Could also be that a partner is doing this to help fund operations and take a position in the company.
Also very telling - they used almost half of that agreement in Q3....
Jim always said the shares were there for someone wanting to make a proper investment in us.
We should find out soon enough
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