11.  Subsequent Events

Annual Meeting

On October 20, 2020, the Company held the 2020 Annual Meeting of Stockholders and approved the adoption of the Company’s 2020 Incentive Stock Plan and the reservation of an aggregate of 650,000 shares of the Company’s common stock. In connection with the approval, the Company issued 614,824 restricted stock units to employees, directors and consultants.

February 2020 Private Placement Settlement

On November 9, 2020, in order to resolve a dispute between certain investors (the “Holders”) and the Company regarding certain registration rights in connection with the February 2020 Private Placement, the Company entered into a settlement and release agreement with each of the Holders (the “Settlement Agreement”), pursuant to which (i) the Company and the Holders agreed to amend the original warrants issued in February 2020 (the “Original Warrants”) to provide for the purchase of one additional share of Common Stock for each share of Common Stock available under the Original Warrants, (ii) the Company and the Holders agreed to amend the Original Warrants to reduce the exercise price to $2.55, and (iii) the Company agreed to issue an additional 236,375 shares of Common Stock and 236,369 common stock purchase warrants to purchase up to 236,369 shares of Common Stock. As consideration for the foregoing, the Holders agreed to release any and all claims they may have against the Company, including, but not limited to, claims arising in connection with any securities held by the Holders.