0001734750
2022-01-01
2022-06-30
0001734750
2022-08-12
0001734750
2022-06-30
0001734750
2021-12-31
0001734750
2022-04-01
2022-06-30
0001734750
2021-04-01
2021-06-30
0001734750
2021-01-01
2021-06-30
0001734750
us-gaap:SeriesAPreferredStockMember
us-gaap:PreferredStockMember
2022-03-31
0001734750
us-gaap:SeriesBPreferredStockMember
us-gaap:PreferredStockMember
2022-03-31
0001734750
us-gaap:CommonStockMember
2022-03-31
0001734750
us-gaap:AdditionalPaidInCapitalMember
2022-03-31
0001734750
us-gaap:AccumulatedOtherComprehensiveIncomeMember
2022-03-31
0001734750
us-gaap:RetainedEarningsMember
2022-03-31
0001734750
2022-03-31
0001734750
us-gaap:SeriesAPreferredStockMember
us-gaap:PreferredStockMember
2022-04-01
2022-06-30
0001734750
us-gaap:SeriesBPreferredStockMember
us-gaap:PreferredStockMember
2022-04-01
2022-06-30
0001734750
us-gaap:CommonStockMember
2022-04-01
2022-06-30
0001734750
us-gaap:AdditionalPaidInCapitalMember
2022-04-01
2022-06-30
0001734750
us-gaap:AccumulatedOtherComprehensiveIncomeMember
2022-04-01
2022-06-30
0001734750
us-gaap:RetainedEarningsMember
2022-04-01
2022-06-30
0001734750
us-gaap:SeriesAPreferredStockMember
us-gaap:PreferredStockMember
2022-06-30
0001734750
us-gaap:SeriesBPreferredStockMember
us-gaap:PreferredStockMember
2022-06-30
0001734750
us-gaap:CommonStockMember
2022-06-30
0001734750
us-gaap:AdditionalPaidInCapitalMember
2022-06-30
0001734750
us-gaap:AccumulatedOtherComprehensiveIncomeMember
2022-06-30
0001734750
us-gaap:RetainedEarningsMember
2022-06-30
0001734750
us-gaap:SeriesAPreferredStockMember
us-gaap:PreferredStockMember
2021-12-31
0001734750
us-gaap:SeriesBPreferredStockMember
us-gaap:PreferredStockMember
2021-12-31
0001734750
us-gaap:CommonStockMember
2021-12-31
0001734750
us-gaap:AdditionalPaidInCapitalMember
2021-12-31
0001734750
us-gaap:AccumulatedOtherComprehensiveIncomeMember
2021-12-31
0001734750
us-gaap:RetainedEarningsMember
2021-12-31
0001734750
us-gaap:SeriesAPreferredStockMember
us-gaap:PreferredStockMember
2022-01-01
2022-06-30
0001734750
us-gaap:SeriesBPreferredStockMember
us-gaap:PreferredStockMember
2022-01-01
2022-06-30
0001734750
us-gaap:CommonStockMember
2022-01-01
2022-06-30
0001734750
us-gaap:AdditionalPaidInCapitalMember
2022-01-01
2022-06-30
0001734750
us-gaap:AccumulatedOtherComprehensiveIncomeMember
2022-01-01
2022-06-30
0001734750
us-gaap:RetainedEarningsMember
2022-01-01
2022-06-30
0001734750
us-gaap:SeriesAPreferredStockMember
us-gaap:PreferredStockMember
2021-03-31
0001734750
us-gaap:SeriesBPreferredStockMember
us-gaap:PreferredStockMember
2021-03-31
0001734750
us-gaap:CommonStockMember
2021-03-31
0001734750
us-gaap:AdditionalPaidInCapitalMember
2021-03-31
0001734750
us-gaap:AccumulatedOtherComprehensiveIncomeMember
2021-03-31
0001734750
us-gaap:RetainedEarningsMember
2021-03-31
0001734750
2021-03-31
0001734750
us-gaap:SeriesAPreferredStockMember
us-gaap:PreferredStockMember
2021-04-01
2021-06-30
0001734750
us-gaap:SeriesBPreferredStockMember
us-gaap:PreferredStockMember
2021-04-01
2021-06-30
0001734750
us-gaap:CommonStockMember
2021-04-01
2021-06-30
0001734750
us-gaap:AdditionalPaidInCapitalMember
2021-04-01
2021-06-30
0001734750
us-gaap:AccumulatedOtherComprehensiveIncomeMember
2021-04-01
2021-06-30
0001734750
us-gaap:RetainedEarningsMember
2021-04-01
2021-06-30
0001734750
us-gaap:SeriesAPreferredStockMember
us-gaap:PreferredStockMember
2021-06-30
0001734750
us-gaap:SeriesBPreferredStockMember
us-gaap:PreferredStockMember
2021-06-30
0001734750
us-gaap:CommonStockMember
2021-06-30
0001734750
us-gaap:AdditionalPaidInCapitalMember
2021-06-30
0001734750
us-gaap:AccumulatedOtherComprehensiveIncomeMember
2021-06-30
0001734750
us-gaap:RetainedEarningsMember
2021-06-30
0001734750
2021-06-30
0001734750
us-gaap:SeriesAPreferredStockMember
us-gaap:PreferredStockMember
2020-12-31
0001734750
us-gaap:SeriesBPreferredStockMember
us-gaap:PreferredStockMember
2020-12-31
0001734750
us-gaap:CommonStockMember
2020-12-31
0001734750
us-gaap:AdditionalPaidInCapitalMember
2020-12-31
0001734750
us-gaap:AccumulatedOtherComprehensiveIncomeMember
2020-12-31
0001734750
us-gaap:RetainedEarningsMember
2020-12-31
0001734750
2020-12-31
0001734750
us-gaap:SeriesAPreferredStockMember
us-gaap:PreferredStockMember
2021-01-01
2021-06-30
0001734750
us-gaap:SeriesBPreferredStockMember
us-gaap:PreferredStockMember
2021-01-01
2021-06-30
0001734750
us-gaap:CommonStockMember
2021-01-01
2021-06-30
0001734750
us-gaap:AdditionalPaidInCapitalMember
2021-01-01
2021-06-30
0001734750
us-gaap:AccumulatedOtherComprehensiveIncomeMember
2021-01-01
2021-06-30
0001734750
us-gaap:RetainedEarningsMember
2021-01-01
2021-06-30
0001734750
us-gaap:CommonStockMember
us-gaap:IPOMember
2022-06-30
0001734750
2021-03-01
2021-03-25
0001734750
2021-03-25
0001734750
move:ROUMember
2022-01-01
2022-01-01
0001734750
us-gaap:MoneyMarketFundsMember
2022-06-30
0001734750
us-gaap:MoneyMarketFundsMember
us-gaap:FairValueInputsLevel1Member
2022-06-30
0001734750
us-gaap:MoneyMarketFundsMember
us-gaap:FairValueInputsLevel2Member
2022-06-30
0001734750
us-gaap:MoneyMarketFundsMember
us-gaap:FairValueInputsLevel3Member
2022-06-30
0001734750
us-gaap:FairValueInputsLevel1Member
2022-06-30
0001734750
us-gaap:FairValueInputsLevel2Member
2022-06-30
0001734750
us-gaap:FairValueInputsLevel3Member
2022-06-30
0001734750
us-gaap:CertificatesOfDepositMember
2022-06-30
0001734750
us-gaap:CertificatesOfDepositMember
us-gaap:FairValueInputsLevel1Member
2022-06-30
0001734750
us-gaap:CertificatesOfDepositMember
us-gaap:FairValueInputsLevel2Member
2022-06-30
0001734750
us-gaap:CertificatesOfDepositMember
us-gaap:FairValueInputsLevel3Member
2022-06-30
0001734750
us-gaap:CommercialPaperMember
2022-06-30
0001734750
us-gaap:CommercialPaperMember
us-gaap:FairValueInputsLevel1Member
2022-06-30
0001734750
us-gaap:CommercialPaperMember
us-gaap:FairValueInputsLevel2Member
2022-06-30
0001734750
us-gaap:CommercialPaperMember
us-gaap:FairValueInputsLevel3Member
2022-06-30
0001734750
move:CorporateNotesMember
2022-06-30
0001734750
move:CorporateNotesMember
us-gaap:FairValueInputsLevel1Member
2022-06-30
0001734750
move:CorporateNotesMember
us-gaap:FairValueInputsLevel2Member
2022-06-30
0001734750
move:CorporateNotesMember
us-gaap:FairValueInputsLevel3Member
2022-06-30
0001734750
us-gaap:MunicipalBondsMember
2022-06-30
0001734750
us-gaap:MunicipalBondsMember
us-gaap:FairValueInputsLevel1Member
2022-06-30
0001734750
us-gaap:MunicipalBondsMember
us-gaap:FairValueInputsLevel2Member
2022-06-30
0001734750
us-gaap:MunicipalBondsMember
us-gaap:FairValueInputsLevel3Member
2022-06-30
0001734750
us-gaap:MoneyMarketFundsMember
2021-12-31
0001734750
us-gaap:MoneyMarketFundsMember
us-gaap:FairValueInputsLevel1Member
2021-12-31
0001734750
us-gaap:MoneyMarketFundsMember
us-gaap:FairValueInputsLevel2Member
2021-12-31
0001734750
us-gaap:MoneyMarketFundsMember
us-gaap:FairValueInputsLevel3Member
2021-12-31
0001734750
us-gaap:FairValueInputsLevel1Member
2021-12-31
0001734750
us-gaap:FairValueInputsLevel2Member
2021-12-31
0001734750
us-gaap:FairValueInputsLevel3Member
2021-12-31
0001734750
us-gaap:CertificatesOfDepositMember
2021-12-31
0001734750
us-gaap:CertificatesOfDepositMember
us-gaap:FairValueInputsLevel1Member
2021-12-31
0001734750
us-gaap:CertificatesOfDepositMember
us-gaap:FairValueInputsLevel2Member
2021-12-31
0001734750
us-gaap:CertificatesOfDepositMember
us-gaap:FairValueInputsLevel3Member
2021-12-31
0001734750
us-gaap:CommercialPaperMember
2021-12-31
0001734750
us-gaap:CommercialPaperMember
us-gaap:FairValueInputsLevel1Member
2021-12-31
0001734750
us-gaap:CommercialPaperMember
us-gaap:FairValueInputsLevel2Member
2021-12-31
0001734750
us-gaap:CommercialPaperMember
us-gaap:FairValueInputsLevel3Member
2021-12-31
0001734750
move:CorporateNotesMember
2021-12-31
0001734750
move:CorporateNotesMember
us-gaap:FairValueInputsLevel1Member
2021-12-31
0001734750
move:CorporateNotesMember
us-gaap:FairValueInputsLevel2Member
2021-12-31
0001734750
move:CorporateNotesMember
us-gaap:FairValueInputsLevel3Member
2021-12-31
0001734750
us-gaap:MunicipalBondsMember
2021-12-31
0001734750
us-gaap:MunicipalBondsMember
us-gaap:FairValueInputsLevel1Member
2021-12-31
0001734750
us-gaap:MunicipalBondsMember
us-gaap:FairValueInputsLevel2Member
2021-12-31
0001734750
us-gaap:MunicipalBondsMember
us-gaap:FairValueInputsLevel3Member
2021-12-31
0001734750
us-gaap:CashMember
2022-06-30
0001734750
us-gaap:CashMember
2021-12-31
0001734750
us-gaap:MoneyMarketFundsMember
2022-06-30
0001734750
us-gaap:MoneyMarketFundsMember
2021-12-31
0001734750
us-gaap:CertificatesOfDepositMember
2022-06-30
0001734750
us-gaap:CertificatesOfDepositMember
2021-12-31
0001734750
us-gaap:CommercialPaperMember
2022-06-30
0001734750
us-gaap:CommercialPaperMember
2021-12-31
0001734750
move:CorporateNotesMember
2022-06-30
0001734750
move:CorporateNotesMember
2021-12-31
0001734750
us-gaap:MunicipalBondsMember
2022-06-30
0001734750
us-gaap:MunicipalBondsMember
2021-12-31
0001734750
us-gaap:CertificatesOfDepositMember
move:AmortizedCostMember
2022-06-30
0001734750
us-gaap:CertificatesOfDepositMember
move:GrossUnrealizedGainsMember
2022-06-30
0001734750
us-gaap:CertificatesOfDepositMember
move:GrossUnrealizedLossesMember
2022-06-30
0001734750
us-gaap:CertificatesOfDepositMember
move:AggregateEstimatedFairValueMember
2022-06-30
0001734750
us-gaap:CommercialPaperMember
move:AmortizedCostMember
2022-06-30
0001734750
us-gaap:CommercialPaperMember
move:GrossUnrealizedGainsMember
2022-06-30
0001734750
us-gaap:CommercialPaperMember
move:AggregateEstimatedFairValueMember
2022-06-30
0001734750
move:CorporateNotesMember
move:AmortizedCostMember
2022-06-30
0001734750
move:CorporateNotesMember
move:GrossUnrealizedGainsMember
2022-06-30
0001734750
move:CorporateNotesMember
move:GrossUnrealizedLossesMember
2022-06-30
0001734750
move:CorporateNotesMember
move:AggregateEstimatedFairValueMember
2022-06-30
0001734750
us-gaap:MunicipalBondsMember
move:AmortizedCostMember
2022-06-30
0001734750
us-gaap:MunicipalBondsMember
move:GrossUnrealizedGainsMember
2022-06-30
0001734750
us-gaap:MunicipalBondsMember
move:GrossUnrealizedLossesMember
2022-06-30
0001734750
us-gaap:MunicipalBondsMember
move:AggregateEstimatedFairValueMember
2022-06-30
0001734750
move:AmortizedCostMember
2022-06-30
0001734750
move:GrossUnrealizedGainsMember
2022-06-30
0001734750
move:GrossUnrealizedLossesMember
2022-06-30
0001734750
move:AggregateEstimatedFairValueMember
2022-06-30
0001734750
us-gaap:CertificatesOfDepositMember
move:AmortizedCostMember
2021-12-31
0001734750
us-gaap:CertificatesOfDepositMember
move:GrossUnrealizedGainsMember
2021-12-31
0001734750
us-gaap:CertificatesOfDepositMember
move:GrossUnrealizedLossesMember
2021-12-31
0001734750
us-gaap:CertificatesOfDepositMember
move:AggregateEstimatedFairValueMember
2021-12-31
0001734750
us-gaap:CommercialPaperMember
move:AmortizedCostMember
2021-12-31
0001734750
us-gaap:CommercialPaperMember
move:GrossUnrealizedGainsMember
2021-12-31
0001734750
us-gaap:CommercialPaperMember
move:GrossUnrealizedLossesMember
2021-12-31
0001734750
us-gaap:CommercialPaperMember
move:AggregateEstimatedFairValueMember
2021-12-31
0001734750
move:CorporateNotesMember
move:AmortizedCostMember
2021-12-31
0001734750
move:CorporateNotesMember
move:GrossUnrealizedGainsMember
2021-12-31
0001734750
move:CorporateNotesMember
move:GrossUnrealizedLossesMember
2021-12-31
0001734750
move:CorporateNotesMember
move:AggregateEstimatedFairValueMember
2021-12-31
0001734750
us-gaap:MunicipalBondsMember
move:AmortizedCostMember
2021-12-31
0001734750
us-gaap:MunicipalBondsMember
move:GrossUnrealizedGainsMember
2021-12-31
0001734750
us-gaap:MunicipalBondsMember
move:GrossUnrealizedLossesMember
2021-12-31
0001734750
us-gaap:MunicipalBondsMember
move:AggregateEstimatedFairValueMember
2021-12-31
0001734750
move:AmortizedCostMember
2021-12-31
0001734750
move:GrossUnrealizedGainsMember
2021-12-31
0001734750
move:GrossUnrealizedLossesMember
2021-12-31
0001734750
move:AggregateEstimatedFairValueMember
2021-12-31
0001734750
us-gaap:OfficeEquipmentMember
2022-06-30
0001734750
us-gaap:OfficeEquipmentMember
2021-12-31
0001734750
us-gaap:SoftwareDevelopmentMember
2022-06-30
0001734750
us-gaap:SoftwareDevelopmentMember
2021-12-31
0001734750
us-gaap:EquipmentMember
2022-06-30
0001734750
us-gaap:EquipmentMember
2021-12-31
0001734750
us-gaap:ConvertibleDebtMember
2020-02-01
2020-02-29
0001734750
us-gaap:ConvertibleDebtMember
2020-12-01
2020-12-31
0001734750
2021-01-01
2021-03-31
0001734750
us-gaap:IPOMember
2022-06-30
0001734750
2021-03-01
2021-03-31
0001734750
us-gaap:IPOMember
2022-01-01
2022-06-30
0001734750
move:AutomaticConversionNextQualifiedEquityFinancingMember
2022-01-01
2022-06-30
0001734750
move:AutomaticConversionChangeOfControlMember
2022-01-01
2022-06-30
0001734750
move:AutomaticConversionMaturityDateMember
2022-01-01
2022-06-30
0001734750
move:AutomaticConversionIPOMember
2022-01-01
2022-06-30
0001734750
move:OptionalConversionMember
2022-01-01
2022-06-30
0001734750
2019-03-01
2019-03-28
0001734750
us-gaap:SeriesBPreferredStockMember
2022-01-01
2022-06-30
0001734750
us-gaap:SeriesBPreferredStockMember
2022-06-30
0001734750
us-gaap:SeriesAPreferredStockMember
2022-06-30
0001734750
2021-03-31
2021-03-31
0001734750
2021-03-01
2021-03-24
0001734750
move:SeriesAAndSeriesBRedeemableConvertiblePreferredStockMember
2021-03-25
0001734750
us-gaap:IPOMember
2021-03-01
2021-03-25
0001734750
move:FounderMember
2018-01-01
2018-12-31
0001734750
2018-12-31
0001734750
move:FounderMember
2021-12-31
0001734750
move:FounderMember
2022-06-30
0001734750
us-gaap:RestrictedStockMember
2018-01-01
2018-12-31
0001734750
us-gaap:RestrictedStockMember
2018-12-31
0001734750
2022-01-01
2022-03-31
0001734750
move:PreferredAPlacementWarrantsMember
2022-01-01
2022-06-30
0001734750
2019-08-31
0001734750
move:PreferredAPlacementWarrantsMember
2022-06-30
0001734750
move:PreferredALeadInvestorWarrantsMember
2021-02-01
2021-02-28
0001734750
move:PreferredBPlacementWarrantsMember
2019-04-01
2019-04-16
0001734750
move:PreferredBPlacementWarrantsMember
2019-04-16
0001734750
us-gaap:SeriesBPreferredStockMember
2019-04-16
0001734750
us-gaap:SeriesBPreferredStockMember
move:PreferredBPlacementWarrantsMember
2019-04-01
2019-04-16
0001734750
move:PreferredBPlacementWarrantsMember
2022-01-01
2022-06-30
0001734750
move:ConvertibleNotePlacementWarrantsMember
2022-06-30
0001734750
move:ConvertibleNotePlacementWarrantsMember
2022-01-01
2022-06-30
0001734750
move:ConvertibleNotePlacementWarrantsMember
2021-01-01
2021-03-31
0001734750
move:UnderwriterWarrantsMember
2022-01-01
2022-06-30
0001734750
move:UnderwriterWarrantsMember
2022-06-30
0001734750
move:PreferredAPlacementWarrantsMember
2022-01-01
2022-06-30
0001734750
move:PreferredAPlacementWarrantsMember
2022-06-30
0001734750
move:PreferredAPlacementWarrantsMember
2021-12-31
0001734750
move:PreferredALeadInvestorWarrantsMember
2022-01-01
2022-06-30
0001734750
move:PreferredALeadInvestorWarrantsMember
2022-06-30
0001734750
move:PreferredALeadInvestorWarrantsMember
2021-12-31
0001734750
move:PreferredBPlacementWarrantsMember
2022-01-01
2022-06-30
0001734750
move:PreferredBPlacementWarrantsMember
2022-06-30
0001734750
move:PreferredBPlacementWarrantsMember
2021-12-31
0001734750
move:ConvertibleNotesPlacementWarrantsMember
2022-01-01
2022-06-30
0001734750
move:ConvertibleNotesPlacementWarrantsMember
2022-06-30
0001734750
move:ConvertibleNotesPlacementWarrantsMember
2021-12-31
0001734750
move:UnderwriterWarrantsMember
2022-01-01
2022-06-30
0001734750
move:UnderwriterWarrantsMember
2022-06-30
0001734750
move:UnderwriterWarrantsMember
2021-12-31
0001734750
move:PreferredAPlacementWarrantsMember
2021-01-01
2021-06-30
0001734750
move:PreferredAPlacementWarrantsMember
2021-06-30
0001734750
move:PreferredAPlacementWarrantsMember
2020-12-31
0001734750
move:PreferredALeadInvestorWarrantsMember
2021-01-01
2021-06-30
0001734750
move:PreferredALeadInvestorWarrantsMember
2021-06-30
0001734750
move:PreferredBPlacementWarrantsMember
2021-01-01
2021-06-30
0001734750
move:PreferredBPlacementWarrantsMember
2021-06-30
0001734750
move:PreferredBPlacementWarrantsMember
2020-12-31
0001734750
move:ConvertibleNotesPlacementWarrantsMember
2021-01-01
2021-06-30
0001734750
move:ConvertibleNotesPlacementWarrantsMember
2021-06-30
0001734750
move:ConvertibleNotesPlacementWarrantsMember
2020-12-31
0001734750
move:UnderwriterWarrantsMember
2021-01-01
2021-06-30
0001734750
move:UnderwriterWarrantsMember
2021-06-30
0001734750
move:BlackScholesFairValueAssumptionsMember
2022-01-01
2022-06-30
0001734750
move:EquityIncentivePlanMember
2019-11-10
2019-11-18
0001734750
pf0:MinimumMember
move:EquityIncentivePlanMember
2019-11-10
2019-11-18
0001734750
pf0:MinimumMember
us-gaap:IPOMember
2021-03-20
2021-03-25
0001734750
pf0:MaximumMember
us-gaap:IPOMember
2021-03-20
2021-03-25
0001734750
pf0:MinimumMember
2021-03-20
2022-04-15
0001734750
pf0:MaximumMember
2021-03-20
2022-04-15
0001734750
move:EquityIncentivePlanMember
2022-06-30
0001734750
2021-03-20
2022-04-15
0001734750
move:InducementPlanMember
2022-01-01
2022-06-30
0001734750
pf0:BoardOfDirectorsChairmanMember
us-gaap:StockOptionMember
2022-01-01
2022-06-30
0001734750
move:InducementPlanMember
2022-04-10
2022-04-15
0001734750
2022-04-10
2022-04-15
0001734750
us-gaap:StockOptionMember
2021-01-01
2021-06-30
0001734750
us-gaap:StockOptionMember
2022-01-01
2022-06-30
0001734750
us-gaap:StockOptionMember
2021-06-30
0001734750
2022-06-01
2022-06-21
0001734750
move:FounderMember
2022-06-21
0001734750
pf0:ScenarioForecastMember
2023-06-01
2023-06-30
0001734750
us-gaap:EmployeeStockOptionMember
2022-01-01
2022-06-30
0001734750
us-gaap:EmployeeStockOptionMember
2021-01-01
2021-06-30
0001734750
us-gaap:ResearchAndDevelopmentExpenseMember
2022-01-01
2022-03-31
0001734750
us-gaap:ResearchAndDevelopmentExpenseMember
2021-01-01
2021-03-31
0001734750
us-gaap:ResearchAndDevelopmentExpenseMember
2022-01-01
2022-06-30
0001734750
us-gaap:ResearchAndDevelopmentExpenseMember
2021-01-01
2021-06-30
0001734750
us-gaap:GeneralAndAdministrativeExpenseMember
2022-01-01
2022-03-31
0001734750
us-gaap:GeneralAndAdministrativeExpenseMember
2021-01-01
2021-03-31
0001734750
us-gaap:GeneralAndAdministrativeExpenseMember
2022-01-01
2022-06-30
0001734750
us-gaap:GeneralAndAdministrativeExpenseMember
2021-01-01
2021-06-30
0001734750
2021-05-14
2021-05-14
0001734750
move:FirstTwelveMonthsMember
2022-06-30
0001734750
2022-12-31
0001734750
move:NonexecutiveEmployeesMember
us-gaap:SubsequentEventMember
2022-08-01
2022-08-08
0001734750
us-gaap:SubsequentEventMember
2022-08-01
2022-08-15
shares
iso4217:USD
iso4217:USD
shares
pure
10-Q
true
2022-06-30
2022
false
001-40254
MOVANO INC.
DE
26-0579295
6800 Koll Center Parkway
Pleasanton
CA
94566
(415)
651-3172
Common Stock, par value $0.0001 per share
MOVE
NASDAQ
Yes
Yes
Non-accelerated Filer
true
true
false
false
32819060
17089000
17675000
4214000
15921000
379000
166000
1289000
1296000
22971000
35058000
474000
529000
417000
630000
530000
48000
24392000
36265000
753000
311000
2635000
2907000
3388000
3218000
205000
281000
302000
36000
507000
317000
3895000
3535000
0.0001
0.0001
5000000
5000000
0.0001
0.0001
75000000
75000000
32818060
32818060
32772060
32772060
3000
3000
99077000
97506000
-15000
-11000
-78568000
-64768000
20497000
32730000
24392000
36265000
4112000
3183000
8703000
5125000
2734000
1863000
5081000
3187000
6846000
5046000
13784000
8312000
-6846000
-5046000
-13784000
-8312000
883000
1581000
121000
351000
351000
-22000
8000
-16000
9000
-22000
359000
-16000
-1983000
-6868000
-4687000
-13800000
-10295000
2489000
-6868000
-4687000
-13800000
-12784000
-6868000
-4687000
-13800000
-10295000
15000
-1000
-4000
-1000
-6853000
-4688000
-13804000
-10296000
-0.21
-0.15
-0.42
-0.64
32793907
32017335
32769093
20099402
32772060
3000
98261000
-30000
-71700000
26534000
761000
761000
46000
19000
19000
36000
36000
15000
15000
-6868000
-6868000
32818060
3000
99077000
-15000
-78568000
20497000
32772060
3000
97506000
-11000
-64768000
32730000
1476000
1476000
46000
19000
19000
76000
76000
-4000
-4000
-13800000
-13800000
32818060
3000
99077000
-15000
-78568000
20497000
32772060
3000
95882000
-48603000
47282000
340000
340000
36000
36000
-1000
-1000
-4687000
-4687000
32772060
3000
96258000
-1000
-53290000
42970000
2692253
13856000
4942319
18962000
6393069
1000
-40881000
-40880000
695000
695000
686000
1803000
-2489000
-2489000
134541
49000
49000
74000
74000
2114000
-2114000
-2692253
-14542000
-4942319
-20765000
11436956
1000
35306000
35307000
9775000
1000
41924000
41925000
2349000
2349000
3130000
3130000
5015494
12550000
12550000
17000
85000
85000
471000
471000
-1000
-1000
-10295000
-10295000
32772060
3000
96258000
-1000
-53290000
42970000
-13800000
-10295000
73000
18000
351000
1476000
695000
6000
772000
115000
93000
21000
50000
74000
121000
1581000
-44000
88000
-7000
1008000
5000
45000
442000
5000
-477000
629000
-12153000
-7772000
62000
304000
13424000
-11610000
11548000
-13728000
19000
76000
45019000
19000
45095000
-586000
23595000
17675000
5710000
17089000
29305000
686000
1803000
35307000
3130000
2349000
500000
471000
12550000
76000
74000
11000
497000
25000
<p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify"><span style="text-transform: uppercase"><b>Note
1 – Business Organization, Nature of Operations</b></span></p><p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify"> </p><p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify">Movano Inc. (the “Company”, “Movano”, “we”,
“us” or “our”) was incorporated in Delaware on January 30, 2018 as Maestro Sensors Inc. and changed its name to
Movano Inc. on August 3, 2018. The Company is in the development-stage and is developing a platform to deliver purpose-driven healthcare
solutions at the intersection of medtech and consumer devices. Movano’s mission is to empower and inspire consumers to live a healthier,
happier life.</p><p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify"> </p><p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify">The Company’s solutions are being developed
to provide vital health information, including heart rate, HRV, sleep, respiration rate, temperature, blood oxygen saturation, steps,
calories as well as glucose and blood pressure data, in a variety of form factors to meet individual style needs and give users actionable
feedback to improve their quality of life.</p><p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify"> </p><p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify">On April 28, 2021, the Company established Movano
Ireland Limited, organized under the laws of Ireland, as a wholly owned subsidiary of the Company. Operations and activity at the wholly
owned subsidiary were not significant for the six months ended June 30, 2022.</p><p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify"> </p><p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify">Since inception, the Company has engaged in only
limited research and development of product candidates and underlying technology. As of June 30, 2022, the Company had not yet completed
the development of its product and had not yet recorded any revenues.</p><p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify"> </p><p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify">In December 2019, a novel coronavirus and
the resulting disease (“COVID-19”) was reported, and in January 2020, the World Health Organization (“WHO”)
declared it a Public Health Emergency of International Concern. In February 2020, the WHO raised its assessment of the COVID-19
threat from high to very high at a global level due to the continued increase in the number of cases and affected countries, and in March 2020,
the WHO characterized COVID-19 as a pandemic. The Company is continuing to ascertain the long-term impact of the COVID-19 pandemic on
its business, but given the uncertainty about the situation, the Company cannot estimate the impact to its financial statements from
the economic crisis arising from COVID-19.</p><p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify"> </p><p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify">The Company’s Registration Statement on
Form S-1, as amended (Reg. No. 333-252671), was declared effective by the U.S. Securities and Exchange Commission (the “SEC”)
on March 23, 2021. The registration statement registered the securities offered in the Company’s initial public offering (“IPO”).
In the IPO, the Company sold 9,775,000 shares of common stock at a price to the public of $5.00 per share, including the full exercise
of the underwriters’ option to purchase additional shares. The IPO closed on March 25, 2021 and the underwriters exercised their
overallotment option as of March 25, 2021, as a result of which the Company raised net proceeds of $44.3 million after deducting $3.3
million in underwriting discounts, commissions, and expenses and $1.3 million in offering expenses paid by the Company. National Securities
Corporation (“NSC”) was the underwriter for the IPO, and also received a warrant related to the IPO, which is discussed in
Note 10. No portion of the net proceeds from the IPO were used for payments made by the Company to its directors or officers or persons
owning ten percent or more of its common stock or to their associates, or to the Company’s affiliates, other than payments in the
ordinary course of business to officers for salaries and to nonemployee directors as compensation for board or board committee service.</p><p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify"> </p><p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify">The Company has incurred losses from operations
and has generated negative cash flows from operating activities since inception. The Company expects to continue to incur net losses
for the foreseeable future as it continues the development of its technology. The Company’s ultimate success depends on the outcome
of its research and development and commercialization activities, for which it expects to incur additional losses in the future. Through
June 30, 2022, the Company has relied primarily on the proceeds from equity offerings to finance its operations. The Company expects
to require additional financing to fund its future planned operations, including research and development and commercialization of its
products. The Company will likely raise additional capital through the issuance of equity, borrowings, or strategic alliances with partner
companies. However, if such financing is not available at adequate levels, the Company would need to reevaluate its operating plans.</p><p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify"> </p><p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; "><span><b><i>Liquidity
and Going Concern</i></b></span></p><p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify"> </p><p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify">The accompanying interim condensed
consolidated financial statements have been prepared on a going concern basis, which contemplates the realization of assets and the
satisfaction of liabilities in the normal course of business. The Company has incurred significant losses and has an accumulated
deficit of $78.6 million as of June 30, 2022. The Company anticipates incurring additional losses until such time, if ever, that it
can generate significant sales. The Company’s existence is dependent upon management’s ability to obtain additional
funding sources. These circumstances raise substantial doubt about the Company’s ability to continue as
a going concern within one year after the date that the financial statements are issued.</p><p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify"> </p><p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify">Adequate additional financing may not be available
to the Company on acceptable terms, or at all. If the Company is unable to raise additional capital and/or enter into strategic alliances
when needed or on attractive terms, it would be forced to delay, reduce, or eliminate its product or any commercialization efforts. There
can be no assurance that the Company’s efforts will result in the resolution of the Company’s liquidity needs. The accompanying
interim condensed consolidated financial statements do not include any adjustments that might result should the Company be unable to
continue as a going concern. </p>
9775000
5
44300000
3300000
1300000
78600000
<p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify"><span style="text-transform: uppercase"><b>Note
2 – Summary of Significant Accounting Policies</b></span></p><p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify"> </p><p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify"><b><i>Basis of Presentation</i></b></p><p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify"> </p><p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify">The accompanying unaudited condensed consolidated
financial statements include the accounts of the Company and its wholly owned subsidiary and have been prepared in accordance with U.S.
generally accepted accounting principles (GAAP) for interim financial information and in accordance with the instructions to Form 10-Q
and Rule 10-01 of Regulation S-X. Accordingly, they do not include all the information and footnotes required by GAAP for complete
financial statements. The unaudited condensed consolidated financial statements have been prepared on the same basis as the annual financial
statements. In the opinion of management, the accompanying unaudited condensed consolidated financial statements reflect all adjustments
(consisting only of normal recurring adjustments) considered necessary for a fair presentation. Intercompany transactions are eliminated
in the condensed consolidated financial statements. These financial statements should be read in conjunction with the audited financial
statements and notes thereto for the preceding fiscal year contained in the Company’s Annual Report on Form 10-K filed on March
30, 2022 with the United States Securities and Exchange Commission (the SEC).</p><p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify"> </p><p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify">The results of operations for the three
six months ended June 30, 2022 are not necessarily indicative of the results to be expected for the year ending December 31, 2022.
The condensed consolidated balance sheet as of December 31, 2021 has been derived from audited financial statements at that date
but does not include all the information required by GAAP for complete financial statements.</p><p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify"> </p><p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify"><b><i>Use of Estimates</i></b></p><p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify"> </p><p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify">The preparation of financial statements in conformity
with U.S. GAAP requires management to make estimates and assumptions that affect the reported amounts of assets and liabilities, the
disclosure of contingent assets and liabilities at the date of the financial statements, and the reported amounts of expenses during
the reporting periods.</p><p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify"> </p><p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify">Significant estimates and assumptions reflected
in these condensed consolidated financial statements include, but are not limited to, the accrual of research and development expenses,
the valuation of common stock, stock options and warrants, the valuation of the embedded redemption derivative liability and income taxes.
Estimates are periodically reviewed considering changes in circumstances, facts, and experience. Changes in estimates are recorded in
the period in which they become known. Actual results could differ from those estimates or assumptions.</p><p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify"> </p><p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify"><b><i>Segment Information</i></b></p><p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify"> </p><p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify">Operating segments are defined as components
of an enterprise about which separate discrete information is available for evaluation by the chief operating decision maker, or decision-making
group, in deciding how to allocate resources and in assessing performance. The Company views its operations and manages its business
in one segment. The Company’s chief operating decision maker is the Chief Executive Officer.</p><p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify"> </p><p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify"><b><i>Cash, Cash Equivalents and Short-term Investments</i></b></p><p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify"> </p><p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify">The Company invests its excess cash primarily
in money market funds, commercial paper and short-term debt securities. The Company considers all highly liquid investments with an original
maturity of three months or less to be cash equivalents. The Company classifies all marketable securities for use in current operations,
even if the security matures beyond 12 months, and presents them as short-term investments in the condensed consolidated balance
sheets.</p><p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify"> </p><p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify">The Company determines the appropriate classification
of marketable securities at the time of purchase and reevaluates such designation at each balance sheet date. The Company has classified
and accounted for the purchased marketable securities as available-for-sale. After considering the Company’s capital preservation
objectives, as well as its liquidity requirements, the Company may sell securities prior to their stated maturities. The Company carries
its available-for-sale short-term investments at fair value. The Company reports the unrealized gains and losses, net of taxes, as a
component of stockholders’ equity, except for unrealized losses determined to be credit-related, which are recorded as other income
(expense), net in the condensed consolidated statements of operations and comprehensive loss and reports an allowance for credit losses
in short-term investments on the balance sheet, if any. The Company determines any realized gains or losses on the sale of short-term
investments on a specific identification method and records such gains and losses as a component of other income (expense), net. Interest
earned on cash, cash equivalents, and short-term investments is recorded in interest and other income, net in the accompanying condensed
consolidated statements of operations and comprehensive loss and was insignificant during the three and six months ended June 30, 2022
and 2021.</p><p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify"> </p><p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify">The Company’s investment policy only allows
purchases of high credit quality instruments and provides guidelines on concentrations and credit quality to ensure minimum risk of loss.
The Company evaluates whether the unrealized loss on available-for-sale short-term investments is the result of the credit worthiness
of the securities it held, or other non-credit-related factors such as liquidity by reviewing a number of factors such as the implied
yield of the corporate note based on the market price, the nature of the invested entity’s business or industry, market capitalization
relative to debt, changes in credit ratings, and the market prices of the instruments subsequent to the period end.</p><p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify"> </p><p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify"><b><i>Concentrations of Credit Risk and Off-Balance
Sheet Risk</i></b></p><p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify"> </p><p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify">Cash and cash equivalents are financial instruments
that are potentially subject to concentrations of credit risk. All cash and cash equivalents are held in United States financial institutions.
Cash equivalents consist of interest-bearing money market accounts. The amounts deposited in the money market accounts exceed federally
insured limits. The Company has not experienced any losses related to this account and believes the associated credit risk to be minimal
due to the financial condition of the depository institutions in which those deposits are held.</p><p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify"> </p><p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify">The Company has no financial instruments with
off-balance sheet risk of loss.</p><p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify"> </p><p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify"><b><i>Convertible Financial Instruments</i></b></p><p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify"> </p><p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify">The Company bifurcates embedded redemption and
conversion options from their host instruments and accounts for them as freestanding derivative financial instruments at fair value if
certain criteria are met. The criteria include circumstances in which (a) the economic characteristics and risks of the embedded derivative
instrument are not clearly and closely related to the economic characteristics and risks of the host contract, (b) the hybrid instrument
that embodies both the embedded derivative instrument and the host contract is not re-measured at fair value under otherwise applicable
GAAP with changes in fair value reported in earnings as they occur and (c) a separate instrument with the same terms as the embedded
derivative instrument would be considered a derivative instrument. Debt discounts under these arrangements are amortized to interest
expense using the interest method over the earlier of the term of the related debt or their earliest date of redemption.</p><p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify"> </p><p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify">From time to time, the Company issues convertible
financial instruments to nonemployees in payment for services that are provided. Until the services are completely rendered, the Company
will expense the principal and any interest earned prior to the service completion to the representative expense account for the services
performed and will record a noncurrent liability for the expected amount of the principal balance. Upon completion of the services, the
Company will reclassify the noncurrent liability balance to the balance of an outstanding convertible financial instrument and assess
the embedded redemption and conversion options that are applicable at that time.</p><p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify"> </p><p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify"><b><i>Income Taxes</i></b></p><p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify"> </p><p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify">The Company accounts for income taxes using the
asset and liability method. Under this method, deferred tax assets and liabilities are determined based on differences between the financial
statement and tax basis of assets and liabilities and net operating loss and credit carryforwards using enacted tax rates in effect for
the year in which the differences are expected to reverse. Valuation allowances are established when necessary to reduce deferred tax
assets to the amounts expected to be realized. As the Company maintained a full valuation allowance against its deferred tax assets,
the changes resulted in no provision or benefit from income taxes during the three and six months ended June 30, 2022 and 2021.</p><p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify"> </p><p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify">For interim periods, the Company estimates its
annual effective income tax rate and applies the estimated rate to the year-to-date income or loss before income taxes. The Company computes
the tax provision or benefit related to items reported separately and recognizes the items net of their related tax effect in the interim
periods in which they occur. The Company recognizes the effect of changes in enacted tax laws or rates in the interim periods in which
the changes occur.</p><p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify"> </p><p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify"><b><i>Stock-Based Compensation</i></b></p><p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify"> </p><p style="text-align: justify; font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">The Company measures equity classified stock-based awards granted to
employees, non-employee directors, and nonemployees based on the estimated grant date fair value of the awards. For stock-based awards
with only service conditions, compensation expense is recognized over the requisite service period, which is generally the vesting period
of the respective award, using the straight-line method. For stock-based awards that include performance conditions, compensation expense
is not recognized until the performance condition is probable to occur. The Company uses the Black-Scholes option pricing model to estimate
the fair value of its stock-based awards. The Black-Scholes option pricing model requires the Company to make assumptions and judgements
about the variables used in the calculations, including the fair value of common stock, expected term, expected volatility of the Company’s
common stock, risk-free interest rate and expected dividend yield. The Company accounts for forfeitures of stock-based awards as they
occur.</p><p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify"> </p><p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify"><b><i>Early Exercised Stock Option Liability</i></b></p><p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify"> </p><p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify">Upon the early exercise of stock options by employees,
the Company records as a liability the purchase price of unvested common stock that the Company has a right to repurchase if and when
the employment of the stockholder terminates before the end of the requisite service period. The proceeds originally recorded as a liability
are reclassified to additional paid-in capital as the Company’s repurchase right lapses.</p><p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify"> </p><p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify"><b><i>Net Loss per Share Attributable to Common
Stockholders</i></b></p><p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify"> </p><p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify">Basic net loss per share attributable to common
stockholders is calculated by dividing the net loss attributable to common stockholders by the weighted average number of shares of common
stock outstanding during the period, without consideration for common stock equivalents. The net loss attributable to common stockholders
is calculated by adjusting the net loss of the Company for the accretion on the Series A and B redeemable convertible preferred stock
and cumulative dividends on Series A and B redeemable convertible preferred stock. Diluted net loss per share attributable to common
stockholders is the same as basic net loss per share attributable to common stockholders, since the effects of potentially dilutive securities
are antidilutive.</p><p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify"> </p><p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify"><b>Recently Adopted Accounting Pronouncements</b></p><p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0"><i> </i></p><p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0"><i>Adoption of ASU No. 2016-02</i></p><p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify"> </p><p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify">The Company adopted FASB’s ASU No. 2016-02,
<i>Leases</i> (“ASC 842”), as of January 1, 2022, using the modified retrospective approach which provides a method for recording
existing leases at the beginning of the period of adoption.</p><p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify"> </p><p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify">In addition, the Company elected the package
of practical expedients and other expedients permitted under the transition guidance within the new standard, which among other things,
allowed the Company to carry forward the historical lease classification and not to restate the comparative periods prior to the adoption
and to combine lease and non-lease components for all asset classes. The Company made an accounting policy election not to recognize
right of use assets and lease liabilities for leases with a lease term of 12 months or less, including renewal options that are reasonably
certain to be exercised, that also do not include an option to purchase the underlying asset that is reasonably certain of exercise.
Instead, lease payments for these leases are recognized as lease expense on a straight-line basis over the lease term. The disclosures
required under ASC 842 are not presented for periods before the date of adoption. For the comparative periods prior to adoption, the
Company presented the disclosures which were required under the previous accounting guidance. The adoption of the new standard did not
have a material impact on the Company’s results of operations or cash flows.</p><p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify"> </p><p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify">Operating lease right of use (“ROU”)
assets represent the right to use the leased asset for the lease term and operating lease liabilities are recognized based on the present
value of the future minimum lease payments over the lease term at commencement date. Adoption of the new standard resulted in the recording
of operating lease liabilities of $429,000 and ROU assets of $380,000 as of January 1, 2022. The difference between the ROU assets and
lease liabilities represents the net book value of deferred rent recognized as of December 31, 2021, which was adjusted against the ROU
asset upon adoption. The ROU asset is included in other assets on the Company’s condensed consolidated balance sheet. At adoption,
operating lease liabilities of $166,000 and $263,000, respectively, were included in other current liabilities and other noncurrent liabilities
on the Company’s condensed consolidated balance sheet.</p><p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify"> </p><p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify">As most leases do not provide an implicit rate,
the Company uses an incremental borrowing rate based on the information available at the adoption date in determining the present value
of future payments. Lease expense for minimum lease payments is amortized on a straight-line basis over the lease term and is included
in research and development expenses and general and administrative expenses in the condensed consolidated statements of operations and
comprehensive loss. Variable lease payments for common area maintenance, property taxes and other operating expenses are recognized as
expense in the period when the changes in facts and circumstances on which the variable lease payments are based occur.</p>
<p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify"><b><i>Basis of Presentation</i></b></p><p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify"> </p><p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify">The accompanying unaudited condensed consolidated
financial statements include the accounts of the Company and its wholly owned subsidiary and have been prepared in accordance with U.S.
generally accepted accounting principles (GAAP) for interim financial information and in accordance with the instructions to Form 10-Q
and Rule 10-01 of Regulation S-X. Accordingly, they do not include all the information and footnotes required by GAAP for complete
financial statements. The unaudited condensed consolidated financial statements have been prepared on the same basis as the annual financial
statements. In the opinion of management, the accompanying unaudited condensed consolidated financial statements reflect all adjustments
(consisting only of normal recurring adjustments) considered necessary for a fair presentation. Intercompany transactions are eliminated
in the condensed consolidated financial statements. These financial statements should be read in conjunction with the audited financial
statements and notes thereto for the preceding fiscal year contained in the Company’s Annual Report on Form 10-K filed on March
30, 2022 with the United States Securities and Exchange Commission (the SEC).</p><p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify"> </p><p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify">The results of operations for the three
six months ended June 30, 2022 are not necessarily indicative of the results to be expected for the year ending December 31, 2022.
The condensed consolidated balance sheet as of December 31, 2021 has been derived from audited financial statements at that date
but does not include all the information required by GAAP for complete financial statements.</p><p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify"> </p>
<p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify"><b><i>Use of Estimates</i></b></p><p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify"> </p><p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify">The preparation of financial statements in conformity
with U.S. GAAP requires management to make estimates and assumptions that affect the reported amounts of assets and liabilities, the
disclosure of contingent assets and liabilities at the date of the financial statements, and the reported amounts of expenses during
the reporting periods.</p><p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify"> </p><p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify">Significant estimates and assumptions reflected
in these condensed consolidated financial statements include, but are not limited to, the accrual of research and development expenses,
the valuation of common stock, stock options and warrants, the valuation of the embedded redemption derivative liability and income taxes.
Estimates are periodically reviewed considering changes in circumstances, facts, and experience. Changes in estimates are recorded in
the period in which they become known. Actual results could differ from those estimates or assumptions.</p><p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify"> </p>
<p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify"><b><i>Segment Information</i></b></p><p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify"> </p><p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify">Operating segments are defined as components
of an enterprise about which separate discrete information is available for evaluation by the chief operating decision maker, or decision-making
group, in deciding how to allocate resources and in assessing performance. The Company views its operations and manages its business
in one segment. The Company’s chief operating decision maker is the Chief Executive Officer.</p><p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify"> </p>
1
<p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify"><b><i>Cash, Cash Equivalents and Short-term Investments</i></b></p><p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify"> </p><p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify">The Company invests its excess cash primarily
in money market funds, commercial paper and short-term debt securities. The Company considers all highly liquid investments with an original
maturity of three months or less to be cash equivalents. The Company classifies all marketable securities for use in current operations,
even if the security matures beyond 12 months, and presents them as short-term investments in the condensed consolidated balance
sheets.</p><p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify"> </p><p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify">The Company determines the appropriate classification
of marketable securities at the time of purchase and reevaluates such designation at each balance sheet date. The Company has classified
and accounted for the purchased marketable securities as available-for-sale. After considering the Company’s capital preservation
objectives, as well as its liquidity requirements, the Company may sell securities prior to their stated maturities. The Company carries
its available-for-sale short-term investments at fair value. The Company reports the unrealized gains and losses, net of taxes, as a
component of stockholders’ equity, except for unrealized losses determined to be credit-related, which are recorded as other income
(expense), net in the condensed consolidated statements of operations and comprehensive loss and reports an allowance for credit losses
in short-term investments on the balance sheet, if any. The Company determines any realized gains or losses on the sale of short-term
investments on a specific identification method and records such gains and losses as a component of other income (expense), net. Interest
earned on cash, cash equivalents, and short-term investments is recorded in interest and other income, net in the accompanying condensed
consolidated statements of operations and comprehensive loss and was insignificant during the three and six months ended June 30, 2022
and 2021.</p><p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify"> </p><p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify">The Company’s investment policy only allows
purchases of high credit quality instruments and provides guidelines on concentrations and credit quality to ensure minimum risk of loss.
The Company evaluates whether the unrealized loss on available-for-sale short-term investments is the result of the credit worthiness
of the securities it held, or other non-credit-related factors such as liquidity by reviewing a number of factors such as the implied
yield of the corporate note based on the market price, the nature of the invested entity’s business or industry, market capitalization
relative to debt, changes in credit ratings, and the market prices of the instruments subsequent to the period end.</p><p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify"> </p>
<p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify"><b><i>Concentrations of Credit Risk and Off-Balance
Sheet Risk</i></b></p><p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify"> </p><p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify">Cash and cash equivalents are financial instruments
that are potentially subject to concentrations of credit risk. All cash and cash equivalents are held in United States financial institutions.
Cash equivalents consist of interest-bearing money market accounts. The amounts deposited in the money market accounts exceed federally
insured limits. The Company has not experienced any losses related to this account and believes the associated credit risk to be minimal
due to the financial condition of the depository institutions in which those deposits are held.</p><p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify"> </p><p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify">The Company has no financial instruments with
off-balance sheet risk of loss.</p><p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify"> </p>
<p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify"><b><i>Convertible Financial Instruments</i></b></p><p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify"> </p><p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify">The Company bifurcates embedded redemption and
conversion options from their host instruments and accounts for them as freestanding derivative financial instruments at fair value if
certain criteria are met. The criteria include circumstances in which (a) the economic characteristics and risks of the embedded derivative
instrument are not clearly and closely related to the economic characteristics and risks of the host contract, (b) the hybrid instrument
that embodies both the embedded derivative instrument and the host contract is not re-measured at fair value under otherwise applicable
GAAP with changes in fair value reported in earnings as they occur and (c) a separate instrument with the same terms as the embedded
derivative instrument would be considered a derivative instrument. Debt discounts under these arrangements are amortized to interest
expense using the interest method over the earlier of the term of the related debt or their earliest date of redemption.</p><p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify"> </p><p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify">From time to time, the Company issues convertible
financial instruments to nonemployees in payment for services that are provided. Until the services are completely rendered, the Company
will expense the principal and any interest earned prior to the service completion to the representative expense account for the services
performed and will record a noncurrent liability for the expected amount of the principal balance. Upon completion of the services, the
Company will reclassify the noncurrent liability balance to the balance of an outstanding convertible financial instrument and assess
the embedded redemption and conversion options that are applicable at that time.</p><p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify"> </p>
<p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify"><b><i>Income Taxes</i></b></p><p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify"> </p><p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify">The Company accounts for income taxes using the
asset and liability method. Under this method, deferred tax assets and liabilities are determined based on differences between the financial
statement and tax basis of assets and liabilities and net operating loss and credit carryforwards using enacted tax rates in effect for
the year in which the differences are expected to reverse. Valuation allowances are established when necessary to reduce deferred tax
assets to the amounts expected to be realized. As the Company maintained a full valuation allowance against its deferred tax assets,
the changes resulted in no provision or benefit from income taxes during the three and six months ended June 30, 2022 and 2021.</p><p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify"> </p><p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify">For interim periods, the Company estimates its
annual effective income tax rate and applies the estimated rate to the year-to-date income or loss before income taxes. The Company computes
the tax provision or benefit related to items reported separately and recognizes the items net of their related tax effect in the interim
periods in which they occur. The Company recognizes the effect of changes in enacted tax laws or rates in the interim periods in which
the changes occur.</p><p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify"> </p>
<p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify"><b><i>Stock-Based Compensation</i></b></p><p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify"> </p><p style="text-align: justify; font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">The Company measures equity classified stock-based awards granted to
employees, non-employee directors, and nonemployees based on the estimated grant date fair value of the awards. For stock-based awards
with only service conditions, compensation expense is recognized over the requisite service period, which is generally the vesting period
of the respective award, using the straight-line method. For stock-based awards that include performance conditions, compensation expense
is not recognized until the performance condition is probable to occur. The Company uses the Black-Scholes option pricing model to estimate
the fair value of its stock-based awards. The Black-Scholes option pricing model requires the Company to make assumptions and judgements
about the variables used in the calculations, including the fair value of common stock, expected term, expected volatility of the Company’s
common stock, risk-free interest rate and expected dividend yield. The Company accounts for forfeitures of stock-based awards as they
occur.</p><p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify"> </p>
<p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify"><b><i>Early Exercised Stock Option Liability</i></b></p><p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify"> </p><p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify">Upon the early exercise of stock options by employees,
the Company records as a liability the purchase price of unvested common stock that the Company has a right to repurchase if and when
the employment of the stockholder terminates before the end of the requisite service period. The proceeds originally recorded as a liability
are reclassified to additional paid-in capital as the Company’s repurchase right lapses.</p><p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify"> </p>
<p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify"><b><i>Net Loss per Share Attributable to Common
Stockholders</i></b></p><p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify"> </p><p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify">Basic net loss per share attributable to common
stockholders is calculated by dividing the net loss attributable to common stockholders by the weighted average number of shares of common
stock outstanding during the period, without consideration for common stock equivalents. The net loss attributable to common stockholders
is calculated by adjusting the net loss of the Company for the accretion on the Series A and B redeemable convertible preferred stock
and cumulative dividends on Series A and B redeemable convertible preferred stock. Diluted net loss per share attributable to common
stockholders is the same as basic net loss per share attributable to common stockholders, since the effects of potentially dilutive securities
are antidilutive.</p><p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify"> </p>
<p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify"><b>Recently Adopted Accounting Pronouncements</b></p><p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0"><i> </i></p><p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0"><i>Adoption of ASU No. 2016-02</i></p><p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify"> </p><p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify">The Company adopted FASB’s ASU No. 2016-02,
<i>Leases</i> (“ASC 842”), as of January 1, 2022, using the modified retrospective approach which provides a method for recording
existing leases at the beginning of the period of adoption.</p><p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify"> </p><p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify">In addition, the Company elected the package
of practical expedients and other expedients permitted under the transition guidance within the new standard, which among other things,
allowed the Company to carry forward the historical lease classification and not to restate the comparative periods prior to the adoption
and to combine lease and non-lease components for all asset classes. The Company made an accounting policy election not to recognize
right of use assets and lease liabilities for leases with a lease term of 12 months or less, including renewal options that are reasonably
certain to be exercised, that also do not include an option to purchase the underlying asset that is reasonably certain of exercise.
Instead, lease payments for these leases are recognized as lease expense on a straight-line basis over the lease term. The disclosures
required under ASC 842 are not presented for periods before the date of adoption. For the comparative periods prior to adoption, the
Company presented the disclosures which were required under the previous accounting guidance. The adoption of the new standard did not
have a material impact on the Company’s results of operations or cash flows.</p><p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify"> </p><p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify">Operating lease right of use (“ROU”)
assets represent the right to use the leased asset for the lease term and operating lease liabilities are recognized based on the present
value of the future minimum lease payments over the lease term at commencement date. Adoption of the new standard resulted in the recording
of operating lease liabilities of $429,000 and ROU assets of $380,000 as of January 1, 2022. The difference between the ROU assets and
lease liabilities represents the net book value of deferred rent recognized as of December 31, 2021, which was adjusted against the ROU
asset upon adoption. The ROU asset is included in other assets on the Company’s condensed consolidated balance sheet. At adoption,
operating lease liabilities of $166,000 and $263,000, respectively, were included in other current liabilities and other noncurrent liabilities
on the Company’s condensed consolidated balance sheet.</p><p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify"> </p><p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify">As most leases do not provide an implicit rate,
the Company uses an incremental borrowing rate based on the information available at the adoption date in determining the present value
of future payments. Lease expense for minimum lease payments is amortized on a straight-line basis over the lease term and is included
in research and development expenses and general and administrative expenses in the condensed consolidated statements of operations and
comprehensive loss. Variable lease payments for common area maintenance, property taxes and other operating expenses are recognized as
expense in the period when the changes in facts and circumstances on which the variable lease payments are based occur.</p>
429000
380000
166000
263000
<p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify"><span style="text-transform: uppercase"><b>Note
3 – FAIR VALUE MEASUREMENTS</b></span> </p><p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0"> </p><p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify">Financial assets and liabilities are recorded
at fair value. The Company uses a three-level hierarchy, which prioritizes, within the measurement of fair value, the use of market-based
information over entity-specific information for fair value measurements based on the nature of inputs used in the valuation of an asset
or liability as of the measurement date. Fair value focuses on an exit price and is defined as the price that would be received to sell
an asset or paid to transfer a liability in an orderly transaction between market participants at the measurement date. The inputs or
methodology used for valuing financial instruments are not necessarily an indication of the risk associated with investing in those financial
instruments.</p><p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify"> </p><p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify">A three-tier fair value hierarchy is used to
prioritize the inputs in measuring fair value as follows:</p><p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify"> </p><table cellpadding="0" cellspacing="0" style="font: 10pt Times New Roman, Times, Serif; width: 100%; border-collapse: collapse">
<tr style="vertical-align: top">
<td style="width: 0.25in; text-align: justify; font-size: 10pt"> </td>
<td style="width: 0.75in; text-align: justify; font-size: 10pt"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"><b>Level
1 </b>–</span></td>
<td style="text-align: justify; font-size: 10pt"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">Quoted
prices in active markets for identical assets or liabilities.</span></td></tr>
</table><p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0"> </p><table cellpadding="0" cellspacing="0" style="font: 10pt Times New Roman, Times, Serif; width: 100%; border-collapse: collapse">
<tr style="vertical-align: top">
<td style="width: 0.25in; text-align: justify"> </td>
<td style="width: 0.75in; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"><b>Level
2 </b>–</span></td>
<td style="text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">Quoted prices for similar
assets or liabilities in active markets, quoted prices for identical or similar assets or liabilities in markets that are not active,
or other inputs that are observable, either directly or indirectly.</span></td></tr>
</table><p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0"> </p><table cellpadding="0" cellspacing="0" style="font: 10pt Times New Roman, Times, Serif; width: 100%; border-collapse: collapse">
<tr style="vertical-align: top">
<td style="width: 0.25in; text-align: justify"> </td>
<td style="width: 0.75in; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"><b>Level
3 </b>–</span></td>
<td style="text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">Significant unobservable
inputs that cannot be corroborated by market data.</span></td></tr>
</table><p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify"> </p><p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify">The Company measures its cash equivalents, short-term
investments and derivative financial instruments at fair value. The Company classifies its cash equivalents and short-term investments
within Level 1 or Level 2 because the Company values these investments using quoted market prices or alternative pricing sources
and models utilizing market observable inputs. The fair value of the Company’s Level 1 financial assets is based on quoted
market prices of the identical underlying security. The fair value of the Company’s Level 2 financial assets is based on inputs
that are directly or indirectly observable in the market, including the readily-available pricing sources for the identical underlying
security that may not be actively traded.</p><p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify"> </p><p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify">The asset’s or liability’s fair value
measurement level within the fair value hierarchy is based on the lowest level of any input that is significant to the fair value measurement.</p><p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify"> </p><p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify">Changes in fair value measurements categorized
within Level 3 of the fair value hierarchy are analyzed each period based on changes in estimates or assumptions and recorded as appropriate.
On December 31, 2020, the warrants related to the Series A preferred stock issuance, the Series B preferred stock issuance, and the convertible
promissory notes and the derivative liability related to the issuance of convertible promissory notes were classified within level 3
of the valuation hierarchy. However, these instruments are not present on March 31, 2021 in light of accounting ramifications of the
IPO, which are discussed further in Note 7 and Note 8.</p><p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify"> </p><p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify">The carrying amounts of prepaid expenses, payroll
tax credit, accounts payable and accrued liabilities approximate fair value due to the short-term nature of these instruments.</p><p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify"> </p><p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify">The following tables provide a summary of the
assets and liabilities that are measured at fair value on a recurring basis as of June 30, 2022 and December 31, 2021 (in thousands). </p><p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify"> </p><p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify"><b><i>Fair Value Measurements</i></b></p><p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify"><b><i> </i></b></p><table cellpadding="0" cellspacing="0" style="font: 8pt Times New Roman, Times, Serif; border-collapse: collapse; width: 100%">
<tr style="font: 8pt Times New Roman, Times, Serif; vertical-align: bottom">
<td style="font: 8pt Times New Roman, Times, Serif"><span style="font-size: 10pt"> </span></td><td style="font: bold 8pt Times New Roman, Times, Serif; padding-bottom: 1.5pt"><span style="font-size: 10pt"> </span></td>
<td colspan="14" style="border-bottom: Black 1.5pt solid; font: bold 8pt Times New Roman, Times, Serif; text-align: center"><span style="font-size: 10pt">June
30, 2022</span></td><td style="font: bold 8pt Times New Roman, Times, Serif; padding-bottom: 1.5pt"><span style="font-size: 10pt"> </span></td></tr>
<tr style="font: 8pt Times New Roman, Times, Serif; vertical-align: bottom">
<td style="font: 8pt Times New Roman, Times, Serif"><span style="font-size: 10pt"> </span></td><td style="font: bold 8pt Times New Roman, Times, Serif; padding-bottom: 1.5pt"><span style="font-size: 10pt"> </span></td>
<td colspan="2" style="border-bottom: Black 1.5pt solid; font: bold 8pt Times New Roman, Times, Serif; text-align: center"><span style="font-size: 10pt">Fair
Value</span></td><td style="font: bold 8pt Times New Roman, Times, Serif; padding-bottom: 1.5pt"><span style="font-size: 10pt"> </span></td><td style="font: bold 8pt Times New Roman, Times, Serif; padding-bottom: 1.5pt"><span style="font-size: 10pt"> </span></td>
<td colspan="2" style="border-bottom: Black 1.5pt solid; font: bold 8pt Times New Roman, Times, Serif; text-align: center"><span style="font-size: 10pt">Level
1</span></td><td style="font: bold 8pt Times New Roman, Times, Serif; padding-bottom: 1.5pt"><span style="font-size: 10pt"> </span></td><td style="font: bold 8pt Times New Roman, Times, Serif; padding-bottom: 1.5pt"><span style="font-size: 10pt"> </span></td>
<td colspan="2" style="border-bottom: Black 1.5pt solid; font: bold 8pt Times New Roman, Times, Serif; text-align: center"><span style="font-size: 10pt">Level
2</span></td><td style="font: bold 8pt Times New Roman, Times, Serif; padding-bottom: 1.5pt"><span style="font-size: 10pt"> </span></td><td style="font: bold 8pt Times New Roman, Times, Serif; padding-bottom: 1.5pt"><span style="font-size: 10pt"> </span></td>
<td colspan="2" style="border-bottom: Black 1.5pt solid; font: bold 8pt Times New Roman, Times, Serif; text-align: center"><span style="font-size: 10pt">Level
3</span></td><td style="font: bold 8pt Times New Roman, Times, Serif; padding-bottom: 1.5pt"><span style="font-size: 10pt"> </span></td></tr>
<tr style="font: 8pt Times New Roman, Times, Serif; vertical-align: bottom">
<td style="font: 8pt Times New Roman, Times, Serif"><span style="font-size: 10pt"> </span></td><td style="font: 8pt Times New Roman, Times, Serif"><span style="font-size: 10pt"> </span></td>
<td colspan="2" style="font: 8pt Times New Roman, Times, Serif"><span style="font-size: 10pt"> </span></td><td style="font: 8pt Times New Roman, Times, Serif"><span style="font-size: 10pt"> </span></td><td style="font: 8pt Times New Roman, Times, Serif"><span style="font-size: 10pt"> </span></td>
<td colspan="2" style="font: 8pt Times New Roman, Times, Serif"><span style="font-size: 10pt"> </span></td><td style="font: 8pt Times New Roman, Times, Serif"><span style="font-size: 10pt"> </span></td><td style="font: 8pt Times New Roman, Times, Serif"><span style="font-size: 10pt"> </span></td>
<td colspan="2" style="font: 8pt Times New Roman, Times, Serif"><span style="font-size: 10pt"> </span></td><td style="font: 8pt Times New Roman, Times, Serif"><span style="font-size: 10pt"> </span></td><td style="font: 8pt Times New Roman, Times, Serif"><span style="font-size: 10pt"> </span></td>
<td colspan="2" style="font: 8pt Times New Roman, Times, Serif"><span style="font-size: 10pt"> </span></td><td style="font: 8pt Times New Roman, Times, Serif"><span style="font-size: 10pt"> </span></td></tr>
<tr style="font: 8pt Times New Roman, Times, Serif; vertical-align: bottom">
<td style="font: 8pt Times New Roman, Times, Serif"><span style="font-size: 10pt">Cash equivalents:</span></td><td style="font: 8pt Times New Roman, Times, Serif"><span style="font-size: 10pt"> </span></td>
<td colspan="2" style="font: 8pt Times New Roman, Times, Serif"><span style="font-size: 10pt"> </span></td><td style="font: 8pt Times New Roman, Times, Serif"><span style="font-size: 10pt"> </span></td><td style="font: 8pt Times New Roman, Times, Serif"><span style="font-size: 10pt"> </span></td>
<td colspan="2" style="font: 8pt Times New Roman, Times, Serif"><span style="font-size: 10pt"> </span></td><td style="font: 8pt Times New Roman, Times, Serif"><span style="font-size: 10pt"> </span></td><td style="font: 8pt Times New Roman, Times, Serif"><span style="font-size: 10pt"> </span></td>
<td colspan="2" style="font: 8pt Times New Roman, Times, Serif"><span style="font-size: 10pt"> </span></td><td style="font: 8pt Times New Roman, Times, Serif"><span style="font-size: 10pt"> </span></td><td style="font: 8pt Times New Roman, Times, Serif"><span style="font-size: 10pt"> </span></td>
<td colspan="2" style="font: 8pt Times New Roman, Times, Serif"><span style="font-size: 10pt"> </span></td><td style="font: 8pt Times New Roman, Times, Serif"><span style="font-size: 10pt"> </span></td></tr>
<tr style="font: 8pt Times New Roman, Times, Serif; vertical-align: bottom; background-color: rgb(204,238,255)">
<td style="font: 8pt Times New Roman, Times, Serif; padding-left: 0.125in; width: 52%; text-align: left; padding-bottom: 1.5pt"><span style="font-size: 10pt">Money
market funds</span></td><td style="font: 8pt Times New Roman, Times, Serif; width: 1%; padding-bottom: 1.5pt"><span style="font-size: 10pt"> </span></td>
<td style="border-bottom: Black 1.5pt solid; font: 8pt Times New Roman, Times, Serif; width: 1%; text-align: left"><span style="font-size: 10pt">$</span></td><td style="border-bottom: Black 1.5pt solid; font: 8pt Times New Roman, Times, Serif; width: 9%; text-align: right"><span style="font-size: 10pt">15,620</span></td><td style="font: 8pt Times New Roman, Times, Serif; width: 1%; padding-bottom: 1.5pt; text-align: left"><span style="font-size: 10pt"> </span></td><td style="font: 8pt Times New Roman, Times, Serif; width: 1%; padding-bottom: 1.5pt"><span style="font-size: 10pt"> </span></td>
<td style="border-bottom: Black 1.5pt solid; font: 8pt Times New Roman, Times, Serif; width: 1%; text-align: left"><span style="font-size: 10pt">$</span></td><td style="border-bottom: Black 1.5pt solid; font: 8pt Times New Roman, Times, Serif; width: 9%; text-align: right"><span style="font-size: 10pt">15,620</span></td><td style="font: 8pt Times New Roman, Times, Serif; width: 1%; padding-bottom: 1.5pt; text-align: left"><span style="font-size: 10pt"> </span></td><td style="font: 8pt Times New Roman, Times, Serif; width: 1%; padding-bottom: 1.5pt"><span style="font-size: 10pt"> </span></td>
<td style="border-bottom: Black 1.5pt solid; font: 8pt Times New Roman, Times, Serif; width: 1%; text-align: left"><span style="font-size: 10pt">$</span></td><td style="border-bottom: Black 1.5pt solid; font: 8pt Times New Roman, Times, Serif; width: 9%; text-align: right"><span style="-sec-ix-hidden: hidden-fact-211; font-size: 10pt">—</span></td><td style="font: 8pt Times New Roman, Times, Serif; width: 1%; padding-bottom: 1.5pt; text-align: left"><span style="font-size: 10pt"> </span></td><td style="font: 8pt Times New Roman, Times, Serif; width: 1%; padding-bottom: 1.5pt"><span style="font-size: 10pt"> </span></td>
<td style="border-bottom: Black 1.5pt solid; font: 8pt Times New Roman, Times, Serif; width: 1%; text-align: left"><span style="font-size: 10pt">$</span></td><td style="border-bottom: Black 1.5pt solid; font: 8pt Times New Roman, Times, Serif; width: 9%; text-align: right"><span style="-sec-ix-hidden: hidden-fact-212; font-size: 10pt">—</span></td><td style="font: 8pt Times New Roman, Times, Serif; width: 1%; padding-bottom: 1.5pt; text-align: left"><span style="font-size: 10pt"> </span></td></tr>
<tr style="font: 8pt Times New Roman, Times, Serif; vertical-align: bottom; ">
<td style="font: 8pt Times New Roman, Times, Serif; text-align: left; padding-bottom: 4pt"><span style="font-size: 10pt">Total cash
equivalents</span></td><td style="font: 8pt Times New Roman, Times, Serif; padding-bottom: 4pt"><span style="font-size: 10pt"> </span></td>
<td style="border-bottom: Black 4pt double; font: 8pt Times New Roman, Times, Serif; text-align: left"><span style="font-size: 10pt">$</span></td><td style="border-bottom: Black 4pt double; font: 8pt Times New Roman, Times, Serif; text-align: right"><span style="font-size: 10pt">15,620</span></td><td style="font: 8pt Times New Roman, Times, Serif; padding-bottom: 4pt; text-align: left"><span style="font-size: 10pt"> </span></td><td style="font: 8pt Times New Roman, Times, Serif; padding-bottom: 4pt"><span style="font-size: 10pt"> </span></td>
<td style="border-bottom: Black 4pt double; font: 8pt Times New Roman, Times, Serif; text-align: left"><span style="font-size: 10pt">$</span></td><td style="border-bottom: Black 4pt double; font: 8pt Times New Roman, Times, Serif; text-align: right"><span style="font-size: 10pt">15,620</span></td><td style="font: 8pt Times New Roman, Times, Serif; padding-bottom: 4pt; text-align: left"><span style="font-size: 10pt"> </span></td><td style="font: 8pt Times New Roman, Times, Serif; padding-bottom: 4pt"><span style="font-size: 10pt"> </span></td>
<td style="border-bottom: Black 4pt double; font: 8pt Times New Roman, Times, Serif; text-align: left"><span style="font-size: 10pt">$</span></td><td style="border-bottom: Black 4pt double; font: 8pt Times New Roman, Times, Serif; text-align: right"><span style="-sec-ix-hidden: hidden-fact-213; font-size: 10pt">—</span></td><td style="font: 8pt Times New Roman, Times, Serif; padding-bottom: 4pt; text-align: left"><span style="font-size: 10pt"> </span></td><td style="font: 8pt Times New Roman, Times, Serif; padding-bottom: 4pt"><span style="font-size: 10pt"> </span></td>
<td style="border-bottom: Black 4pt double; font: 8pt Times New Roman, Times, Serif; text-align: left"><span style="font-size: 10pt">$</span></td><td style="border-bottom: Black 4pt double; font: 8pt Times New Roman, Times, Serif; text-align: right"><span style="-sec-ix-hidden: hidden-fact-214; font-size: 10pt">—</span></td><td style="font: 8pt Times New Roman, Times, Serif; padding-bottom: 4pt; text-align: left"><span style="font-size: 10pt"> </span></td></tr>
<tr style="font: 8pt Times New Roman, Times, Serif; vertical-align: bottom; background-color: rgb(204,238,255)">
<td style="font: 8pt Times New Roman, Times, Serif"><span style="font-size: 10pt"> </span></td><td style="font: 8pt Times New Roman, Times, Serif"><span style="font-size: 10pt"> </span></td>
<td style="font: 8pt Times New Roman, Times, Serif; text-align: left"><span style="font-size: 10pt"> </span></td><td style="font: 8pt Times New Roman, Times, Serif; text-align: right"><span style="font-size: 10pt"> </span></td><td style="font: 8pt Times New Roman, Times, Serif; text-align: left"><span style="font-size: 10pt"> </span></td><td style="font: 8pt Times New Roman, Times, Serif"><span style="font-size: 10pt"> </span></td>
<td style="font: 8pt Times New Roman, Times, Serif; text-align: left"><span style="font-size: 10pt"> </span></td><td style="font: 8pt Times New Roman, Times, Serif; text-align: right"><span style="font-size: 10pt"> </span></td><td style="font: 8pt Times New Roman, Times, Serif; text-align: left"><span style="font-size: 10pt"> </span></td><td style="font: 8pt Times New Roman, Times, Serif"><span style="font-size: 10pt"> </span></td>
<td style="font: 8pt Times New Roman, Times, Serif; text-align: left"><span style="font-size: 10pt"> </span></td><td style="font: 8pt Times New Roman, Times, Serif; text-align: right"><span style="font-size: 10pt"> </span></td><td style="font: 8pt Times New Roman, Times, Serif; text-align: left"><span style="font-size: 10pt"> </span></td><td style="font: 8pt Times New Roman, Times, Serif"><span style="font-size: 10pt"> </span></td>
<td style="font: 8pt Times New Roman, Times, Serif; text-align: left"><span style="font-size: 10pt"> </span></td><td style="font: 8pt Times New Roman, Times, Serif; text-align: right"><span style="font-size: 10pt"> </span></td><td style="font: 8pt Times New Roman, Times, Serif; text-align: left"><span style="font-size: 10pt"> </span></td></tr>
<tr style="font: 8pt Times New Roman, Times, Serif; vertical-align: bottom; ">
<td style="font: 8pt Times New Roman, Times, Serif; text-align: left"><span style="font-size: 10pt">Short-term investments:</span></td><td style="font: 8pt Times New Roman, Times, Serif"><span style="font-size: 10pt"> </span></td>
<td style="font: 8pt Times New Roman, Times, Serif; text-align: left"><span style="font-size: 10pt"> </span></td><td style="font: 8pt Times New Roman, Times, Serif; text-align: right"><span style="font-size: 10pt"> </span></td><td style="font: 8pt Times New Roman, Times, Serif; text-align: left"><span style="font-size: 10pt"> </span></td><td style="font: 8pt Times New Roman, Times, Serif"><span style="font-size: 10pt"> </span></td>
<td style="font: 8pt Times New Roman, Times, Serif; text-align: left"><span style="font-size: 10pt"> </span></td><td style="font: 8pt Times New Roman, Times, Serif; text-align: right"><span style="font-size: 10pt"> </span></td><td style="font: 8pt Times New Roman, Times, Serif; text-align: left"><span style="font-size: 10pt"> </span></td><td style="font: 8pt Times New Roman, Times, Serif"><span style="font-size: 10pt"> </span></td>
<td style="font: 8pt Times New Roman, Times, Serif; text-align: left"><span style="font-size: 10pt"> </span></td><td style="font: 8pt Times New Roman, Times, Serif; text-align: right"><span style="font-size: 10pt"> </span></td><td style="font: 8pt Times New Roman, Times, Serif; text-align: left"><span style="font-size: 10pt"> </span></td><td style="font: 8pt Times New Roman, Times, Serif"><span style="font-size: 10pt"> </span></td>
<td style="font: 8pt Times New Roman, Times, Serif; text-align: left"><span style="font-size: 10pt"> </span></td><td style="font: 8pt Times New Roman, Times, Serif; text-align: right"><span style="font-size: 10pt"> </span></td><td style="font: 8pt Times New Roman, Times, Serif; text-align: left"><span style="font-size: 10pt"> </span></td></tr>
<tr style="font: 8pt Times New Roman, Times, Serif; vertical-align: bottom; background-color: rgb(204,238,255)">
<td style="font: 8pt Times New Roman, Times, Serif; padding-left: 0.125in"><span style="font-size: 10pt">Certificates of deposit</span></td><td style="font: 8pt Times New Roman, Times, Serif"><span style="font-size: 10pt"> </span></td>
<td style="font: 8pt Times New Roman, Times, Serif; text-align: left"><span style="font-size: 10pt">$</span></td><td style="font: 8pt Times New Roman, Times, Serif; text-align: right"><span style="font-size: 10pt">249</span></td><td style="font: 8pt Times New Roman, Times, Serif; text-align: left"><span style="font-size: 10pt"> </span></td><td style="font: 8pt Times New Roman, Times, Serif"><span style="font-size: 10pt"> </span></td>
<td style="font: 8pt Times New Roman, Times, Serif; text-align: left"><span style="font-size: 10pt">$</span></td><td style="font: 8pt Times New Roman, Times, Serif; text-align: right"><span style="-sec-ix-hidden: hidden-fact-215; font-size: 10pt">—</span></td><td style="font: 8pt Times New Roman, Times, Serif; text-align: left"><span style="font-size: 10pt"> </span></td><td style="font: 8pt Times New Roman, Times, Serif"><span style="font-size: 10pt"> </span></td>
<td style="font: 8pt Times New Roman, Times, Serif; text-align: left"><span style="font-size: 10pt">$</span></td><td style="font: 8pt Times New Roman, Times, Serif; text-align: right"><span style="font-size: 10pt">249</span></td><td style="font: 8pt Times New Roman, Times, Serif; text-align: left"><span style="font-size: 10pt"> </span></td><td style="font: 8pt Times New Roman, Times, Serif"><span style="font-size: 10pt"> </span></td>
<td style="font: 8pt Times New Roman, Times, Serif; text-align: left"><span style="font-size: 10pt">$</span></td><td style="font: 8pt Times New Roman, Times, Serif; text-align: right"><span style="-sec-ix-hidden: hidden-fact-216; font-size: 10pt">—</span></td><td style="font: 8pt Times New Roman, Times, Serif; text-align: left"><span style="font-size: 10pt"> </span></td></tr>
<tr style="font: 8pt Times New Roman, Times, Serif; vertical-align: bottom; ">
<td style="font: 8pt Times New Roman, Times, Serif; padding-left: 0.125in; text-align: left"><span style="font-size: 10pt">Commercial
paper</span></td><td style="font: 8pt Times New Roman, Times, Serif"><span style="font-size: 10pt"> </span></td>
<td style="font: 8pt Times New Roman, Times, Serif; text-align: left"><span style="font-size: 10pt"> </span></td><td style="font: 8pt Times New Roman, Times, Serif; text-align: right"><span style="font-size: 10pt">550</span></td><td style="font: 8pt Times New Roman, Times, Serif; text-align: left"><span style="font-size: 10pt"> </span></td><td style="font: 8pt Times New Roman, Times, Serif"><span style="font-size: 10pt"> </span></td>
<td style="font: 8pt Times New Roman, Times, Serif; text-align: left"><span style="font-size: 10pt"> </span></td><td style="font: 8pt Times New Roman, Times, Serif; text-align: right"><span style="-sec-ix-hidden: hidden-fact-217; font-size: 10pt">—</span></td><td style="font: 8pt Times New Roman, Times, Serif; text-align: left"><span style="font-size: 10pt"> </span></td><td style="font: 8pt Times New Roman, Times, Serif"><span style="font-size: 10pt"> </span></td>
<td style="font: 8pt Times New Roman, Times, Serif; text-align: left"><span style="font-size: 10pt"> </span></td><td style="font: 8pt Times New Roman, Times, Serif; text-align: right"><span style="font-size: 10pt">550</span></td><td style="font: 8pt Times New Roman, Times, Serif; text-align: left"><span style="font-size: 10pt"> </span></td><td style="font: 8pt Times New Roman, Times, Serif"><span style="font-size: 10pt"> </span></td>
<td style="font: 8pt Times New Roman, Times, Serif; text-align: left"><span style="font-size: 10pt"> </span></td><td style="font: 8pt Times New Roman, Times, Serif; text-align: right"><span style="-sec-ix-hidden: hidden-fact-218; font-size: 10pt">—</span></td><td style="font: 8pt Times New Roman, Times, Serif; text-align: left"><span style="font-size: 10pt"> </span></td></tr>
<tr style="font: 8pt Times New Roman, Times, Serif; vertical-align: bottom; background-color: rgb(204,238,255)">
<td style="font: 8pt Times New Roman, Times, Serif; padding-left: 0.125in; text-align: left"><span style="font-size: 10pt">Corporate
notes</span></td><td style="font: 8pt Times New Roman, Times, Serif"><span style="font-size: 10pt"> </span></td>
<td style="font: 8pt Times New Roman, Times, Serif; text-align: left"><span style="font-size: 10pt"> </span></td><td style="font: 8pt Times New Roman, Times, Serif; text-align: right"><span style="font-size: 10pt">3,415</span></td><td style="font: 8pt Times New Roman, Times, Serif; text-align: left"><span style="font-size: 10pt"> </span></td><td style="font: 8pt Times New Roman, Times, Serif"><span style="font-size: 10pt"> </span></td>
<td style="font: 8pt Times New Roman, Times, Serif; text-align: left"><span style="font-size: 10pt"> </span></td><td style="font: 8pt Times New Roman, Times, Serif; text-align: right"><span style="-sec-ix-hidden: hidden-fact-219; font-size: 10pt">—</span></td><td style="font: 8pt Times New Roman, Times, Serif; text-align: left"><span style="font-size: 10pt"> </span></td><td style="font: 8pt Times New Roman, Times, Serif"><span style="font-size: 10pt"> </span></td>
<td style="font: 8pt Times New Roman, Times, Serif; text-align: left"><span style="font-size: 10pt"> </span></td><td style="font: 8pt Times New Roman, Times, Serif; text-align: right"><span style="font-size: 10pt">3,415</span></td><td style="font: 8pt Times New Roman, Times, Serif; text-align: left"><span style="font-size: 10pt"> </span></td><td style="font: 8pt Times New Roman, Times, Serif"><span style="font-size: 10pt"> </span></td>
<td style="font: 8pt Times New Roman, Times, Serif; text-align: left"><span style="font-size: 10pt"> </span></td><td style="font: 8pt Times New Roman, Times, Serif; text-align: right"><span style="-sec-ix-hidden: hidden-fact-220; font-size: 10pt">—</span></td><td style="font: 8pt Times New Roman, Times, Serif; text-align: left"><span style="font-size: 10pt"> </span></td></tr>
<tr style="font: 8pt Times New Roman, Times, Serif; vertical-align: bottom; ">
<td style="font: 8pt Times New Roman, Times, Serif; padding-left: 0.125in; text-align: left; padding-bottom: 1.5pt"><span style="font-size: 10pt">Municipal
bonds</span></td><td style="font: 8pt Times New Roman, Times, Serif; padding-bottom: 1.5pt"><span style="font-size: 10pt"> </span></td>
<td style="border-bottom: Black 1.5pt solid; font: 8pt Times New Roman, Times, Serif; text-align: left"><span style="font-size: 10pt"> </span></td><td style="border-bottom: Black 1.5pt solid; font: 8pt Times New Roman, Times, Serif; text-align: right"><span style="-sec-ix-hidden: hidden-fact-221; font-size: 10pt">—</span></td><td style="font: 8pt Times New Roman, Times, Serif; padding-bottom: 1.5pt; text-align: left"><span style="font-size: 10pt"> </span></td><td style="font: 8pt Times New Roman, Times, Serif; padding-bottom: 1.5pt"><span style="font-size: 10pt"> </span></td>
<td style="border-bottom: Black 1.5pt solid; font: 8pt Times New Roman, Times, Serif; text-align: left"><span style="font-size: 10pt"> </span></td><td style="border-bottom: Black 1.5pt solid; font: 8pt Times New Roman, Times, Serif; text-align: right"><span style="-sec-ix-hidden: hidden-fact-222; font-size: 10pt">—</span></td><td style="font: 8pt Times New Roman, Times, Serif; padding-bottom: 1.5pt; text-align: left"><span style="font-size: 10pt"> </span></td><td style="font: 8pt Times New Roman, Times, Serif; padding-bottom: 1.5pt"><span style="font-size: 10pt"> </span></td>
<td style="border-bottom: Black 1.5pt solid; font: 8pt Times New Roman, Times, Serif; text-align: left"><span style="font-size: 10pt"> </span></td><td style="border-bottom: Black 1.5pt solid; font: 8pt Times New Roman, Times, Serif; text-align: right"><span style="-sec-ix-hidden: hidden-fact-223; font-size: 10pt">—</span></td><td style="font: 8pt Times New Roman, Times, Serif; padding-bottom: 1.5pt; text-align: left"><span style="font-size: 10pt"> </span></td><td style="font: 8pt Times New Roman, Times, Serif; padding-bottom: 1.5pt"><span style="font-size: 10pt"> </span></td>
<td style="border-bottom: Black 1.5pt solid; font: 8pt Times New Roman, Times, Serif; text-align: left"><span style="font-size: 10pt"> </span></td><td style="border-bottom: Black 1.5pt solid; font: 8pt Times New Roman, Times, Serif; text-align: right"><span style="-sec-ix-hidden: hidden-fact-224; font-size: 10pt">—</span></td><td style="font: 8pt Times New Roman, Times, Serif; padding-bottom: 1.5pt; text-align: left"><span style="font-size: 10pt"> </span></td></tr>
<tr style="font: 8pt Times New Roman, Times, Serif; vertical-align: bottom; background-color: rgb(204,238,255)">
<td style="font: 8pt Times New Roman, Times, Serif; text-align: left; padding-bottom: 4pt"><span style="font-size: 10pt">Total short-term
investments</span></td><td style="font: 8pt Times New Roman, Times, Serif; padding-bottom: 4pt"><span style="font-size: 10pt"> </span></td>
<td style="border-bottom: Black 4pt double; font: 8pt Times New Roman, Times, Serif; text-align: left"><span style="font-size: 10pt">$</span></td><td style="border-bottom: Black 4pt double; font: 8pt Times New Roman, Times, Serif; text-align: right"><span style="font-size: 10pt">4,214</span></td><td style="font: 8pt Times New Roman, Times, Serif; padding-bottom: 4pt; text-align: left"><span style="font-size: 10pt"> </span></td><td style="font: 8pt Times New Roman, Times, Serif; padding-bottom: 4pt"><span style="font-size: 10pt"> </span></td>
<td style="border-bottom: Black 4pt double; font: 8pt Times New Roman, Times, Serif; text-align: left"><span style="font-size: 10pt">$</span></td><td style="border-bottom: Black 4pt double; font: 8pt Times New Roman, Times, Serif; text-align: right"><span style="-sec-ix-hidden: hidden-fact-225; font-size: 10pt">—</span></td><td style="font: 8pt Times New Roman, Times, Serif; padding-bottom: 4pt; text-align: left"><span style="font-size: 10pt"> </span></td><td style="font: 8pt Times New Roman, Times, Serif; padding-bottom: 4pt"><span style="font-size: 10pt"> </span></td>
<td style="border-bottom: Black 4pt double; font: 8pt Times New Roman, Times, Serif; text-align: left"><span style="font-size: 10pt">$</span></td><td style="border-bottom: Black 4pt double; font: 8pt Times New Roman, Times, Serif; text-align: right"><span style="font-size: 10pt">4,214</span></td><td style="font: 8pt Times New Roman, Times, Serif; padding-bottom: 4pt; text-align: left"><span style="font-size: 10pt"> </span></td><td style="font: 8pt Times New Roman, Times, Serif; padding-bottom: 4pt"><span style="font-size: 10pt"> </span></td>
<td style="border-bottom: Black 4pt double; font: 8pt Times New Roman, Times, Serif; text-align: left"><span style="font-size: 10pt">$</span></td><td style="border-bottom: Black 4pt double; font: 8pt Times New Roman, Times, Serif; text-align: right"><span style="-sec-ix-hidden: hidden-fact-226; font-size: 10pt">—</span></td><td style="font: 8pt Times New Roman, Times, Serif; padding-bottom: 4pt; text-align: left"><span style="font-size: 10pt"> </span></td></tr>
</table><p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify"><b><i> </i></b></p><table cellpadding="0" cellspacing="0" style="font: 8pt Times New Roman, Times, Serif; border-collapse: collapse; width: 100%">
<tr style="font: 8pt Times New Roman, Times, Serif; vertical-align: bottom">
<td style="font: 8pt Times New Roman, Times, Serif"><span style="font-size: 10pt"> </span></td><td style="font: bold 8pt Times New Roman, Times, Serif; padding-bottom: 1.5pt"><span style="font-size: 10pt"> </span></td>
<td colspan="14" style="border-bottom: Black 1.5pt solid; font: bold 8pt Times New Roman, Times, Serif; text-align: center"><span style="font-size: 10pt">December
31, 2021</span></td><td style="font: bold 8pt Times New Roman, Times, Serif; padding-bottom: 1.5pt"><span style="font-size: 10pt"> </span></td></tr>
<tr style="font: 8pt Times New Roman, Times, Serif; vertical-align: bottom">
<td style="font: 8pt Times New Roman, Times, Serif"><span style="font-size: 10pt"> </span></td><td style="font: bold 8pt Times New Roman, Times, Serif; padding-bottom: 1.5pt"><span style="font-size: 10pt"> </span></td>
<td colspan="2" style="border-bottom: Black 1.5pt solid; font: bold 8pt Times New Roman, Times, Serif; text-align: center"><span style="font-size: 10pt">Fair
Value</span></td><td style="font: bold 8pt Times New Roman, Times, Serif; padding-bottom: 1.5pt"><span style="font-size: 10pt"> </span></td><td style="font: bold 8pt Times New Roman, Times, Serif; padding-bottom: 1.5pt"><span style="font-size: 10pt"> </span></td>
<td colspan="2" style="border-bottom: Black 1.5pt solid; font: bold 8pt Times New Roman, Times, Serif; text-align: center"><span style="font-size: 10pt">Level
1</span></td><td style="font: bold 8pt Times New Roman, Times, Serif; padding-bottom: 1.5pt"><span style="font-size: 10pt"> </span></td><td style="font: bold 8pt Times New Roman, Times, Serif; padding-bottom: 1.5pt"><span style="font-size: 10pt"> </span></td>
<td colspan="2" style="border-bottom: Black 1.5pt solid; font: bold 8pt Times New Roman, Times, Serif; text-align: center"><span style="font-size: 10pt">Level
2</span></td><td style="font: bold 8pt Times New Roman, Times, Serif; padding-bottom: 1.5pt"><span style="font-size: 10pt"> </span></td><td style="font: bold 8pt Times New Roman, Times, Serif; padding-bottom: 1.5pt"><span style="font-size: 10pt"> </span></td>
<td colspan="2" style="border-bottom: Black 1.5pt solid; font: bold 8pt Times New Roman, Times, Serif; text-align: center"><span style="font-size: 10pt">Level
3</span></td><td style="font: bold 8pt Times New Roman, Times, Serif; padding-bottom: 1.5pt"><span style="font-size: 10pt"> </span></td></tr>
<tr style="font: 8pt Times New Roman, Times, Serif; vertical-align: bottom">
<td style="font: 8pt Times New Roman, Times, Serif"><span style="font-size: 10pt"> </span></td><td style="font: 8pt Times New Roman, Times, Serif"><span style="font-size: 10pt"> </span></td>
<td colspan="2" style="font: 8pt Times New Roman, Times, Serif"><span style="font-size: 10pt"> </span></td><td style="font: 8pt Times New Roman, Times, Serif"><span style="font-size: 10pt"> </span></td><td style="font: 8pt Times New Roman, Times, Serif"><span style="font-size: 10pt"> </span></td>
<td colspan="2" style="font: 8pt Times New Roman, Times, Serif"><span style="font-size: 10pt"> </span></td><td style="font: 8pt Times New Roman, Times, Serif"><span style="font-size: 10pt"> </span></td><td style="font: 8pt Times New Roman, Times, Serif"><span style="font-size: 10pt"> </span></td>
<td colspan="2" style="font: 8pt Times New Roman, Times, Serif"><span style="font-size: 10pt"> </span></td><td style="font: 8pt Times New Roman, Times, Serif"><span style="font-size: 10pt"> </span></td><td style="font: 8pt Times New Roman, Times, Serif"><span style="font-size: 10pt"> </span></td>
<td colspan="2" style="font: 8pt Times New Roman, Times, Serif"><span style="font-size: 10pt"> </span></td><td style="font: 8pt Times New Roman, Times, Serif"><span style="font-size: 10pt"> </span></td></tr>
<tr style="font: 8pt Times New Roman, Times, Serif; vertical-align: bottom">
<td style="font: 8pt Times New Roman, Times, Serif"><span style="font-size: 10pt">Cash equivalents:</span></td><td style="font: 8pt Times New Roman, Times, Serif"><span style="font-size: 10pt"> </span></td>
<td colspan="2" style="font: 8pt Times New Roman, Times, Serif"><span style="font-size: 10pt"> </span></td><td style="font: 8pt Times New Roman, Times, Serif"><span style="font-size: 10pt"> </span></td><td style="font: 8pt Times New Roman, Times, Serif"><span style="font-size: 10pt"> </span></td>
<td colspan="2" style="font: 8pt Times New Roman, Times, Serif"><span style="font-size: 10pt"> </span></td><td style="font: 8pt Times New Roman, Times, Serif"><span style="font-size: 10pt"> </span></td><td style="font: 8pt Times New Roman, Times, Serif"><span style="font-size: 10pt"> </span></td>
<td colspan="2" style="font: 8pt Times New Roman, Times, Serif"><span style="font-size: 10pt"> </span></td><td style="font: 8pt Times New Roman, Times, Serif"><span style="font-size: 10pt"> </span></td><td style="font: 8pt Times New Roman, Times, Serif"><span style="font-size: 10pt"> </span></td>
<td colspan="2" style="font: 8pt Times New Roman, Times, Serif"><span style="font-size: 10pt"> </span></td><td style="font: 8pt Times New Roman, Times, Serif"><span style="font-size: 10pt"> </span></td></tr>
<tr style="font: 8pt Times New Roman, Times, Serif; vertical-align: bottom; background-color: rgb(204,238,255)">
<td style="font: 8pt Times New Roman, Times, Serif; padding-left: 0.125in; width: 52%; text-align: left; padding-bottom: 1.5pt"><span style="font-size: 10pt">Money
market funds</span></td><td style="font: 8pt Times New Roman, Times, Serif; width: 1%; padding-bottom: 1.5pt"><span style="font-size: 10pt"> </span></td>
<td style="border-bottom: Black 1.5pt solid; font: 8pt Times New Roman, Times, Serif; width: 1%; text-align: left"><span style="font-size: 10pt">$</span></td><td style="border-bottom: Black 1.5pt solid; font: 8pt Times New Roman, Times, Serif; width: 9%; text-align: right"><span style="font-size: 10pt">16,830</span></td><td style="font: 8pt Times New Roman, Times, Serif; width: 1%; padding-bottom: 1.5pt; text-align: left"><span style="font-size: 10pt"> </span></td><td style="font: 8pt Times New Roman, Times, Serif; width: 1%; padding-bottom: 1.5pt"><span style="font-size: 10pt"> </span></td>
<td style="border-bottom: Black 1.5pt solid; font: 8pt Times New Roman, Times, Serif; width: 1%; text-align: left"><span style="font-size: 10pt">$</span></td><td style="border-bottom: Black 1.5pt solid; font: 8pt Times New Roman, Times, Serif; width: 9%; text-align: right"><span style="font-size: 10pt">16,830</span></td><td style="font: 8pt Times New Roman, Times, Serif; width: 1%; padding-bottom: 1.5pt; text-align: left"><span style="font-size: 10pt"> </span></td><td style="font: 8pt Times New Roman, Times, Serif; width: 1%; padding-bottom: 1.5pt"><span style="font-size: 10pt"> </span></td>
<td style="border-bottom: Black 1.5pt solid; font: 8pt Times New Roman, Times, Serif; width: 1%; text-align: left"><span style="font-size: 10pt">$</span></td><td style="border-bottom: Black 1.5pt solid; font: 8pt Times New Roman, Times, Serif; width: 9%; text-align: right"><span style="-sec-ix-hidden: hidden-fact-227; font-size: 10pt">—</span></td><td style="font: 8pt Times New Roman, Times, Serif; width: 1%; padding-bottom: 1.5pt; text-align: left"><span style="font-size: 10pt"> </span></td><td style="font: 8pt Times New Roman, Times, Serif; width: 1%; padding-bottom: 1.5pt"><span style="font-size: 10pt"> </span></td>
<td style="border-bottom: Black 1.5pt solid; font: 8pt Times New Roman, Times, Serif; width: 1%; text-align: left"><span style="font-size: 10pt">$</span></td><td style="border-bottom: Black 1.5pt solid; font: 8pt Times New Roman, Times, Serif; width: 9%; text-align: right"><span style="-sec-ix-hidden: hidden-fact-228; font-size: 10pt">—</span></td><td style="font: 8pt Times New Roman, Times, Serif; width: 1%; padding-bottom: 1.5pt; text-align: left"><span style="font-size: 10pt"> </span></td></tr>
<tr style="font: 8pt Times New Roman, Times, Serif; vertical-align: bottom; ">
<td style="font: 8pt Times New Roman, Times, Serif; text-align: left; padding-bottom: 4pt"><span style="font-size: 10pt">Total cash
equivalents</span></td><td style="font: 8pt Times New Roman, Times, Serif; padding-bottom: 4pt"><span style="font-size: 10pt"> </span></td>
<td style="border-bottom: Black 4pt double; font: 8pt Times New Roman, Times, Serif; text-align: left"><span style="font-size: 10pt">$</span></td><td style="border-bottom: Black 4pt double; font: 8pt Times New Roman, Times, Serif; text-align: right"><span style="font-size: 10pt">16,830</span></td><td style="font: 8pt Times New Roman, Times, Serif; padding-bottom: 4pt; text-align: left"><span style="font-size: 10pt"> </span></td><td style="font: 8pt Times New Roman, Times, Serif; padding-bottom: 4pt"><span style="font-size: 10pt"> </span></td>
<td style="border-bottom: Black 4pt double; font: 8pt Times New Roman, Times, Serif; text-align: left"><span style="font-size: 10pt">$</span></td><td style="border-bottom: Black 4pt double; font: 8pt Times New Roman, Times, Serif; text-align: right"><span style="font-size: 10pt">16,830</span></td><td style="font: 8pt Times New Roman, Times, Serif; padding-bottom: 4pt; text-align: left"><span style="font-size: 10pt"> </span></td><td style="font: 8pt Times New Roman, Times, Serif; padding-bottom: 4pt"><span style="font-size: 10pt"> </span></td>
<td style="border-bottom: Black 4pt double; font: 8pt Times New Roman, Times, Serif; text-align: left"><span style="font-size: 10pt">$</span></td><td style="border-bottom: Black 4pt double; font: 8pt Times New Roman, Times, Serif; text-align: right"><span style="-sec-ix-hidden: hidden-fact-229; font-size: 10pt">—</span></td><td style="font: 8pt Times New Roman, Times, Serif; padding-bottom: 4pt; text-align: left"><span style="font-size: 10pt"> </span></td><td style="font: 8pt Times New Roman, Times, Serif; padding-bottom: 4pt"><span style="font-size: 10pt"> </span></td>
<td style="border-bottom: Black 4pt double; font: 8pt Times New Roman, Times, Serif; text-align: left"><span style="font-size: 10pt">$</span></td><td style="border-bottom: Black 4pt double; font: 8pt Times New Roman, Times, Serif; text-align: right"><span style="-sec-ix-hidden: hidden-fact-230; font-size: 10pt">—</span></td><td style="font: 8pt Times New Roman, Times, Serif; padding-bottom: 4pt; text-align: left"><span style="font-size: 10pt"> </span></td></tr>
<tr style="font: 8pt Times New Roman, Times, Serif; vertical-align: bottom; background-color: rgb(204,238,255)">
<td style="font: 8pt Times New Roman, Times, Serif"><span style="font-size: 10pt"> </span></td><td style="font: 8pt Times New Roman, Times, Serif"><span style="font-size: 10pt"> </span></td>
<td style="font: 8pt Times New Roman, Times, Serif; text-align: left"><span style="font-size: 10pt"> </span></td><td style="font: 8pt Times New Roman, Times, Serif; text-align: right"><span style="font-size: 10pt"> </span></td><td style="font: 8pt Times New Roman, Times, Serif; text-align: left"><span style="font-size: 10pt"> </span></td><td style="font: 8pt Times New Roman, Times, Serif"><span style="font-size: 10pt"> </span></td>
<td style="font: 8pt Times New Roman, Times, Serif; text-align: left"><span style="font-size: 10pt"> </span></td><td style="font: 8pt Times New Roman, Times, Serif; text-align: right"><span style="font-size: 10pt"> </span></td><td style="font: 8pt Times New Roman, Times, Serif; text-align: left"><span style="font-size: 10pt"> </span></td><td style="font: 8pt Times New Roman, Times, Serif"><span style="font-size: 10pt"> </span></td>
<td style="font: 8pt Times New Roman, Times, Serif; text-align: left"><span style="font-size: 10pt"> </span></td><td style="font: 8pt Times New Roman, Times, Serif; text-align: right"><span style="font-size: 10pt"> </span></td><td style="font: 8pt Times New Roman, Times, Serif; text-align: left"><span style="font-size: 10pt"> </span></td><td style="font: 8pt Times New Roman, Times, Serif"><span style="font-size: 10pt"> </span></td>
<td style="font: 8pt Times New Roman, Times, Serif; text-align: left"><span style="font-size: 10pt"> </span></td><td style="font: 8pt Times New Roman, Times, Serif; text-align: right"><span style="font-size: 10pt"> </span></td><td style="font: 8pt Times New Roman, Times, Serif; text-align: left"><span style="font-size: 10pt"> </span></td></tr>
<tr style="font: 8pt Times New Roman, Times, Serif; vertical-align: bottom; ">
<td style="font: 8pt Times New Roman, Times, Serif; text-align: left"><span style="font-size: 10pt">Short-term investments:</span></td><td style="font: 8pt Times New Roman, Times, Serif"><span style="font-size: 10pt"> </span></td>
<td style="font: 8pt Times New Roman, Times, Serif; text-align: left"><span style="font-size: 10pt"> </span></td><td style="font: 8pt Times New Roman, Times, Serif; text-align: right"><span style="font-size: 10pt"> </span></td><td style="font: 8pt Times New Roman, Times, Serif; text-align: left"><span style="font-size: 10pt"> </span></td><td style="font: 8pt Times New Roman, Times, Serif"><span style="font-size: 10pt"> </span></td>
<td style="font: 8pt Times New Roman, Times, Serif; text-align: left"><span style="font-size: 10pt"> </span></td><td style="font: 8pt Times New Roman, Times, Serif; text-align: right"><span style="font-size: 10pt"> </span></td><td style="font: 8pt Times New Roman, Times, Serif; text-align: left"><span style="font-size: 10pt"> </span></td><td style="font: 8pt Times New Roman, Times, Serif"><span style="font-size: 10pt"> </span></td>
<td style="font: 8pt Times New Roman, Times, Serif; text-align: left"><span style="font-size: 10pt"> </span></td><td style="font: 8pt Times New Roman, Times, Serif; text-align: right"><span style="font-size: 10pt"> </span></td><td style="font: 8pt Times New Roman, Times, Serif; text-align: left"><span style="font-size: 10pt"> </span></td><td style="font: 8pt Times New Roman, Times, Serif"><span style="font-size: 10pt"> </span></td>
<td style="font: 8pt Times New Roman, Times, Serif; text-align: left"><span style="font-size: 10pt"> </span></td><td style="font: 8pt Times New Roman, Times, Serif; text-align: right"><span style="font-size: 10pt"> </span></td><td style="font: 8pt Times New Roman, Times, Serif; text-align: left"><span style="font-size: 10pt"> </span></td></tr>
<tr style="font: 8pt Times New Roman, Times, Serif; vertical-align: bottom; background-color: rgb(204,238,255)">
<td style="font: 8pt Times New Roman, Times, Serif; padding-left: 0.125in"><span style="font-size: 10pt">Certificates of deposit</span></td><td style="font: 8pt Times New Roman, Times, Serif"><span style="font-size: 10pt"> </span></td>
<td style="font: 8pt Times New Roman, Times, Serif; text-align: left"><span style="font-size: 10pt">$</span></td><td style="font: 8pt Times New Roman, Times, Serif; text-align: right"><span style="font-size: 10pt">250</span></td><td style="font: 8pt Times New Roman, Times, Serif; text-align: left"><span style="font-size: 10pt"> </span></td><td style="font: 8pt Times New Roman, Times, Serif"><span style="font-size: 10pt"> </span></td>
<td style="font: 8pt Times New Roman, Times, Serif; text-align: left"><span style="font-size: 10pt">$</span></td><td style="font: 8pt Times New Roman, Times, Serif; text-align: right"><span style="-sec-ix-hidden: hidden-fact-231; font-size: 10pt">—</span></td><td style="font: 8pt Times New Roman, Times, Serif; text-align: left"><span style="font-size: 10pt"> </span></td><td style="font: 8pt Times New Roman, Times, Serif"><span style="font-size: 10pt"> </span></td>
<td style="font: 8pt Times New Roman, Times, Serif; text-align: left"><span style="font-size: 10pt">$</span></td><td style="font: 8pt Times New Roman, Times, Serif; text-align: right"><span style="font-size: 10pt">250</span></td><td style="font: 8pt Times New Roman, Times, Serif; text-align: left"><span style="font-size: 10pt"> </span></td><td style="font: 8pt Times New Roman, Times, Serif"><span style="font-size: 10pt"> </span></td>
<td style="font: 8pt Times New Roman, Times, Serif; text-align: left"><span style="font-size: 10pt">$</span></td><td style="font: 8pt Times New Roman, Times, Serif; text-align: right"><span style="-sec-ix-hidden: hidden-fact-232; font-size: 10pt">—</span></td><td style="font: 8pt Times New Roman, Times, Serif; text-align: left"><span style="font-size: 10pt"> </span></td></tr>
<tr style="font: 8pt Times New Roman, Times, Serif; vertical-align: bottom; ">
<td style="font: 8pt Times New Roman, Times, Serif; padding-left: 0.125in; text-align: left"><span style="font-size: 10pt">Commercial
paper</span></td><td style="font: 8pt Times New Roman, Times, Serif"><span style="font-size: 10pt"> </span></td>
<td style="font: 8pt Times New Roman, Times, Serif; text-align: left"><span style="font-size: 10pt"> </span></td><td style="font: 8pt Times New Roman, Times, Serif; text-align: right"><span style="font-size: 10pt">2,210</span></td><td style="font: 8pt Times New Roman, Times, Serif; text-align: left"><span style="font-size: 10pt"> </span></td><td style="font: 8pt Times New Roman, Times, Serif"><span style="font-size: 10pt"> </span></td>
<td style="font: 8pt Times New Roman, Times, Serif; text-align: left"><span style="font-size: 10pt"> </span></td><td style="font: 8pt Times New Roman, Times, Serif; text-align: right"><span style="-sec-ix-hidden: hidden-fact-233; font-size: 10pt">—</span></td><td style="font: 8pt Times New Roman, Times, Serif; text-align: left"><span style="font-size: 10pt"> </span></td><td style="font: 8pt Times New Roman, Times, Serif"><span style="font-size: 10pt"> </span></td>
<td style="font: 8pt Times New Roman, Times, Serif; text-align: left"><span style="font-size: 10pt"> </span></td><td style="font: 8pt Times New Roman, Times, Serif; text-align: right"><span style="font-size: 10pt">2,210</span></td><td style="font: 8pt Times New Roman, Times, Serif; text-align: left"><span style="font-size: 10pt"> </span></td><td style="font: 8pt Times New Roman, Times, Serif"><span style="font-size: 10pt"> </span></td>
<td style="font: 8pt Times New Roman, Times, Serif; text-align: left"><span style="font-size: 10pt"> </span></td><td style="font: 8pt Times New Roman, Times, Serif; text-align: right"><span style="-sec-ix-hidden: hidden-fact-234; font-size: 10pt">—</span></td><td style="font: 8pt Times New Roman, Times, Serif; text-align: left"><span style="font-size: 10pt"> </span></td></tr>
<tr style="font: 8pt Times New Roman, Times, Serif; vertical-align: bottom; background-color: rgb(204,238,255)">
<td style="font: 8pt Times New Roman, Times, Serif; padding-left: 0.125in; text-align: left"><span style="font-size: 10pt">Corporate
notes</span></td><td style="font: 8pt Times New Roman, Times, Serif"><span style="font-size: 10pt"> </span></td>
<td style="font: 8pt Times New Roman, Times, Serif; text-align: left"><span style="font-size: 10pt"> </span></td><td style="font: 8pt Times New Roman, Times, Serif; text-align: right"><span style="font-size: 10pt">12,024</span></td><td style="font: 8pt Times New Roman, Times, Serif; text-align: left"><span style="font-size: 10pt"> </span></td><td style="font: 8pt Times New Roman, Times, Serif"><span style="font-size: 10pt"> </span></td>
<td style="font: 8pt Times New Roman, Times, Serif; text-align: left"><span style="font-size: 10pt"> </span></td><td style="font: 8pt Times New Roman, Times, Serif; text-align: right"><span style="-sec-ix-hidden: hidden-fact-235; font-size: 10pt">—</span></td><td style="font: 8pt Times New Roman, Times, Serif; text-align: left"><span style="font-size: 10pt"> </span></td><td style="font: 8pt Times New Roman, Times, Serif"><span style="font-size: 10pt"> </span></td>
<td style="font: 8pt Times New Roman, Times, Serif; text-align: left"><span style="font-size: 10pt"> </span></td><td style="font: 8pt Times New Roman, Times, Serif; text-align: right"><span style="font-size: 10pt">12,024</span></td><td style="font: 8pt Times New Roman, Times, Serif; text-align: left"><span style="font-size: 10pt"> </span></td><td style="font: 8pt Times New Roman, Times, Serif"><span style="font-size: 10pt"> </span></td>
<td style="font: 8pt Times New Roman, Times, Serif; text-align: left"><span style="font-size: 10pt"> </span></td><td style="font: 8pt Times New Roman, Times, Serif; text-align: right"><span style="-sec-ix-hidden: hidden-fact-236; font-size: 10pt">—</span></td><td style="font: 8pt Times New Roman, Times, Serif; text-align: left"><span style="font-size: 10pt"> </span></td></tr>
<tr style="font: 8pt Times New Roman, Times, Serif; vertical-align: bottom; ">
<td style="font: 8pt Times New Roman, Times, Serif; padding-left: 0.125in; text-align: left; padding-bottom: 1.5pt"><span style="font-size: 10pt">Municipal
bonds</span></td><td style="font: 8pt Times New Roman, Times, Serif; padding-bottom: 1.5pt"><span style="font-size: 10pt"> </span></td>
<td style="border-bottom: Black 1.5pt solid; font: 8pt Times New Roman, Times, Serif; text-align: left"><span style="font-size: 10pt"> </span></td><td style="border-bottom: Black 1.5pt solid; font: 8pt Times New Roman, Times, Serif; text-align: right"><span style="font-size: 10pt">1,437</span></td><td style="font: 8pt Times New Roman, Times, Serif; padding-bottom: 1.5pt; text-align: left"><span style="font-size: 10pt"> </span></td><td style="font: 8pt Times New Roman, Times, Serif; padding-bottom: 1.5pt"><span style="font-size: 10pt"> </span></td>
<td style="border-bottom: Black 1.5pt solid; font: 8pt Times New Roman, Times, Serif; text-align: left"><span style="font-size: 10pt"> </span></td><td style="border-bottom: Black 1.5pt solid; font: 8pt Times New Roman, Times, Serif; text-align: right"><span style="-sec-ix-hidden: hidden-fact-237; font-size: 10pt">—</span></td><td style="font: 8pt Times New Roman, Times, Serif; padding-bottom: 1.5pt; text-align: left"><span style="font-size: 10pt"> </span></td><td style="font: 8pt Times New Roman, Times, Serif; padding-bottom: 1.5pt"><span style="font-size: 10pt"> </span></td>
<td style="border-bottom: Black 1.5pt solid; font: 8pt Times New Roman, Times, Serif; text-align: left"><span style="font-size: 10pt"> </span></td><td style="border-bottom: Black 1.5pt solid; font: 8pt Times New Roman, Times, Serif; text-align: right"><span style="font-size: 10pt">1,437</span></td><td style="font: 8pt Times New Roman, Times, Serif; padding-bottom: 1.5pt; text-align: left"><span style="font-size: 10pt"> </span></td><td style="font: 8pt Times New Roman, Times, Serif; padding-bottom: 1.5pt"><span style="font-size: 10pt"> </span></td>
<td style="border-bottom: Black 1.5pt solid; font: 8pt Times New Roman, Times, Serif; text-align: left"><span style="font-size: 10pt"> </span></td><td style="border-bottom: Black 1.5pt solid; font: 8pt Times New Roman, Times, Serif; text-align: right"><span style="-sec-ix-hidden: hidden-fact-238; font-size: 10pt">—</span></td><td style="font: 8pt Times New Roman, Times, Serif; padding-bottom: 1.5pt; text-align: left"><span style="font-size: 10pt"> </span></td></tr>
<tr style="font: 8pt Times New Roman, Times, Serif; vertical-align: bottom; background-color: rgb(204,238,255)">
<td style="font: 8pt Times New Roman, Times, Serif; text-align: left; padding-bottom: 4pt"><span style="font-size: 10pt">Total short-term
investments</span></td><td style="font: 8pt Times New Roman, Times, Serif; padding-bottom: 4pt"><span style="font-size: 10pt"> </span></td>
<td style="border-bottom: Black 4pt double; font: 8pt Times New Roman, Times, Serif; text-align: left"><span style="font-size: 10pt">$</span></td><td style="border-bottom: Black 4pt double; font: 8pt Times New Roman, Times, Serif; text-align: right"><span style="font-size: 10pt">15,921</span></td><td style="font: 8pt Times New Roman, Times, Serif; padding-bottom: 4pt; text-align: left"><span style="font-size: 10pt"> </span></td><td style="font: 8pt Times New Roman, Times, Serif; padding-bottom: 4pt"><span style="font-size: 10pt"> </span></td>
<td style="border-bottom: Black 4pt double; font: 8pt Times New Roman, Times, Serif; text-align: left"><span style="font-size: 10pt">$</span></td><td style="border-bottom: Black 4pt double; font: 8pt Times New Roman, Times, Serif; text-align: right"><span style="-sec-ix-hidden: hidden-fact-239; font-size: 10pt">—</span></td><td style="font: 8pt Times New Roman, Times, Serif; padding-bottom: 4pt; text-align: left"><span style="font-size: 10pt"> </span></td><td style="font: 8pt Times New Roman, Times, Serif; padding-bottom: 4pt"><span style="font-size: 10pt"> </span></td>
<td style="border-bottom: Black 4pt double; font: 8pt Times New Roman, Times, Serif; text-align: left"><span style="font-size: 10pt">$</span></td><td style="border-bottom: Black 4pt double; font: 8pt Times New Roman, Times, Serif; text-align: right"><span style="font-size: 10pt">15,921</span></td><td style="font: 8pt Times New Roman, Times, Serif; padding-bottom: 4pt; text-align: left"><span style="font-size: 10pt"> </span></td><td style="font: 8pt Times New Roman, Times, Serif; padding-bottom: 4pt"><span style="font-size: 10pt"> </span></td>
<td style="border-bottom: Black 4pt double; font: 8pt Times New Roman, Times, Serif; text-align: left"><span style="font-size: 10pt">$</span></td><td style="border-bottom: Black 4pt double; font: 8pt Times New Roman, Times, Serif; text-align: right"><span style="-sec-ix-hidden: hidden-fact-240; font-size: 10pt">—</span></td><td style="font: 8pt Times New Roman, Times, Serif; padding-bottom: 4pt; text-align: left"><span style="font-size: 10pt"> </span></td></tr>
</table>
<table cellpadding="0" cellspacing="0" style="font: 8pt Times New Roman, Times, Serif; border-collapse: collapse; width: 100%">
<tr style="font: 8pt Times New Roman, Times, Serif; vertical-align: bottom">
<td style="font: 8pt Times New Roman, Times, Serif"><span style="font-size: 10pt"> </span></td><td style="font: bold 8pt Times New Roman, Times, Serif; padding-bottom: 1.5pt"><span style="font-size: 10pt"> </span></td>
<td colspan="14" style="border-bottom: Black 1.5pt solid; font: bold 8pt Times New Roman, Times, Serif; text-align: center"><span style="font-size: 10pt">June
30, 2022</span></td><td style="font: bold 8pt Times New Roman, Times, Serif; padding-bottom: 1.5pt"><span style="font-size: 10pt"> </span></td></tr>
<tr style="font: 8pt Times New Roman, Times, Serif; vertical-align: bottom">
<td style="font: 8pt Times New Roman, Times, Serif"><span style="font-size: 10pt"> </span></td><td style="font: bold 8pt Times New Roman, Times, Serif; padding-bottom: 1.5pt"><span style="font-size: 10pt"> </span></td>
<td colspan="2" style="border-bottom: Black 1.5pt solid; font: bold 8pt Times New Roman, Times, Serif; text-align: center"><span style="font-size: 10pt">Fair
Value</span></td><td style="font: bold 8pt Times New Roman, Times, Serif; padding-bottom: 1.5pt"><span style="font-size: 10pt"> </span></td><td style="font: bold 8pt Times New Roman, Times, Serif; padding-bottom: 1.5pt"><span style="font-size: 10pt"> </span></td>
<td colspan="2" style="border-bottom: Black 1.5pt solid; font: bold 8pt Times New Roman, Times, Serif; text-align: center"><span style="font-size: 10pt">Level
1</span></td><td style="font: bold 8pt Times New Roman, Times, Serif; padding-bottom: 1.5pt"><span style="font-size: 10pt"> </span></td><td style="font: bold 8pt Times New Roman, Times, Serif; padding-bottom: 1.5pt"><span style="font-size: 10pt"> </span></td>
<td colspan="2" style="border-bottom: Black 1.5pt solid; font: bold 8pt Times New Roman, Times, Serif; text-align: center"><span style="font-size: 10pt">Level
2</span></td><td style="font: bold 8pt Times New Roman, Times, Serif; padding-bottom: 1.5pt"><span style="font-size: 10pt"> </span></td><td style="font: bold 8pt Times New Roman, Times, Serif; padding-bottom: 1.5pt"><span style="font-size: 10pt"> </span></td>
<td colspan="2" style="border-bottom: Black 1.5pt solid; font: bold 8pt Times New Roman, Times, Serif; text-align: center"><span style="font-size: 10pt">Level
3</span></td><td style="font: bold 8pt Times New Roman, Times, Serif; padding-bottom: 1.5pt"><span style="font-size: 10pt"> </span></td></tr>
<tr style="font: 8pt Times New Roman, Times, Serif; vertical-align: bottom">
<td style="font: 8pt Times New Roman, Times, Serif"><span style="font-size: 10pt"> </span></td><td style="font: 8pt Times New Roman, Times, Serif"><span style="font-size: 10pt"> </span></td>
<td colspan="2" style="font: 8pt Times New Roman, Times, Serif"><span style="font-size: 10pt"> </span></td><td style="font: 8pt Times New Roman, Times, Serif"><span style="font-size: 10pt"> </span></td><td style="font: 8pt Times New Roman, Times, Serif"><span style="font-size: 10pt"> </span></td>
<td colspan="2" style="font: 8pt Times New Roman, Times, Serif"><span style="font-size: 10pt"> </span></td><td style="font: 8pt Times New Roman, Times, Serif"><span style="font-size: 10pt"> </span></td><td style="font: 8pt Times New Roman, Times, Serif"><span style="font-size: 10pt"> </span></td>
<td colspan="2" style="font: 8pt Times New Roman, Times, Serif"><span style="font-size: 10pt"> </span></td><td style="font: 8pt Times New Roman, Times, Serif"><span style="font-size: 10pt"> </span></td><td style="font: 8pt Times New Roman, Times, Serif"><span style="font-size: 10pt"> </span></td>
<td colspan="2" style="font: 8pt Times New Roman, Times, Serif"><span style="font-size: 10pt"> </span></td><td style="font: 8pt Times New Roman, Times, Serif"><span style="font-size: 10pt"> </span></td></tr>
<tr style="font: 8pt Times New Roman, Times, Serif; vertical-align: bottom">
<td style="font: 8pt Times New Roman, Times, Serif"><span style="font-size: 10pt">Cash equivalents:</span></td><td style="font: 8pt Times New Roman, Times, Serif"><span style="font-size: 10pt"> </span></td>
<td colspan="2" style="font: 8pt Times New Roman, Times, Serif"><span style="font-size: 10pt"> </span></td><td style="font: 8pt Times New Roman, Times, Serif"><span style="font-size: 10pt"> </span></td><td style="font: 8pt Times New Roman, Times, Serif"><span style="font-size: 10pt"> </span></td>
<td colspan="2" style="font: 8pt Times New Roman, Times, Serif"><span style="font-size: 10pt"> </span></td><td style="font: 8pt Times New Roman, Times, Serif"><span style="font-size: 10pt"> </span></td><td style="font: 8pt Times New Roman, Times, Serif"><span style="font-size: 10pt"> </span></td>
<td colspan="2" style="font: 8pt Times New Roman, Times, Serif"><span style="font-size: 10pt"> </span></td><td style="font: 8pt Times New Roman, Times, Serif"><span style="font-size: 10pt"> </span></td><td style="font: 8pt Times New Roman, Times, Serif"><span style="font-size: 10pt"> </span></td>
<td colspan="2" style="font: 8pt Times New Roman, Times, Serif"><span style="font-size: 10pt"> </span></td><td style="font: 8pt Times New Roman, Times, Serif"><span style="font-size: 10pt"> </span></td></tr>
<tr style="font: 8pt Times New Roman, Times, Serif; vertical-align: bottom; background-color: rgb(204,238,255)">
<td style="font: 8pt Times New Roman, Times, Serif; padding-left: 0.125in; width: 52%; text-align: left; padding-bottom: 1.5pt"><span style="font-size: 10pt">Money
market funds</span></td><td style="font: 8pt Times New Roman, Times, Serif; width: 1%; padding-bottom: 1.5pt"><span style="font-size: 10pt"> </span></td>
<td style="border-bottom: Black 1.5pt solid; font: 8pt Times New Roman, Times, Serif; width: 1%; text-align: left"><span style="font-size: 10pt">$</span></td><td style="border-bottom: Black 1.5pt solid; font: 8pt Times New Roman, Times, Serif; width: 9%; text-align: right"><span style="font-size: 10pt">15,620</span></td><td style="font: 8pt Times New Roman, Times, Serif; width: 1%; padding-bottom: 1.5pt; text-align: left"><span style="font-size: 10pt"> </span></td><td style="font: 8pt Times New Roman, Times, Serif; width: 1%; padding-bottom: 1.5pt"><span style="font-size: 10pt"> </span></td>
<td style="border-bottom: Black 1.5pt solid; font: 8pt Times New Roman, Times, Serif; width: 1%; text-align: left"><span style="font-size: 10pt">$</span></td><td style="border-bottom: Black 1.5pt solid; font: 8pt Times New Roman, Times, Serif; width: 9%; text-align: right"><span style="font-size: 10pt">15,620</span></td><td style="font: 8pt Times New Roman, Times, Serif; width: 1%; padding-bottom: 1.5pt; text-align: left"><span style="font-size: 10pt"> </span></td><td style="font: 8pt Times New Roman, Times, Serif; width: 1%; padding-bottom: 1.5pt"><span style="font-size: 10pt"> </span></td>
<td style="border-bottom: Black 1.5pt solid; font: 8pt Times New Roman, Times, Serif; width: 1%; text-align: left"><span style="font-size: 10pt">$</span></td><td style="border-bottom: Black 1.5pt solid; font: 8pt Times New Roman, Times, Serif; width: 9%; text-align: right"><span style="-sec-ix-hidden: hidden-fact-211; font-size: 10pt">—</span></td><td style="font: 8pt Times New Roman, Times, Serif; width: 1%; padding-bottom: 1.5pt; text-align: left"><span style="font-size: 10pt"> </span></td><td style="font: 8pt Times New Roman, Times, Serif; width: 1%; padding-bottom: 1.5pt"><span style="font-size: 10pt"> </span></td>
<td style="border-bottom: Black 1.5pt solid; font: 8pt Times New Roman, Times, Serif; width: 1%; text-align: left"><span style="font-size: 10pt">$</span></td><td style="border-bottom: Black 1.5pt solid; font: 8pt Times New Roman, Times, Serif; width: 9%; text-align: right"><span style="-sec-ix-hidden: hidden-fact-212; font-size: 10pt">—</span></td><td style="font: 8pt Times New Roman, Times, Serif; width: 1%; padding-bottom: 1.5pt; text-align: left"><span style="font-size: 10pt"> </span></td></tr>
<tr style="font: 8pt Times New Roman, Times, Serif; vertical-align: bottom; ">
<td style="font: 8pt Times New Roman, Times, Serif; text-align: left; padding-bottom: 4pt"><span style="font-size: 10pt">Total cash
equivalents</span></td><td style="font: 8pt Times New Roman, Times, Serif; padding-bottom: 4pt"><span style="font-size: 10pt"> </span></td>
<td style="border-bottom: Black 4pt double; font: 8pt Times New Roman, Times, Serif; text-align: left"><span style="font-size: 10pt">$</span></td><td style="border-bottom: Black 4pt double; font: 8pt Times New Roman, Times, Serif; text-align: right"><span style="font-size: 10pt">15,620</span></td><td style="font: 8pt Times New Roman, Times, Serif; padding-bottom: 4pt; text-align: left"><span style="font-size: 10pt"> </span></td><td style="font: 8pt Times New Roman, Times, Serif; padding-bottom: 4pt"><span style="font-size: 10pt"> </span></td>
<td style="border-bottom: Black 4pt double; font: 8pt Times New Roman, Times, Serif; text-align: left"><span style="font-size: 10pt">$</span></td><td style="border-bottom: Black 4pt double; font: 8pt Times New Roman, Times, Serif; text-align: right"><span style="font-size: 10pt">15,620</span></td><td style="font: 8pt Times New Roman, Times, Serif; padding-bottom: 4pt; text-align: left"><span style="font-size: 10pt"> </span></td><td style="font: 8pt Times New Roman, Times, Serif; padding-bottom: 4pt"><span style="font-size: 10pt"> </span></td>
<td style="border-bottom: Black 4pt double; font: 8pt Times New Roman, Times, Serif; text-align: left"><span style="font-size: 10pt">$</span></td><td style="border-bottom: Black 4pt double; font: 8pt Times New Roman, Times, Serif; text-align: right"><span style="-sec-ix-hidden: hidden-fact-213; font-size: 10pt">—</span></td><td style="font: 8pt Times New Roman, Times, Serif; padding-bottom: 4pt; text-align: left"><span style="font-size: 10pt"> </span></td><td style="font: 8pt Times New Roman, Times, Serif; padding-bottom: 4pt"><span style="font-size: 10pt"> </span></td>
<td style="border-bottom: Black 4pt double; font: 8pt Times New Roman, Times, Serif; text-align: left"><span style="font-size: 10pt">$</span></td><td style="border-bottom: Black 4pt double; font: 8pt Times New Roman, Times, Serif; text-align: right"><span style="-sec-ix-hidden: hidden-fact-214; font-size: 10pt">—</span></td><td style="font: 8pt Times New Roman, Times, Serif; padding-bottom: 4pt; text-align: left"><span style="font-size: 10pt"> </span></td></tr>
<tr style="font: 8pt Times New Roman, Times, Serif; vertical-align: bottom; background-color: rgb(204,238,255)">
<td style="font: 8pt Times New Roman, Times, Serif"><span style="font-size: 10pt"> </span></td><td style="font: 8pt Times New Roman, Times, Serif"><span style="font-size: 10pt"> </span></td>
<td style="font: 8pt Times New Roman, Times, Serif; text-align: left"><span style="font-size: 10pt"> </span></td><td style="font: 8pt Times New Roman, Times, Serif; text-align: right"><span style="font-size: 10pt"> </span></td><td style="font: 8pt Times New Roman, Times, Serif; text-align: left"><span style="font-size: 10pt"> </span></td><td style="font: 8pt Times New Roman, Times, Serif"><span style="font-size: 10pt"> </span></td>
<td style="font: 8pt Times New Roman, Times, Serif; text-align: left"><span style="font-size: 10pt"> </span></td><td style="font: 8pt Times New Roman, Times, Serif; text-align: right"><span style="font-size: 10pt"> </span></td><td style="font: 8pt Times New Roman, Times, Serif; text-align: left"><span style="font-size: 10pt"> </span></td><td style="font: 8pt Times New Roman, Times, Serif"><span style="font-size: 10pt"> </span></td>
<td style="font: 8pt Times New Roman, Times, Serif; text-align: left"><span style="font-size: 10pt"> </span></td><td style="font: 8pt Times New Roman, Times, Serif; text-align: right"><span style="font-size: 10pt"> </span></td><td style="font: 8pt Times New Roman, Times, Serif; text-align: left"><span style="font-size: 10pt"> </span></td><td style="font: 8pt Times New Roman, Times, Serif"><span style="font-size: 10pt"> </span></td>
<td style="font: 8pt Times New Roman, Times, Serif; text-align: left"><span style="font-size: 10pt"> </span></td><td style="font: 8pt Times New Roman, Times, Serif; text-align: right"><span style="font-size: 10pt"> </span></td><td style="font: 8pt Times New Roman, Times, Serif; text-align: left"><span style="font-size: 10pt"> </span></td></tr>
<tr style="font: 8pt Times New Roman, Times, Serif; vertical-align: bottom; ">
<td style="font: 8pt Times New Roman, Times, Serif; text-align: left"><span style="font-size: 10pt">Short-term investments:</span></td><td style="font: 8pt Times New Roman, Times, Serif"><span style="font-size: 10pt"> </span></td>
<td style="font: 8pt Times New Roman, Times, Serif; text-align: left"><span style="font-size: 10pt"> </span></td><td style="font: 8pt Times New Roman, Times, Serif; text-align: right"><span style="font-size: 10pt"> </span></td><td style="font: 8pt Times New Roman, Times, Serif; text-align: left"><span style="font-size: 10pt"> </span></td><td style="font: 8pt Times New Roman, Times, Serif"><span style="font-size: 10pt"> </span></td>
<td style="font: 8pt Times New Roman, Times, Serif; text-align: left"><span style="font-size: 10pt"> </span></td><td style="font: 8pt Times New Roman, Times, Serif; text-align: right"><span style="font-size: 10pt"> </span></td><td style="font: 8pt Times New Roman, Times, Serif; text-align: left"><span style="font-size: 10pt"> </span></td><td style="font: 8pt Times New Roman, Times, Serif"><span style="font-size: 10pt"> </span></td>
<td style="font: 8pt Times New Roman, Times, Serif; text-align: left"><span style="font-size: 10pt"> </span></td><td style="font: 8pt Times New Roman, Times, Serif; text-align: right"><span style="font-size: 10pt"> </span></td><td style="font: 8pt Times New Roman, Times, Serif; text-align: left"><span style="font-size: 10pt"> </span></td><td style="font: 8pt Times New Roman, Times, Serif"><span style="font-size: 10pt"> </span></td>
<td style="font: 8pt Times New Roman, Times, Serif; text-align: left"><span style="font-size: 10pt"> </span></td><td style="font: 8pt Times New Roman, Times, Serif; text-align: right"><span style="font-size: 10pt"> </span></td><td style="font: 8pt Times New Roman, Times, Serif; text-align: left"><span style="font-size: 10pt"> </span></td></tr>
<tr style="font: 8pt Times New Roman, Times, Serif; vertical-align: bottom; background-color: rgb(204,238,255)">
<td style="font: 8pt Times New Roman, Times, Serif; padding-left: 0.125in"><span style="font-size: 10pt">Certificates of deposit</span></td><td style="font: 8pt Times New Roman, Times, Serif"><span style="font-size: 10pt"> </span></td>
<td style="font: 8pt Times New Roman, Times, Serif; text-align: left"><span style="font-size: 10pt">$</span></td><td style="font: 8pt Times New Roman, Times, Serif; text-align: right"><span style="font-size: 10pt">249</span></td><td style="font: 8pt Times New Roman, Times, Serif; text-align: left"><span style="font-size: 10pt"> </span></td><td style="font: 8pt Times New Roman, Times, Serif"><span style="font-size: 10pt"> </span></td>
<td style="font: 8pt Times New Roman, Times, Serif; text-align: left"><span style="font-size: 10pt">$</span></td><td style="font: 8pt Times New Roman, Times, Serif; text-align: right"><span style="-sec-ix-hidden: hidden-fact-215; font-size: 10pt">—</span></td><td style="font: 8pt Times New Roman, Times, Serif; text-align: left"><span style="font-size: 10pt"> </span></td><td style="font: 8pt Times New Roman, Times, Serif"><span style="font-size: 10pt"> </span></td>
<td style="font: 8pt Times New Roman, Times, Serif; text-align: left"><span style="font-size: 10pt">$</span></td><td style="font: 8pt Times New Roman, Times, Serif; text-align: right"><span style="font-size: 10pt">249</span></td><td style="font: 8pt Times New Roman, Times, Serif; text-align: left"><span style="font-size: 10pt"> </span></td><td style="font: 8pt Times New Roman, Times, Serif"><span style="font-size: 10pt"> </span></td>
<td style="font: 8pt Times New Roman, Times, Serif; text-align: left"><span style="font-size: 10pt">$</span></td><td style="font: 8pt Times New Roman, Times, Serif; text-align: right"><span style="-sec-ix-hidden: hidden-fact-216; font-size: 10pt">—</span></td><td style="font: 8pt Times New Roman, Times, Serif; text-align: left"><span style="font-size: 10pt"> </span></td></tr>
<tr style="font: 8pt Times New Roman, Times, Serif; vertical-align: bottom; ">
<td style="font: 8pt Times New Roman, Times, Serif; padding-left: 0.125in; text-align: left"><span style="font-size: 10pt">Commercial
paper</span></td><td style="font: 8pt Times New Roman, Times, Serif"><span style="font-size: 10pt"> </span></td>
<td style="font: 8pt Times New Roman, Times, Serif; text-align: left"><span style="font-size: 10pt"> </span></td><td style="font: 8pt Times New Roman, Times, Serif; text-align: right"><span style="font-size: 10pt">550</span></td><td style="font: 8pt Times New Roman, Times, Serif; text-align: left"><span style="font-size: 10pt"> </span></td><td style="font: 8pt Times New Roman, Times, Serif"><span style="font-size: 10pt"> </span></td>
<td style="font: 8pt Times New Roman, Times, Serif; text-align: left"><span style="font-size: 10pt"> </span></td><td style="font: 8pt Times New Roman, Times, Serif; text-align: right"><span style="-sec-ix-hidden: hidden-fact-217; font-size: 10pt">—</span></td><td style="font: 8pt Times New Roman, Times, Serif; text-align: left"><span style="font-size: 10pt"> </span></td><td style="font: 8pt Times New Roman, Times, Serif"><span style="font-size: 10pt"> </span></td>
<td style="font: 8pt Times New Roman, Times, Serif; text-align: left"><span style="font-size: 10pt"> </span></td><td style="font: 8pt Times New Roman, Times, Serif; text-align: right"><span style="font-size: 10pt">550</span></td><td style="font: 8pt Times New Roman, Times, Serif; text-align: left"><span style="font-size: 10pt"> </span></td><td style="font: 8pt Times New Roman, Times, Serif"><span style="font-size: 10pt"> </span></td>
<td style="font: 8pt Times New Roman, Times, Serif; text-align: left"><span style="font-size: 10pt"> </span></td><td style="font: 8pt Times New Roman, Times, Serif; text-align: right"><span style="-sec-ix-hidden: hidden-fact-218; font-size: 10pt">—</span></td><td style="font: 8pt Times New Roman, Times, Serif; text-align: left"><span style="font-size: 10pt"> </span></td></tr>
<tr style="font: 8pt Times New Roman, Times, Serif; vertical-align: bottom; background-color: rgb(204,238,255)">
<td style="font: 8pt Times New Roman, Times, Serif; padding-left: 0.125in; text-align: left"><span style="font-size: 10pt">Corporate
notes</span></td><td style="font: 8pt Times New Roman, Times, Serif"><span style="font-size: 10pt"> </span></td>
<td style="font: 8pt Times New Roman, Times, Serif; text-align: left"><span style="font-size: 10pt"> </span></td><td style="font: 8pt Times New Roman, Times, Serif; text-align: right"><span style="font-size: 10pt">3,415</span></td><td style="font: 8pt Times New Roman, Times, Serif; text-align: left"><span style="font-size: 10pt"> </span></td><td style="font: 8pt Times New Roman, Times, Serif"><span style="font-size: 10pt"> </span></td>
<td style="font: 8pt Times New Roman, Times, Serif; text-align: left"><span style="font-size: 10pt"> </span></td><td style="font: 8pt Times New Roman, Times, Serif; text-align: right"><span style="-sec-ix-hidden: hidden-fact-219; font-size: 10pt">—</span></td><td style="font: 8pt Times New Roman, Times, Serif; text-align: left"><span style="font-size: 10pt"> </span></td><td style="font: 8pt Times New Roman, Times, Serif"><span style="font-size: 10pt"> </span></td>
<td style="font: 8pt Times New Roman, Times, Serif; text-align: left"><span style="font-size: 10pt"> </span></td><td style="font: 8pt Times New Roman, Times, Serif; text-align: right"><span style="font-size: 10pt">3,415</span></td><td style="font: 8pt Times New Roman, Times, Serif; text-align: left"><span style="font-size: 10pt"> </span></td><td style="font: 8pt Times New Roman, Times, Serif"><span style="font-size: 10pt"> </span></td>
<td style="font: 8pt Times New Roman, Times, Serif; text-align: left"><span style="font-size: 10pt"> </span></td><td style="font: 8pt Times New Roman, Times, Serif; text-align: right"><span style="-sec-ix-hidden: hidden-fact-220; font-size: 10pt">—</span></td><td style="font: 8pt Times New Roman, Times, Serif; text-align: left"><span style="font-size: 10pt"> </span></td></tr>
<tr style="font: 8pt Times New Roman, Times, Serif; vertical-align: bottom; ">
<td style="font: 8pt Times New Roman, Times, Serif; padding-left: 0.125in; text-align: left; padding-bottom: 1.5pt"><span style="font-size: 10pt">Municipal
bonds</span></td><td style="font: 8pt Times New Roman, Times, Serif; padding-bottom: 1.5pt"><span style="font-size: 10pt"> </span></td>
<td style="border-bottom: Black 1.5pt solid; font: 8pt Times New Roman, Times, Serif; text-align: left"><span style="font-size: 10pt"> </span></td><td style="border-bottom: Black 1.5pt solid; font: 8pt Times New Roman, Times, Serif; text-align: right"><span style="-sec-ix-hidden: hidden-fact-221; font-size: 10pt">—</span></td><td style="font: 8pt Times New Roman, Times, Serif; padding-bottom: 1.5pt; text-align: left"><span style="font-size: 10pt"> </span></td><td style="font: 8pt Times New Roman, Times, Serif; padding-bottom: 1.5pt"><span style="font-size: 10pt"> </span></td>
<td style="border-bottom: Black 1.5pt solid; font: 8pt Times New Roman, Times, Serif; text-align: left"><span style="font-size: 10pt"> </span></td><td style="border-bottom: Black 1.5pt solid; font: 8pt Times New Roman, Times, Serif; text-align: right"><span style="-sec-ix-hidden: hidden-fact-222; font-size: 10pt">—</span></td><td style="font: 8pt Times New Roman, Times, Serif; padding-bottom: 1.5pt; text-align: left"><span style="font-size: 10pt"> </span></td><td style="font: 8pt Times New Roman, Times, Serif; padding-bottom: 1.5pt"><span style="font-size: 10pt"> </span></td>
<td style="border-bottom: Black 1.5pt solid; font: 8pt Times New Roman, Times, Serif; text-align: left"><span style="font-size: 10pt"> </span></td><td style="border-bottom: Black 1.5pt solid; font: 8pt Times New Roman, Times, Serif; text-align: right"><span style="-sec-ix-hidden: hidden-fact-223; font-size: 10pt">—</span></td><td style="font: 8pt Times New Roman, Times, Serif; padding-bottom: 1.5pt; text-align: left"><span style="font-size: 10pt"> </span></td><td style="font: 8pt Times New Roman, Times, Serif; padding-bottom: 1.5pt"><span style="font-size: 10pt"> </span></td>
<td style="border-bottom: Black 1.5pt solid; font: 8pt Times New Roman, Times, Serif; text-align: left"><span style="font-size: 10pt"> </span></td><td style="border-bottom: Black 1.5pt solid; font: 8pt Times New Roman, Times, Serif; text-align: right"><span style="-sec-ix-hidden: hidden-fact-224; font-size: 10pt">—</span></td><td style="font: 8pt Times New Roman, Times, Serif; padding-bottom: 1.5pt; text-align: left"><span style="font-size: 10pt"> </span></td></tr>
<tr style="font: 8pt Times New Roman, Times, Serif; vertical-align: bottom; background-color: rgb(204,238,255)">
<td style="font: 8pt Times New Roman, Times, Serif; text-align: left; padding-bottom: 4pt"><span style="font-size: 10pt">Total short-term
investments</span></td><td style="font: 8pt Times New Roman, Times, Serif; padding-bottom: 4pt"><span style="font-size: 10pt"> </span></td>
<td style="border-bottom: Black 4pt double; font: 8pt Times New Roman, Times, Serif; text-align: left"><span style="font-size: 10pt">$</span></td><td style="border-bottom: Black 4pt double; font: 8pt Times New Roman, Times, Serif; text-align: right"><span style="font-size: 10pt">4,214</span></td><td style="font: 8pt Times New Roman, Times, Serif; padding-bottom: 4pt; text-align: left"><span style="font-size: 10pt"> </span></td><td style="font: 8pt Times New Roman, Times, Serif; padding-bottom: 4pt"><span style="font-size: 10pt"> </span></td>
<td style="border-bottom: Black 4pt double; font: 8pt Times New Roman, Times, Serif; text-align: left"><span style="font-size: 10pt">$</span></td><td style="border-bottom: Black 4pt double; font: 8pt Times New Roman, Times, Serif; text-align: right"><span style="-sec-ix-hidden: hidden-fact-225; font-size: 10pt">—</span></td><td style="font: 8pt Times New Roman, Times, Serif; padding-bottom: 4pt; text-align: left"><span style="font-size: 10pt"> </span></td><td style="font: 8pt Times New Roman, Times, Serif; padding-bottom: 4pt"><span style="font-size: 10pt"> </span></td>
<td style="border-bottom: Black 4pt double; font: 8pt Times New Roman, Times, Serif; text-align: left"><span style="font-size: 10pt">$</span></td><td style="border-bottom: Black 4pt double; font: 8pt Times New Roman, Times, Serif; text-align: right"><span style="font-size: 10pt">4,214</span></td><td style="font: 8pt Times New Roman, Times, Serif; padding-bottom: 4pt; text-align: left"><span style="font-size: 10pt"> </span></td><td style="font: 8pt Times New Roman, Times, Serif; padding-bottom: 4pt"><span style="font-size: 10pt"> </span></td>
<td style="border-bottom: Black 4pt double; font: 8pt Times New Roman, Times, Serif; text-align: left"><span style="font-size: 10pt">$</span></td><td style="border-bottom: Black 4pt double; font: 8pt Times New Roman, Times, Serif; text-align: right"><span style="-sec-ix-hidden: hidden-fact-226; font-size: 10pt">—</span></td><td style="font: 8pt Times New Roman, Times, Serif; padding-bottom: 4pt; text-align: left"><span style="font-size: 10pt"> </span></td></tr>
</table><p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify"><b><i> </i></b></p><table cellpadding="0" cellspacing="0" style="font: 8pt Times New Roman, Times, Serif; border-collapse: collapse; width: 100%">
<tr style="font: 8pt Times New Roman, Times, Serif; vertical-align: bottom">
<td style="font: 8pt Times New Roman, Times, Serif"><span style="font-size: 10pt"> </span></td><td style="font: bold 8pt Times New Roman, Times, Serif; padding-bottom: 1.5pt"><span style="font-size: 10pt"> </span></td>
<td colspan="14" style="border-bottom: Black 1.5pt solid; font: bold 8pt Times New Roman, Times, Serif; text-align: center"><span style="font-size: 10pt">December
31, 2021</span></td><td style="font: bold 8pt Times New Roman, Times, Serif; padding-bottom: 1.5pt"><span style="font-size: 10pt"> </span></td></tr>
<tr style="font: 8pt Times New Roman, Times, Serif; vertical-align: bottom">
<td style="font: 8pt Times New Roman, Times, Serif"><span style="font-size: 10pt"> </span></td><td style="font: bold 8pt Times New Roman, Times, Serif; padding-bottom: 1.5pt"><span style="font-size: 10pt"> </span></td>
<td colspan="2" style="border-bottom: Black 1.5pt solid; font: bold 8pt Times New Roman, Times, Serif; text-align: center"><span style="font-size: 10pt">Fair
Value</span></td><td style="font: bold 8pt Times New Roman, Times, Serif; padding-bottom: 1.5pt"><span style="font-size: 10pt"> </span></td><td style="font: bold 8pt Times New Roman, Times, Serif; padding-bottom: 1.5pt"><span style="font-size: 10pt"> </span></td>
<td colspan="2" style="border-bottom: Black 1.5pt solid; font: bold 8pt Times New Roman, Times, Serif; text-align: center"><span style="font-size: 10pt">Level
1</span></td><td style="font: bold 8pt Times New Roman, Times, Serif; padding-bottom: 1.5pt"><span style="font-size: 10pt"> </span></td><td style="font: bold 8pt Times New Roman, Times, Serif; padding-bottom: 1.5pt"><span style="font-size: 10pt"> </span></td>
<td colspan="2" style="border-bottom: Black 1.5pt solid; font: bold 8pt Times New Roman, Times, Serif; text-align: center"><span style="font-size: 10pt">Level
2</span></td><td style="font: bold 8pt Times New Roman, Times, Serif; padding-bottom: 1.5pt"><span style="font-size: 10pt"> </span></td><td style="font: bold 8pt Times New Roman, Times, Serif; padding-bottom: 1.5pt"><span style="font-size: 10pt"> </span></td>
<td colspan="2" style="border-bottom: Black 1.5pt solid; font: bold 8pt Times New Roman, Times, Serif; text-align: center"><span style="font-size: 10pt">Level
3</span></td><td style="font: bold 8pt Times New Roman, Times, Serif; padding-bottom: 1.5pt"><span style="font-size: 10pt"> </span></td></tr>
<tr style="font: 8pt Times New Roman, Times, Serif; vertical-align: bottom">
<td style="font: 8pt Times New Roman, Times, Serif"><span style="font-size: 10pt"> </span></td><td style="font: 8pt Times New Roman, Times, Serif"><span style="font-size: 10pt"> </span></td>
<td colspan="2" style="font: 8pt Times New Roman, Times, Serif"><span style="font-size: 10pt"> </span></td><td style="font: 8pt Times New Roman, Times, Serif"><span style="font-size: 10pt"> </span></td><td style="font: 8pt Times New Roman, Times, Serif"><span style="font-size: 10pt"> </span></td>
<td colspan="2" style="font: 8pt Times New Roman, Times, Serif"><span style="font-size: 10pt"> </span></td><td style="font: 8pt Times New Roman, Times, Serif"><span style="font-size: 10pt"> </span></td><td style="font: 8pt Times New Roman, Times, Serif"><span style="font-size: 10pt"> </span></td>
<td colspan="2" style="font: 8pt Times New Roman, Times, Serif"><span style="font-size: 10pt"> </span></td><td style="font: 8pt Times New Roman, Times, Serif"><span style="font-size: 10pt"> </span></td><td style="font: 8pt Times New Roman, Times, Serif"><span style="font-size: 10pt"> </span></td>
<td colspan="2" style="font: 8pt Times New Roman, Times, Serif"><span style="font-size: 10pt"> </span></td><td style="font: 8pt Times New Roman, Times, Serif"><span style="font-size: 10pt"> </span></td></tr>
<tr style="font: 8pt Times New Roman, Times, Serif; vertical-align: bottom">
<td style="font: 8pt Times New Roman, Times, Serif"><span style="font-size: 10pt">Cash equivalents:</span></td><td style="font: 8pt Times New Roman, Times, Serif"><span style="font-size: 10pt"> </span></td>
<td colspan="2" style="font: 8pt Times New Roman, Times, Serif"><span style="font-size: 10pt"> </span></td><td style="font: 8pt Times New Roman, Times, Serif"><span style="font-size: 10pt"> </span></td><td style="font: 8pt Times New Roman, Times, Serif"><span style="font-size: 10pt"> </span></td>
<td colspan="2" style="font: 8pt Times New Roman, Times, Serif"><span style="font-size: 10pt"> </span></td><td style="font: 8pt Times New Roman, Times, Serif"><span style="font-size: 10pt"> </span></td><td style="font: 8pt Times New Roman, Times, Serif"><span style="font-size: 10pt"> </span></td>
<td colspan="2" style="font: 8pt Times New Roman, Times, Serif"><span style="font-size: 10pt"> </span></td><td style="font: 8pt Times New Roman, Times, Serif"><span style="font-size: 10pt"> </span></td><td style="font: 8pt Times New Roman, Times, Serif"><span style="font-size: 10pt"> </span></td>
<td colspan="2" style="font: 8pt Times New Roman, Times, Serif"><span style="font-size: 10pt"> </span></td><td style="font: 8pt Times New Roman, Times, Serif"><span style="font-size: 10pt"> </span></td></tr>
<tr style="font: 8pt Times New Roman, Times, Serif; vertical-align: bottom; background-color: rgb(204,238,255)">
<td style="font: 8pt Times New Roman, Times, Serif; padding-left: 0.125in; width: 52%; text-align: left; padding-bottom: 1.5pt"><span style="font-size: 10pt">Money
market funds</span></td><td style="font: 8pt Times New Roman, Times, Serif; width: 1%; padding-bottom: 1.5pt"><span style="font-size: 10pt"> </span></td>
<td style="border-bottom: Black 1.5pt solid; font: 8pt Times New Roman, Times, Serif; width: 1%; text-align: left"><span style="font-size: 10pt">$</span></td><td style="border-bottom: Black 1.5pt solid; font: 8pt Times New Roman, Times, Serif; width: 9%; text-align: right"><span style="font-size: 10pt">16,830</span></td><td style="font: 8pt Times New Roman, Times, Serif; width: 1%; padding-bottom: 1.5pt; text-align: left"><span style="font-size: 10pt"> </span></td><td style="font: 8pt Times New Roman, Times, Serif; width: 1%; padding-bottom: 1.5pt"><span style="font-size: 10pt"> </span></td>
<td style="border-bottom: Black 1.5pt solid; font: 8pt Times New Roman, Times, Serif; width: 1%; text-align: left"><span style="font-size: 10pt">$</span></td><td style="border-bottom: Black 1.5pt solid; font: 8pt Times New Roman, Times, Serif; width: 9%; text-align: right"><span style="font-size: 10pt">16,830</span></td><td style="font: 8pt Times New Roman, Times, Serif; width: 1%; padding-bottom: 1.5pt; text-align: left"><span style="font-size: 10pt"> </span></td><td style="font: 8pt Times New Roman, Times, Serif; width: 1%; padding-bottom: 1.5pt"><span style="font-size: 10pt"> </span></td>
<td style="border-bottom: Black 1.5pt solid; font: 8pt Times New Roman, Times, Serif; width: 1%; text-align: left"><span style="font-size: 10pt">$</span></td><td style="border-bottom: Black 1.5pt solid; font: 8pt Times New Roman, Times, Serif; width: 9%; text-align: right"><span style="-sec-ix-hidden: hidden-fact-227; font-size: 10pt">—</span></td><td style="font: 8pt Times New Roman, Times, Serif; width: 1%; padding-bottom: 1.5pt; text-align: left"><span style="font-size: 10pt"> </span></td><td style="font: 8pt Times New Roman, Times, Serif; width: 1%; padding-bottom: 1.5pt"><span style="font-size: 10pt"> </span></td>
<td style="border-bottom: Black 1.5pt solid; font: 8pt Times New Roman, Times, Serif; width: 1%; text-align: left"><span style="font-size: 10pt">$</span></td><td style="border-bottom: Black 1.5pt solid; font: 8pt Times New Roman, Times, Serif; width: 9%; text-align: right"><span style="-sec-ix-hidden: hidden-fact-228; font-size: 10pt">—</span></td><td style="font: 8pt Times New Roman, Times, Serif; width: 1%; padding-bottom: 1.5pt; text-align: left"><span style="font-size: 10pt"> </span></td></tr>
<tr style="font: 8pt Times New Roman, Times, Serif; vertical-align: bottom; ">
<td style="font: 8pt Times New Roman, Times, Serif; text-align: left; padding-bottom: 4pt"><span style="font-size: 10pt">Total cash
equivalents</span></td><td style="font: 8pt Times New Roman, Times, Serif; padding-bottom: 4pt"><span style="font-size: 10pt"> </span></td>
<td style="border-bottom: Black 4pt double; font: 8pt Times New Roman, Times, Serif; text-align: left"><span style="font-size: 10pt">$</span></td><td style="border-bottom: Black 4pt double; font: 8pt Times New Roman, Times, Serif; text-align: right"><span style="font-size: 10pt">16,830</span></td><td style="font: 8pt Times New Roman, Times, Serif; padding-bottom: 4pt; text-align: left"><span style="font-size: 10pt"> </span></td><td style="font: 8pt Times New Roman, Times, Serif; padding-bottom: 4pt"><span style="font-size: 10pt"> </span></td>
<td style="border-bottom: Black 4pt double; font: 8pt Times New Roman, Times, Serif; text-align: left"><span style="font-size: 10pt">$</span></td><td style="border-bottom: Black 4pt double; font: 8pt Times New Roman, Times, Serif; text-align: right"><span style="font-size: 10pt">16,830</span></td><td style="font: 8pt Times New Roman, Times, Serif; padding-bottom: 4pt; text-align: left"><span style="font-size: 10pt"> </span></td><td style="font: 8pt Times New Roman, Times, Serif; padding-bottom: 4pt"><span style="font-size: 10pt"> </span></td>
<td style="border-bottom: Black 4pt double; font: 8pt Times New Roman, Times, Serif; text-align: left"><span style="font-size: 10pt">$</span></td><td style="border-bottom: Black 4pt double; font: 8pt Times New Roman, Times, Serif; text-align: right"><span style="-sec-ix-hidden: hidden-fact-229; font-size: 10pt">—</span></td><td style="font: 8pt Times New Roman, Times, Serif; padding-bottom: 4pt; text-align: left"><span style="font-size: 10pt"> </span></td><td style="font: 8pt Times New Roman, Times, Serif; padding-bottom: 4pt"><span style="font-size: 10pt"> </span></td>
<td style="border-bottom: Black 4pt double; font: 8pt Times New Roman, Times, Serif; text-align: left"><span style="font-size: 10pt">$</span></td><td style="border-bottom: Black 4pt double; font: 8pt Times New Roman, Times, Serif; text-align: right"><span style="-sec-ix-hidden: hidden-fact-230; font-size: 10pt">—</span></td><td style="font: 8pt Times New Roman, Times, Serif; padding-bottom: 4pt; text-align: left"><span style="font-size: 10pt"> </span></td></tr>
<tr style="font: 8pt Times New Roman, Times, Serif; vertical-align: bottom; background-color: rgb(204,238,255)">
<td style="font: 8pt Times New Roman, Times, Serif"><span style="font-size: 10pt"> </span></td><td style="font: 8pt Times New Roman, Times, Serif"><span style="font-size: 10pt"> </span></td>
<td style="font: 8pt Times New Roman, Times, Serif; text-align: left"><span style="font-size: 10pt"> </span></td><td style="font: 8pt Times New Roman, Times, Serif; text-align: right"><span style="font-size: 10pt"> </span></td><td style="font: 8pt Times New Roman, Times, Serif; text-align: left"><span style="font-size: 10pt"> </span></td><td style="font: 8pt Times New Roman, Times, Serif"><span style="font-size: 10pt"> </span></td>
<td style="font: 8pt Times New Roman, Times, Serif; text-align: left"><span style="font-size: 10pt"> </span></td><td style="font: 8pt Times New Roman, Times, Serif; text-align: right"><span style="font-size: 10pt"> </span></td><td style="font: 8pt Times New Roman, Times, Serif; text-align: left"><span style="font-size: 10pt"> </span></td><td style="font: 8pt Times New Roman, Times, Serif"><span style="font-size: 10pt"> </span></td>
<td style="font: 8pt Times New Roman, Times, Serif; text-align: left"><span style="font-size: 10pt"> </span></td><td style="font: 8pt Times New Roman, Times, Serif; text-align: right"><span style="font-size: 10pt"> </span></td><td style="font: 8pt Times New Roman, Times, Serif; text-align: left"><span style="font-size: 10pt"> </span></td><td style="font: 8pt Times New Roman, Times, Serif"><span style="font-size: 10pt"> </span></td>
<td style="font: 8pt Times New Roman, Times, Serif; text-align: left"><span style="font-size: 10pt"> </span></td><td style="font: 8pt Times New Roman, Times, Serif; text-align: right"><span style="font-size: 10pt"> </span></td><td style="font: 8pt Times New Roman, Times, Serif; text-align: left"><span style="font-size: 10pt"> </span></td></tr>
<tr style="font: 8pt Times New Roman, Times, Serif; vertical-align: bottom; ">
<td style="font: 8pt Times New Roman, Times, Serif; text-align: left"><span style="font-size: 10pt">Short-term investments:</span></td><td style="font: 8pt Times New Roman, Times, Serif"><span style="font-size: 10pt"> </span></td>
<td style="font: 8pt Times New Roman, Times, Serif; text-align: left"><span style="font-size: 10pt"> </span></td><td style="font: 8pt Times New Roman, Times, Serif; text-align: right"><span style="font-size: 10pt"> </span></td><td style="font: 8pt Times New Roman, Times, Serif; text-align: left"><span style="font-size: 10pt"> </span></td><td style="font: 8pt Times New Roman, Times, Serif"><span style="font-size: 10pt"> </span></td>
<td style="font: 8pt Times New Roman, Times, Serif; text-align: left"><span style="font-size: 10pt"> </span></td><td style="font: 8pt Times New Roman, Times, Serif; text-align: right"><span style="font-size: 10pt"> </span></td><td style="font: 8pt Times New Roman, Times, Serif; text-align: left"><span style="font-size: 10pt"> </span></td><td style="font: 8pt Times New Roman, Times, Serif"><span style="font-size: 10pt"> </span></td>
<td style="font: 8pt Times New Roman, Times, Serif; text-align: left"><span style="font-size: 10pt"> </span></td><td style="font: 8pt Times New Roman, Times, Serif; text-align: right"><span style="font-size: 10pt"> </span></td><td style="font: 8pt Times New Roman, Times, Serif; text-align: left"><span style="font-size: 10pt"> </span></td><td style="font: 8pt Times New Roman, Times, Serif"><span style="font-size: 10pt"> </span></td>
<td style="font: 8pt Times New Roman, Times, Serif; text-align: left"><span style="font-size: 10pt"> </span></td><td style="font: 8pt Times New Roman, Times, Serif; text-align: right"><span style="font-size: 10pt"> </span></td><td style="font: 8pt Times New Roman, Times, Serif; text-align: left"><span style="font-size: 10pt"> </span></td></tr>
<tr style="font: 8pt Times New Roman, Times, Serif; vertical-align: bottom; background-color: rgb(204,238,255)">
<td style="font: 8pt Times New Roman, Times, Serif; padding-left: 0.125in"><span style="font-size: 10pt">Certificates of deposit</span></td><td style="font: 8pt Times New Roman, Times, Serif"><span style="font-size: 10pt"> </span></td>
<td style="font: 8pt Times New Roman, Times, Serif; text-align: left"><span style="font-size: 10pt">$</span></td><td style="font: 8pt Times New Roman, Times, Serif; text-align: right"><span style="font-size: 10pt">250</span></td><td style="font: 8pt Times New Roman, Times, Serif; text-align: left"><span style="font-size: 10pt"> </span></td><td style="font: 8pt Times New Roman, Times, Serif"><span style="font-size: 10pt"> </span></td>
<td style="font: 8pt Times New Roman, Times, Serif; text-align: left"><span style="font-size: 10pt">$</span></td><td style="font: 8pt Times New Roman, Times, Serif; text-align: right"><span style="-sec-ix-hidden: hidden-fact-231; font-size: 10pt">—</span></td><td style="font: 8pt Times New Roman, Times, Serif; text-align: left"><span style="font-size: 10pt"> </span></td><td style="font: 8pt Times New Roman, Times, Serif"><span style="font-size: 10pt"> </span></td>
<td style="font: 8pt Times New Roman, Times, Serif; text-align: left"><span style="font-size: 10pt">$</span></td><td style="font: 8pt Times New Roman, Times, Serif; text-align: right"><span style="font-size: 10pt">250</span></td><td style="font: 8pt Times New Roman, Times, Serif; text-align: left"><span style="font-size: 10pt"> </span></td><td style="font: 8pt Times New Roman, Times, Serif"><span style="font-size: 10pt"> </span></td>
<td style="font: 8pt Times New Roman, Times, Serif; text-align: left"><span style="font-size: 10pt">$</span></td><td style="font: 8pt Times New Roman, Times, Serif; text-align: right"><span style="-sec-ix-hidden: hidden-fact-232; font-size: 10pt">—</span></td><td style="font: 8pt Times New Roman, Times, Serif; text-align: left"><span style="font-size: 10pt"> </span></td></tr>
<tr style="font: 8pt Times New Roman, Times, Serif; vertical-align: bottom; ">
<td style="font: 8pt Times New Roman, Times, Serif; padding-left: 0.125in; text-align: left"><span style="font-size: 10pt">Commercial
paper</span></td><td style="font: 8pt Times New Roman, Times, Serif"><span style="font-size: 10pt"> </span></td>
<td style="font: 8pt Times New Roman, Times, Serif; text-align: left"><span style="font-size: 10pt"> </span></td><td style="font: 8pt Times New Roman, Times, Serif; text-align: right"><span style="font-size: 10pt">2,210</span></td><td style="font: 8pt Times New Roman, Times, Serif; text-align: left"><span style="font-size: 10pt"> </span></td><td style="font: 8pt Times New Roman, Times, Serif"><span style="font-size: 10pt"> </span></td>
<td style="font: 8pt Times New Roman, Times, Serif; text-align: left"><span style="font-size: 10pt"> </span></td><td style="font: 8pt Times New Roman, Times, Serif; text-align: right"><span style="-sec-ix-hidden: hidden-fact-233; font-size: 10pt">—</span></td><td style="font: 8pt Times New Roman, Times, Serif; text-align: left"><span style="font-size: 10pt"> </span></td><td style="font: 8pt Times New Roman, Times, Serif"><span style="font-size: 10pt"> </span></td>
<td style="font: 8pt Times New Roman, Times, Serif; text-align: left"><span style="font-size: 10pt"> </span></td><td style="font: 8pt Times New Roman, Times, Serif; text-align: right"><span style="font-size: 10pt">2,210</span></td><td style="font: 8pt Times New Roman, Times, Serif; text-align: left"><span style="font-size: 10pt"> </span></td><td style="font: 8pt Times New Roman, Times, Serif"><span style="font-size: 10pt"> </span></td>
<td style="font: 8pt Times New Roman, Times, Serif; text-align: left"><span style="font-size: 10pt"> </span></td><td style="font: 8pt Times New Roman, Times, Serif; text-align: right"><span style="-sec-ix-hidden: hidden-fact-234; font-size: 10pt">—</span></td><td style="font: 8pt Times New Roman, Times, Serif; text-align: left"><span style="font-size: 10pt"> </span></td></tr>
<tr style="font: 8pt Times New Roman, Times, Serif; vertical-align: bottom; background-color: rgb(204,238,255)">
<td style="font: 8pt Times New Roman, Times, Serif; padding-left: 0.125in; text-align: left"><span style="font-size: 10pt">Corporate
notes</span></td><td style="font: 8pt Times New Roman, Times, Serif"><span style="font-size: 10pt"> </span></td>
<td style="font: 8pt Times New Roman, Times, Serif; text-align: left"><span style="font-size: 10pt"> </span></td><td style="font: 8pt Times New Roman, Times, Serif; text-align: right"><span style="font-size: 10pt">12,024</span></td><td style="font: 8pt Times New Roman, Times, Serif; text-align: left"><span style="font-size: 10pt"> </span></td><td style="font: 8pt Times New Roman, Times, Serif"><span style="font-size: 10pt"> </span></td>
<td style="font: 8pt Times New Roman, Times, Serif; text-align: left"><span style="font-size: 10pt"> </span></td><td style="font: 8pt Times New Roman, Times, Serif; text-align: right"><span style="-sec-ix-hidden: hidden-fact-235; font-size: 10pt">—</span></td><td style="font: 8pt Times New Roman, Times, Serif; text-align: left"><span style="font-size: 10pt"> </span></td><td style="font: 8pt Times New Roman, Times, Serif"><span style="font-size: 10pt"> </span></td>
<td style="font: 8pt Times New Roman, Times, Serif; text-align: left"><span style="font-size: 10pt"> </span></td><td style="font: 8pt Times New Roman, Times, Serif; text-align: right"><span style="font-size: 10pt">12,024</span></td><td style="font: 8pt Times New Roman, Times, Serif; text-align: left"><span style="font-size: 10pt"> </span></td><td style="font: 8pt Times New Roman, Times, Serif"><span style="font-size: 10pt"> </span></td>
<td style="font: 8pt Times New Roman, Times, Serif; text-align: left"><span style="font-size: 10pt"> </span></td><td style="font: 8pt Times New Roman, Times, Serif; text-align: right"><span style="-sec-ix-hidden: hidden-fact-236; font-size: 10pt">—</span></td><td style="font: 8pt Times New Roman, Times, Serif; text-align: left"><span style="font-size: 10pt"> </span></td></tr>
<tr style="font: 8pt Times New Roman, Times, Serif; vertical-align: bottom; ">
<td style="font: 8pt Times New Roman, Times, Serif; padding-left: 0.125in; text-align: left; padding-bottom: 1.5pt"><span style="font-size: 10pt">Municipal
bonds</span></td><td style="font: 8pt Times New Roman, Times, Serif; padding-bottom: 1.5pt"><span style="font-size: 10pt"> </span></td>
<td style="border-bottom: Black 1.5pt solid; font: 8pt Times New Roman, Times, Serif; text-align: left"><span style="font-size: 10pt"> </span></td><td style="border-bottom: Black 1.5pt solid; font: 8pt Times New Roman, Times, Serif; text-align: right"><span style="font-size: 10pt">1,437</span></td><td style="font: 8pt Times New Roman, Times, Serif; padding-bottom: 1.5pt; text-align: left"><span style="font-size: 10pt"> </span></td><td style="font: 8pt Times New Roman, Times, Serif; padding-bottom: 1.5pt"><span style="font-size: 10pt"> </span></td>
<td style="border-bottom: Black 1.5pt solid; font: 8pt Times New Roman, Times, Serif; text-align: left"><span style="font-size: 10pt"> </span></td><td style="border-bottom: Black 1.5pt solid; font: 8pt Times New Roman, Times, Serif; text-align: right"><span style="-sec-ix-hidden: hidden-fact-237; font-size: 10pt">—</span></td><td style="font: 8pt Times New Roman, Times, Serif; padding-bottom: 1.5pt; text-align: left"><span style="font-size: 10pt"> </span></td><td style="font: 8pt Times New Roman, Times, Serif; padding-bottom: 1.5pt"><span style="font-size: 10pt"> </span></td>
<td style="border-bottom: Black 1.5pt solid; font: 8pt Times New Roman, Times, Serif; text-align: left"><span style="font-size: 10pt"> </span></td><td style="border-bottom: Black 1.5pt solid; font: 8pt Times New Roman, Times, Serif; text-align: right"><span style="font-size: 10pt">1,437</span></td><td style="font: 8pt Times New Roman, Times, Serif; padding-bottom: 1.5pt; text-align: left"><span style="font-size: 10pt"> </span></td><td style="font: 8pt Times New Roman, Times, Serif; padding-bottom: 1.5pt"><span style="font-size: 10pt"> </span></td>
<td style="border-bottom: Black 1.5pt solid; font: 8pt Times New Roman, Times, Serif; text-align: left"><span style="font-size: 10pt"> </span></td><td style="border-bottom: Black 1.5pt solid; font: 8pt Times New Roman, Times, Serif; text-align: right"><span style="-sec-ix-hidden: hidden-fact-238; font-size: 10pt">—</span></td><td style="font: 8pt Times New Roman, Times, Serif; padding-bottom: 1.5pt; text-align: left"><span style="font-size: 10pt"> </span></td></tr>
<tr style="font: 8pt Times New Roman, Times, Serif; vertical-align: bottom; background-color: rgb(204,238,255)">
<td style="font: 8pt Times New Roman, Times, Serif; text-align: left; padding-bottom: 4pt"><span style="font-size: 10pt">Total short-term
investments</span></td><td style="font: 8pt Times New Roman, Times, Serif; padding-bottom: 4pt"><span style="font-size: 10pt"> </span></td>
<td style="border-bottom: Black 4pt double; font: 8pt Times New Roman, Times, Serif; text-align: left"><span style="font-size: 10pt">$</span></td><td style="border-bottom: Black 4pt double; font: 8pt Times New Roman, Times, Serif; text-align: right"><span style="font-size: 10pt">15,921</span></td><td style="font: 8pt Times New Roman, Times, Serif; padding-bottom: 4pt; text-align: left"><span style="font-size: 10pt"> </span></td><td style="font: 8pt Times New Roman, Times, Serif; padding-bottom: 4pt"><span style="font-size: 10pt"> </span></td>
<td style="border-bottom: Black 4pt double; font: 8pt Times New Roman, Times, Serif; text-align: left"><span style="font-size: 10pt">$</span></td><td style="border-bottom: Black 4pt double; font: 8pt Times New Roman, Times, Serif; text-align: right"><span style="-sec-ix-hidden: hidden-fact-239; font-size: 10pt">—</span></td><td style="font: 8pt Times New Roman, Times, Serif; padding-bottom: 4pt; text-align: left"><span style="font-size: 10pt"> </span></td><td style="font: 8pt Times New Roman, Times, Serif; padding-bottom: 4pt"><span style="font-size: 10pt"> </span></td>
<td style="border-bottom: Black 4pt double; font: 8pt Times New Roman, Times, Serif; text-align: left"><span style="font-size: 10pt">$</span></td><td style="border-bottom: Black 4pt double; font: 8pt Times New Roman, Times, Serif; text-align: right"><span style="font-size: 10pt">15,921</span></td><td style="font: 8pt Times New Roman, Times, Serif; padding-bottom: 4pt; text-align: left"><span style="font-size: 10pt"> </span></td><td style="font: 8pt Times New Roman, Times, Serif; padding-bottom: 4pt"><span style="font-size: 10pt"> </span></td>
<td style="border-bottom: Black 4pt double; font: 8pt Times New Roman, Times, Serif; text-align: left"><span style="font-size: 10pt">$</span></td><td style="border-bottom: Black 4pt double; font: 8pt Times New Roman, Times, Serif; text-align: right"><span style="-sec-ix-hidden: hidden-fact-240; font-size: 10pt">—</span></td><td style="font: 8pt Times New Roman, Times, Serif; padding-bottom: 4pt; text-align: left"><span style="font-size: 10pt"> </span></td></tr>
</table>
15620000
15620000
15620000
15620000
249000
249000
550000
550000
3415000
3415000
4214000
4214000
16830000
16830000
16830000
16830000
250000
250000
2210000
2210000
12024000
12024000
1437000
1437000
15921000
15921000
<p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify"><span style="text-transform: uppercase"><b>Note
4 – CASH, CASH EQUIVALENTS AND SHORT-TERM INVESTMENTS</b></span></p><p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify"><span style="text-transform: uppercase"><b> </b></span></p><p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify">Cash, cash equivalents and short-term investments
consist of the following (in thousands):</p><p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify"> </p><table cellpadding="0" cellspacing="0" style="font: 8pt Times New Roman, Times, Serif; border-collapse: collapse; width: 100%">
<tr style="font: 8pt Times New Roman, Times, Serif; vertical-align: bottom">
<td style="font: 8pt Times New Roman, Times, Serif"><span style="font-size: 10pt"> </span></td><td style="font: bold 8pt Times New Roman, Times, Serif"><span style="font-size: 10pt"> </span></td>
<td colspan="2" style="font: bold 8pt Times New Roman, Times, Serif; text-align: center"><span style="font-size: 10pt">June 30,<br/></span></td><td style="font: bold 8pt Times New Roman, Times, Serif"><span style="font-size: 10pt"> </span></td><td style="font: bold 8pt Times New Roman, Times, Serif"><span style="font-size: 10pt"> </span></td>
<td colspan="2" style="font: bold 8pt Times New Roman, Times, Serif; text-align: center"><span style="font-size: 10pt">December 31,<br/></span></td><td style="font: bold 8pt Times New Roman, Times, Serif"><span style="font-size: 10pt"> </span></td></tr>
<tr style="font: 8pt Times New Roman, Times, Serif; vertical-align: bottom">
<td style="font: 8pt Times New Roman, Times, Serif"><span style="font-size: 10pt"> </span></td><td style="font: bold 8pt Times New Roman, Times, Serif; padding-bottom: 1.5pt"><span style="font-size: 10pt"> </span></td>
<td colspan="2" style="border-bottom: Black 1.5pt solid; font: bold 8pt Times New Roman, Times, Serif; text-align: center"><span style="font-size: 10pt">2022</span></td><td style="font: bold 8pt Times New Roman, Times, Serif; padding-bottom: 1.5pt"><span style="font-size: 10pt"> </span></td><td style="font: bold 8pt Times New Roman, Times, Serif; padding-bottom: 1.5pt"><span style="font-size: 10pt"> </span></td>
<td colspan="2" style="border-bottom: Black 1.5pt solid; font: bold 8pt Times New Roman, Times, Serif; text-align: center"><span style="font-size: 10pt">2021</span></td><td style="font: bold 8pt Times New Roman, Times, Serif; padding-bottom: 1.5pt"><span style="font-size: 10pt"> </span></td></tr>
<tr style="font: 8pt Times New Roman, Times, Serif; vertical-align: bottom">
<td style="font: 8pt Times New Roman, Times, Serif"><span style="font-size: 10pt">Cash and cash equivalents:</span></td><td style="font: 8pt Times New Roman, Times, Serif"><span style="font-size: 10pt"> </span></td>
<td colspan="2" style="font: 8pt Times New Roman, Times, Serif"><span style="font-size: 10pt"> </span></td><td style="font: 8pt Times New Roman, Times, Serif"><span style="font-size: 10pt"> </span></td><td style="font: 8pt Times New Roman, Times, Serif"><span style="font-size: 10pt"> </span></td>
<td colspan="2" style="font: 8pt Times New Roman, Times, Serif"><span style="font-size: 10pt"> </span></td><td style="font: 8pt Times New Roman, Times, Serif"><span style="font-size: 10pt"> </span></td></tr>
<tr style="font: 8pt Times New Roman, Times, Serif; vertical-align: bottom; background-color: rgb(204,238,255)">
<td style="font: 8pt Times New Roman, Times, Serif; padding-left: 0.125in; width: 76%"><span style="font-size: 10pt">Cash</span></td><td style="font: 8pt Times New Roman, Times, Serif; width: 1%"><span style="font-size: 10pt"> </span></td>
<td style="font: 8pt Times New Roman, Times, Serif; width: 1%; text-align: left"><span style="font-size: 10pt">$</span></td><td style="font: 8pt Times New Roman, Times, Serif; width: 9%; text-align: right"><span style="font-size: 10pt">1,469</span></td><td style="font: 8pt Times New Roman, Times, Serif; width: 1%; text-align: left"><span style="font-size: 10pt"> </span></td><td style="font: 8pt Times New Roman, Times, Serif; width: 1%"><span style="font-size: 10pt"> </span></td>
<td style="font: 8pt Times New Roman, Times, Serif; width: 1%; text-align: left"><span style="font-size: 10pt">$</span></td><td style="font: 8pt Times New Roman, Times, Serif; width: 9%; text-align: right"><span style="font-size: 10pt">845</span></td><td style="font: 8pt Times New Roman, Times, Serif; width: 1%; text-align: left"><span style="font-size: 10pt"> </span></td></tr>
<tr style="font: 8pt Times New Roman, Times, Serif; vertical-align: bottom; ">
<td style="font: 8pt Times New Roman, Times, Serif; padding-left: 0.125in; text-align: left; padding-bottom: 1.5pt"><span style="font-size: 10pt">Money
market funds</span></td><td style="font: 8pt Times New Roman, Times, Serif; padding-bottom: 1.5pt"><span style="font-size: 10pt"> </span></td>
<td style="border-bottom: Black 1.5pt solid; font: 8pt Times New Roman, Times, Serif; text-align: left"><span style="font-size: 10pt"> </span></td><td style="border-bottom: Black 1.5pt solid; font: 8pt Times New Roman, Times, Serif; text-align: right"><span style="font-size: 10pt">15,620</span></td><td style="font: 8pt Times New Roman, Times, Serif; padding-bottom: 1.5pt; text-align: left"><span style="font-size: 10pt"> </span></td><td style="font: 8pt Times New Roman, Times, Serif; padding-bottom: 1.5pt"><span style="font-size: 10pt"> </span></td>
<td style="border-bottom: Black 1.5pt solid; font: 8pt Times New Roman, Times, Serif; text-align: left"><span style="font-size: 10pt"> </span></td><td style="border-bottom: Black 1.5pt solid; font: 8pt Times New Roman, Times, Serif; text-align: right"><span style="font-size: 10pt">16,830</span></td><td style="font: 8pt Times New Roman, Times, Serif; padding-bottom: 1.5pt; text-align: left"><span style="font-size: 10pt"> </span></td></tr>
<tr style="font: 8pt Times New Roman, Times, Serif; vertical-align: bottom; background-color: rgb(204,238,255)">
<td style="font: 8pt Times New Roman, Times, Serif; text-align: left; padding-bottom: 4pt"><span style="font-size: 10pt">Total cash
and cash equivalents</span></td><td style="font: 8pt Times New Roman, Times, Serif; padding-bottom: 4pt"><span style="font-size: 10pt"> </span></td>
<td style="border-bottom: Black 4pt double; font: 8pt Times New Roman, Times, Serif; text-align: left"><span style="font-size: 10pt">$</span></td><td style="border-bottom: Black 4pt double; font: 8pt Times New Roman, Times, Serif; text-align: right"><span style="font-size: 10pt">17,089</span></td><td style="font: 8pt Times New Roman, Times, Serif; padding-bottom: 4pt; text-align: left"><span style="font-size: 10pt"> </span></td><td style="font: 8pt Times New Roman, Times, Serif; padding-bottom: 4pt"><span style="font-size: 10pt"> </span></td>
<td style="border-bottom: Black 4pt double; font: 8pt Times New Roman, Times, Serif; text-align: left"><span style="font-size: 10pt">$</span></td><td style="border-bottom: Black 4pt double; font: 8pt Times New Roman, Times, Serif; text-align: right"><span style="font-size: 10pt">17,675</span></td><td style="font: 8pt Times New Roman, Times, Serif; padding-bottom: 4pt; text-align: left"><span style="font-size: 10pt"> </span></td></tr>
<tr style="font: 8pt Times New Roman, Times, Serif; vertical-align: bottom; ">
<td style="font: 8pt Times New Roman, Times, Serif"><span style="font-size: 10pt"> </span></td><td style="font: 8pt Times New Roman, Times, Serif"><span style="font-size: 10pt"> </span></td>
<td style="font: 8pt Times New Roman, Times, Serif; text-align: left"><span style="font-size: 10pt"> </span></td><td style="font: 8pt Times New Roman, Times, Serif; text-align: right"><span style="font-size: 10pt"> </span></td><td style="font: 8pt Times New Roman, Times, Serif; text-align: left"><span style="font-size: 10pt"> </span></td><td style="font: 8pt Times New Roman, Times, Serif"><span style="font-size: 10pt"> </span></td>
<td style="font: 8pt Times New Roman, Times, Serif; text-align: left"><span style="font-size: 10pt"> </span></td><td style="font: 8pt Times New Roman, Times, Serif; text-align: right"><span style="font-size: 10pt"> </span></td><td style="font: 8pt Times New Roman, Times, Serif; text-align: left"><span style="font-size: 10pt"> </span></td></tr>
<tr style="font: 8pt Times New Roman, Times, Serif; vertical-align: bottom; background-color: rgb(204,238,255)">
<td style="font: 8pt Times New Roman, Times, Serif; text-align: left"><span style="font-size: 10pt">Short-term investments:</span></td><td style="font: 8pt Times New Roman, Times, Serif"><span style="font-size: 10pt"> </span></td>
<td style="font: 8pt Times New Roman, Times, Serif; text-align: left"><span style="font-size: 10pt"> </span></td><td style="font: 8pt Times New Roman, Times, Serif; text-align: right"><span style="font-size: 10pt"> </span></td><td style="font: 8pt Times New Roman, Times, Serif; text-align: left"><span style="font-size: 10pt"> </span></td><td style="font: 8pt Times New Roman, Times, Serif"><span style="font-size: 10pt"> </span></td>
<td style="font: 8pt Times New Roman, Times, Serif; text-align: left"><span style="font-size: 10pt"> </span></td><td style="font: 8pt Times New Roman, Times, Serif; text-align: right"><span style="font-size: 10pt"> </span></td><td style="font: 8pt Times New Roman, Times, Serif; text-align: left"><span style="font-size: 10pt"> </span></td></tr>
<tr style="font: 8pt Times New Roman, Times, Serif; vertical-align: bottom; ">
<td style="font: 8pt Times New Roman, Times, Serif; padding-left: 0.125in"><span style="font-size: 10pt">Certificates of deposit</span></td><td style="font: 8pt Times New Roman, Times, Serif"><span style="font-size: 10pt"> </span></td>
<td style="font: 8pt Times New Roman, Times, Serif; text-align: left"><span style="font-size: 10pt">$</span></td><td style="font: 8pt Times New Roman, Times, Serif; text-align: right"><span style="font-size: 10pt">249</span></td><td style="font: 8pt Times New Roman, Times, Serif; text-align: left"><span style="font-size: 10pt"> </span></td><td style="font: 8pt Times New Roman, Times, Serif"><span style="font-size: 10pt"> </span></td>
<td style="font: 8pt Times New Roman, Times, Serif; text-align: left"><span style="font-size: 10pt">$</span></td><td style="font: 8pt Times New Roman, Times, Serif; text-align: right"><span style="font-size: 10pt">250</span></td><td style="font: 8pt Times New Roman, Times, Serif; text-align: left"><span style="font-size: 10pt"> </span></td></tr>
<tr style="font: 8pt Times New Roman, Times, Serif; vertical-align: bottom; background-color: rgb(204,238,255)">
<td style="font: 8pt Times New Roman, Times, Serif; padding-left: 0.125in; text-align: left"><span style="font-size: 10pt">Commercial
paper</span></td><td style="font: 8pt Times New Roman, Times, Serif"><span style="font-size: 10pt"> </span></td>
<td style="font: 8pt Times New Roman, Times, Serif; text-align: left"><span style="font-size: 10pt"> </span></td><td style="font: 8pt Times New Roman, Times, Serif; text-align: right"><span style="font-size: 10pt">550</span></td><td style="font: 8pt Times New Roman, Times, Serif; text-align: left"><span style="font-size: 10pt"> </span></td><td style="font: 8pt Times New Roman, Times, Serif"><span style="font-size: 10pt"> </span></td>
<td style="font: 8pt Times New Roman, Times, Serif; text-align: left"><span style="font-size: 10pt"> </span></td><td style="font: 8pt Times New Roman, Times, Serif; text-align: right"><span style="font-size: 10pt">2,210</span></td><td style="font: 8pt Times New Roman, Times, Serif; text-align: left"><span style="font-size: 10pt"> </span></td></tr>
<tr style="font: 8pt Times New Roman, Times, Serif; vertical-align: bottom; ">
<td style="font: 8pt Times New Roman, Times, Serif; padding-left: 0.125in; text-align: left"><span style="font-size: 10pt">Corporate
notes</span></td><td style="font: 8pt Times New Roman, Times, Serif"><span style="font-size: 10pt"> </span></td>
<td style="font: 8pt Times New Roman, Times, Serif; text-align: left"><span style="font-size: 10pt"> </span></td><td style="font: 8pt Times New Roman, Times, Serif; text-align: right"><span style="font-size: 10pt">3,415</span></td><td style="font: 8pt Times New Roman, Times, Serif; text-align: left"><span style="font-size: 10pt"> </span></td><td style="font: 8pt Times New Roman, Times, Serif"><span style="font-size: 10pt"> </span></td>
<td style="font: 8pt Times New Roman, Times, Serif; text-align: left"><span style="font-size: 10pt"> </span></td><td style="font: 8pt Times New Roman, Times, Serif; text-align: right"><span style="font-size: 10pt">12,024</span></td><td style="font: 8pt Times New Roman, Times, Serif; text-align: left"><span style="font-size: 10pt"> </span></td></tr>
<tr style="font: 8pt Times New Roman, Times, Serif; vertical-align: bottom; background-color: rgb(204,238,255)">
<td style="font: 8pt Times New Roman, Times, Serif; padding-left: 0.125in; text-align: left; padding-bottom: 1.5pt"><span style="font-size: 10pt">Municipal
bonds</span></td><td style="font: 8pt Times New Roman, Times, Serif; padding-bottom: 1.5pt"><span style="font-size: 10pt"> </span></td>
<td style="border-bottom: Black 1.5pt solid; font: 8pt Times New Roman, Times, Serif; text-align: left"><span style="font-size: 10pt"> </span></td><td style="border-bottom: Black 1.5pt solid; font: 8pt Times New Roman, Times, Serif; text-align: right"><span style="-sec-ix-hidden: hidden-fact-241; font-size: 10pt">—</span></td><td style="font: 8pt Times New Roman, Times, Serif; padding-bottom: 1.5pt; text-align: left"><span style="font-size: 10pt"> </span></td><td style="font: 8pt Times New Roman, Times, Serif; padding-bottom: 1.5pt"><span style="font-size: 10pt"> </span></td>
<td style="border-bottom: Black 1.5pt solid; font: 8pt Times New Roman, Times, Serif; text-align: left"><span style="font-size: 10pt"> </span></td><td style="border-bottom: Black 1.5pt solid; font: 8pt Times New Roman, Times, Serif; text-align: right"><span style="font-size: 10pt">1,437</span></td><td style="font: 8pt Times New Roman, Times, Serif; padding-bottom: 1.5pt; text-align: left"><span style="font-size: 10pt"> </span></td></tr>
<tr style="font: 8pt Times New Roman, Times, Serif; vertical-align: bottom; ">
<td style="font: 8pt Times New Roman, Times, Serif; text-align: left; padding-bottom: 4pt"><span style="font-size: 10pt">Total short-term
investments</span></td><td style="font: 8pt Times New Roman, Times, Serif; padding-bottom: 4pt"><span style="font-size: 10pt"> </span></td>
<td style="border-bottom: Black 4pt double; font: 8pt Times New Roman, Times, Serif; text-align: left"><span style="font-size: 10pt">$</span></td><td style="border-bottom: Black 4pt double; font: 8pt Times New Roman, Times, Serif; text-align: right"><span style="font-size: 10pt">4,214</span></td><td style="font: 8pt Times New Roman, Times, Serif; padding-bottom: 4pt; text-align: left"><span style="font-size: 10pt"> </span></td><td style="font: 8pt Times New Roman, Times, Serif; padding-bottom: 4pt"><span style="font-size: 10pt"> </span></td>
<td style="border-bottom: Black 4pt double; font: 8pt Times New Roman, Times, Serif; text-align: left"><span style="font-size: 10pt">$</span></td><td style="border-bottom: Black 4pt double; font: 8pt Times New Roman, Times, Serif; text-align: right"><span style="font-size: 10pt">15,921</span></td><td style="font: 8pt Times New Roman, Times, Serif; padding-bottom: 4pt; text-align: left"><span style="font-size: 10pt"> </span></td></tr>
</table><p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify"> </p><p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify">The contractual maturities of short-term investments
classified as available-for-sale as of June 30, 2022 were as follows (in thousands):</p><p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify"> </p><table cellpadding="0" cellspacing="0" style="font: 8pt Times New Roman, Times, Serif; border-collapse: collapse; width: 100%">
<tr style="font: 8pt Times New Roman, Times, Serif; vertical-align: bottom">
<td style="font: 8pt Times New Roman, Times, Serif"><span style="font-size: 10pt"> </span></td><td style="font: bold 8pt Times New Roman, Times, Serif; padding-bottom: 1.5pt"><span style="font-size: 10pt"> </span></td>
<td colspan="2" style="border-bottom: Black 1.5pt solid; font: bold 8pt Times New Roman, Times, Serif; text-align: center"><span style="font-size: 10pt">June
30,<br/>
2022</span></td><td style="font: bold 8pt Times New Roman, Times, Serif; padding-bottom: 1.5pt"><span style="font-size: 10pt"> </span></td></tr>
<tr style="font: 8pt Times New Roman, Times, Serif; vertical-align: bottom">
<td style="font: 8pt Times New Roman, Times, Serif"><span style="font-size: 10pt"> </span></td><td style="font: 8pt Times New Roman, Times, Serif"><span style="font-size: 10pt"> </span></td>
<td colspan="2" style="font: 8pt Times New Roman, Times, Serif"><span style="font-size: 10pt"> </span></td><td style="font: 8pt Times New Roman, Times, Serif"><span style="font-size: 10pt"> </span></td></tr>
<tr style="font: 8pt Times New Roman, Times, Serif; vertical-align: bottom; background-color: rgb(204,238,255)">
<td style="font: 8pt Times New Roman, Times, Serif; width: 88%; text-align: left"><span style="font-size: 10pt">Due within one year</span></td><td style="font: 8pt Times New Roman, Times, Serif; width: 1%"><span style="font-size: 10pt"> </span></td>
<td style="font: 8pt Times New Roman, Times, Serif; width: 1%; text-align: left"><span style="font-size: 10pt">$</span></td><td style="font: 8pt Times New Roman, Times, Serif; width: 9%; text-align: right"><span style="font-size: 10pt">4,214</span></td><td style="font: 8pt Times New Roman, Times, Serif; width: 1%; text-align: left"><span style="font-size: 10pt"> </span></td></tr>
<tr style="font: 8pt Times New Roman, Times, Serif; vertical-align: bottom; ">
<td style="font: 8pt Times New Roman, Times, Serif; text-align: left; padding-bottom: 1.5pt"><span style="font-size: 10pt">Due after
one year through five years</span></td><td style="font: 8pt Times New Roman, Times, Serif; padding-bottom: 1.5pt"><span style="font-size: 10pt"> </span></td>
<td style="border-bottom: Black 1.5pt solid; font: 8pt Times New Roman, Times, Serif; text-align: left"><span style="font-size: 10pt"> </span></td><td style="border-bottom: Black 1.5pt solid; font: 8pt Times New Roman, Times, Serif; text-align: right"><span style="-sec-ix-hidden: hidden-fact-242; font-size: 10pt">—</span></td><td style="font: 8pt Times New Roman, Times, Serif; padding-bottom: 1.5pt; text-align: left"><span style="font-size: 10pt"> </span></td></tr>
<tr style="font: 8pt Times New Roman, Times, Serif; vertical-align: bottom; background-color: rgb(204,238,255)">
<td style="font: 8pt Times New Roman, Times, Serif; padding-bottom: 4pt"><span style="font-size: 10pt">Total</span></td><td style="font: 8pt Times New Roman, Times, Serif; padding-bottom: 4pt"><span style="font-size: 10pt"> </span></td>
<td style="border-bottom: Black 4pt double; font: 8pt Times New Roman, Times, Serif; text-align: left"><span style="font-size: 10pt">$</span></td><td style="border-bottom: Black 4pt double; font: 8pt Times New Roman, Times, Serif; text-align: right"><span style="font-size: 10pt">4,214</span></td><td style="font: 8pt Times New Roman, Times, Serif; padding-bottom: 4pt; text-align: left"><span style="font-size: 10pt"> </span></td></tr>
</table><p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify"> </p><p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify">The following table summarizes the unrealized
gains and losses related to short-term investments classified as available-for-sale on the Company’s condensed consolidated balance
sheet (in thousands): </p><p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify"> </p><table cellpadding="0" cellspacing="0" style="font: 8pt Times New Roman, Times, Serif; border-collapse: collapse; width: 100%">
<tr>
<td> </td><td style="font-size: 10pt; font-weight: bold; padding-bottom: 1.5pt"> </td>
<td colspan="14" style="font-size: 10pt; font-weight: bold; text-align: center; border-bottom: Black 1.5pt solid">June 30, 2022</td><td style="padding-bottom: 1.5pt; font-size: 10pt; font-weight: bold"> </td></tr>
<tr>
<td> </td><td style="font-size: 10pt; font-weight: bold; padding-bottom: 1.5pt"> </td>
<td colspan="2" style="font-size: 10pt; font-weight: bold; text-align: center; border-bottom: Black 1.5pt solid">Amortized<br/> Cost</td><td style="padding-bottom: 1.5pt; font-size: 10pt; font-weight: bold"> </td><td style="font-size: 10pt; font-weight: bold; padding-bottom: 1.5pt"> </td>
<td colspan="2" style="font-size: 10pt; font-weight: bold; text-align: center; border-bottom: Black 1.5pt solid">Gross<br/> Unrealized<br/>
Gains</td><td style="padding-bottom: 1.5pt; font-size: 10pt; font-weight: bold"> </td><td style="font-size: 10pt; font-weight: bold; padding-bottom: 1.5pt"> </td>
<td colspan="2" style="font-size: 10pt; font-weight: bold; text-align: center; border-bottom: Black 1.5pt solid">Gross<br/> Unrealized<br/>
Losses</td><td style="padding-bottom: 1.5pt; font-size: 10pt; font-weight: bold"> </td><td style="font-size: 10pt; font-weight: bold; padding-bottom: 1.5pt"> </td>
<td colspan="2" style="font-size: 10pt; font-weight: bold; text-align: center; border-bottom: Black 1.5pt solid">Aggregate<br/> Estimated<br/>
Fair Value</td><td style="padding-bottom: 1.5pt; font-size: 10pt; font-weight: bold"> </td></tr>
<tr>
<td style="font-size: 10pt">Short-term investments:</td><td> </td>
<td colspan="2"> </td><td> </td><td> </td>
<td colspan="2"> </td><td> </td><td> </td>
<td colspan="2"> </td><td> </td><td> </td>
<td colspan="2"> </td><td> </td></tr>
<tr style="background-color: rgb(204,238,255)">
<td style="width: 52%; font-size: 10pt; padding-left: 9pt">Certificates of deposit</td><td style="width: 1%; font-size: 10pt"> </td>
<td style="width: 1%; font-size: 10pt; text-align: left">$</td><td style="width: 9%; font-size: 10pt; text-align: right">250</td><td style="width: 1%; font-size: 10pt; text-align: left"> </td><td style="width: 1%; font-size: 10pt"> </td>
<td style="width: 1%; font-size: 10pt; text-align: left">$</td><td style="width: 9%; font-size: 10pt; text-align: right"><div style="-sec-ix-hidden: hidden-fact-243"> —</div></td><td style="width: 1%; font-size: 10pt; text-align: left"> </td><td style="width: 1%; font-size: 10pt"> </td>
<td style="width: 1%; font-size: 10pt; text-align: left">$</td><td style="width: 9%; font-size: 10pt; text-align: right"> (1</td><td style="width: 1%; font-size: 10pt; text-align: left">)</td><td style="width: 1%; font-size: 10pt"> </td>
<td style="width: 1%; font-size: 10pt; text-align: left">$</td><td style="width: 9%; font-size: 10pt; text-align: right"> 249</td><td style="width: 1%; font-size: 10pt; text-align: left"> </td></tr>
<tr>
<td style="font-size: 10pt; text-align: left; padding-left: 9pt">Commercial paper</td><td style="font-size: 10pt"> </td>
<td style="font-size: 10pt; text-align: left"> </td><td style="font-size: 10pt; text-align: right">550</td><td style="font-size: 10pt; text-align: left"> </td><td style="font-size: 10pt"> </td>
<td style="font-size: 10pt; text-align: left"> </td><td style="font-size: 10pt; text-align: right"><div style="-sec-ix-hidden: hidden-fact-244">—</div></td><td style="font-size: 10pt; text-align: left"> </td><td> </td>
<td style="text-align: left"> </td><td style="text-align: right"> </td><td style="text-align: left"> </td><td style="font-size: 10pt"> </td>
<td style="font-size: 10pt; text-align: left"> </td><td style="font-size: 10pt; text-align: right">550</td><td style="font-size: 10pt; text-align: left"> </td></tr>
<tr style="background-color: rgb(204,238,255)">
<td style="font-size: 10pt; text-align: left; padding-left: 9pt">Corporate notes</td><td style="font-size: 10pt"> </td>
<td style="font-size: 10pt; text-align: left"> </td><td style="font-size: 10pt; text-align: right">3,429</td><td style="font-size: 10pt; text-align: left"> </td><td style="font-size: 10pt"> </td>
<td style="font-size: 10pt; text-align: left"> </td><td style="font-size: 10pt; text-align: right"><div style="-sec-ix-hidden: hidden-fact-245">—</div></td><td style="font-size: 10pt; text-align: left"> </td><td style="font-size: 10pt"> </td>
<td style="font-size: 10pt; text-align: left"> </td><td style="font-size: 10pt; text-align: right">(14</td><td style="font-size: 10pt; text-align: left">)</td><td style="font-size: 10pt"> </td>
<td style="font-size: 10pt; text-align: left"> </td><td style="font-size: 10pt; text-align: right">3,415</td><td style="font-size: 10pt; text-align: left"> </td></tr>
<tr>
<td style="font-size: 10pt; text-align: left; padding-bottom: 1.5pt; padding-left: 9pt">Municipal bonds</td><td style="font-size: 10pt; padding-bottom: 1.5pt"> </td>
<td style="border-bottom: Black 1.5pt solid; font-size: 10pt; text-align: left"> </td><td style="border-bottom: Black 1.5pt solid; font-size: 10pt; text-align: right"><div style="-sec-ix-hidden: hidden-fact-246">—</div></td><td style="padding-bottom: 1.5pt; font-size: 10pt; text-align: left"> </td><td style="font-size: 10pt; padding-bottom: 1.5pt"> </td>
<td style="border-bottom: Black 1.5pt solid; font-size: 10pt; text-align: left"> </td><td style="border-bottom: Black 1.5pt solid; font-size: 10pt; text-align: right"><div style="-sec-ix-hidden: hidden-fact-247">—</div></td><td style="padding-bottom: 1.5pt; font-size: 10pt; text-align: left"> </td><td style="font-size: 10pt; padding-bottom: 1.5pt"> </td>
<td style="border-bottom: Black 1.5pt solid; font-size: 10pt; text-align: left"> </td><td style="border-bottom: Black 1.5pt solid; font-size: 10pt; text-align: right"><div style="-sec-ix-hidden: hidden-fact-248">—</div></td><td style="padding-bottom: 1.5pt; font-size: 10pt; text-align: left"> </td><td style="font-size: 10pt; padding-bottom: 1.5pt"> </td>
<td style="border-bottom: Black 1.5pt solid; font-size: 10pt; text-align: left"> </td><td style="border-bottom: Black 1.5pt solid; font-size: 10pt; text-align: right"><div style="-sec-ix-hidden: hidden-fact-249">—</div></td><td style="padding-bottom: 1.5pt; font-size: 10pt; text-align: left"> </td></tr>
<tr style="background-color: rgb(204,238,255)">
<td style="font-size: 10pt; text-align: left; padding-bottom: 4pt">Total short-term investments</td><td style="font-size: 10pt; padding-bottom: 4pt"> </td>
<td style="border-bottom: Black 4pt double; font-size: 10pt; text-align: left">$</td><td style="border-bottom: Black 4pt double; font-size: 10pt; text-align: right">4,229</td><td style="padding-bottom: 4pt; font-size: 10pt; text-align: left"> </td><td style="font-size: 10pt; padding-bottom: 4pt"> </td>
<td style="border-bottom: Black 4pt double; font-size: 10pt; text-align: left">$</td><td style="border-bottom: Black 4pt double; font-size: 10pt; text-align: right"><div style="-sec-ix-hidden: hidden-fact-250">—</div></td><td style="padding-bottom: 4pt; font-size: 10pt; text-align: left"> </td><td style="font-size: 10pt; padding-bottom: 4pt"> </td>
<td style="border-bottom: Black 4pt double; font-size: 10pt; text-align: left">$</td><td style="border-bottom: Black 4pt double; font-size: 10pt; text-align: right">(15</td><td style="padding-bottom: 4pt; font-size: 10pt; text-align: left">)</td><td style="font-size: 10pt; padding-bottom: 4pt"> </td>
<td style="border-bottom: Black 4pt double; font-size: 10pt; text-align: left">$</td><td style="border-bottom: Black 4pt double; font-size: 10pt; text-align: right">4,214</td><td style="padding-bottom: 4pt; font-size: 10pt; text-align: left"> </td></tr>
</table><p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify"/><table cellpadding="0" cellspacing="0" style="font: 8pt Times New Roman, Times, Serif; border-collapse: collapse; width: 100%">
<tr style="font: 8pt Times New Roman, Times, Serif; vertical-align: bottom">
<td style="font: 8pt Times New Roman, Times, Serif; text-align: center"><span style="font-size: 10pt"> </span></td><td style="font: bold 8pt Times New Roman, Times, Serif; padding-bottom: 1.5pt"><span style="font-size: 10pt"> </span></td>
<td colspan="14" style="border-bottom: Black 1.5pt solid; font: bold 8pt Times New Roman, Times, Serif; text-align: center"><span style="font-size: 10pt">December 31,
2021</span></td><td style="font: bold 8pt Times New Roman, Times, Serif; padding-bottom: 1.5pt"><span style="font-size: 10pt"> </span></td></tr>
<tr style="font: 8pt Times New Roman, Times, Serif; vertical-align: bottom">
<td style="font: 8pt Times New Roman, Times, Serif; text-align: center"><span style="font-size: 10pt"> </span></td><td style="font: bold 8pt Times New Roman, Times, Serif; padding-bottom: 1.5pt"><span style="font-size: 10pt"> </span></td>
<td colspan="2" style="border-bottom: Black 1.5pt solid; font: bold 8pt Times New Roman, Times, Serif; text-align: center"><span style="font-size: 10pt">Amortized<br/>
Cost</span></td><td style="font: bold 8pt Times New Roman, Times, Serif; padding-bottom: 1.5pt"><span style="font-size: 10pt"> </span></td><td style="font: bold 8pt Times New Roman, Times, Serif; padding-bottom: 1.5pt"><span style="font-size: 10pt"> </span></td>
<td colspan="2" style="border-bottom: Black 1.5pt solid; font: bold 8pt Times New Roman, Times, Serif; text-align: center"><span style="font-size: 10pt">Gross<br/>
Unrealized<br/> Gains</span></td><td style="font: bold 8pt Times New Roman, Times, Serif; padding-bottom: 1.5pt"><span style="font-size: 10pt"> </span></td><td style="font: bold 8pt Times New Roman, Times, Serif; padding-bottom: 1.5pt"><span style="font-size: 10pt"> </span></td>
<td colspan="2" style="border-bottom: Black 1.5pt solid; font: bold 8pt Times New Roman, Times, Serif; text-align: center"><span style="font-size: 10pt">Gross<br/>
Unrealized<br/> Losses</span></td><td style="font: bold 8pt Times New Roman, Times, Serif; padding-bottom: 1.5pt"><span style="font-size: 10pt"> </span></td><td style="font: bold 8pt Times New Roman, Times, Serif; padding-bottom: 1.5pt"><span style="font-size: 10pt"> </span></td>
<td colspan="2" style="border-bottom: Black 1.5pt solid; font: bold 8pt Times New Roman, Times, Serif; text-align: center"><span style="font-size: 10pt">Aggregate<br/>
Estimated<br/> Fair Value</span></td><td style="font: bold 8pt Times New Roman, Times, Serif; padding-bottom: 1.5pt"><span style="font-size: 10pt"> </span></td></tr>
<tr style="font: 8pt Times New Roman, Times, Serif; vertical-align: bottom">
<td style="font: 8pt Times New Roman, Times, Serif"><span style="font-size: 10pt">Short-term investments:</span></td><td style="font: 8pt Times New Roman, Times, Serif"><span style="font-size: 10pt"> </span></td>
<td colspan="2" style="font: 8pt Times New Roman, Times, Serif; text-align: right"><span style="font-size: 10pt"> </span></td><td style="font: 8pt Times New Roman, Times, Serif"><span style="font-size: 10pt"> </span></td><td style="font: 8pt Times New Roman, Times, Serif"><span style="font-size: 10pt"> </span></td>
<td colspan="2" style="font: 8pt Times New Roman, Times, Serif; text-align: right"><span style="font-size: 10pt"> </span></td><td style="font: 8pt Times New Roman, Times, Serif"><span style="font-size: 10pt"> </span></td><td style="font: 8pt Times New Roman, Times, Serif"><span style="font-size: 10pt"> </span></td>
<td colspan="2" style="font: 8pt Times New Roman, Times, Serif; text-align: right"><span style="font-size: 10pt"> </span></td><td style="font: 8pt Times New Roman, Times, Serif"><span style="font-size: 10pt"> </span></td><td style="font: 8pt Times New Roman, Times, Serif"><span style="font-size: 10pt"> </span></td>
<td colspan="2" style="font: 8pt Times New Roman, Times, Serif; text-align: right"><span style="font-size: 10pt"> </span></td><td style="font: 8pt Times New Roman, Times, Serif"><span style="font-size: 10pt"> </span></td></tr>
<tr style="font: 8pt Times New Roman, Times, Serif; vertical-align: bottom; background-color: rgb(204,238,255)">
<td style="font: 8pt Times New Roman, Times, Serif; width: 52%; text-indent: -9pt; padding-left: 0.25in"><span style="font-size: 10pt">Certificates
of deposit</span></td><td style="font: 8pt Times New Roman, Times, Serif; width: 1%"><span style="font-size: 10pt"> </span></td>
<td style="font: 8pt Times New Roman, Times, Serif; width: 1%; text-align: left"><span style="font-size: 10pt">$</span></td><td style="font: 8pt Times New Roman, Times, Serif; width: 9%; text-align: right"><span style="font-size: 10pt">250</span></td><td style="font: 8pt Times New Roman, Times, Serif; width: 1%; text-align: left"><span style="font-size: 10pt"> </span></td><td style="font: 8pt Times New Roman, Times, Serif; width: 1%"><span style="font-size: 10pt"> </span></td>
<td style="font: 8pt Times New Roman, Times, Serif; width: 1%; text-align: left"><span style="font-size: 10pt">$</span></td><td style="font: 8pt Times New Roman, Times, Serif; width: 9%; text-align: right"><span style="-sec-ix-hidden: hidden-fact-251; font-size: 10pt"> —</span></td><td style="font: 8pt Times New Roman, Times, Serif; width: 1%; text-align: left"><span style="font-size: 10pt"> </span></td><td style="font: 8pt Times New Roman, Times, Serif; width: 1%"><span style="font-size: 10pt"> </span></td>
<td style="font: 8pt Times New Roman, Times, Serif; width: 1%; text-align: left"><span style="font-size: 10pt">$</span></td><td style="font: 8pt Times New Roman, Times, Serif; width: 9%; text-align: right"><span style="-sec-ix-hidden: hidden-fact-252; font-size: 10pt"> —</span></td><td style="font: 8pt Times New Roman, Times, Serif; width: 1%; text-align: left"><span style="font-size: 10pt"> </span></td><td style="font: 8pt Times New Roman, Times, Serif; width: 1%"><span style="font-size: 10pt"> </span></td>
<td style="font: 8pt Times New Roman, Times, Serif; width: 1%; text-align: left"><span style="font-size: 10pt">$</span></td><td style="font: 8pt Times New Roman, Times, Serif; width: 9%; text-align: right"><span style="font-size: 10pt">250</span></td><td style="font: 8pt Times New Roman, Times, Serif; width: 1%; text-align: left"><span style="font-size: 10pt"> </span></td></tr>
<tr style="font: 8pt Times New Roman, Times, Serif; vertical-align: bottom; ">
<td style="font: 8pt Times New Roman, Times, Serif; text-align: left; text-indent: -9pt; padding-left: 0.25in"><span style="font-size: 10pt">Commercial
paper</span></td><td style="font: 8pt Times New Roman, Times, Serif"><span style="font-size: 10pt"> </span></td>
<td style="font: 8pt Times New Roman, Times, Serif; text-align: left"><span style="font-size: 10pt"> </span></td><td style="font: 8pt Times New Roman, Times, Serif; text-align: right"><span style="font-size: 10pt">2,210</span></td><td style="font: 8pt Times New Roman, Times, Serif; text-align: left"><span style="font-size: 10pt"> </span></td><td style="font: 8pt Times New Roman, Times, Serif"><span style="font-size: 10pt"> </span></td>
<td style="font: 8pt Times New Roman, Times, Serif; text-align: left"><span style="font-size: 10pt"> </span></td><td style="font: 8pt Times New Roman, Times, Serif; text-align: right"><span style="-sec-ix-hidden: hidden-fact-253; font-size: 10pt">—</span></td><td style="font: 8pt Times New Roman, Times, Serif; text-align: left"><span style="font-size: 10pt"> </span></td><td style="font: 8pt Times New Roman, Times, Serif"><span style="font-size: 10pt"> </span></td>
<td style="font: 8pt Times New Roman, Times, Serif; text-align: left"><span style="font-size: 10pt"> </span></td><td style="font: 8pt Times New Roman, Times, Serif; text-align: right"><span style="-sec-ix-hidden: hidden-fact-254; font-size: 10pt">—</span></td><td style="font: 8pt Times New Roman, Times, Serif; text-align: left"><span style="font-size: 10pt"> </span></td><td style="font: 8pt Times New Roman, Times, Serif"><span style="font-size: 10pt"> </span></td>
<td style="font: 8pt Times New Roman, Times, Serif; text-align: left"><span style="font-size: 10pt"> </span></td><td style="font: 8pt Times New Roman, Times, Serif; text-align: right"><span style="font-size: 10pt">2,210</span></td><td style="font: 8pt Times New Roman, Times, Serif; text-align: left"><span style="font-size: 10pt"> </span></td></tr>
<tr style="font: 8pt Times New Roman, Times, Serif; vertical-align: bottom; background-color: rgb(204,238,255)">
<td style="font: 8pt Times New Roman, Times, Serif; text-align: left; text-indent: -9pt; padding-left: 0.25in"><span style="font-size: 10pt">Corporate
notes</span></td><td style="font: 8pt Times New Roman, Times, Serif"><span style="font-size: 10pt"> </span></td>
<td style="font: 8pt Times New Roman, Times, Serif; text-align: left"><span style="font-size: 10pt"> </span></td><td style="font: 8pt Times New Roman, Times, Serif; text-align: right"><span style="font-size: 10pt">12,035</span></td><td style="font: 8pt Times New Roman, Times, Serif; text-align: left"><span style="font-size: 10pt"> </span></td><td style="font: 8pt Times New Roman, Times, Serif"><span style="font-size: 10pt"> </span></td>
<td style="font: 8pt Times New Roman, Times, Serif; text-align: left"><span style="font-size: 10pt"> </span></td><td style="font: 8pt Times New Roman, Times, Serif; text-align: right"><span style="-sec-ix-hidden: hidden-fact-255; font-size: 10pt">—</span></td><td style="font: 8pt Times New Roman, Times, Serif; text-align: left"><span style="font-size: 10pt"> </span></td><td style="font: 8pt Times New Roman, Times, Serif"><span style="font-size: 10pt"> </span></td>
<td style="font: 8pt Times New Roman, Times, Serif; text-align: left"><span style="font-size: 10pt"> </span></td><td style="font: 8pt Times New Roman, Times, Serif; text-align: right"><span style="font-size: 10pt">(11</span></td><td style="font: 8pt Times New Roman, Times, Serif; text-align: left"><span style="font-size: 10pt">)</span></td><td style="font: 8pt Times New Roman, Times, Serif"><span style="font-size: 10pt"> </span></td>
<td style="font: 8pt Times New Roman, Times, Serif; text-align: left"><span style="font-size: 10pt"> </span></td><td style="font: 8pt Times New Roman, Times, Serif; text-align: right"><span style="font-size: 10pt">12,024</span></td><td style="font: 8pt Times New Roman, Times, Serif; text-align: left"><span style="font-size: 10pt"> </span></td></tr>
<tr style="font: 8pt Times New Roman, Times, Serif; vertical-align: bottom; ">
<td style="font: 8pt Times New Roman, Times, Serif; text-align: left; padding-bottom: 1.5pt; text-indent: -9pt; padding-left: 0.25in"><span style="font-size: 10pt">Municipal
bonds</span></td><td style="font: 8pt Times New Roman, Times, Serif; padding-bottom: 1.5pt"><span style="font-size: 10pt"> </span></td>
<td style="border-bottom: Black 1.5pt solid; font: 8pt Times New Roman, Times, Serif; text-align: left"><span style="font-size: 10pt"> </span></td><td style="border-bottom: Black 1.5pt solid; font: 8pt Times New Roman, Times, Serif; text-align: right"><span style="font-size: 10pt">1.437</span></td><td style="font: 8pt Times New Roman, Times, Serif; padding-bottom: 1.5pt; text-align: left"><span style="font-size: 10pt"> </span></td><td style="font: 8pt Times New Roman, Times, Serif; padding-bottom: 1.5pt"><span style="font-size: 10pt"> </span></td>
<td style="border-bottom: Black 1.5pt solid; font: 8pt Times New Roman, Times, Serif; text-align: left"><span style="font-size: 10pt"> </span></td><td style="border-bottom: Black 1.5pt solid; font: 8pt Times New Roman, Times, Serif; text-align: right"><span style="-sec-ix-hidden: hidden-fact-256; font-size: 10pt">—</span></td><td style="font: 8pt Times New Roman, Times, Serif; padding-bottom: 1.5pt; text-align: left"><span style="font-size: 10pt"> </span></td><td style="font: 8pt Times New Roman, Times, Serif; padding-bottom: 1.5pt"><span style="font-size: 10pt"> </span></td>
<td style="border-bottom: Black 1.5pt solid; font: 8pt Times New Roman, Times, Serif; text-align: left"><span style="font-size: 10pt"> </span></td><td style="border-bottom: Black 1.5pt solid; font: 8pt Times New Roman, Times, Serif; text-align: right"><span style="-sec-ix-hidden: hidden-fact-257; font-size: 10pt">—</span></td><td style="font: 8pt Times New Roman, Times, Serif; padding-bottom: 1.5pt; text-align: left"><span style="font-size: 10pt"> </span></td><td style="font: 8pt Times New Roman, Times, Serif; padding-bottom: 1.5pt"><span style="font-size: 10pt"> </span></td>
<td style="border-bottom: Black 1.5pt solid; font: 8pt Times New Roman, Times, Serif; text-align: left"><span style="font-size: 10pt"> </span></td><td style="border-bottom: Black 1.5pt solid; font: 8pt Times New Roman, Times, Serif; text-align: right"><span style="font-size: 10pt">1,437</span></td><td style="font: 8pt Times New Roman, Times, Serif; padding-bottom: 1.5pt; text-align: left"><span style="font-size: 10pt"> </span></td></tr>
<tr style="font: 8pt Times New Roman, Times, Serif; vertical-align: bottom; background-color: rgb(204,238,255)">
<td style="font: 8pt Times New Roman, Times, Serif; text-align: left; padding-bottom: 4pt; text-indent: -9pt; padding-left: 9pt"><span style="font-size: 10pt">Total
short-term investments</span></td><td style="font: 8pt Times New Roman, Times, Serif; padding-bottom: 4pt"><span style="font-size: 10pt"> </span></td>
<td style="border-bottom: Black 4pt double; font: 8pt Times New Roman, Times, Serif; text-align: left"><span style="font-size: 10pt">$</span></td><td style="border-bottom: Black 4pt double; font: 8pt Times New Roman, Times, Serif; text-align: right"><span style="font-size: 10pt">15,932</span></td><td style="font: 8pt Times New Roman, Times, Serif; padding-bottom: 4pt; text-align: left"><span style="font-size: 10pt"> </span></td><td style="font: 8pt Times New Roman, Times, Serif; padding-bottom: 4pt"><span style="font-size: 10pt"> </span></td>
<td style="border-bottom: Black 4pt double; font: 8pt Times New Roman, Times, Serif; text-align: left"><span style="font-size: 10pt">$</span></td><td style="border-bottom: Black 4pt double; font: 8pt Times New Roman, Times, Serif; text-align: right"><span style="-sec-ix-hidden: hidden-fact-258; font-size: 10pt">—</span></td><td style="font: 8pt Times New Roman, Times, Serif; padding-bottom: 4pt; text-align: left"><span style="font-size: 10pt"> </span></td><td style="font: 8pt Times New Roman, Times, Serif; padding-bottom: 4pt"><span style="font-size: 10pt"> </span></td>
<td style="border-bottom: Black 4pt double; font: 8pt Times New Roman, Times, Serif; text-align: left"><span style="font-size: 10pt">$</span></td><td style="border-bottom: Black 4pt double; font: 8pt Times New Roman, Times, Serif; text-align: right"><span style="font-size: 10pt">(11</span></td><td style="font: 8pt Times New Roman, Times, Serif; padding-bottom: 2pt; text-align: left"><span style="font-size: 10pt">)</span></td><td style="font: 8pt Times New Roman, Times, Serif; padding-bottom: 4pt"><span style="font-size: 10pt"> </span></td>
<td style="border-bottom: Black 4pt double; font: 8pt Times New Roman, Times, Serif; text-align: left"><span style="font-size: 10pt">$</span></td><td style="border-bottom: Black 4pt double; font: 8pt Times New Roman, Times, Serif; text-align: right"><span style="font-size: 10pt">15,921</span></td><td style="font: 8pt Times New Roman, Times, Serif; padding-bottom: 4pt; text-align: left"><span style="font-size: 10pt"> </span></td></tr>
</table><p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify"> </p><p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify">As of June 30, 2022 and December 31, 2021, the
gross unrealized loss on available-for-sale short-term investments was immaterial and there were no expected credit losses related to
the Company’s available-for-sale debt securities. The Company has determined that all unrealized losses are temporary. As of June
30, 2022 and December 31, 2021, no allowance for credit losses in short-term investments was recorded.</p><p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0"> </p><p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0"><span style="font-family: Times New Roman, Times, Serif">No sales
of available-for-sale short-term investments occurred during the three and six months ended June 30, 2022 and 2021.</span></p>
<table cellpadding="0" cellspacing="0" style="font: 8pt Times New Roman, Times, Serif; border-collapse: collapse; width: 100%">
<tr style="font: 8pt Times New Roman, Times, Serif; vertical-align: bottom">
<td style="font: 8pt Times New Roman, Times, Serif"><span style="font-size: 10pt"> </span></td><td style="font: bold 8pt Times New Roman, Times, Serif"><span style="font-size: 10pt"> </span></td>
<td colspan="2" style="font: bold 8pt Times New Roman, Times, Serif; text-align: center"><span style="font-size: 10pt">June 30,<br/></span></td><td style="font: bold 8pt Times New Roman, Times, Serif"><span style="font-size: 10pt"> </span></td><td style="font: bold 8pt Times New Roman, Times, Serif"><span style="font-size: 10pt"> </span></td>
<td colspan="2" style="font: bold 8pt Times New Roman, Times, Serif; text-align: center"><span style="font-size: 10pt">December 31,<br/></span></td><td style="font: bold 8pt Times New Roman, Times, Serif"><span style="font-size: 10pt"> </span></td></tr>
<tr style="font: 8pt Times New Roman, Times, Serif; vertical-align: bottom">
<td style="font: 8pt Times New Roman, Times, Serif"><span style="font-size: 10pt"> </span></td><td style="font: bold 8pt Times New Roman, Times, Serif; padding-bottom: 1.5pt"><span style="font-size: 10pt"> </span></td>
<td colspan="2" style="border-bottom: Black 1.5pt solid; font: bold 8pt Times New Roman, Times, Serif; text-align: center"><span style="font-size: 10pt">2022</span></td><td style="font: bold 8pt Times New Roman, Times, Serif; padding-bottom: 1.5pt"><span style="font-size: 10pt"> </span></td><td style="font: bold 8pt Times New Roman, Times, Serif; padding-bottom: 1.5pt"><span style="font-size: 10pt"> </span></td>
<td colspan="2" style="border-bottom: Black 1.5pt solid; font: bold 8pt Times New Roman, Times, Serif; text-align: center"><span style="font-size: 10pt">2021</span></td><td style="font: bold 8pt Times New Roman, Times, Serif; padding-bottom: 1.5pt"><span style="font-size: 10pt"> </span></td></tr>
<tr style="font: 8pt Times New Roman, Times, Serif; vertical-align: bottom">
<td style="font: 8pt Times New Roman, Times, Serif"><span style="font-size: 10pt">Cash and cash equivalents:</span></td><td style="font: 8pt Times New Roman, Times, Serif"><span style="font-size: 10pt"> </span></td>
<td colspan="2" style="font: 8pt Times New Roman, Times, Serif"><span style="font-size: 10pt"> </span></td><td style="font: 8pt Times New Roman, Times, Serif"><span style="font-size: 10pt"> </span></td><td style="font: 8pt Times New Roman, Times, Serif"><span style="font-size: 10pt"> </span></td>
<td colspan="2" style="font: 8pt Times New Roman, Times, Serif"><span style="font-size: 10pt"> </span></td><td style="font: 8pt Times New Roman, Times, Serif"><span style="font-size: 10pt"> </span></td></tr>
<tr style="font: 8pt Times New Roman, Times, Serif; vertical-align: bottom; background-color: rgb(204,238,255)">
<td style="font: 8pt Times New Roman, Times, Serif; padding-left: 0.125in; width: 76%"><span style="font-size: 10pt">Cash</span></td><td style="font: 8pt Times New Roman, Times, Serif; width: 1%"><span style="font-size: 10pt"> </span></td>
<td style="font: 8pt Times New Roman, Times, Serif; width: 1%; text-align: left"><span style="font-size: 10pt">$</span></td><td style="font: 8pt Times New Roman, Times, Serif; width: 9%; text-align: right"><span style="font-size: 10pt">1,469</span></td><td style="font: 8pt Times New Roman, Times, Serif; width: 1%; text-align: left"><span style="font-size: 10pt"> </span></td><td style="font: 8pt Times New Roman, Times, Serif; width: 1%"><span style="font-size: 10pt"> </span></td>
<td style="font: 8pt Times New Roman, Times, Serif; width: 1%; text-align: left"><span style="font-size: 10pt">$</span></td><td style="font: 8pt Times New Roman, Times, Serif; width: 9%; text-align: right"><span style="font-size: 10pt">845</span></td><td style="font: 8pt Times New Roman, Times, Serif; width: 1%; text-align: left"><span style="font-size: 10pt"> </span></td></tr>
<tr style="font: 8pt Times New Roman, Times, Serif; vertical-align: bottom; ">
<td style="font: 8pt Times New Roman, Times, Serif; padding-left: 0.125in; text-align: left; padding-bottom: 1.5pt"><span style="font-size: 10pt">Money
market funds</span></td><td style="font: 8pt Times New Roman, Times, Serif; padding-bottom: 1.5pt"><span style="font-size: 10pt"> </span></td>
<td style="border-bottom: Black 1.5pt solid; font: 8pt Times New Roman, Times, Serif; text-align: left"><span style="font-size: 10pt"> </span></td><td style="border-bottom: Black 1.5pt solid; font: 8pt Times New Roman, Times, Serif; text-align: right"><span style="font-size: 10pt">15,620</span></td><td style="font: 8pt Times New Roman, Times, Serif; padding-bottom: 1.5pt; text-align: left"><span style="font-size: 10pt"> </span></td><td style="font: 8pt Times New Roman, Times, Serif; padding-bottom: 1.5pt"><span style="font-size: 10pt"> </span></td>
<td style="border-bottom: Black 1.5pt solid; font: 8pt Times New Roman, Times, Serif; text-align: left"><span style="font-size: 10pt"> </span></td><td style="border-bottom: Black 1.5pt solid; font: 8pt Times New Roman, Times, Serif; text-align: right"><span style="font-size: 10pt">16,830</span></td><td style="font: 8pt Times New Roman, Times, Serif; padding-bottom: 1.5pt; text-align: left"><span style="font-size: 10pt"> </span></td></tr>
<tr style="font: 8pt Times New Roman, Times, Serif; vertical-align: bottom; background-color: rgb(204,238,255)">
<td style="font: 8pt Times New Roman, Times, Serif; text-align: left; padding-bottom: 4pt"><span style="font-size: 10pt">Total cash
and cash equivalents</span></td><td style="font: 8pt Times New Roman, Times, Serif; padding-bottom: 4pt"><span style="font-size: 10pt"> </span></td>
<td style="border-bottom: Black 4pt double; font: 8pt Times New Roman, Times, Serif; text-align: left"><span style="font-size: 10pt">$</span></td><td style="border-bottom: Black 4pt double; font: 8pt Times New Roman, Times, Serif; text-align: right"><span style="font-size: 10pt">17,089</span></td><td style="font: 8pt Times New Roman, Times, Serif; padding-bottom: 4pt; text-align: left"><span style="font-size: 10pt"> </span></td><td style="font: 8pt Times New Roman, Times, Serif; padding-bottom: 4pt"><span style="font-size: 10pt"> </span></td>
<td style="border-bottom: Black 4pt double; font: 8pt Times New Roman, Times, Serif; text-align: left"><span style="font-size: 10pt">$</span></td><td style="border-bottom: Black 4pt double; font: 8pt Times New Roman, Times, Serif; text-align: right"><span style="font-size: 10pt">17,675</span></td><td style="font: 8pt Times New Roman, Times, Serif; padding-bottom: 4pt; text-align: left"><span style="font-size: 10pt"> </span></td></tr>
<tr style="font: 8pt Times New Roman, Times, Serif; vertical-align: bottom; ">
<td style="font: 8pt Times New Roman, Times, Serif"><span style="font-size: 10pt"> </span></td><td style="font: 8pt Times New Roman, Times, Serif"><span style="font-size: 10pt"> </span></td>
<td style="font: 8pt Times New Roman, Times, Serif; text-align: left"><span style="font-size: 10pt"> </span></td><td style="font: 8pt Times New Roman, Times, Serif; text-align: right"><span style="font-size: 10pt"> </span></td><td style="font: 8pt Times New Roman, Times, Serif; text-align: left"><span style="font-size: 10pt"> </span></td><td style="font: 8pt Times New Roman, Times, Serif"><span style="font-size: 10pt"> </span></td>
<td style="font: 8pt Times New Roman, Times, Serif; text-align: left"><span style="font-size: 10pt"> </span></td><td style="font: 8pt Times New Roman, Times, Serif; text-align: right"><span style="font-size: 10pt"> </span></td><td style="font: 8pt Times New Roman, Times, Serif; text-align: left"><span style="font-size: 10pt"> </span></td></tr>
<tr style="font: 8pt Times New Roman, Times, Serif; vertical-align: bottom; background-color: rgb(204,238,255)">
<td style="font: 8pt Times New Roman, Times, Serif; text-align: left"><span style="font-size: 10pt">Short-term investments:</span></td><td style="font: 8pt Times New Roman, Times, Serif"><span style="font-size: 10pt"> </span></td>
<td style="font: 8pt Times New Roman, Times, Serif; text-align: left"><span style="font-size: 10pt"> </span></td><td style="font: 8pt Times New Roman, Times, Serif; text-align: right"><span style="font-size: 10pt"> </span></td><td style="font: 8pt Times New Roman, Times, Serif; text-align: left"><span style="font-size: 10pt"> </span></td><td style="font: 8pt Times New Roman, Times, Serif"><span style="font-size: 10pt"> </span></td>
<td style="font: 8pt Times New Roman, Times, Serif; text-align: left"><span style="font-size: 10pt"> </span></td><td style="font: 8pt Times New Roman, Times, Serif; text-align: right"><span style="font-size: 10pt"> </span></td><td style="font: 8pt Times New Roman, Times, Serif; text-align: left"><span style="font-size: 10pt"> </span></td></tr>
<tr style="font: 8pt Times New Roman, Times, Serif; vertical-align: bottom; ">
<td style="font: 8pt Times New Roman, Times, Serif; padding-left: 0.125in"><span style="font-size: 10pt">Certificates of deposit</span></td><td style="font: 8pt Times New Roman, Times, Serif"><span style="font-size: 10pt"> </span></td>
<td style="font: 8pt Times New Roman, Times, Serif; text-align: left"><span style="font-size: 10pt">$</span></td><td style="font: 8pt Times New Roman, Times, Serif; text-align: right"><span style="font-size: 10pt">249</span></td><td style="font: 8pt Times New Roman, Times, Serif; text-align: left"><span style="font-size: 10pt"> </span></td><td style="font: 8pt Times New Roman, Times, Serif"><span style="font-size: 10pt"> </span></td>
<td style="font: 8pt Times New Roman, Times, Serif; text-align: left"><span style="font-size: 10pt">$</span></td><td style="font: 8pt Times New Roman, Times, Serif; text-align: right"><span style="font-size: 10pt">250</span></td><td style="font: 8pt Times New Roman, Times, Serif; text-align: left"><span style="font-size: 10pt"> </span></td></tr>
<tr style="font: 8pt Times New Roman, Times, Serif; vertical-align: bottom; background-color: rgb(204,238,255)">
<td style="font: 8pt Times New Roman, Times, Serif; padding-left: 0.125in; text-align: left"><span style="font-size: 10pt">Commercial
paper</span></td><td style="font: 8pt Times New Roman, Times, Serif"><span style="font-size: 10pt"> </span></td>
<td style="font: 8pt Times New Roman, Times, Serif; text-align: left"><span style="font-size: 10pt"> </span></td><td style="font: 8pt Times New Roman, Times, Serif; text-align: right"><span style="font-size: 10pt">550</span></td><td style="font: 8pt Times New Roman, Times, Serif; text-align: left"><span style="font-size: 10pt"> </span></td><td style="font: 8pt Times New Roman, Times, Serif"><span style="font-size: 10pt"> </span></td>
<td style="font: 8pt Times New Roman, Times, Serif; text-align: left"><span style="font-size: 10pt"> </span></td><td style="font: 8pt Times New Roman, Times, Serif; text-align: right"><span style="font-size: 10pt">2,210</span></td><td style="font: 8pt Times New Roman, Times, Serif; text-align: left"><span style="font-size: 10pt"> </span></td></tr>
<tr style="font: 8pt Times New Roman, Times, Serif; vertical-align: bottom; ">
<td style="font: 8pt Times New Roman, Times, Serif; padding-left: 0.125in; text-align: left"><span style="font-size: 10pt">Corporate
notes</span></td><td style="font: 8pt Times New Roman, Times, Serif"><span style="font-size: 10pt"> </span></td>
<td style="font: 8pt Times New Roman, Times, Serif; text-align: left"><span style="font-size: 10pt"> </span></td><td style="font: 8pt Times New Roman, Times, Serif; text-align: right"><span style="font-size: 10pt">3,415</span></td><td style="font: 8pt Times New Roman, Times, Serif; text-align: left"><span style="font-size: 10pt"> </span></td><td style="font: 8pt Times New Roman, Times, Serif"><span style="font-size: 10pt"> </span></td>
<td style="font: 8pt Times New Roman, Times, Serif; text-align: left"><span style="font-size: 10pt"> </span></td><td style="font: 8pt Times New Roman, Times, Serif; text-align: right"><span style="font-size: 10pt">12,024</span></td><td style="font: 8pt Times New Roman, Times, Serif; text-align: left"><span style="font-size: 10pt"> </span></td></tr>
<tr style="font: 8pt Times New Roman, Times, Serif; vertical-align: bottom; background-color: rgb(204,238,255)">
<td style="font: 8pt Times New Roman, Times, Serif; padding-left: 0.125in; text-align: left; padding-bottom: 1.5pt"><span style="font-size: 10pt">Municipal
bonds</span></td><td style="font: 8pt Times New Roman, Times, Serif; padding-bottom: 1.5pt"><span style="font-size: 10pt"> </span></td>
<td style="border-bottom: Black 1.5pt solid; font: 8pt Times New Roman, Times, Serif; text-align: left"><span style="font-size: 10pt"> </span></td><td style="border-bottom: Black 1.5pt solid; font: 8pt Times New Roman, Times, Serif; text-align: right"><span style="-sec-ix-hidden: hidden-fact-241; font-size: 10pt">—</span></td><td style="font: 8pt Times New Roman, Times, Serif; padding-bottom: 1.5pt; text-align: left"><span style="font-size: 10pt"> </span></td><td style="font: 8pt Times New Roman, Times, Serif; padding-bottom: 1.5pt"><span style="font-size: 10pt"> </span></td>
<td style="border-bottom: Black 1.5pt solid; font: 8pt Times New Roman, Times, Serif; text-align: left"><span style="font-size: 10pt"> </span></td><td style="border-bottom: Black 1.5pt solid; font: 8pt Times New Roman, Times, Serif; text-align: right"><span style="font-size: 10pt">1,437</span></td><td style="font: 8pt Times New Roman, Times, Serif; padding-bottom: 1.5pt; text-align: left"><span style="font-size: 10pt"> </span></td></tr>
<tr style="font: 8pt Times New Roman, Times, Serif; vertical-align: bottom; ">
<td style="font: 8pt Times New Roman, Times, Serif; text-align: left; padding-bottom: 4pt"><span style="font-size: 10pt">Total short-term
investments</span></td><td style="font: 8pt Times New Roman, Times, Serif; padding-bottom: 4pt"><span style="font-size: 10pt"> </span></td>
<td style="border-bottom: Black 4pt double; font: 8pt Times New Roman, Times, Serif; text-align: left"><span style="font-size: 10pt">$</span></td><td style="border-bottom: Black 4pt double; font: 8pt Times New Roman, Times, Serif; text-align: right"><span style="font-size: 10pt">4,214</span></td><td style="font: 8pt Times New Roman, Times, Serif; padding-bottom: 4pt; text-align: left"><span style="font-size: 10pt"> </span></td><td style="font: 8pt Times New Roman, Times, Serif; padding-bottom: 4pt"><span style="font-size: 10pt"> </span></td>
<td style="border-bottom: Black 4pt double; font: 8pt Times New Roman, Times, Serif; text-align: left"><span style="font-size: 10pt">$</span></td><td style="border-bottom: Black 4pt double; font: 8pt Times New Roman, Times, Serif; text-align: right"><span style="font-size: 10pt">15,921</span></td><td style="font: 8pt Times New Roman, Times, Serif; padding-bottom: 4pt; text-align: left"><span style="font-size: 10pt"> </span></td></tr>
</table><p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify"> </p>
1469000
845000
15620000
16830000
17089000
17675000
249000
250000
550000
2210000
3415000
12024000
1437000
4214000
15921000
<table cellpadding="0" cellspacing="0" style="font: 8pt Times New Roman, Times, Serif; border-collapse: collapse; width: 100%">
<tr style="font: 8pt Times New Roman, Times, Serif; vertical-align: bottom">
<td style="font: 8pt Times New Roman, Times, Serif"><span style="font-size: 10pt"> </span></td><td style="font: bold 8pt Times New Roman, Times, Serif; padding-bottom: 1.5pt"><span style="font-size: 10pt"> </span></td>
<td colspan="2" style="border-bottom: Black 1.5pt solid; font: bold 8pt Times New Roman, Times, Serif; text-align: center"><span style="font-size: 10pt">June
30,<br/>
2022</span></td><td style="font: bold 8pt Times New Roman, Times, Serif; padding-bottom: 1.5pt"><span style="font-size: 10pt"> </span></td></tr>
<tr style="font: 8pt Times New Roman, Times, Serif; vertical-align: bottom">
<td style="font: 8pt Times New Roman, Times, Serif"><span style="font-size: 10pt"> </span></td><td style="font: 8pt Times New Roman, Times, Serif"><span style="font-size: 10pt"> </span></td>
<td colspan="2" style="font: 8pt Times New Roman, Times, Serif"><span style="font-size: 10pt"> </span></td><td style="font: 8pt Times New Roman, Times, Serif"><span style="font-size: 10pt"> </span></td></tr>
<tr style="font: 8pt Times New Roman, Times, Serif; vertical-align: bottom; background-color: rgb(204,238,255)">
<td style="font: 8pt Times New Roman, Times, Serif; width: 88%; text-align: left"><span style="font-size: 10pt">Due within one year</span></td><td style="font: 8pt Times New Roman, Times, Serif; width: 1%"><span style="font-size: 10pt"> </span></td>
<td style="font: 8pt Times New Roman, Times, Serif; width: 1%; text-align: left"><span style="font-size: 10pt">$</span></td><td style="font: 8pt Times New Roman, Times, Serif; width: 9%; text-align: right"><span style="font-size: 10pt">4,214</span></td><td style="font: 8pt Times New Roman, Times, Serif; width: 1%; text-align: left"><span style="font-size: 10pt"> </span></td></tr>
<tr style="font: 8pt Times New Roman, Times, Serif; vertical-align: bottom; ">
<td style="font: 8pt Times New Roman, Times, Serif; text-align: left; padding-bottom: 1.5pt"><span style="font-size: 10pt">Due after
one year through five years</span></td><td style="font: 8pt Times New Roman, Times, Serif; padding-bottom: 1.5pt"><span style="font-size: 10pt"> </span></td>
<td style="border-bottom: Black 1.5pt solid; font: 8pt Times New Roman, Times, Serif; text-align: left"><span style="font-size: 10pt"> </span></td><td style="border-bottom: Black 1.5pt solid; font: 8pt Times New Roman, Times, Serif; text-align: right"><span style="-sec-ix-hidden: hidden-fact-242; font-size: 10pt">—</span></td><td style="font: 8pt Times New Roman, Times, Serif; padding-bottom: 1.5pt; text-align: left"><span style="font-size: 10pt"> </span></td></tr>
<tr style="font: 8pt Times New Roman, Times, Serif; vertical-align: bottom; background-color: rgb(204,238,255)">
<td style="font: 8pt Times New Roman, Times, Serif; padding-bottom: 4pt"><span style="font-size: 10pt">Total</span></td><td style="font: 8pt Times New Roman, Times, Serif; padding-bottom: 4pt"><span style="font-size: 10pt"> </span></td>
<td style="border-bottom: Black 4pt double; font: 8pt Times New Roman, Times, Serif; text-align: left"><span style="font-size: 10pt">$</span></td><td style="border-bottom: Black 4pt double; font: 8pt Times New Roman, Times, Serif; text-align: right"><span style="font-size: 10pt">4,214</span></td><td style="font: 8pt Times New Roman, Times, Serif; padding-bottom: 4pt; text-align: left"><span style="font-size: 10pt"> </span></td></tr>
</table><p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify"> </p>
4214000
4214000
<table cellpadding="0" cellspacing="0" style="font: 8pt Times New Roman, Times, Serif; border-collapse: collapse; width: 100%">
<tr>
<td> </td><td style="font-size: 10pt; font-weight: bold; padding-bottom: 1.5pt"> </td>
<td colspan="14" style="font-size: 10pt; font-weight: bold; text-align: center; border-bottom: Black 1.5pt solid">June 30, 2022</td><td style="padding-bottom: 1.5pt; font-size: 10pt; font-weight: bold"> </td></tr>
<tr>
<td> </td><td style="font-size: 10pt; font-weight: bold; padding-bottom: 1.5pt"> </td>
<td colspan="2" style="font-size: 10pt; font-weight: bold; text-align: center; border-bottom: Black 1.5pt solid">Amortized<br/> Cost</td><td style="padding-bottom: 1.5pt; font-size: 10pt; font-weight: bold"> </td><td style="font-size: 10pt; font-weight: bold; padding-bottom: 1.5pt"> </td>
<td colspan="2" style="font-size: 10pt; font-weight: bold; text-align: center; border-bottom: Black 1.5pt solid">Gross<br/> Unrealized<br/>
Gains</td><td style="padding-bottom: 1.5pt; font-size: 10pt; font-weight: bold"> </td><td style="font-size: 10pt; font-weight: bold; padding-bottom: 1.5pt"> </td>
<td colspan="2" style="font-size: 10pt; font-weight: bold; text-align: center; border-bottom: Black 1.5pt solid">Gross<br/> Unrealized<br/>
Losses</td><td style="padding-bottom: 1.5pt; font-size: 10pt; font-weight: bold"> </td><td style="font-size: 10pt; font-weight: bold; padding-bottom: 1.5pt"> </td>
<td colspan="2" style="font-size: 10pt; font-weight: bold; text-align: center; border-bottom: Black 1.5pt solid">Aggregate<br/> Estimated<br/>
Fair Value</td><td style="padding-bottom: 1.5pt; font-size: 10pt; font-weight: bold"> </td></tr>
<tr>
<td style="font-size: 10pt">Short-term investments:</td><td> </td>
<td colspan="2"> </td><td> </td><td> </td>
<td colspan="2"> </td><td> </td><td> </td>
<td colspan="2"> </td><td> </td><td> </td>
<td colspan="2"> </td><td> </td></tr>
<tr style="background-color: rgb(204,238,255)">
<td style="width: 52%; font-size: 10pt; padding-left: 9pt">Certificates of deposit</td><td style="width: 1%; font-size: 10pt"> </td>
<td style="width: 1%; font-size: 10pt; text-align: left">$</td><td style="width: 9%; font-size: 10pt; text-align: right">250</td><td style="width: 1%; font-size: 10pt; text-align: left"> </td><td style="width: 1%; font-size: 10pt"> </td>
<td style="width: 1%; font-size: 10pt; text-align: left">$</td><td style="width: 9%; font-size: 10pt; text-align: right"><div style="-sec-ix-hidden: hidden-fact-243"> —</div></td><td style="width: 1%; font-size: 10pt; text-align: left"> </td><td style="width: 1%; font-size: 10pt"> </td>
<td style="width: 1%; font-size: 10pt; text-align: left">$</td><td style="width: 9%; font-size: 10pt; text-align: right"> (1</td><td style="width: 1%; font-size: 10pt; text-align: left">)</td><td style="width: 1%; font-size: 10pt"> </td>
<td style="width: 1%; font-size: 10pt; text-align: left">$</td><td style="width: 9%; font-size: 10pt; text-align: right"> 249</td><td style="width: 1%; font-size: 10pt; text-align: left"> </td></tr>
<tr>
<td style="font-size: 10pt; text-align: left; padding-left: 9pt">Commercial paper</td><td style="font-size: 10pt"> </td>
<td style="font-size: 10pt; text-align: left"> </td><td style="font-size: 10pt; text-align: right">550</td><td style="font-size: 10pt; text-align: left"> </td><td style="font-size: 10pt"> </td>
<td style="font-size: 10pt; text-align: left"> </td><td style="font-size: 10pt; text-align: right"><div style="-sec-ix-hidden: hidden-fact-244">—</div></td><td style="font-size: 10pt; text-align: left"> </td><td> </td>
<td style="text-align: left"> </td><td style="text-align: right"> </td><td style="text-align: left"> </td><td style="font-size: 10pt"> </td>
<td style="font-size: 10pt; text-align: left"> </td><td style="font-size: 10pt; text-align: right">550</td><td style="font-size: 10pt; text-align: left"> </td></tr>
<tr style="background-color: rgb(204,238,255)">
<td style="font-size: 10pt; text-align: left; padding-left: 9pt">Corporate notes</td><td style="font-size: 10pt"> </td>
<td style="font-size: 10pt; text-align: left"> </td><td style="font-size: 10pt; text-align: right">3,429</td><td style="font-size: 10pt; text-align: left"> </td><td style="font-size: 10pt"> </td>
<td style="font-size: 10pt; text-align: left"> </td><td style="font-size: 10pt; text-align: right"><div style="-sec-ix-hidden: hidden-fact-245">—</div></td><td style="font-size: 10pt; text-align: left"> </td><td style="font-size: 10pt"> </td>
<td style="font-size: 10pt; text-align: left"> </td><td style="font-size: 10pt; text-align: right">(14</td><td style="font-size: 10pt; text-align: left">)</td><td style="font-size: 10pt"> </td>
<td style="font-size: 10pt; text-align: left"> </td><td style="font-size: 10pt; text-align: right">3,415</td><td style="font-size: 10pt; text-align: left"> </td></tr>
<tr>
<td style="font-size: 10pt; text-align: left; padding-bottom: 1.5pt; padding-left: 9pt">Municipal bonds</td><td style="font-size: 10pt; padding-bottom: 1.5pt"> </td>
<td style="border-bottom: Black 1.5pt solid; font-size: 10pt; text-align: left"> </td><td style="border-bottom: Black 1.5pt solid; font-size: 10pt; text-align: right"><div style="-sec-ix-hidden: hidden-fact-246">—</div></td><td style="padding-bottom: 1.5pt; font-size: 10pt; text-align: left"> </td><td style="font-size: 10pt; padding-bottom: 1.5pt"> </td>
<td style="border-bottom: Black 1.5pt solid; font-size: 10pt; text-align: left"> </td><td style="border-bottom: Black 1.5pt solid; font-size: 10pt; text-align: right"><div style="-sec-ix-hidden: hidden-fact-247">—</div></td><td style="padding-bottom: 1.5pt; font-size: 10pt; text-align: left"> </td><td style="font-size: 10pt; padding-bottom: 1.5pt"> </td>
<td style="border-bottom: Black 1.5pt solid; font-size: 10pt; text-align: left"> </td><td style="border-bottom: Black 1.5pt solid; font-size: 10pt; text-align: right"><div style="-sec-ix-hidden: hidden-fact-248">—</div></td><td style="padding-bottom: 1.5pt; font-size: 10pt; text-align: left"> </td><td style="font-size: 10pt; padding-bottom: 1.5pt"> </td>
<td style="border-bottom: Black 1.5pt solid; font-size: 10pt; text-align: left"> </td><td style="border-bottom: Black 1.5pt solid; font-size: 10pt; text-align: right"><div style="-sec-ix-hidden: hidden-fact-249">—</div></td><td style="padding-bottom: 1.5pt; font-size: 10pt; text-align: left"> </td></tr>
<tr style="background-color: rgb(204,238,255)">
<td style="font-size: 10pt; text-align: left; padding-bottom: 4pt">Total short-term investments</td><td style="font-size: 10pt; padding-bottom: 4pt"> </td>
<td style="border-bottom: Black 4pt double; font-size: 10pt; text-align: left">$</td><td style="border-bottom: Black 4pt double; font-size: 10pt; text-align: right">4,229</td><td style="padding-bottom: 4pt; font-size: 10pt; text-align: left"> </td><td style="font-size: 10pt; padding-bottom: 4pt"> </td>
<td style="border-bottom: Black 4pt double; font-size: 10pt; text-align: left">$</td><td style="border-bottom: Black 4pt double; font-size: 10pt; text-align: right"><div style="-sec-ix-hidden: hidden-fact-250">—</div></td><td style="padding-bottom: 4pt; font-size: 10pt; text-align: left"> </td><td style="font-size: 10pt; padding-bottom: 4pt"> </td>
<td style="border-bottom: Black 4pt double; font-size: 10pt; text-align: left">$</td><td style="border-bottom: Black 4pt double; font-size: 10pt; text-align: right">(15</td><td style="padding-bottom: 4pt; font-size: 10pt; text-align: left">)</td><td style="font-size: 10pt; padding-bottom: 4pt"> </td>
<td style="border-bottom: Black 4pt double; font-size: 10pt; text-align: left">$</td><td style="border-bottom: Black 4pt double; font-size: 10pt; text-align: right">4,214</td><td style="padding-bottom: 4pt; font-size: 10pt; text-align: left"> </td></tr>
</table><p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify"/><table cellpadding="0" cellspacing="0" style="font: 8pt Times New Roman, Times, Serif; border-collapse: collapse; width: 100%">
<tr style="font: 8pt Times New Roman, Times, Serif; vertical-align: bottom">
<td style="font: 8pt Times New Roman, Times, Serif; text-align: center"><span style="font-size: 10pt"> </span></td><td style="font: bold 8pt Times New Roman, Times, Serif; padding-bottom: 1.5pt"><span style="font-size: 10pt"> </span></td>
<td colspan="14" style="border-bottom: Black 1.5pt solid; font: bold 8pt Times New Roman, Times, Serif; text-align: center"><span style="font-size: 10pt">December 31,
2021</span></td><td style="font: bold 8pt Times New Roman, Times, Serif; padding-bottom: 1.5pt"><span style="font-size: 10pt"> </span></td></tr>
<tr style="font: 8pt Times New Roman, Times, Serif; vertical-align: bottom">
<td style="font: 8pt Times New Roman, Times, Serif; text-align: center"><span style="font-size: 10pt"> </span></td><td style="font: bold 8pt Times New Roman, Times, Serif; padding-bottom: 1.5pt"><span style="font-size: 10pt"> </span></td>
<td colspan="2" style="border-bottom: Black 1.5pt solid; font: bold 8pt Times New Roman, Times, Serif; text-align: center"><span style="font-size: 10pt">Amortized<br/>
Cost</span></td><td style="font: bold 8pt Times New Roman, Times, Serif; padding-bottom: 1.5pt"><span style="font-size: 10pt"> </span></td><td style="font: bold 8pt Times New Roman, Times, Serif; padding-bottom: 1.5pt"><span style="font-size: 10pt"> </span></td>
<td colspan="2" style="border-bottom: Black 1.5pt solid; font: bold 8pt Times New Roman, Times, Serif; text-align: center"><span style="font-size: 10pt">Gross<br/>
Unrealized<br/> Gains</span></td><td style="font: bold 8pt Times New Roman, Times, Serif; padding-bottom: 1.5pt"><span style="font-size: 10pt"> </span></td><td style="font: bold 8pt Times New Roman, Times, Serif; padding-bottom: 1.5pt"><span style="font-size: 10pt"> </span></td>
<td colspan="2" style="border-bottom: Black 1.5pt solid; font: bold 8pt Times New Roman, Times, Serif; text-align: center"><span style="font-size: 10pt">Gross<br/>
Unrealized<br/> Losses</span></td><td style="font: bold 8pt Times New Roman, Times, Serif; padding-bottom: 1.5pt"><span style="font-size: 10pt"> </span></td><td style="font: bold 8pt Times New Roman, Times, Serif; padding-bottom: 1.5pt"><span style="font-size: 10pt"> </span></td>
<td colspan="2" style="border-bottom: Black 1.5pt solid; font: bold 8pt Times New Roman, Times, Serif; text-align: center"><span style="font-size: 10pt">Aggregate<br/>
Estimated<br/> Fair Value</span></td><td style="font: bold 8pt Times New Roman, Times, Serif; padding-bottom: 1.5pt"><span style="font-size: 10pt"> </span></td></tr>
<tr style="font: 8pt Times New Roman, Times, Serif; vertical-align: bottom">
<td style="font: 8pt Times New Roman, Times, Serif"><span style="font-size: 10pt">Short-term investments:</span></td><td style="font: 8pt Times New Roman, Times, Serif"><span style="font-size: 10pt"> </span></td>
<td colspan="2" style="font: 8pt Times New Roman, Times, Serif; text-align: right"><span style="font-size: 10pt"> </span></td><td style="font: 8pt Times New Roman, Times, Serif"><span style="font-size: 10pt"> </span></td><td style="font: 8pt Times New Roman, Times, Serif"><span style="font-size: 10pt"> </span></td>
<td colspan="2" style="font: 8pt Times New Roman, Times, Serif; text-align: right"><span style="font-size: 10pt"> </span></td><td style="font: 8pt Times New Roman, Times, Serif"><span style="font-size: 10pt"> </span></td><td style="font: 8pt Times New Roman, Times, Serif"><span style="font-size: 10pt"> </span></td>
<td colspan="2" style="font: 8pt Times New Roman, Times, Serif; text-align: right"><span style="font-size: 10pt"> </span></td><td style="font: 8pt Times New Roman, Times, Serif"><span style="font-size: 10pt"> </span></td><td style="font: 8pt Times New Roman, Times, Serif"><span style="font-size: 10pt"> </span></td>
<td colspan="2" style="font: 8pt Times New Roman, Times, Serif; text-align: right"><span style="font-size: 10pt"> </span></td><td style="font: 8pt Times New Roman, Times, Serif"><span style="font-size: 10pt"> </span></td></tr>
<tr style="font: 8pt Times New Roman, Times, Serif; vertical-align: bottom; background-color: rgb(204,238,255)">
<td style="font: 8pt Times New Roman, Times, Serif; width: 52%; text-indent: -9pt; padding-left: 0.25in"><span style="font-size: 10pt">Certificates
of deposit</span></td><td style="font: 8pt Times New Roman, Times, Serif; width: 1%"><span style="font-size: 10pt"> </span></td>
<td style="font: 8pt Times New Roman, Times, Serif; width: 1%; text-align: left"><span style="font-size: 10pt">$</span></td><td style="font: 8pt Times New Roman, Times, Serif; width: 9%; text-align: right"><span style="font-size: 10pt">250</span></td><td style="font: 8pt Times New Roman, Times, Serif; width: 1%; text-align: left"><span style="font-size: 10pt"> </span></td><td style="font: 8pt Times New Roman, Times, Serif; width: 1%"><span style="font-size: 10pt"> </span></td>
<td style="font: 8pt Times New Roman, Times, Serif; width: 1%; text-align: left"><span style="font-size: 10pt">$</span></td><td style="font: 8pt Times New Roman, Times, Serif; width: 9%; text-align: right"><span style="-sec-ix-hidden: hidden-fact-251; font-size: 10pt"> —</span></td><td style="font: 8pt Times New Roman, Times, Serif; width: 1%; text-align: left"><span style="font-size: 10pt"> </span></td><td style="font: 8pt Times New Roman, Times, Serif; width: 1%"><span style="font-size: 10pt"> </span></td>
<td style="font: 8pt Times New Roman, Times, Serif; width: 1%; text-align: left"><span style="font-size: 10pt">$</span></td><td style="font: 8pt Times New Roman, Times, Serif; width: 9%; text-align: right"><span style="-sec-ix-hidden: hidden-fact-252; font-size: 10pt"> —</span></td><td style="font: 8pt Times New Roman, Times, Serif; width: 1%; text-align: left"><span style="font-size: 10pt"> </span></td><td style="font: 8pt Times New Roman, Times, Serif; width: 1%"><span style="font-size: 10pt"> </span></td>
<td style="font: 8pt Times New Roman, Times, Serif; width: 1%; text-align: left"><span style="font-size: 10pt">$</span></td><td style="font: 8pt Times New Roman, Times, Serif; width: 9%; text-align: right"><span style="font-size: 10pt">250</span></td><td style="font: 8pt Times New Roman, Times, Serif; width: 1%; text-align: left"><span style="font-size: 10pt"> </span></td></tr>
<tr style="font: 8pt Times New Roman, Times, Serif; vertical-align: bottom; ">
<td style="font: 8pt Times New Roman, Times, Serif; text-align: left; text-indent: -9pt; padding-left: 0.25in"><span style="font-size: 10pt">Commercial
paper</span></td><td style="font: 8pt Times New Roman, Times, Serif"><span style="font-size: 10pt"> </span></td>
<td style="font: 8pt Times New Roman, Times, Serif; text-align: left"><span style="font-size: 10pt"> </span></td><td style="font: 8pt Times New Roman, Times, Serif; text-align: right"><span style="font-size: 10pt">2,210</span></td><td style="font: 8pt Times New Roman, Times, Serif; text-align: left"><span style="font-size: 10pt"> </span></td><td style="font: 8pt Times New Roman, Times, Serif"><span style="font-size: 10pt"> </span></td>
<td style="font: 8pt Times New Roman, Times, Serif; text-align: left"><span style="font-size: 10pt"> </span></td><td style="font: 8pt Times New Roman, Times, Serif; text-align: right"><span style="-sec-ix-hidden: hidden-fact-253; font-size: 10pt">—</span></td><td style="font: 8pt Times New Roman, Times, Serif; text-align: left"><span style="font-size: 10pt"> </span></td><td style="font: 8pt Times New Roman, Times, Serif"><span style="font-size: 10pt"> </span></td>
<td style="font: 8pt Times New Roman, Times, Serif; text-align: left"><span style="font-size: 10pt"> </span></td><td style="font: 8pt Times New Roman, Times, Serif; text-align: right"><span style="-sec-ix-hidden: hidden-fact-254; font-size: 10pt">—</span></td><td style="font: 8pt Times New Roman, Times, Serif; text-align: left"><span style="font-size: 10pt"> </span></td><td style="font: 8pt Times New Roman, Times, Serif"><span style="font-size: 10pt"> </span></td>
<td style="font: 8pt Times New Roman, Times, Serif; text-align: left"><span style="font-size: 10pt"> </span></td><td style="font: 8pt Times New Roman, Times, Serif; text-align: right"><span style="font-size: 10pt">2,210</span></td><td style="font: 8pt Times New Roman, Times, Serif; text-align: left"><span style="font-size: 10pt"> </span></td></tr>
<tr style="font: 8pt Times New Roman, Times, Serif; vertical-align: bottom; background-color: rgb(204,238,255)">
<td style="font: 8pt Times New Roman, Times, Serif; text-align: left; text-indent: -9pt; padding-left: 0.25in"><span style="font-size: 10pt">Corporate
notes</span></td><td style="font: 8pt Times New Roman, Times, Serif"><span style="font-size: 10pt"> </span></td>
<td style="font: 8pt Times New Roman, Times, Serif; text-align: left"><span style="font-size: 10pt"> </span></td><td style="font: 8pt Times New Roman, Times, Serif; text-align: right"><span style="font-size: 10pt">12,035</span></td><td style="font: 8pt Times New Roman, Times, Serif; text-align: left"><span style="font-size: 10pt"> </span></td><td style="font: 8pt Times New Roman, Times, Serif"><span style="font-size: 10pt"> </span></td>
<td style="font: 8pt Times New Roman, Times, Serif; text-align: left"><span style="font-size: 10pt"> </span></td><td style="font: 8pt Times New Roman, Times, Serif; text-align: right"><span style="-sec-ix-hidden: hidden-fact-255; font-size: 10pt">—</span></td><td style="font: 8pt Times New Roman, Times, Serif; text-align: left"><span style="font-size: 10pt"> </span></td><td style="font: 8pt Times New Roman, Times, Serif"><span style="font-size: 10pt"> </span></td>
<td style="font: 8pt Times New Roman, Times, Serif; text-align: left"><span style="font-size: 10pt"> </span></td><td style="font: 8pt Times New Roman, Times, Serif; text-align: right"><span style="font-size: 10pt">(11</span></td><td style="font: 8pt Times New Roman, Times, Serif; text-align: left"><span style="font-size: 10pt">)</span></td><td style="font: 8pt Times New Roman, Times, Serif"><span style="font-size: 10pt"> </span></td>
<td style="font: 8pt Times New Roman, Times, Serif; text-align: left"><span style="font-size: 10pt"> </span></td><td style="font: 8pt Times New Roman, Times, Serif; text-align: right"><span style="font-size: 10pt">12,024</span></td><td style="font: 8pt Times New Roman, Times, Serif; text-align: left"><span style="font-size: 10pt"> </span></td></tr>
<tr style="font: 8pt Times New Roman, Times, Serif; vertical-align: bottom; ">
<td style="font: 8pt Times New Roman, Times, Serif; text-align: left; padding-bottom: 1.5pt; text-indent: -9pt; padding-left: 0.25in"><span style="font-size: 10pt">Municipal
bonds</span></td><td style="font: 8pt Times New Roman, Times, Serif; padding-bottom: 1.5pt"><span style="font-size: 10pt"> </span></td>
<td style="border-bottom: Black 1.5pt solid; font: 8pt Times New Roman, Times, Serif; text-align: left"><span style="font-size: 10pt"> </span></td><td style="border-bottom: Black 1.5pt solid; font: 8pt Times New Roman, Times, Serif; text-align: right"><span style="font-size: 10pt">1.437</span></td><td style="font: 8pt Times New Roman, Times, Serif; padding-bottom: 1.5pt; text-align: left"><span style="font-size: 10pt"> </span></td><td style="font: 8pt Times New Roman, Times, Serif; padding-bottom: 1.5pt"><span style="font-size: 10pt"> </span></td>
<td style="border-bottom: Black 1.5pt solid; font: 8pt Times New Roman, Times, Serif; text-align: left"><span style="font-size: 10pt"> </span></td><td style="border-bottom: Black 1.5pt solid; font: 8pt Times New Roman, Times, Serif; text-align: right"><span style="-sec-ix-hidden: hidden-fact-256; font-size: 10pt">—</span></td><td style="font: 8pt Times New Roman, Times, Serif; padding-bottom: 1.5pt; text-align: left"><span style="font-size: 10pt"> </span></td><td style="font: 8pt Times New Roman, Times, Serif; padding-bottom: 1.5pt"><span style="font-size: 10pt"> </span></td>
<td style="border-bottom: Black 1.5pt solid; font: 8pt Times New Roman, Times, Serif; text-align: left"><span style="font-size: 10pt"> </span></td><td style="border-bottom: Black 1.5pt solid; font: 8pt Times New Roman, Times, Serif; text-align: right"><span style="-sec-ix-hidden: hidden-fact-257; font-size: 10pt">—</span></td><td style="font: 8pt Times New Roman, Times, Serif; padding-bottom: 1.5pt; text-align: left"><span style="font-size: 10pt"> </span></td><td style="font: 8pt Times New Roman, Times, Serif; padding-bottom: 1.5pt"><span style="font-size: 10pt"> </span></td>
<td style="border-bottom: Black 1.5pt solid; font: 8pt Times New Roman, Times, Serif; text-align: left"><span style="font-size: 10pt"> </span></td><td style="border-bottom: Black 1.5pt solid; font: 8pt Times New Roman, Times, Serif; text-align: right"><span style="font-size: 10pt">1,437</span></td><td style="font: 8pt Times New Roman, Times, Serif; padding-bottom: 1.5pt; text-align: left"><span style="font-size: 10pt"> </span></td></tr>
<tr style="font: 8pt Times New Roman, Times, Serif; vertical-align: bottom; background-color: rgb(204,238,255)">
<td style="font: 8pt Times New Roman, Times, Serif; text-align: left; padding-bottom: 4pt; text-indent: -9pt; padding-left: 9pt"><span style="font-size: 10pt">Total
short-term investments</span></td><td style="font: 8pt Times New Roman, Times, Serif; padding-bottom: 4pt"><span style="font-size: 10pt"> </span></td>
<td style="border-bottom: Black 4pt double; font: 8pt Times New Roman, Times, Serif; text-align: left"><span style="font-size: 10pt">$</span></td><td style="border-bottom: Black 4pt double; font: 8pt Times New Roman, Times, Serif; text-align: right"><span style="font-size: 10pt">15,932</span></td><td style="font: 8pt Times New Roman, Times, Serif; padding-bottom: 4pt; text-align: left"><span style="font-size: 10pt"> </span></td><td style="font: 8pt Times New Roman, Times, Serif; padding-bottom: 4pt"><span style="font-size: 10pt"> </span></td>
<td style="border-bottom: Black 4pt double; font: 8pt Times New Roman, Times, Serif; text-align: left"><span style="font-size: 10pt">$</span></td><td style="border-bottom: Black 4pt double; font: 8pt Times New Roman, Times, Serif; text-align: right"><span style="-sec-ix-hidden: hidden-fact-258; font-size: 10pt">—</span></td><td style="font: 8pt Times New Roman, Times, Serif; padding-bottom: 4pt; text-align: left"><span style="font-size: 10pt"> </span></td><td style="font: 8pt Times New Roman, Times, Serif; padding-bottom: 4pt"><span style="font-size: 10pt"> </span></td>
<td style="border-bottom: Black 4pt double; font: 8pt Times New Roman, Times, Serif; text-align: left"><span style="font-size: 10pt">$</span></td><td style="border-bottom: Black 4pt double; font: 8pt Times New Roman, Times, Serif; text-align: right"><span style="font-size: 10pt">(11</span></td><td style="font: 8pt Times New Roman, Times, Serif; padding-bottom: 2pt; text-align: left"><span style="font-size: 10pt">)</span></td><td style="font: 8pt Times New Roman, Times, Serif; padding-bottom: 4pt"><span style="font-size: 10pt"> </span></td>
<td style="border-bottom: Black 4pt double; font: 8pt Times New Roman, Times, Serif; text-align: left"><span style="font-size: 10pt">$</span></td><td style="border-bottom: Black 4pt double; font: 8pt Times New Roman, Times, Serif; text-align: right"><span style="font-size: 10pt">15,921</span></td><td style="font: 8pt Times New Roman, Times, Serif; padding-bottom: 4pt; text-align: left"><span style="font-size: 10pt"> </span></td></tr>
</table><p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify"> </p>
250000
-1000
249000
550000
550000
3429000
-14000
3415000
4229000
-15000
4214000
250000
250000
2210000
2210000
12035000
-11000
12024000
1437
1437000
15932000
-11000
15921000
<p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify"><span style="text-transform: uppercase"><b>Note
5 – Property and Equipment</b></span></p><p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify"> </p><p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify">Property and equipment, net, as of June 30, 2022
and December 31, 2021, consisted of the following (in thousands):</p><p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify"> </p><table cellpadding="0" cellspacing="0" style="font: 10pt Times New Roman, Times, Serif; border-collapse: collapse; width: 100%">
<tr style="vertical-align: bottom">
<td> </td><td style="font-weight: bold"> </td>
<td colspan="2" style="font-weight: bold; text-align: center">June 30,</td><td style="font-weight: bold"> </td><td style="font-weight: bold"> </td>
<td colspan="2" style="font-weight: bold; text-align: center">December 31,</td><td style="font-weight: bold"> </td></tr>
<tr style="vertical-align: bottom">
<td> </td><td style="font-weight: bold; padding-bottom: 1.5pt"> </td>
<td colspan="2" style="border-bottom: Black 1.5pt solid; font-weight: bold; text-align: center">2022</td><td style="padding-bottom: 1.5pt; font-weight: bold"> </td><td style="font-weight: bold; padding-bottom: 1.5pt"> </td>
<td colspan="2" style="border-bottom: Black 1.5pt solid; font-weight: bold; text-align: center">2021</td><td style="padding-bottom: 1.5pt; font-weight: bold"> </td></tr>
<tr style="vertical-align: bottom; background-color: rgb(204,238,255)">
<td style="width: 76%; text-align: left">Office equipment and furniture</td><td style="width: 1%"> </td>
<td style="width: 1%; text-align: left">$</td><td style="width: 9%; text-align: right">263</td><td style="width: 1%; text-align: left"> </td><td style="width: 1%"> </td>
<td style="width: 1%; text-align: left">$</td><td style="width: 9%; text-align: right">237</td><td style="width: 1%; text-align: left"> </td></tr>
<tr style="vertical-align: bottom; ">
<td>Software</td><td> </td>
<td style="text-align: left"> </td><td style="text-align: right">131</td><td style="text-align: left"> </td><td> </td>
<td style="text-align: left"> </td><td style="text-align: right">115</td><td style="text-align: left"> </td></tr>
<tr style="vertical-align: bottom; background-color: rgb(204,238,255)">
<td style="text-align: left; padding-bottom: 1.5pt">Test equipment</td><td style="padding-bottom: 1.5pt"> </td>
<td style="border-bottom: Black 1.5pt solid; text-align: left"> </td><td style="border-bottom: Black 1.5pt solid; text-align: right">233</td><td style="padding-bottom: 1.5pt; text-align: left"> </td><td style="padding-bottom: 1.5pt"> </td>
<td style="border-bottom: Black 1.5pt solid; text-align: left"> </td><td style="border-bottom: Black 1.5pt solid; text-align: right">278</td><td style="padding-bottom: 1.5pt; text-align: left"> </td></tr>
<tr style="vertical-align: bottom; ">
<td style="padding-left: 0.125in; text-align: left">Total property and equipment</td><td> </td>
<td style="text-align: left"> </td><td style="text-align: right">627</td><td style="text-align: left"> </td><td> </td>
<td style="text-align: left"> </td><td style="text-align: right">630</td><td style="text-align: left"> </td></tr>
<tr style="vertical-align: bottom; background-color: rgb(204,238,255)">
<td style="text-align: left; padding-bottom: 1.5pt">Less: accumulated depreciation</td><td style="padding-bottom: 1.5pt"> </td>
<td style="border-bottom: Black 1.5pt solid; text-align: left"> </td><td style="border-bottom: Black 1.5pt solid; text-align: right">(153</td><td style="padding-bottom: 1.5pt; text-align: left">)</td><td style="padding-bottom: 1.5pt"> </td>
<td style="border-bottom: Black 1.5pt solid; text-align: left"> </td><td style="border-bottom: Black 1.5pt solid; text-align: right">(101</td><td style="padding-bottom: 1.5pt; text-align: left">)</td></tr>
<tr style="vertical-align: bottom; ">
<td style="padding-left: 0.125in; text-align: left; padding-bottom: 4pt">Total property and equipment, net</td><td style="padding-bottom: 4pt"> </td>
<td style="border-bottom: Black 4pt double; text-align: left">$</td><td style="border-bottom: Black 4pt double; text-align: right">474</td><td style="padding-bottom: 4pt; text-align: left"> </td><td style="padding-bottom: 4pt"> </td>
<td style="border-bottom: Black 4pt double; text-align: left">$</td><td style="border-bottom: Black 4pt double; text-align: right">529</td><td style="padding-bottom: 4pt; text-align: left"> </td></tr>
</table><p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: center"><b> </b></p><p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify">Total depreciation and amortization expense related
to property and equipment for the three and six months ended June 30, 2022 was approximately $38,000 and $73,000, respectively. Total
depreciation and amortization expense related to property and equipment for the three and six months ended June 30, 2021 was approximately
$17,000 and $18,000, respectively.</p>
<table cellpadding="0" cellspacing="0" style="font: 10pt Times New Roman, Times, Serif; border-collapse: collapse; width: 100%">
<tr style="vertical-align: bottom">
<td> </td><td style="font-weight: bold"> </td>
<td colspan="2" style="font-weight: bold; text-align: center">June 30,</td><td style="font-weight: bold"> </td><td style="font-weight: bold"> </td>
<td colspan="2" style="font-weight: bold; text-align: center">December 31,</td><td style="font-weight: bold"> </td></tr>
<tr style="vertical-align: bottom">
<td> </td><td style="font-weight: bold; padding-bottom: 1.5pt"> </td>
<td colspan="2" style="border-bottom: Black 1.5pt solid; font-weight: bold; text-align: center">2022</td><td style="padding-bottom: 1.5pt; font-weight: bold"> </td><td style="font-weight: bold; padding-bottom: 1.5pt"> </td>
<td colspan="2" style="border-bottom: Black 1.5pt solid; font-weight: bold; text-align: center">2021</td><td style="padding-bottom: 1.5pt; font-weight: bold"> </td></tr>
<tr style="vertical-align: bottom; background-color: rgb(204,238,255)">
<td style="width: 76%; text-align: left">Office equipment and furniture</td><td style="width: 1%"> </td>
<td style="width: 1%; text-align: left">$</td><td style="width: 9%; text-align: right">263</td><td style="width: 1%; text-align: left"> </td><td style="width: 1%"> </td>
<td style="width: 1%; text-align: left">$</td><td style="width: 9%; text-align: right">237</td><td style="width: 1%; text-align: left"> </td></tr>
<tr style="vertical-align: bottom; ">
<td>Software</td><td> </td>
<td style="text-align: left"> </td><td style="text-align: right">131</td><td style="text-align: left"> </td><td> </td>
<td style="text-align: left"> </td><td style="text-align: right">115</td><td style="text-align: left"> </td></tr>
<tr style="vertical-align: bottom; background-color: rgb(204,238,255)">
<td style="text-align: left; padding-bottom: 1.5pt">Test equipment</td><td style="padding-bottom: 1.5pt"> </td>
<td style="border-bottom: Black 1.5pt solid; text-align: left"> </td><td style="border-bottom: Black 1.5pt solid; text-align: right">233</td><td style="padding-bottom: 1.5pt; text-align: left"> </td><td style="padding-bottom: 1.5pt"> </td>
<td style="border-bottom: Black 1.5pt solid; text-align: left"> </td><td style="border-bottom: Black 1.5pt solid; text-align: right">278</td><td style="padding-bottom: 1.5pt; text-align: left"> </td></tr>
<tr style="vertical-align: bottom; ">
<td style="padding-left: 0.125in; text-align: left">Total property and equipment</td><td> </td>
<td style="text-align: left"> </td><td style="text-align: right">627</td><td style="text-align: left"> </td><td> </td>
<td style="text-align: left"> </td><td style="text-align: right">630</td><td style="text-align: left"> </td></tr>
<tr style="vertical-align: bottom; background-color: rgb(204,238,255)">
<td style="text-align: left; padding-bottom: 1.5pt">Less: accumulated depreciation</td><td style="padding-bottom: 1.5pt"> </td>
<td style="border-bottom: Black 1.5pt solid; text-align: left"> </td><td style="border-bottom: Black 1.5pt solid; text-align: right">(153</td><td style="padding-bottom: 1.5pt; text-align: left">)</td><td style="padding-bottom: 1.5pt"> </td>
<td style="border-bottom: Black 1.5pt solid; text-align: left"> </td><td style="border-bottom: Black 1.5pt solid; text-align: right">(101</td><td style="padding-bottom: 1.5pt; text-align: left">)</td></tr>
<tr style="vertical-align: bottom; ">
<td style="padding-left: 0.125in; text-align: left; padding-bottom: 4pt">Total property and equipment, net</td><td style="padding-bottom: 4pt"> </td>
<td style="border-bottom: Black 4pt double; text-align: left">$</td><td style="border-bottom: Black 4pt double; text-align: right">474</td><td style="padding-bottom: 4pt; text-align: left"> </td><td style="padding-bottom: 4pt"> </td>
<td style="border-bottom: Black 4pt double; text-align: left">$</td><td style="border-bottom: Black 4pt double; text-align: right">529</td><td style="padding-bottom: 4pt; text-align: left"> </td></tr>
</table><p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: center"><b> </b></p>
263000
237000
131000
115000
233000
278000
627000
630000
153000
101000
474000
529000
38000
73000
17000
18000
<p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify"><span style="text-transform: uppercase"><b>Note
6 – Other Current Liabilities</b></span></p><p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify"> </p><p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify">Other current liabilities as of June 30, 2022
and December 31, 2021 consisted of the following (in thousands):</p><p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify"> </p><table cellpadding="0" cellspacing="0" style="border-collapse: collapse; width: 100%; font: 10pt Times New Roman, Times, Serif">
<tr>
<td> </td><td style="font-weight: bold"> </td>
<td colspan="2" style="font-weight: bold; text-align: center">June 30,</td><td style="font-weight: bold"> </td><td style="font-weight: bold"> </td>
<td colspan="2" style="white-space: nowrap; font-weight: bold; text-align: center">December 31,</td><td style="font-weight: bold"> </td></tr>
<tr>
<td> </td><td style="font-weight: bold; padding-bottom: 1.5pt"> </td>
<td colspan="2" style="font-weight: bold; text-align: center; border-bottom: Black 1.5pt solid">2022</td><td style="padding-bottom: 1.5pt; font-weight: bold"> </td><td style="font-weight: bold; padding-bottom: 1.5pt"> </td>
<td colspan="2" style="font-weight: bold; text-align: center; border-bottom: Black 1.5pt solid">2021</td><td style="padding-bottom: 1.5pt; font-weight: bold"> </td></tr>
<tr style="background-color: rgb(204,238,255)">
<td style="width: 76%; text-align: left">Accrued research and development</td><td style="width: 1%"> </td>
<td style="width: 1%; text-align: left">$</td><td style="width: 9%; text-align: right">199</td><td style="width: 1%; text-align: left"> </td><td style="width: 1%"> </td>
<td style="width: 1%; text-align: left">$</td><td style="width: 9%; text-align: right">289</td><td style="width: 1%; text-align: left"> </td></tr>
<tr>
<td style="text-align: left">Accrued compensation</td><td> </td>
<td style="text-align: left"> </td><td style="text-align: right">1,562</td><td style="text-align: left"> </td><td> </td>
<td style="text-align: left"> </td><td style="text-align: right">2,211</td><td style="text-align: left"> </td></tr>
<tr style="background-color: rgb(204,238,255)">
<td style="text-align: left">Accrued vacation</td><td> </td>
<td style="text-align: left"> </td><td style="text-align: right">353</td><td style="text-align: left"> </td><td> </td>
<td style="text-align: left"> </td><td style="text-align: right">276</td><td style="text-align: left"> </td></tr>
<tr>
<td style="text-align: left">Lease liabilities, current portion</td><td> </td>
<td style="text-align: left"> </td><td style="text-align: right">218</td><td style="text-align: left"> </td><td> </td>
<td style="text-align: left"> </td><td style="text-align: right"><div style="-sec-ix-hidden: hidden-fact-259">—</div></td><td style="text-align: left"> </td></tr>
<tr style="background-color: rgb(204,238,255)">
<td style="padding-bottom: 1.5pt">Other</td><td style="padding-bottom: 1.5pt"> </td>
<td style="border-bottom: Black 1.5pt solid; text-align: left"> </td><td style="border-bottom: Black 1.5pt solid; text-align: right">303</td><td style="padding-bottom: 1.5pt; text-align: left"> </td><td style="padding-bottom: 1.5pt"> </td>
<td style="border-bottom: Black 1.5pt solid; text-align: left"> </td><td style="border-bottom: Black 1.5pt solid; text-align: right">131</td><td style="padding-bottom: 1.5pt; text-align: left"> </td></tr>
<tr>
<td style="padding-bottom: 4pt"> </td><td style="padding-bottom: 4pt"> </td>
<td style="border-bottom: Black 4pt double; text-align: left">$</td><td style="border-bottom: Black 4pt double; text-align: right">2,635</td><td style="padding-bottom: 4pt; text-align: left"> </td><td style="padding-bottom: 4pt"> </td>
<td style="border-bottom: Black 4pt double; text-align: left">$</td><td style="border-bottom: Black 4pt double; text-align: right">2,907</td><td style="padding-bottom: 4pt; text-align: left"> </td></tr>
</table>
<table cellpadding="0" cellspacing="0" style="border-collapse: collapse; width: 100%; font: 10pt Times New Roman, Times, Serif">
<tr>
<td> </td><td style="font-weight: bold"> </td>
<td colspan="2" style="font-weight: bold; text-align: center">June 30,</td><td style="font-weight: bold"> </td><td style="font-weight: bold"> </td>
<td colspan="2" style="white-space: nowrap; font-weight: bold; text-align: center">December 31,</td><td style="font-weight: bold"> </td></tr>
<tr>
<td> </td><td style="font-weight: bold; padding-bottom: 1.5pt"> </td>
<td colspan="2" style="font-weight: bold; text-align: center; border-bottom: Black 1.5pt solid">2022</td><td style="padding-bottom: 1.5pt; font-weight: bold"> </td><td style="font-weight: bold; padding-bottom: 1.5pt"> </td>
<td colspan="2" style="font-weight: bold; text-align: center; border-bottom: Black 1.5pt solid">2021</td><td style="padding-bottom: 1.5pt; font-weight: bold"> </td></tr>
<tr style="background-color: rgb(204,238,255)">
<td style="width: 76%; text-align: left">Accrued research and development</td><td style="width: 1%"> </td>
<td style="width: 1%; text-align: left">$</td><td style="width: 9%; text-align: right">199</td><td style="width: 1%; text-align: left"> </td><td style="width: 1%"> </td>
<td style="width: 1%; text-align: left">$</td><td style="width: 9%; text-align: right">289</td><td style="width: 1%; text-align: left"> </td></tr>
<tr>
<td style="text-align: left">Accrued compensation</td><td> </td>
<td style="text-align: left"> </td><td style="text-align: right">1,562</td><td style="text-align: left"> </td><td> </td>
<td style="text-align: left"> </td><td style="text-align: right">2,211</td><td style="text-align: left"> </td></tr>
<tr style="background-color: rgb(204,238,255)">
<td style="text-align: left">Accrued vacation</td><td> </td>
<td style="text-align: left"> </td><td style="text-align: right">353</td><td style="text-align: left"> </td><td> </td>
<td style="text-align: left"> </td><td style="text-align: right">276</td><td style="text-align: left"> </td></tr>
<tr>
<td style="text-align: left">Lease liabilities, current portion</td><td> </td>
<td style="text-align: left"> </td><td style="text-align: right">218</td><td style="text-align: left"> </td><td> </td>
<td style="text-align: left"> </td><td style="text-align: right"><div style="-sec-ix-hidden: hidden-fact-259">—</div></td><td style="text-align: left"> </td></tr>
<tr style="background-color: rgb(204,238,255)">
<td style="padding-bottom: 1.5pt">Other</td><td style="padding-bottom: 1.5pt"> </td>
<td style="border-bottom: Black 1.5pt solid; text-align: left"> </td><td style="border-bottom: Black 1.5pt solid; text-align: right">303</td><td style="padding-bottom: 1.5pt; text-align: left"> </td><td style="padding-bottom: 1.5pt"> </td>
<td style="border-bottom: Black 1.5pt solid; text-align: left"> </td><td style="border-bottom: Black 1.5pt solid; text-align: right">131</td><td style="padding-bottom: 1.5pt; text-align: left"> </td></tr>
<tr>
<td style="padding-bottom: 4pt"> </td><td style="padding-bottom: 4pt"> </td>
<td style="border-bottom: Black 4pt double; text-align: left">$</td><td style="border-bottom: Black 4pt double; text-align: right">2,635</td><td style="padding-bottom: 4pt; text-align: left"> </td><td style="padding-bottom: 4pt"> </td>
<td style="border-bottom: Black 4pt double; text-align: left">$</td><td style="border-bottom: Black 4pt double; text-align: right">2,907</td><td style="padding-bottom: 4pt; text-align: left"> </td></tr>
</table>
199000
289000
1562000
2211000
353000
276000
218000
303000
131000
2635000
2907000
<p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify"><span style="text-transform: uppercase"><b>NOTE
7 – CONVERTIBLE PROMISSORY NOTES</b></span></p><p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify"> </p><p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify">On various dates between February 2020 and
December 2020, the Company received total proceeds of approximately $11.8 million from the issuance of subordinated convertible
promissory notes (“Convertible Notes”) to investors. The Convertible Notes accrued interest at 4% per year and the principal
balance of the Convertible Notes, plus all accrued interest would have been due on February 28, 2022 (the Maturity Date).</p><p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify"> </p><p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify">The Convertible Notes were convertible upon the
occurrence of certain events, including upon a change in control or a next equity financing. The conversion features are described as
follows:</p><p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify"> </p><table cellpadding="0" cellspacing="0" style="font: 10pt Times New Roman, Times, Serif; width: 100%; border-collapse: collapse">
<tr style="vertical-align: bottom">
<td style="border-bottom: black 1.5pt solid; width: 32%"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"><b>Conversion
Event</b></span></td>
<td style="width: 2%; text-align: center"> </td>
<td style="border-bottom: black 1.5pt solid; width: 32%; text-align: center"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"><b>Description</b></span></td>
<td style="width: 2%; text-align: center"> </td>
<td style="border-bottom: black 1.5pt solid; width: 32%; text-align: center"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"><b>Conversion
Price</b></span></td></tr>
<tr style="vertical-align: top; background-color: rgb(204,238,255)">
<td style="padding-left: 9pt; text-align: justify; text-indent: -9pt"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">Automatic
Conversion – Next Qualified Equity Financing</span></td>
<td style="text-align: justify"> </td>
<td style="text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">Upon the closing of a Next Qualified Equity Financing (defined as greater than $5,000,000), the Convertible Notes are converted into shares issued equal to the outstanding balance divided by the Conversion Price.</span></td>
<td style="text-align: justify"> </td>
<td style="text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">An amount equal to the lower of (i) 80% of the lowest per-share selling price of such stock sold by the Company at the Next Qualified Equity Financing or (ii) the implied per share price determined by dividing $60,000,000 by the total number of Common Stock Equivalents (defined as fully diluted common shares for all outstanding securities, excluding common shares reserved for issuance or exercise of options or grants in the future) immediately prior to Next Qualified Equity Financing closing.</span></td></tr>
<tr style="vertical-align: top; ">
<td style="text-align: justify"> </td>
<td style="text-align: justify"> </td>
<td style="text-align: justify"> </td>
<td style="text-align: justify"> </td>
<td style="text-align: justify"> </td></tr>
<tr style="vertical-align: top; background-color: rgb(204,238,255)">
<td style="padding-left: 9pt; text-align: justify; text-indent: -9pt"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">Automatic
Conversion – Change of Control (defined as consolidation or merger of the Company or transfer of a majority of share ownership
or disposition of substantially all assets of the Company)</span></td>
<td style="text-align: justify"> </td>
<td style="text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">If at any time before payment or conversion of the balance, the Company effects a Change of Control, all of the balance outstanding immediately prior to such Change of Control will automatically convert into the most senior series of Preferred Stock outstanding immediately prior to such Change of Control at the Conversion Price.</span></td>
<td style="text-align: justify"> </td>
<td style="text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">An amount equal to the implied per share price determined by dividing $60,000,000 by the total number of Common Stock Equivalents immediately prior to such Change of Control.</span></td></tr>
<tr style="vertical-align: top; ">
<td style="text-align: justify"> </td>
<td style="text-align: justify"> </td>
<td style="text-align: justify"> </td>
<td style="text-align: justify"> </td>
<td style="text-align: justify"> </td></tr>
<tr style="vertical-align: top; background-color: rgb(204,238,255)">
<td style="text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">Automatic Conversion –
Maturity Date</span></td>
<td style="text-align: justify"> </td>
<td style="text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">If the Company has not paid or otherwise converted the entire balance before the Maturity Date, then on the Maturity Date, all of the balance then outstanding will automatically convert into the most senior series of Preferred Stock outstanding as of the Maturity Date at the Conversion Price then in effect.</span></td>
<td style="text-align: justify"> </td>
<td style="text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">An amount equal to the implied per share price determined by dividing $60,000,000 by the total number of Common Stock Equivalents as of the Maturity Date.</span></td></tr>
<tr style="vertical-align: top; ">
<td style="text-align: justify"> </td>
<td style="text-align: justify"> </td>
<td style="text-align: justify"> </td>
<td style="text-align: justify"> </td>
<td style="text-align: justify"> </td></tr>
<tr style="vertical-align: top; background-color: rgb(204,238,255)">
<td style="text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">Automatic Conversion –
IPO</span></td>
<td style="text-align: justify"> </td>
<td style="text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">If at any time before payment or conversion of the balance, the Company consummates an IPO, all of the balance outstanding immediately prior to the IPO will automatically convert into Common Stock at the Conversion Price.</span></td>
<td style="text-align: justify"> </td>
<td style="text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">An amount equal to the lower of (i) 80% of the lowest per-share selling price of the Common Stock sold by the Company in an IPO or (ii) the implied per share price determined by dividing $60,000,000 by the total number of Common Stock Equivalents immediately prior to closing of an IPO. </span></td></tr>
<tr style="vertical-align: top; ">
<td style="text-align: justify"> </td>
<td style="text-align: justify"> </td>
<td style="text-align: justify"> </td>
<td style="text-align: justify"> </td>
<td style="text-align: justify"> </td></tr>
<tr style="vertical-align: top; background-color: rgb(204,238,255)">
<td style="text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">Optional Conversion</span></td>
<td style="text-align: justify"> </td>
<td style="text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">If at any time while the Convertible Notes are still outstanding the Company sells stock in a single transaction or in a series of related transactions that does not constitute a Next Qualified Equity Financing (and thus is defined as a Non-qualified Financing), then, at the closing of the Nonqualified Financing, the balance then outstanding may be converted, at the option of the holder, into that number of shares of Non-qualified Preferred Stock (preferred stock sold in the Non-qualified Financing) determined by dividing (i) the balance by (ii) the Conversion Price then in effect.</span></td>
<td style="text-align: justify"> </td>
<td style="text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">An amount equal to the lowest per share selling price of Nonqualified Preferred Stock sold by the Company for new cash investment in the Non-Qualified Financing.</span></td></tr>
</table><p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify"> </p><p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify">As part of the Convertible Note financing, the
Company agreed to issue subordinated convertible promissory notes to nonemployees in exchange for services totaling $747,000.</p><p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify"> </p><p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify">During the three months ended March 31,
2021, nonemployee services of $50,000 were completed, which were recorded as a component of other noncurrent liabilities. In connection
with the IPO, a Convertible Note for $500,000 was issued for nonemployee services and $300,000 of the nonemployee services that remained
to be completed was recorded in prepaid and other current expenses on the condensed consolidated balance sheets. The Company calculated
a BCF of approximately $500,000 upon the issuance of this Convertible Note.</p><p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify"> </p><p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify">In connection with the Convertible Notes, the
Company issued 10,000 and 204,500 warrants to purchase common stock, to a noteholder and its brokers, respectively. The warrants have
a five-year life and are initially exercisable into common stock at $2.97 per share. (See Note 10 – Common Stock Warrants for fair
value computation and discussion of the change in the exercise price). During March 2021, 42,220 of these warrants to purchase common
stock were cancelled.</p><p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify"> </p><p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify">Issuance costs and commissions to brokers to
obtain the Convertible Notes were recorded as a debt discount in the amount of approximately $83,000 and $612,000, respectively.</p><p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify"> </p><p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify">The Company determined that the terms that would
result in Convertible Notes automatically converting at (i) 80% of the lowest per-share selling price of the stock sold by the Company
in the Next Qualified Equity Financing or (ii) 80% of the lowest per-share selling price of the Conversion Stock sold by the Company
in an IPO are deemed a redemption feature. The Company also concluded that those redemption features require bifurcation from the Convertible
Notes and subsequent accounting in the same manner as a freestanding derivative. Accordingly, subsequent changes in the fair value of
these redemption features are measured at each reporting period and recognized in the condensed consolidated statements of operations
and comprehensive loss.</p><p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify"> </p><p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify">The sum of the fair value of the warrants, the
fair value of the embedded redemption derivative liability, issuance costs, BCF and commission payments for the Convertible Notes were
recorded as debt discounts to be amortized to interest expense over the respective term using the effective interest method. During the
three and six months ended June 30, 2021, the Company recognized interest expense of approximately $0 and $0.8 million, respectively,
from the accretion of those debt discounts.</p><p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify"> </p><p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify">The Convertible Notes automatically converted
upon the closing of the IPO at the implied per share price determined by dividing $60,000,000 by the total number of Common Stock Equivalents
immediately prior to the closing of the IPO. The outstanding principal ($12.5 million) and interest due ($0.4 million) under
the Convertible Notes, in an aggregate amount of $12.9 million, was converted into 5,015,494 shares of the Company’s common
stock at the implied per share conversion of $2.5736. The carrying value of the Convertible Notes was credited to common stock and additional
paid-in capital on the condensed consolidated balance sheet. The remaining unamortized discount of $0.4 million was recorded to additional
paid-in capital and no gain or loss was recognized on the conversion. The remaining unamortized discount related to the BCF of $0.5 million
was recognized immediately as interest expense in the condensed consolidated statement of operations and comprehensive loss.</p><p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify"> </p><p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify"><b>Derivative Liability</b> </p><p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify"> </p><p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify">As described above, the redemption provisions
embedded in the Convertible Notes required bifurcation and measurement at fair value as a derivative. The fair value of the Convertible
Note embedded redemption derivative liability was calculated by determining the value of the debt component of the Convertible Notes
at various conversion or maturity dates using a Probability Weighted Expected Return valuation method. The fair value calculation placed
greater probability on the occurrence of the conversion or the maturity date scenario, with little or no weight given to other scenarios.
The fair value of the embedded redemption derivative liability is significantly influenced by the discount rate, the remaining term to
maturity and the Company’s assumptions related to the probability of a qualified financing or no financing prior to maturity. The
Financing Date is the estimated date of an automatic conversion as the result of a Next Qualified Equity Financing or an IPO.</p><p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify"> </p><p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify">The embedded redemption derivative liability
no longer had significant value as of the date of the Company’s IPO since the conversion of the Convertible Notes occurred via
a redemption feature that was not bifurcated as a derivative. Upon the conversion of the Convertible Notes at the IPO, the Company recorded
a final change in the fair value of the derivative liability of $0.1 million in the condensed consolidated statement of operations and
comprehensive loss, and the derivative liability was extinguished.</p><p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify"> </p><p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify"><span style="font-family: Times New Roman, Times, Serif">The
changes in the fair value of the derivative liability for the three and six months ended June 30, 2021 was the same and is presented
as follows (in thousands):</span></p><p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify"> </p><table cellpadding="0" cellspacing="0" style="font: 10pt Times New Roman, Times, Serif; border-collapse: collapse; width: 100%">
<tr style="vertical-align: bottom">
<td style="text-align: left; font-weight: bold"/><td style="text-align: center; font-weight: bold"> </td>
<td colspan="2" style="text-align: center; font-weight: bold">December 31,</td><td style="text-align: center; font-weight: bold"> </td><td style="text-align: center; font-weight: bold"> </td>
<td colspan="2" style="text-align: center; font-weight: bold">Fair Value at</td><td style="text-align: center; font-weight: bold"> </td><td style="text-align: center; font-weight: bold"> </td>
<td colspan="2" style="text-align: center; font-weight: bold">Change in</td><td style="text-align: center; font-weight: bold"> </td><td style="text-align: center; font-weight: bold"> </td>
<td colspan="2" style="text-align: center; font-weight: bold">June 30,</td><td style="text-align: center; font-weight: bold"> </td></tr>
<tr style="vertical-align: bottom">
<td style="border-bottom: Black 1.5pt solid; text-align: left"><b>Warrant Issuance</b></td><td style="padding-bottom: 1.5pt; text-align: center; font-weight: bold"> </td>
<td colspan="2" style="border-bottom: Black 1.5pt solid; text-align: center; font-weight: bold">2020</td><td style="padding-bottom: 1.5pt; text-align: center; font-weight: bold"> </td><td style="padding-bottom: 1.5pt; text-align: center; font-weight: bold"> </td>
<td colspan="2" style="border-bottom: Black 1.5pt solid; text-align: center; font-weight: bold">issuance date</td><td style="padding-bottom: 1.5pt; text-align: center; font-weight: bold"> </td><td style="padding-bottom: 1.5pt; text-align: center; font-weight: bold"> </td>
<td colspan="2" style="border-bottom: Black 1.5pt solid; text-align: center; font-weight: bold">fair value</td><td style="padding-bottom: 1.5pt; text-align: center; font-weight: bold"> </td><td style="padding-bottom: 1.5pt; text-align: center; font-weight: bold"> </td>
<td colspan="2" style="border-bottom: Black 1.5pt solid; text-align: center; font-weight: bold">2021</td><td style="padding-bottom: 1.5pt; text-align: center; font-weight: bold"> </td></tr>
<tr style="vertical-align: bottom; background-color: rgb(204,238,255)">
<td style="width: 52%; text-align: left">Derivative liability</td><td style="width: 1%"> </td>
<td style="width: 1%; text-align: left">$</td><td style="width: 9%; text-align: right">121</td><td style="width: 1%; text-align: left"> </td><td style="width: 1%"> </td>
<td style="width: 1%; text-align: left"> </td><td style="width: 9%; text-align: right"><div style="-sec-ix-hidden: hidden-fact-260">—</div></td><td style="width: 1%; text-align: left"> </td><td style="width: 1%"> </td>
<td style="width: 1%; text-align: left"> </td><td style="width: 9%; text-align: right">(121</td><td style="width: 1%; text-align: left">)</td><td style="width: 1%"> </td>
<td style="width: 1%; text-align: left">$</td><td style="width: 9%; text-align: right"><div style="-sec-ix-hidden: hidden-fact-261">—</div></td><td style="width: 1%; text-align: left"> </td></tr>
</table>
11800000
11800000
0.04
2022-02-28
<table cellpadding="0" cellspacing="0" style="font: 10pt Times New Roman, Times, Serif; width: 100%; border-collapse: collapse">
<tr style="vertical-align: bottom">
<td style="border-bottom: black 1.5pt solid; width: 32%"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"><b>Conversion
Event</b></span></td>
<td style="width: 2%; text-align: center"> </td>
<td style="border-bottom: black 1.5pt solid; width: 32%; text-align: center"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"><b>Description</b></span></td>
<td style="width: 2%; text-align: center"> </td>
<td style="border-bottom: black 1.5pt solid; width: 32%; text-align: center"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"><b>Conversion
Price</b></span></td></tr>
<tr style="vertical-align: top; background-color: rgb(204,238,255)">
<td style="padding-left: 9pt; text-align: justify; text-indent: -9pt"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">Automatic
Conversion – Next Qualified Equity Financing</span></td>
<td style="text-align: justify"> </td>
<td style="text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">Upon the closing of a Next Qualified Equity Financing (defined as greater than $5,000,000), the Convertible Notes are converted into shares issued equal to the outstanding balance divided by the Conversion Price.</span></td>
<td style="text-align: justify"> </td>
<td style="text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">An amount equal to the lower of (i) 80% of the lowest per-share selling price of such stock sold by the Company at the Next Qualified Equity Financing or (ii) the implied per share price determined by dividing $60,000,000 by the total number of Common Stock Equivalents (defined as fully diluted common shares for all outstanding securities, excluding common shares reserved for issuance or exercise of options or grants in the future) immediately prior to Next Qualified Equity Financing closing.</span></td></tr>
<tr style="vertical-align: top; ">
<td style="text-align: justify"> </td>
<td style="text-align: justify"> </td>
<td style="text-align: justify"> </td>
<td style="text-align: justify"> </td>
<td style="text-align: justify"> </td></tr>
<tr style="vertical-align: top; background-color: rgb(204,238,255)">
<td style="padding-left: 9pt; text-align: justify; text-indent: -9pt"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">Automatic
Conversion – Change of Control (defined as consolidation or merger of the Company or transfer of a majority of share ownership
or disposition of substantially all assets of the Company)</span></td>
<td style="text-align: justify"> </td>
<td style="text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">If at any time before payment or conversion of the balance, the Company effects a Change of Control, all of the balance outstanding immediately prior to such Change of Control will automatically convert into the most senior series of Preferred Stock outstanding immediately prior to such Change of Control at the Conversion Price.</span></td>
<td style="text-align: justify"> </td>
<td style="text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">An amount equal to the implied per share price determined by dividing $60,000,000 by the total number of Common Stock Equivalents immediately prior to such Change of Control.</span></td></tr>
<tr style="vertical-align: top; ">
<td style="text-align: justify"> </td>
<td style="text-align: justify"> </td>
<td style="text-align: justify"> </td>
<td style="text-align: justify"> </td>
<td style="text-align: justify"> </td></tr>
<tr style="vertical-align: top; background-color: rgb(204,238,255)">
<td style="text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">Automatic Conversion –
Maturity Date</span></td>
<td style="text-align: justify"> </td>
<td style="text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">If the Company has not paid or otherwise converted the entire balance before the Maturity Date, then on the Maturity Date, all of the balance then outstanding will automatically convert into the most senior series of Preferred Stock outstanding as of the Maturity Date at the Conversion Price then in effect.</span></td>
<td style="text-align: justify"> </td>
<td style="text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">An amount equal to the implied per share price determined by dividing $60,000,000 by the total number of Common Stock Equivalents as of the Maturity Date.</span></td></tr>
<tr style="vertical-align: top; ">
<td style="text-align: justify"> </td>
<td style="text-align: justify"> </td>
<td style="text-align: justify"> </td>
<td style="text-align: justify"> </td>
<td style="text-align: justify"> </td></tr>
<tr style="vertical-align: top; background-color: rgb(204,238,255)">
<td style="text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">Automatic Conversion –
IPO</span></td>
<td style="text-align: justify"> </td>
<td style="text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">If at any time before payment or conversion of the balance, the Company consummates an IPO, all of the balance outstanding immediately prior to the IPO will automatically convert into Common Stock at the Conversion Price.</span></td>
<td style="text-align: justify"> </td>
<td style="text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">An amount equal to the lower of (i) 80% of the lowest per-share selling price of the Common Stock sold by the Company in an IPO or (ii) the implied per share price determined by dividing $60,000,000 by the total number of Common Stock Equivalents immediately prior to closing of an IPO. </span></td></tr>
<tr style="vertical-align: top; ">
<td style="text-align: justify"> </td>
<td style="text-align: justify"> </td>
<td style="text-align: justify"> </td>
<td style="text-align: justify"> </td>
<td style="text-align: justify"> </td></tr>
<tr style="vertical-align: top; background-color: rgb(204,238,255)">
<td style="text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">Optional Conversion</span></td>
<td style="text-align: justify"> </td>
<td style="text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">If at any time while the Convertible Notes are still outstanding the Company sells stock in a single transaction or in a series of related transactions that does not constitute a Next Qualified Equity Financing (and thus is defined as a Non-qualified Financing), then, at the closing of the Nonqualified Financing, the balance then outstanding may be converted, at the option of the holder, into that number of shares of Non-qualified Preferred Stock (preferred stock sold in the Non-qualified Financing) determined by dividing (i) the balance by (ii) the Conversion Price then in effect.</span></td>
<td style="text-align: justify"> </td>
<td style="text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">An amount equal to the lowest per share selling price of Nonqualified Preferred Stock sold by the Company for new cash investment in the Non-Qualified Financing.</span></td></tr>
</table><p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify"> </p>
Upon the closing of a Next Qualified Equity Financing (defined as greater than $5,000,000), the Convertible Notes are converted into shares issued equal to the outstanding balance divided by the Conversion Price.
An amount equal to the lower of (i) 80% of the lowest per-share selling price of such stock sold by the Company at the Next Qualified Equity Financing or (ii) the implied per share price determined by dividing $60,000,000 by the total number of Common Stock Equivalents (defined as fully diluted common shares for all outstanding securities, excluding common shares reserved for issuance or exercise of options or grants in the future) immediately prior to Next Qualified Equity Financing closing.
If at any time before payment or conversion of the balance, the Company effects a Change of Control, all of the balance outstanding immediately prior to such Change of Control will automatically convert into the most senior series of Preferred Stock outstanding immediately prior to such Change of Control at the Conversion Price.
An amount equal to the implied per share price determined by dividing $60,000,000 by the total number of Common Stock Equivalents immediately prior to such Change of Control.
If the Company has not paid or otherwise converted the entire balance before the Maturity Date, then on the Maturity Date, all of the balance then outstanding will automatically convert into the most senior series of Preferred Stock outstanding as of the Maturity Date at the Conversion Price then in effect.
An amount equal to the implied per share price determined by dividing $60,000,000 by the total number of Common Stock Equivalents as of the Maturity Date.
If at any time before payment or conversion of the balance, the Company consummates an IPO, all of the balance outstanding immediately prior to the IPO will automatically convert into Common Stock at the Conversion Price.
An amount equal to the lower of (i) 80% of the lowest per-share selling price of the Common Stock sold by the Company in an IPO or (ii) the implied per share price determined by dividing $60,000,000 by the total number of Common Stock Equivalents immediately prior to closing of an IPO.
If at any time while the Convertible Notes are still outstanding the Company sells stock in a single transaction or in a series of related transactions that does not constitute a Next Qualified Equity Financing (and thus is defined as a Non-qualified Financing), then, at the closing of the Nonqualified Financing, the balance then outstanding may be converted, at the option of the holder, into that number of shares of Non-qualified Preferred Stock (preferred stock sold in the Non-qualified Financing) determined by dividing (i) the balance by (ii) the Conversion Price then in effect.
An amount equal to the lowest per share selling price of Nonqualified Preferred Stock sold by the Company for new cash investment in the Non-Qualified Financing.
747000
50000
500000
300000
500000
10000
204500
2.97
42220
83000
612000
(i) 80% of the lowest per-share selling price of the stock sold by the Company
in the Next Qualified Equity Financing or (ii) 80% of the lowest per-share selling price of the Conversion Stock sold by the Company
in an IPO are deemed a redemption feature. The Company also concluded that those redemption features require bifurcation from the Convertible
Notes and subsequent accounting in the same manner as a freestanding derivative.
0
800000
60000000
12500000
400000
12900000
5015494
2.5736
400000
500000
100000
<table cellpadding="0" cellspacing="0" style="font: 10pt Times New Roman, Times, Serif; border-collapse: collapse; width: 100%">
<tr style="vertical-align: bottom">
<td style="text-align: left; font-weight: bold"/><td style="text-align: center; font-weight: bold"> </td>
<td colspan="2" style="text-align: center; font-weight: bold">December 31,</td><td style="text-align: center; font-weight: bold"> </td><td style="text-align: center; font-weight: bold"> </td>
<td colspan="2" style="text-align: center; font-weight: bold">Fair Value at</td><td style="text-align: center; font-weight: bold"> </td><td style="text-align: center; font-weight: bold"> </td>
<td colspan="2" style="text-align: center; font-weight: bold">Change in</td><td style="text-align: center; font-weight: bold"> </td><td style="text-align: center; font-weight: bold"> </td>
<td colspan="2" style="text-align: center; font-weight: bold">June 30,</td><td style="text-align: center; font-weight: bold"> </td></tr>
<tr style="vertical-align: bottom">
<td style="border-bottom: Black 1.5pt solid; text-align: left"><b>Warrant Issuance</b></td><td style="padding-bottom: 1.5pt; text-align: center; font-weight: bold"> </td>
<td colspan="2" style="border-bottom: Black 1.5pt solid; text-align: center; font-weight: bold">2020</td><td style="padding-bottom: 1.5pt; text-align: center; font-weight: bold"> </td><td style="padding-bottom: 1.5pt; text-align: center; font-weight: bold"> </td>
<td colspan="2" style="border-bottom: Black 1.5pt solid; text-align: center; font-weight: bold">issuance date</td><td style="padding-bottom: 1.5pt; text-align: center; font-weight: bold"> </td><td style="padding-bottom: 1.5pt; text-align: center; font-weight: bold"> </td>
<td colspan="2" style="border-bottom: Black 1.5pt solid; text-align: center; font-weight: bold">fair value</td><td style="padding-bottom: 1.5pt; text-align: center; font-weight: bold"> </td><td style="padding-bottom: 1.5pt; text-align: center; font-weight: bold"> </td>
<td colspan="2" style="border-bottom: Black 1.5pt solid; text-align: center; font-weight: bold">2021</td><td style="padding-bottom: 1.5pt; text-align: center; font-weight: bold"> </td></tr>
<tr style="vertical-align: bottom; background-color: rgb(204,238,255)">
<td style="width: 52%; text-align: left">Derivative liability</td><td style="width: 1%"> </td>
<td style="width: 1%; text-align: left">$</td><td style="width: 9%; text-align: right">121</td><td style="width: 1%; text-align: left"> </td><td style="width: 1%"> </td>
<td style="width: 1%; text-align: left"> </td><td style="width: 9%; text-align: right"><div style="-sec-ix-hidden: hidden-fact-260">—</div></td><td style="width: 1%; text-align: left"> </td><td style="width: 1%"> </td>
<td style="width: 1%; text-align: left"> </td><td style="width: 9%; text-align: right">(121</td><td style="width: 1%; text-align: left">)</td><td style="width: 1%"> </td>
<td style="width: 1%; text-align: left">$</td><td style="width: 9%; text-align: right"><div style="-sec-ix-hidden: hidden-fact-261">—</div></td><td style="width: 1%; text-align: left"> </td></tr>
</table>
121000
-121000
<p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify"><span style="text-transform: uppercase"><b>Note
8 – REDEEMABLE Convertible Preferred Stock</b></span></p><p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify"> </p><p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify">On March 28, 2019, the Company’s Second
Amended and Restated Certificate of Incorporation was filed with the Delaware Secretary of State which (i) increased the number of shares
of common stock the Company is authorized to issue to 22,069,652; (ii) increased the number of shares of preferred stock the Company
was authorized to issue to 7,930,348, of which 2,692,253 shares were designated as Series A preferred stock and 5,238,095 shares were
designated as Series B preferred stock; (iii) amended and set a fixed conversion price of Series A preferred stock to $1.40; and (iv)
extended the IPO Commitment Date from April 1, 2020 to no later than March 31, 2021.</p><p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify"> </p><p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify">The Series B preferred stock was measured
and recorded at the transaction price net of issuance costs, resulting in an initial value of $9.3 million. The accretion to the
carrying value of the Series B preferred stock was recorded as a charge to additional paid in capital. The accumulated accretion as of
the IPO date was $11.5 million, which resulted in an adjusted Series B preferred stock carrying value of $20.8 million.</p><p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify"> </p><p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify">The accretion to the carrying value of the Series A
preferred stock was recorded as a charge to additional paid-in capital. The accumulated accretion as of the IPO date was $8.2 million,
which resulted in an adjusted Series A preferred stock carrying value of $14.5 million.</p><p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify"> </p><p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify">Upon the IPO, the redeemable convertible preferred
stock converted in to 11,436,956 shares of common stock and no shares of redeemable convertible preferred stock remain outstanding.</p><p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify"> </p><p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify">On March 24, 2021, the Company’s Third
Amended and Restated Certificate of Incorporation was filed with the Delaware Secretary of State which (i) eliminated the Company’s
Series A and Series B preferred stock, (ii) increased the authorized number of shares of common stock to 75,000,000 and (iii)
authorized 5,000,000 shares of preferred stock at par value of $0.0001 per share. The significant rights and preferences of the preferred
stock will be established by the Company’s Board of Directors (the “Board”) upon issuance of any such series of preferred
stock in the future.</p>
On March 28, 2019, the Company’s Second
Amended and Restated Certificate of Incorporation was filed with the Delaware Secretary of State which (i) increased the number of shares
of common stock the Company is authorized to issue to 22,069,652; (ii) increased the number of shares of preferred stock the Company
was authorized to issue to 7,930,348, of which 2,692,253 shares were designated as Series A preferred stock and 5,238,095 shares were
designated as Series B preferred stock; (iii) amended and set a fixed conversion price of Series A preferred stock to $1.40; and (iv)
extended the IPO Commitment Date from April 1, 2020 to no later than March 31, 2021.
9300000
11500000
20800000
8200000
14500000
11436956
On March 24, 2021, the Company’s Third
Amended and Restated Certificate of Incorporation was filed with the Delaware Secretary of State which (i) eliminated the Company’s
Series A and Series B preferred stock, (ii) increased the authorized number of shares of common stock to 75,000,000 and (iii)
authorized 5,000,000 shares of preferred stock at par value of $0.0001 per share.
<p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify"><span style="text-transform: uppercase"><b>Note
9 – Common Stock</b></span></p><p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify"> </p><p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify"><span style="font-family: Times New Roman, Times, Serif">As
of June 30, 2022 and December 31, 2021, the Company was authorized to issue 75,000,000 shares of common stock with a par value of $0.0001
per share. As of June 30, 2022 and December 31, 2021, 32,818,060 and 32,772,060 shares were outstanding.</span></p><p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify"> </p><p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify"><b>Conversion of Redeemable Convertible Preferred
Stock</b></p><p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify"> </p><p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify">In connection with the closing of the IPO, on
March 25, 2021, the outstanding shares of the Company’s Series A and Series B redeemable convertible preferred stock
were converted into 11,436,956 shares of the Company’s common stock.</p><p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify"> </p><p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify"><b>Conversion of Convertible Notes</b></p><p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify"> </p><p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify">In connection with the funding of the IPO, on
March 25, 2021, the principal and interest due under the Company’s Convertible Notes, in an aggregate amount of $12.9 million,
was converted into 5,015,494 shares of the Company’s common stock.</p><p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify"> </p><p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify"><b>Third Amended and Restated Certificate of
Incorporation</b></p><p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify"> </p><p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify">In connection with the IPO, the Third Amended
and Restated Certificate of Incorporation became effective and authorized 75,000,000 shares of common stock at par value of $0.0001 per
share. Dividends may be declared and paid on the common stock when and if determined by the Board of Directors. Upon liquidation, each
common stockholder is entitled to receive an equal portion of the distribution. Each holder of common stock will have one vote in respect
of each share of common stock held. The rights and privileges listed above will be subject to preferential rights of any then outstanding
shares of preferred stock.</p><p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify"> </p><p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify">At the IPO date, the Company issued 17,000 shares
of common stock for nonemployee services valued at $85,000.</p><p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify"> </p><p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify">Common stock reserved for future issuance at
June 30, 2022 is summarized as follows:</p><p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify"> </p><table cellpadding="0" cellspacing="0" style="border-collapse: collapse; width: 100%; font: 10pt Times New Roman, Times, Serif">
<tr style="background-color: rgb(204,238,255)">
<td style="width: 88%; text-align: left">Warrants to purchase common stock</td><td style="width: 1%"> </td>
<td style="width: 1%; text-align: left"> </td><td style="width: 9%; text-align: right">1,938,143</td><td style="width: 1%; text-align: left"> </td></tr>
<tr>
<td style="text-align: left">Stock options outstanding</td><td> </td>
<td style="text-align: left"> </td><td style="text-align: right">6,869,512</td><td style="text-align: left"> </td></tr>
<tr style="background-color: rgb(204,238,255)">
<td style="text-align: left; padding-bottom: 1.5pt">Stock options available for future grants</td><td style="padding-bottom: 1.5pt"> </td>
<td style="border-bottom: Black 1.5pt solid; text-align: left"> </td><td style="border-bottom: Black 1.5pt solid; text-align: right">6,791,447</td><td style="padding-bottom: 1.5pt; text-align: left"> </td></tr>
<tr>
<td style="padding-bottom: 4pt">Total</td><td style="padding-bottom: 4pt"> </td>
<td style="border-bottom: Black 4pt double; text-align: left"> </td><td style="border-bottom: Black 4pt double; text-align: right">15,599,102</td><td style="padding-bottom: 4pt; text-align: left"> </td></tr>
</table><p style="margin-top: 0; margin-bottom: 0"> </p><p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify"><b>Restricted Stock Purchase Agreements</b></p><p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify"> </p><p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify">In 2018, 400,000 shares were issued to the Company’s
founder at inception pursuant to a Restricted Stock Purchase Agreement. The Restricted Stock Purchase Agreement stipulates that in the
event of the voluntary or involuntary termination of the Company’s founder’s continuous service status for any reason (including
death or disability), with or without cause, the Company or its assignees(s) shall have an option (“Repurchase Option”) to
repurchase all or any portion of the shares held by the Purchaser as of the termination date which have not yet been released from the
Company’s Repurchase Option at the original purchase price of $0.0125 per share. Shares are to be released from the Repurchase
Option over four years. The initial 12/48ths of the shares were released on January 30, 2019, and an additional 1/48th of the shares
are being released monthly thereafter. As of June 30, 2022 and December 31, 2021, none and 8,333 of the shares issued to the Company’s
founder remain subject to the Repurchase Option, respectively. These shares were originally purchased by the Company’s founder
at $0.0125 per share.</p><p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify"> </p><p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify">In 2018, 3,640,000 shares were also issued pursuant
to a Restricted Stock Purchase Agreement. The holders of these shares are considered related parties of the Company because the holders
are directly related either to the founder or to the legal counsel of the Company. The same terms described above apply to these issuances.
As of June 30, 2022 and December 31, 2021, none and 75,833 of the shares issued to these holders remain subject to the Repurchase
Option, respectively. These shares were originally purchased by the holders at $0.0125 per share.</p><p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify"> </p><p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify"><b>Early Exercised Stock Option Liability</b></p><p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify"> </p><p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify"><span style="font-family: Times New Roman, Times, Serif">During
the three and six months ended June 30, 2022, no shares were
issued upon the early exercise of common stock options. During the three and six months ended June 30, 2021, none and 50,000 shares,
respectively, were issued upon the early exercise of common stock options. The Exercise Notice (Early Exercise) Agreement states that
the Company has the option to repurchase all or a portion of the unvested shares in the event of the separation of the holder from service
to the Company. The shares continue to vest in accordance with the original vesting schedules of the former option agreements.</span></p><p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify"> </p><p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify">As of June 30, 2022 and December 31, 2021, the
Company has recorded a repurchase liability for approximately $205,000 and $281,000 for 410,522 and 567,397 shares that remain unvested,
respectively. The weighted average remaining vesting period is approximately 1.6 years.</p>
75000000
75000000
0.0001
32818060
32772060
11436956
12900000
5015494
75000000
0.0001
one
17000
85000000
<table cellpadding="0" cellspacing="0" style="border-collapse: collapse; width: 100%; font: 10pt Times New Roman, Times, Serif">
<tr style="background-color: rgb(204,238,255)">
<td style="width: 88%; text-align: left">Warrants to purchase common stock</td><td style="width: 1%"> </td>
<td style="width: 1%; text-align: left"> </td><td style="width: 9%; text-align: right">1,938,143</td><td style="width: 1%; text-align: left"> </td></tr>
<tr>
<td style="text-align: left">Stock options outstanding</td><td> </td>
<td style="text-align: left"> </td><td style="text-align: right">6,869,512</td><td style="text-align: left"> </td></tr>
<tr style="background-color: rgb(204,238,255)">
<td style="text-align: left; padding-bottom: 1.5pt">Stock options available for future grants</td><td style="padding-bottom: 1.5pt"> </td>
<td style="border-bottom: Black 1.5pt solid; text-align: left"> </td><td style="border-bottom: Black 1.5pt solid; text-align: right">6,791,447</td><td style="padding-bottom: 1.5pt; text-align: left"> </td></tr>
<tr>
<td style="padding-bottom: 4pt">Total</td><td style="padding-bottom: 4pt"> </td>
<td style="border-bottom: Black 4pt double; text-align: left"> </td><td style="border-bottom: Black 4pt double; text-align: right">15,599,102</td><td style="padding-bottom: 4pt; text-align: left"> </td></tr>
</table><p style="margin-top: 0; margin-bottom: 0"> </p>
1938143
6869512
6791447
15599102
400000
0.0125
8333
8333
0.0125
3640000
75833
75833
0.0125
50000
50000
205000000
281000000
410522
567397
P1Y7M6D
<p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify"><span style="text-transform: uppercase"><b>Note
10 – Common Stock Warrants</b></span></p><p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify"> </p><p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify"><b>Preferred A Placement Warrants</b></p><p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify"> </p><p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify">In connection with the closing of the Series
A preferred stock offering, the Company issued warrants (“Preferred A Placement Warrants”) to purchase a total of 133,648
shares of its common stock to NSC on March 14, 2018 and April 23, 2018. The Preferred A Placement Warrants included
an adjustment provision pursuant to which upon completion of the IPO, and the conversion of the Series A preferred stock in connection
therewith, the number of shares issuable upon exercise of the warrants was adjusted to be equal to 10% of the aggregate number of common
stock shares issued by the Company upon conversion of 1,336,485 shares of Series A preferred stock (the “Preferred A
Adjustment Provision”). In August 2019, the Preferred A Placement Warrants were amended and reissued and the total number
of warrant shares increased to 242,847.</p><p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify"> </p><p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify">In connection with the IPO, pursuant to the Preferred A
Adjustment Provision variable settlement provision, the number of shares of common stock subject to the Preferred A Placement Warrants
settled, resulting in an additional 50,195 shares of common stock.</p><p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify"> </p><p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify"><b>Preferred A Lead Investor Warrants</b></p><p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify"> </p><p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify">During February 2021, a total of 52,500
warrants for common stock were issued to advisors to the Company at a weighted average exercise price of $0.0125 per share. The resulting
fair value of the warrants for common stock is not significant.</p><p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify"> </p><p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify"><b>Preferred B Placement Warrants</b></p><p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify"> </p><p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify">On April 16, 2019, in connection with the
Series B preferred stock offering, the Company issued warrants (“Preferred B Placement Warrants”) to purchase 414,270
shares of its common stock to NSC, Newbridge Securities Corporation, and five individuals at LVP. The Preferred B Placement Warrants
have a term of five years and their exercise price is equal to $2.10, the conversion price of Series B preferred stock. The Preferred B
Placement Warrants included an adjustment provision pursuant to which upon completion of the IPO, and the conversion of the Series B
preferred stock in connection therewith, the number of shares issuable upon exercise of the warrants was adjusted to be equal to 10%
of the aggregate number of common stock shares issued by the Company upon conversion of 4,142,270 shares of Series B preferred stock
(the “Preferred B Adjustment Provision”).</p><p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify"> </p><p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify">In connection with the IPO, pursuant to the Preferred B
Adjustment Provision variable settlement provision, the number of shares of common stock subject to the Preferred B Placement Warrants
settled, resulting in an additional 49,528 shares of common stock.</p><p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify"> </p><p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify"><b>Convertible Note Placement Warrants</b></p><p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify"> </p><p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify">In connection with the Convertible Notes, the
Company issued 10,000 and 214,050 warrants to purchase common stock, to a noteholder and its brokers, respectively. The warrants have
a five-year life and are initially exercisable into common stock at $2.97 per share with the warrants ultimately being exercisable into
common stock at the final Conversion Price of the Convertible Notes. When the Convertible Notes converted at the IPO date as described
in Note 8, the exercise price of the warrants was adjusted to equal the Conversion Price, which is $2.57. During March 2021,
42,220 of these warrants to purchase common stock were cancelled.</p><p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify"> </p><p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify"><b>Underwriter Warrants</b></p><p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify"> </p><p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify">In connection with the IPO, the Company issued
the underwriter a warrant to purchase shares of common stock equal to 9.79% of the shares of common stock sold in the IPO or 956,973
shares. The warrant is exercisable at $6.00 per share and has a 5-year term. Additionally, the underwriter has contractually agreed that
it will not sell, transfer, assign, pledge, or hypothecate this warrant or the securities underlying this warrant, nor will it engage
in any hedging, short sale, derivative, put, or call transaction that would result in the effective economic disposition of this warrant
or the underlying securities for a period of 540 days (approximately 18 months) from the IPO. </p><p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify"> </p><p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify">The following is a summary of the Company’s
warrant activity for the six months ended June 30, 2022:</p><p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify"> </p><table cellpadding="0" cellspacing="0" style="font: 10pt Times New Roman, Times, Serif; border-collapse: collapse; width: 100%">
<tr style="vertical-align: bottom">
<td style="border-bottom: Black 1.5pt solid; vertical-align: bottom; text-align: center; font-weight: bold">Warrant Issuance</td><td style="text-align: center; font-weight: bold; padding-bottom: 1.5pt"> </td>
<td colspan="2" style="border-bottom: Black 1.5pt solid; vertical-align: bottom; font-weight: bold; text-align: center">Issuance</td><td style="text-align: center; padding-bottom: 1.5pt; font-weight: bold"> </td><td style="text-align: center; font-weight: bold; padding-bottom: 1.5pt"> </td>
<td colspan="2" style="border-bottom: Black 1.5pt solid; font-weight: bold; text-align: center">Exercise<br/> Price</td><td style="text-align: center; padding-bottom: 1.5pt; font-weight: bold"> </td><td style="text-align: center; font-weight: bold; padding-bottom: 1.5pt"> </td>
<td colspan="2" style="border-bottom: Black 1.5pt solid; font-weight: bold; text-align: center">Outstanding,<br/> December 31,<br/>
2021</td><td style="text-align: center; padding-bottom: 1.5pt; font-weight: bold"> </td><td style="text-align: center; font-weight: bold; padding-bottom: 1.5pt"> </td>
<td colspan="2" style="border-bottom: Black 1.5pt solid; font-weight: bold; text-align: center">Granted</td><td style="text-align: center; padding-bottom: 1.5pt; font-weight: bold"> </td><td style="text-align: center; font-weight: bold; padding-bottom: 1.5pt"> </td>
<td colspan="2" style="border-bottom: Black 1.5pt solid; font-weight: bold; text-align: center">Exercised</td><td style="text-align: center; padding-bottom: 1.5pt; font-weight: bold"> </td><td style="text-align: center; font-weight: bold; padding-bottom: 1.5pt"> </td>
<td colspan="2" style="border-bottom: Black 1.5pt solid; font-weight: bold; text-align: center">Canceled/<br/> Expired</td><td style="text-align: center; padding-bottom: 1.5pt; font-weight: bold"> </td><td style="text-align: center; font-weight: bold; padding-bottom: 1.5pt"> </td>
<td colspan="2" style="border-bottom: Black 1.5pt solid; font-weight: bold; text-align: center">Variable<br/>
Settlement<br/>
Provision<br/>
Adjustment</td><td style="text-align: center; padding-bottom: 1.5pt; font-weight: bold"> </td><td style="text-align: center; font-weight: bold; padding-bottom: 1.5pt"> </td>
<td colspan="2" style="border-bottom: Black 1.5pt solid; font-weight: bold; text-align: center">Outstanding,<br/> June 30,<br/> 2022</td><td style="text-align: center; padding-bottom: 1.5pt; font-weight: bold"> </td><td style="text-align: center; font-weight: bold; padding-bottom: 1.5pt"> </td>
<td colspan="2" style="border-bottom: Black 1.5pt solid; vertical-align: bottom; font-weight: bold; text-align: center">Expiration</td><td style="text-align: center; padding-bottom: 1.5pt; font-weight: bold"> </td></tr>
<tr style="vertical-align: bottom; background-color: rgb(204,238,255)">
<td style="vertical-align: top; padding-left: 0.125in; text-indent: -0.125in; width: 10%; text-align: left">Preferred A Placement
Warrants</td><td style="width: 1%"> </td>
<td style="vertical-align: top; width: 1%; text-align: center"> </td><td style="vertical-align: top; width: 7%; text-align: center"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">March and April <br/> 2018 and August <br/> 2019</span></td><td style="width: 1%; text-align: left"> </td><td style="width: 1%"> </td>
<td style="width: 1%; text-align: left">$</td><td style="width: 7%; text-align: right">1.40</td><td style="width: 1%; text-align: left"> </td><td style="width: 1%"> </td>
<td style="width: 1%; text-align: left"> </td><td style="width: 7%; text-align: right">293,042</td><td style="width: 1%; text-align: left"> </td><td style="width: 1%"> </td>
<td style="width: 1%; text-align: left"> </td><td style="width: 7%; text-align: right">—</td><td style="width: 1%; text-align: left"> </td><td style="width: 1%"> </td>
<td style="width: 1%; text-align: left"> </td><td style="width: 7%; text-align: right"><div style="-sec-ix-hidden: hidden-fact-262">—</div></td><td style="width: 1%; text-align: left"> </td><td style="width: 1%"> </td>
<td style="width: 1%; text-align: left"> </td><td style="width: 7%; text-align: right">—</td><td style="width: 1%; text-align: left"> </td><td style="width: 1%"> </td>
<td style="width: 1%; text-align: left"> </td><td style="width: 7%; text-align: right">—</td><td style="width: 1%; text-align: left"> </td><td style="width: 1%"> </td>
<td style="width: 1%; text-align: left"> </td><td style="width: 7%; text-align: right">293,042</td><td style="width: 1%; text-align: left"> </td><td style="width: 1%"> </td>
<td style="vertical-align: top; width: 1%; text-align: center"> </td><td style="vertical-align: top; width: 7%; text-align: center"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">March and April 2023</span></td><td style="width: 1%; text-align: left"> </td></tr>
<tr style="vertical-align: bottom; ">
<td style="vertical-align: top; padding-left: 0.125in; text-indent: -0.125in; text-align: left">Preferred A Lead Investor Warrants</td><td> </td>
<td style="vertical-align: top; text-align: center"> </td><td style="vertical-align: top; text-align: center"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">February 2021</span></td><td style="text-align: left"> </td><td> </td>
<td style="text-align: left">$</td><td style="text-align: right">0.0125</td><td style="text-align: left"> </td><td> </td>
<td style="text-align: left"> </td><td style="text-align: right">52,500</td><td style="text-align: left"> </td><td> </td>
<td style="text-align: left"> </td><td style="text-align: right">—</td><td style="text-align: left"> </td><td> </td>
<td style="text-align: left"> </td><td style="text-align: right">—</td><td style="text-align: left"> </td><td> </td>
<td style="text-align: left"> </td><td style="text-align: right">—</td><td style="text-align: left"> </td><td> </td>
<td style="text-align: left"> </td><td style="text-align: right">—</td><td style="text-align: left"> </td><td> </td>
<td style="text-align: left"> </td><td style="text-align: right">52,500</td><td style="text-align: left"> </td><td> </td>
<td style="vertical-align: top; text-align: center"> </td><td style="vertical-align: top; text-align: center"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">March 2023</span></td><td style="text-align: left"> </td></tr>
<tr style="vertical-align: bottom; background-color: rgb(204,238,255)">
<td style="vertical-align: top; padding-left: 0.125in; text-indent: -0.125in; text-align: left">Preferred B Placement Warrants</td><td> </td>
<td style="vertical-align: top; text-align: center"> </td><td style="vertical-align: top; text-align: center"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">April 2019</span></td><td style="text-align: left"> </td><td> </td>
<td style="text-align: left">$</td><td style="text-align: right">2.10</td><td style="text-align: left"> </td><td> </td>
<td style="text-align: left"> </td><td style="text-align: right">463,798</td><td style="text-align: left"> </td><td> </td>
<td style="text-align: left"> </td><td style="text-align: right">—</td><td style="text-align: left"> </td><td> </td>
<td style="text-align: left"> </td><td style="text-align: right">—</td><td style="text-align: left"> </td><td> </td>
<td style="text-align: left"> </td><td style="text-align: right">—</td><td style="text-align: left"> </td><td> </td>
<td style="text-align: left"> </td><td style="text-align: right">—</td><td style="text-align: left"> </td><td> </td>
<td style="text-align: left"> </td><td style="text-align: right">463,798</td><td style="text-align: left"> </td><td> </td>
<td style="vertical-align: top; text-align: center"> </td><td style="vertical-align: top; text-align: center"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">April 2024</span></td><td style="text-align: left"> </td></tr>
<tr style="vertical-align: bottom; ">
<td style="vertical-align: top; padding-left: 0.125in; text-indent: -0.125in; text-align: left">Convertible Notes Placement Warrants</td><td> </td>
<td style="vertical-align: top; text-align: center"> </td><td style="vertical-align: top; text-align: center"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">August 2020</span></td><td style="text-align: left"> </td><td> </td>
<td style="text-align: left">$</td><td style="text-align: right">2.57</td><td style="text-align: left"> </td><td> </td>
<td style="text-align: left"> </td><td style="text-align: right">171,830</td><td style="text-align: left"> </td><td> </td>
<td style="text-align: left"> </td><td style="text-align: right">—</td><td style="text-align: left"> </td><td> </td>
<td style="text-align: left"> </td><td style="text-align: right">—</td><td style="text-align: left"> </td><td> </td>
<td style="text-align: left"> </td><td style="text-align: right">—</td><td style="text-align: left"> </td><td> </td>
<td style="text-align: left"> </td><td style="text-align: right">—</td><td style="text-align: left"> </td><td> </td>
<td style="text-align: left"> </td><td style="text-align: right">171,830</td><td style="text-align: left"> </td><td> </td>
<td style="vertical-align: top; text-align: center"> </td><td style="vertical-align: top; text-align: center"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">August 2025</span></td><td style="text-align: left"> </td></tr>
<tr style="vertical-align: bottom; background-color: rgb(204,238,255)">
<td style="vertical-align: top; padding-left: 0.125in; text-indent: -0.125in; text-align: left; padding-bottom: 1.5pt">Underwriter
Warrants</td><td style="padding-bottom: 1.5pt"> </td>
<td style="vertical-align: top; padding-bottom: 1.5pt; text-align: center"> </td><td style="vertical-align: top; padding-bottom: 1.5pt; text-align: center"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">March 2021</span></td><td style="padding-bottom: 1.5pt; text-align: left"> </td><td style="padding-bottom: 1.5pt"> </td>
<td style="padding-bottom: 1.5pt; text-align: left">$</td><td style="padding-bottom: 1.5pt; text-align: right">6.00</td><td style="padding-bottom: 1.5pt; text-align: left"> </td><td style="padding-bottom: 1.5pt"> </td>
<td style="border-bottom: Black 1.5pt solid; text-align: left"> </td><td style="border-bottom: Black 1.5pt solid; text-align: right">956,973</td><td style="padding-bottom: 1.5pt; text-align: left"> </td><td style="padding-bottom: 1.5pt"> </td>
<td style="border-bottom: Black 1.5pt solid; text-align: left"> </td><td style="border-bottom: Black 1.5pt solid; text-align: right">—</td><td style="padding-bottom: 1.5pt; text-align: left"> </td><td style="padding-bottom: 1.5pt"> </td>
<td style="border-bottom: Black 1.5pt solid; text-align: left"> </td><td style="border-bottom: Black 1.5pt solid; text-align: right">—</td><td style="padding-bottom: 1.5pt; text-align: left"> </td><td style="padding-bottom: 1.5pt"> </td>
<td style="border-bottom: Black 1.5pt solid; text-align: left"> </td><td style="border-bottom: Black 1.5pt solid; text-align: right">—</td><td style="padding-bottom: 1.5pt; text-align: left"> </td><td style="padding-bottom: 1.5pt"> </td>
<td style="border-bottom: Black 1.5pt solid; text-align: left"> </td><td style="border-bottom: Black 1.5pt solid; text-align: right">—</td><td style="padding-bottom: 1.5pt; text-align: left"> </td><td style="padding-bottom: 1.5pt"> </td>
<td style="border-bottom: Black 1.5pt solid; text-align: left"> </td><td style="border-bottom: Black 1.5pt solid; text-align: right">956,973</td><td style="padding-bottom: 1.5pt; text-align: left"> </td><td style="padding-bottom: 1.5pt"> </td>
<td style="vertical-align: top; padding-bottom: 1.5pt; text-align: center"> </td><td style="vertical-align: top; padding-bottom: 1.5pt; text-align: center"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">March 2026</span></td><td style="padding-bottom: 1.5pt; text-align: left"> </td></tr>
<tr style="vertical-align: bottom; ">
<td style="text-align: left; padding-left: 0.125in; text-indent: -0.125in; padding-bottom: 4pt; vertical-align: top"> </td><td style="padding-bottom: 4pt"> </td>
<td style="vertical-align: top; padding-bottom: 4pt; text-align: center"> </td><td style="vertical-align: top; padding-bottom: 4pt; text-align: center"> </td><td style="padding-bottom: 4pt; text-align: left"> </td><td style="padding-bottom: 4pt"> </td>
<td style="padding-bottom: 4pt; text-align: left"> </td><td style="padding-bottom: 4pt; text-align: right"> </td><td style="padding-bottom: 4pt; text-align: left"> </td><td style="padding-bottom: 4pt"> </td>
<td style="border-bottom: Black 4pt double; text-align: left"> </td><td style="border-bottom: Black 4pt double; text-align: right">1,938,143</td><td style="padding-bottom: 4pt; text-align: left"> </td><td style="padding-bottom: 4pt"> </td>
<td style="border-bottom: Black 4pt double; text-align: left"> </td><td style="border-bottom: Black 4pt double; text-align: right">—</td><td style="padding-bottom: 4pt; text-align: left"> </td><td style="padding-bottom: 4pt"> </td>
<td style="border-bottom: Black 4pt double; text-align: left"> </td><td style="border-bottom: Black 4pt double; text-align: right">—</td><td style="padding-bottom: 4pt; text-align: left"> </td><td style="padding-bottom: 4pt"> </td>
<td style="border-bottom: Black 4pt double; text-align: left"> </td><td style="border-bottom: Black 4pt double; text-align: right">—</td><td style="padding-bottom: 4pt; text-align: left"> </td><td style="padding-bottom: 4pt"> </td>
<td style="border-bottom: Black 4pt double; text-align: left"> </td><td style="border-bottom: Black 4pt double; text-align: right">—</td><td style="padding-bottom: 4pt; text-align: left"> </td><td style="padding-bottom: 4pt"> </td>
<td style="border-bottom: Black 4pt double; text-align: left"> </td><td style="border-bottom: Black 4pt double; text-align: right">1,938,143</td><td style="padding-bottom: 4pt; text-align: left"> </td><td style="padding-bottom: 4pt"> </td>
<td style="vertical-align: top; padding-bottom: 4pt; text-align: center"> </td><td style="vertical-align: top; padding-bottom: 4pt; text-align: center"> </td><td style="padding-bottom: 4pt; text-align: left"> </td></tr>
</table><p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify"><b> </b></p><p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify">The following is a summary of the Company’s
warrant activity for the six months ended June 30, 2021:</p><p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify"> </p><table cellpadding="0" cellspacing="0" style="font: 10pt Times New Roman, Times, Serif; border-collapse: collapse; width: 100%">
<tr style="vertical-align: bottom">
<td style="border-bottom: Black 1.5pt solid; vertical-align: bottom; text-align: center; padding-left: 0.125in; text-indent: -0.125in; font-weight: bold">Warrant Issuance</td><td style="font-weight: bold; padding-bottom: 1.5pt"> </td>
<td colspan="2" style="border-bottom: Black 1.5pt solid; vertical-align: bottom; font-weight: bold; text-align: center">Issuance</td><td style="text-align: center; padding-bottom: 1.5pt; font-weight: bold"> </td><td style="text-align: center; font-weight: bold; padding-bottom: 1.5pt"> </td>
<td colspan="2" style="border-bottom: Black 1.5pt solid; font-weight: bold; text-align: center">Exercise<br/> Price</td><td style="text-align: center; padding-bottom: 1.5pt; font-weight: bold"> </td><td style="text-align: center; font-weight: bold; padding-bottom: 1.5pt"> </td>
<td colspan="2" style="border-bottom: Black 1.5pt solid; font-weight: bold; text-align: center">Outstanding,<br/> December 31,<br/>
2020</td><td style="text-align: center; padding-bottom: 1.5pt; font-weight: bold"> </td><td style="text-align: center; font-weight: bold; padding-bottom: 1.5pt"> </td>
<td colspan="2" style="border-bottom: Black 1.5pt solid; font-weight: bold; text-align: center">Granted</td><td style="text-align: center; padding-bottom: 1.5pt; font-weight: bold"> </td><td style="text-align: center; font-weight: bold; padding-bottom: 1.5pt"> </td>
<td colspan="2" style="border-bottom: Black 1.5pt solid; font-weight: bold; text-align: center">Exercised</td><td style="text-align: center; padding-bottom: 1.5pt; font-weight: bold"> </td><td style="text-align: center; font-weight: bold; padding-bottom: 1.5pt"> </td>
<td colspan="2" style="border-bottom: Black 1.5pt solid; font-weight: bold; text-align: center">Canceled/<br/> Expired</td><td style="text-align: center; padding-bottom: 1.5pt; font-weight: bold"> </td><td style="text-align: center; font-weight: bold; padding-bottom: 1.5pt"> </td>
<td colspan="2" style="border-bottom: Black 1.5pt solid; font-weight: bold; text-align: center">Variable<br/>
Settlement<br/>
Provision<br/>
Adjustment</td><td style="text-align: center; padding-bottom: 1.5pt; font-weight: bold"> </td><td style="text-align: center; font-weight: bold; padding-bottom: 1.5pt"> </td>
<td colspan="2" style="border-bottom: Black 1.5pt solid; font-weight: bold; text-align: center">Outstanding,<br/> June 30,<br/> 2021</td><td style="text-align: center; padding-bottom: 1.5pt; font-weight: bold"> </td><td style="text-align: center; font-weight: bold; padding-bottom: 1.5pt"> </td>
<td colspan="2" style="border-bottom: Black 1.5pt solid; vertical-align: bottom; font-weight: bold; text-align: center">Expiration</td><td style="padding-bottom: 1.5pt; font-weight: bold"> </td></tr>
<tr style="vertical-align: bottom; background-color: rgb(204,238,255)">
<td style="vertical-align: top; padding-left: 0.125in; text-indent: -0.125in; width: 10%; text-align: left">Preferred A Placement
Warrants</td><td style="width: 1%"> </td>
<td style="vertical-align: top; width: 1%; text-align: center"> </td><td style="vertical-align: top; width: 7%; text-align: center"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">March and April <br/> 2018 and August <br/> 2019</span></td><td style="width: 1%; text-align: left"> </td><td style="width: 1%"> </td>
<td style="width: 1%; text-align: left">$</td><td style="width: 7%; text-align: right">1.40</td><td style="width: 1%; text-align: left"> </td><td style="width: 1%"> </td>
<td style="width: 1%; text-align: left"> </td><td style="width: 7%; text-align: right">242,847</td><td style="width: 1%; text-align: left"> </td><td style="width: 1%"> </td>
<td style="width: 1%; text-align: left"> </td><td style="width: 7%; text-align: right">—</td><td style="width: 1%; text-align: left"> </td><td style="width: 1%"> </td>
<td style="width: 1%; text-align: left"> </td><td style="width: 7%; text-align: right">—</td><td style="width: 1%; text-align: left"> </td><td style="width: 1%"> </td>
<td style="width: 1%; text-align: left"> </td><td style="width: 7%; text-align: right">—</td><td style="width: 1%; text-align: left"> </td><td style="width: 1%"> </td>
<td style="width: 1%; text-align: left"> </td><td style="width: 7%; text-align: right">50,195</td><td style="width: 1%; text-align: left"> </td><td style="width: 1%"> </td>
<td style="width: 1%; text-align: left"> </td><td style="width: 7%; text-align: right">293,042</td><td style="width: 1%; text-align: left"> </td><td style="width: 1%"> </td>
<td style="vertical-align: top; width: 1%; text-align: center"> </td><td style="vertical-align: top; width: 7%; text-align: center"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">March and April 2023</span></td><td style="width: 1%; text-align: left"> </td></tr>
<tr style="vertical-align: bottom; ">
<td style="vertical-align: top; padding-left: 0.125in; text-indent: -0.125in; text-align: left">Preferred A Lead Investor Warrants</td><td> </td>
<td style="vertical-align: top; text-align: center"> </td><td style="vertical-align: top; text-align: center"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">February 2021</span></td><td style="text-align: left"> </td><td> </td>
<td style="text-align: left">$</td><td style="text-align: right">0.0125</td><td style="text-align: left"> </td><td> </td>
<td style="text-align: left"> </td><td style="text-align: right">—</td><td style="text-align: left"> </td><td> </td>
<td style="text-align: left"> </td><td style="text-align: right">52,500</td><td style="text-align: left"> </td><td> </td>
<td style="text-align: left"> </td><td style="text-align: right">—</td><td style="text-align: left"> </td><td> </td>
<td style="text-align: left"> </td><td style="text-align: right">—</td><td style="text-align: left"> </td><td> </td>
<td style="text-align: left"> </td><td style="text-align: right">—</td><td style="text-align: left"> </td><td> </td>
<td style="text-align: left"> </td><td style="text-align: right">52,500</td><td style="text-align: left"> </td><td> </td>
<td style="vertical-align: top; text-align: center"> </td><td style="vertical-align: top; text-align: center"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">March 2023</span></td><td style="text-align: left"> </td></tr>
<tr style="vertical-align: bottom; background-color: rgb(204,238,255)">
<td style="vertical-align: top; padding-left: 0.125in; text-indent: -0.125in; text-align: left">Preferred B Placement Warrants</td><td> </td>
<td style="vertical-align: top; text-align: center"> </td><td style="vertical-align: top; text-align: center"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">April 2019</span></td><td style="text-align: left"> </td><td> </td>
<td style="text-align: left">$</td><td style="text-align: right">2.10</td><td style="text-align: left"> </td><td> </td>
<td style="text-align: left"> </td><td style="text-align: right">414,270</td><td style="text-align: left"> </td><td> </td>
<td style="text-align: left"> </td><td style="text-align: right">—</td><td style="text-align: left"> </td><td> </td>
<td style="text-align: left"> </td><td style="text-align: right">—</td><td style="text-align: left"> </td><td> </td>
<td style="text-align: left"> </td><td style="text-align: right">—</td><td style="text-align: left"> </td><td> </td>
<td style="text-align: left"> </td><td style="text-align: right">49,528</td><td style="text-align: left"> </td><td> </td>
<td style="text-align: left"> </td><td style="text-align: right">463,798</td><td style="text-align: left"> </td><td> </td>
<td style="vertical-align: top; text-align: center"> </td><td style="vertical-align: top; text-align: center"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">April 2024</span></td><td style="text-align: left"> </td></tr>
<tr style="vertical-align: bottom; ">
<td style="vertical-align: top; padding-left: 0.125in; text-indent: -0.125in; text-align: left">Convertible Notes Placement Warrants</td><td> </td>
<td style="vertical-align: top; text-align: center"> </td><td style="vertical-align: top; text-align: center"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">August 2020</span></td><td style="text-align: left"> </td><td> </td>
<td style="text-align: left">$</td><td style="text-align: right">2.57</td><td style="text-align: left"> </td><td> </td>
<td style="text-align: left"> </td><td style="text-align: right">214,050</td><td style="text-align: left"> </td><td> </td>
<td style="text-align: left"> </td><td style="text-align: right">—</td><td style="text-align: left"> </td><td> </td>
<td style="text-align: left"> </td><td style="text-align: right">—</td><td style="text-align: left"> </td><td> </td>
<td style="text-align: left"> </td><td style="text-align: right">(42,220</td><td style="text-align: left">)</td><td> </td>
<td style="text-align: left"> </td><td style="text-align: right">—</td><td style="text-align: left"> </td><td> </td>
<td style="text-align: left"> </td><td style="text-align: right">171,830</td><td style="text-align: left"> </td><td> </td>
<td style="vertical-align: top; text-align: center"> </td><td style="vertical-align: top; text-align: center"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">August 2025</span></td><td style="text-align: left"> </td></tr>
<tr style="vertical-align: bottom; background-color: rgb(204,238,255)">
<td style="vertical-align: top; padding-left: 0.125in; text-indent: -0.125in; text-align: left; padding-bottom: 1.5pt">Underwriter
Warrants</td><td style="padding-bottom: 1.5pt"> </td>
<td style="vertical-align: top; padding-bottom: 1.5pt; text-align: center"> </td><td style="vertical-align: top; padding-bottom: 1.5pt; text-align: center"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">March 2021</span></td><td style="padding-bottom: 1.5pt; text-align: left"> </td><td style="padding-bottom: 1.5pt"> </td>
<td style="padding-bottom: 1.5pt; text-align: left">$</td><td style="padding-bottom: 1.5pt; text-align: right">6.00</td><td style="padding-bottom: 1.5pt; text-align: left"> </td><td style="padding-bottom: 1.5pt"> </td>
<td style="border-bottom: Black 1.5pt solid; text-align: left"> </td><td style="border-bottom: Black 1.5pt solid; text-align: right">—</td><td style="padding-bottom: 1.5pt; text-align: left"> </td><td style="padding-bottom: 1.5pt"> </td>
<td style="border-bottom: Black 1.5pt solid; text-align: left"> </td><td style="border-bottom: Black 1.5pt solid; text-align: right">956,973</td><td style="padding-bottom: 1.5pt; text-align: left"> </td><td style="padding-bottom: 1.5pt"> </td>
<td style="border-bottom: Black 1.5pt solid; text-align: left"> </td><td style="border-bottom: Black 1.5pt solid; text-align: right">—</td><td style="padding-bottom: 1.5pt; text-align: left"> </td><td style="padding-bottom: 1.5pt"> </td>
<td style="border-bottom: Black 1.5pt solid; text-align: left"> </td><td style="border-bottom: Black 1.5pt solid; text-align: right">—</td><td style="padding-bottom: 1.5pt; text-align: left"> </td><td style="padding-bottom: 1.5pt"> </td>
<td style="border-bottom: Black 1.5pt solid; text-align: left"> </td><td style="border-bottom: Black 1.5pt solid; text-align: right">—</td><td style="padding-bottom: 1.5pt; text-align: left"> </td><td style="padding-bottom: 1.5pt"> </td>
<td style="border-bottom: Black 1.5pt solid; text-align: left"> </td><td style="border-bottom: Black 1.5pt solid; text-align: right">956,973</td><td style="padding-bottom: 1.5pt; text-align: left"> </td><td style="padding-bottom: 1.5pt"> </td>
<td style="vertical-align: top; padding-bottom: 1.5pt; text-align: center"> </td><td style="vertical-align: top; padding-bottom: 1.5pt; text-align: center"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">March 2026</span></td><td style="padding-bottom: 1.5pt; text-align: left"> </td></tr>
<tr style="vertical-align: bottom; ">
<td style="text-align: left; padding-left: 0.125in; text-indent: -0.125in; padding-bottom: 4pt; vertical-align: top"> </td><td style="padding-bottom: 4pt"> </td>
<td style="vertical-align: top; padding-bottom: 4pt; text-align: center"> </td><td style="vertical-align: top; padding-bottom: 4pt; text-align: center"> </td><td style="padding-bottom: 4pt; text-align: left"> </td><td style="padding-bottom: 4pt"> </td>
<td style="padding-bottom: 4pt; text-align: left"> </td><td style="padding-bottom: 4pt; text-align: right"> </td><td style="padding-bottom: 4pt; text-align: left"> </td><td style="padding-bottom: 4pt"> </td>
<td style="border-bottom: Black 4pt double; text-align: left"> </td><td style="border-bottom: Black 4pt double; text-align: right">871,167</td><td style="padding-bottom: 4pt; text-align: left"> </td><td style="padding-bottom: 4pt"> </td>
<td style="border-bottom: Black 4pt double; text-align: left"> </td><td style="border-bottom: Black 4pt double; text-align: right">1,009,473</td><td style="padding-bottom: 4pt; text-align: left"> </td><td style="padding-bottom: 4pt"> </td>
<td style="border-bottom: Black 4pt double; text-align: left"> </td><td style="border-bottom: Black 4pt double; text-align: right">—</td><td style="padding-bottom: 4pt; text-align: left"> </td><td style="padding-bottom: 4pt"> </td>
<td style="border-bottom: Black 4pt double; text-align: left"> </td><td style="border-bottom: Black 4pt double; text-align: right">(42,220</td><td style="padding-bottom: 4pt; text-align: left">)</td><td style="padding-bottom: 4pt"> </td>
<td style="border-bottom: Black 4pt double; text-align: left"> </td><td style="border-bottom: Black 4pt double; text-align: right">99,723</td><td style="padding-bottom: 4pt; text-align: left"> </td><td style="padding-bottom: 4pt"> </td>
<td style="border-bottom: Black 4pt double; text-align: left"> </td><td style="border-bottom: Black 4pt double; text-align: right">1,938,143</td><td style="padding-bottom: 4pt; text-align: left"> </td><td style="padding-bottom: 4pt"> </td>
<td style="vertical-align: top; padding-bottom: 4pt; text-align: center"> </td><td style="vertical-align: top; padding-bottom: 4pt; text-align: center"> </td><td style="padding-bottom: 4pt; text-align: left"> </td></tr>
</table><p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify"><b> </b></p><p style="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-right: 0; margin-bottom: 0pt; text-align: left"><b>Warrants
Classified as Liabilities</b></p><p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify"> </p><p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify"><i><span style="text-decoration:underline">Preferred A Placement Warrants and Preferred
B Placement Warrants</span></i></p><p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify"> </p><p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify">The Preferred A Placement Warrants and Preferred B
Placement Warrants were initially classified as a derivative liability because their variable terms did not qualify these as being indexed
to the Company’s own common stock and will be measured at fair value on a recurring basis.</p><p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify"> </p><p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify">As a result of the conversion of the Preferred
Stock into common stock in connection with the IPO, and the related impact of the Preferred A Adjustment Provision and the Preferred B
Adjustment Provision, the number of warrant shares that are convertible is no longer variable. Accordingly, the Preferred A Placement
Warrants and Preferred B Placement Warrants were determined to be indexed to the Company’s own common stock and will no longer
be measured at fair value on a recurring basis. Instead, the Preferred A Placement Warrants and the Preferred B Placement Warrants
were determined to be equity instruments, and the liability was recorded at fair value with the change in fair value recorded in the
condensed consolidated statement of operations and comprehensive loss and reclassified to additional paid-in capital at their estimated
fair value at the IPO date.</p><p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify"> </p><p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify"><i><span style="text-decoration:underline">Convertible Notes Placement Warrants</span></i></p><p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify"> </p><p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify">The Convertible Notes Placement Warrants were
classified as a derivative liability because the exercise price was variable, thus these did not qualify as being indexed to the Company’s
own common stock and were measured at fair value on a recurring basis.</p><p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify"> </p><p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify">As a result of the conversion of the Convertible
Notes into common stock in connection with the IPO, the exercise price is no longer variable. Accordingly, the Convertible Notes Placement
Warrants were determined to be indexed to the Company’s own common stock and will no longer be measured at fair value on a recurring
basis. Instead the Convertible Notes Placement Warrants were determined to be equity instruments, and the liability was recorded at fair
value with the change in fair value recorded in the condensed consolidated statement of operations and comprehensive loss and reclassified
to additional paid-in capital at their estimated fair value at the IPO date.</p><p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify"> </p><p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify"><i><span style="text-decoration:underline">Estimated Fair Value of Outstanding Warrants
Classified as Liabilities</span></i></p><p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify"> </p><p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify">The estimated fair value of outstanding warrants
classified as liabilities is determined at each balance sheet date. Any decrease or increase in the estimated fair value of the warrant
liability since the most recent balance sheet date is recorded in the condensed consolidated statements of operations and comprehensive
loss as a change in fair value of warrant liability.</p><p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify"> </p><p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify">There were no warrants classified as liabilities
outstanding as of June 30, 2022 and December 31, 2021.</p><p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify"> </p><p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify">The changes in fair value of the outstanding
warrants classified as liabilities for the six months ended June 30, 2021 were as follows (in thousands):</p><p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify"> </p><table cellpadding="0" cellspacing="0" style="font: 10pt Times New Roman, Times, Serif; border-collapse: collapse; width: 100%">
<tr style="vertical-align: bottom">
<td style="white-space: nowrap; border-bottom: Black 1.5pt solid; padding-left: 0.125in; text-indent: -0.125in; font-weight: bold">Warrant Issuance</td><td style="white-space: nowrap; font-weight: bold; padding-bottom: 1.5pt"> </td>
<td colspan="2" style="white-space: nowrap; border-bottom: Black 1.5pt solid; font-weight: bold; text-align: center">Warrant<br/>
liability,<br/>
December 31,<br/>
2020</td><td style="white-space: nowrap; text-align: center; padding-bottom: 1.5pt; font-weight: bold"> </td><td style="white-space: nowrap; text-align: center; font-weight: bold; padding-bottom: 1.5pt"> </td>
<td colspan="2" style="white-space: nowrap; border-bottom: Black 1.5pt solid; font-weight: bold; text-align: center">Fair<br/>
value of<br/>
warrants<br/>
granted</td><td style="white-space: nowrap; text-align: center; padding-bottom: 1.5pt; font-weight: bold"> </td><td style="white-space: nowrap; text-align: center; font-weight: bold; padding-bottom: 1.5pt"> </td>
<td colspan="2" style="white-space: nowrap; border-bottom: Black 1.5pt solid; font-weight: bold; text-align: center">Fair<br/>
value of<br/>
warrants<br/>
exercised</td><td style="white-space: nowrap; text-align: center; padding-bottom: 1.5pt; font-weight: bold"> </td><td style="white-space: nowrap; text-align: center; font-weight: bold; padding-bottom: 1.5pt"> </td>
<td colspan="2" style="white-space: nowrap; border-bottom: Black 1.5pt solid; font-weight: bold; text-align: center">Change in<br/>
fair value of<br/>
warrants</td><td style="white-space: nowrap; text-align: center; padding-bottom: 1.5pt; font-weight: bold"> </td><td style="white-space: nowrap; text-align: center; font-weight: bold; padding-bottom: 1.5pt"> </td>
<td colspan="2" style="white-space: nowrap; border-bottom: Black 1.5pt solid; font-weight: bold; text-align: center">Reclassified<br/>
to additional<br/>
paid-in<br/>
capital</td><td style="white-space: nowrap; text-align: center; padding-bottom: 1.5pt; font-weight: bold"> </td><td style="white-space: nowrap; text-align: center; font-weight: bold; padding-bottom: 1.5pt"> </td>
<td colspan="2" style="white-space: nowrap; border-bottom: Black 1.5pt solid; font-weight: bold; text-align: center">Warrant<br/>
liability,<br/>
June 30,<br/>
2021</td><td style="white-space: nowrap; padding-bottom: 1.5pt; font-weight: bold"> </td></tr>
<tr style="vertical-align: bottom; background-color: rgb(204,238,255)">
<td style="padding-left: 0.125in; text-indent: -0.125in; width: 28%; text-align: left">Preferred A Placement Warrants</td><td style="width: 1%"> </td>
<td style="width: 1%; text-align: left">$</td><td style="width: 9%; text-align: right"> 518</td><td style="width: 1%; text-align: left"> </td><td style="width: 1%"> </td>
<td style="width: 1%; text-align: left">$</td><td style="width: 9%; text-align: right"><div style="-sec-ix-hidden: hidden-fact-263">—</div></td><td style="width: 1%; text-align: left"> </td><td style="width: 1%"> </td>
<td style="width: 1%; text-align: left">$</td><td style="width: 9%; text-align: right"><div style="-sec-ix-hidden: hidden-fact-264">—</div></td><td style="width: 1%; text-align: left"> </td><td style="width: 1%"> </td>
<td style="width: 1%; text-align: left">$</td><td style="width: 9%; text-align: right">575</td><td style="width: 1%; text-align: left"> </td><td style="width: 1%"> </td>
<td style="width: 1%; text-align: left">$</td><td style="width: 9%; text-align: right">(1,093</td><td style="width: 1%; text-align: left">)</td><td style="width: 1%"> </td>
<td style="width: 1%; text-align: left">$</td><td style="width: 9%; text-align: right"><div style="-sec-ix-hidden: hidden-fact-265"> —</div></td><td style="width: 1%; text-align: left"> </td></tr>
<tr style="vertical-align: bottom; ">
<td style="padding-left: 0.125in; text-indent: -0.125in; text-align: left">Preferred B Placement Warrants</td><td> </td>
<td style="text-align: left"> </td><td style="text-align: right">708</td><td style="text-align: left"> </td><td> </td>
<td style="text-align: left"> </td><td style="text-align: right"><div style="-sec-ix-hidden: hidden-fact-266">—</div></td><td style="text-align: left"> </td><td> </td>
<td style="text-align: left"> </td><td style="text-align: right"><div style="-sec-ix-hidden: hidden-fact-267">—</div></td><td style="text-align: left"> </td><td> </td>
<td style="text-align: left"> </td><td style="text-align: right">800</td><td style="text-align: left"> </td><td> </td>
<td style="text-align: left"> </td><td style="text-align: right">(1,508</td><td style="text-align: left">)</td><td> </td>
<td style="text-align: left"> </td><td style="text-align: right"><div style="-sec-ix-hidden: hidden-fact-268">—</div></td><td style="text-align: left"> </td></tr>
<tr style="vertical-align: bottom; background-color: rgb(204,238,255)">
<td style="padding-left: 0.125in; text-indent: -0.125in; text-align: left; padding-bottom: 1.5pt">Convertible Notes Placement Warrants</td><td style="padding-bottom: 1.5pt"> </td>
<td style="border-bottom: Black 1.5pt solid; text-align: left"> </td><td style="border-bottom: Black 1.5pt solid; text-align: right">323</td><td style="padding-bottom: 1.5pt; text-align: left"> </td><td style="padding-bottom: 1.5pt"> </td>
<td style="border-bottom: Black 1.5pt solid; text-align: left"> </td><td style="border-bottom: Black 1.5pt solid; text-align: right"><div style="-sec-ix-hidden: hidden-fact-269"> -</div></td><td style="padding-bottom: 1.5pt; text-align: left"> </td><td style="padding-bottom: 1.5pt"> </td>
<td style="border-bottom: Black 1.5pt solid; text-align: left"> </td><td style="border-bottom: Black 1.5pt solid; text-align: right"><div style="-sec-ix-hidden: hidden-fact-270"> -</div></td><td style="padding-bottom: 1.5pt; text-align: left"> </td><td style="padding-bottom: 1.5pt"> </td>
<td style="border-bottom: Black 1.5pt solid; text-align: left"> </td><td style="border-bottom: Black 1.5pt solid; text-align: right">206</td><td style="padding-bottom: 1.5pt; text-align: left"> </td><td style="padding-bottom: 1.5pt"> </td>
<td style="border-bottom: Black 1.5pt solid; text-align: left"> </td><td style="border-bottom: Black 1.5pt solid; text-align: right">(529</td><td style="padding-bottom: 1.5pt; text-align: left">)</td><td style="padding-bottom: 1.5pt"> </td>
<td style="border-bottom: Black 1.5pt solid; text-align: left"> </td><td style="border-bottom: Black 1.5pt solid; text-align: right"><div style="-sec-ix-hidden: hidden-fact-271">—</div></td><td style="padding-bottom: 1.5pt; text-align: left"> </td></tr>
<tr style="vertical-align: bottom; ">
<td style="padding-left: 0.125in; text-indent: -0.125in; padding-bottom: 4pt"> </td><td style="padding-bottom: 4pt"> </td>
<td style="border-bottom: Black 4pt double; text-align: left">$</td><td style="border-bottom: Black 4pt double; text-align: right">1,549</td><td style="padding-bottom: 4pt; text-align: left"> </td><td style="padding-bottom: 4pt"> </td>
<td style="border-bottom: Black 4pt double; text-align: left">$</td><td style="border-bottom: Black 4pt double; text-align: right"><div style="-sec-ix-hidden: hidden-fact-272">—</div></td><td style="padding-bottom: 4pt; text-align: left"> </td><td style="padding-bottom: 4pt"> </td>
<td style="border-bottom: Black 4pt double; text-align: left">$</td><td style="border-bottom: Black 4pt double; text-align: right"><div style="-sec-ix-hidden: hidden-fact-273">—</div></td><td style="padding-bottom: 4pt; text-align: left"> </td><td style="padding-bottom: 4pt"> </td>
<td style="border-bottom: Black 4pt double; text-align: left">$</td><td style="border-bottom: Black 4pt double; text-align: right">1,581</td><td style="padding-bottom: 4pt; text-align: left"> </td><td style="padding-bottom: 4pt"> </td>
<td style="border-bottom: Black 4pt double; text-align: left">$</td><td style="border-bottom: Black 4pt double; text-align: right">(3,130</td><td style="padding-bottom: 4pt; text-align: left">)</td><td style="padding-bottom: 4pt"> </td>
<td style="border-bottom: Black 4pt double; text-align: left">$</td><td style="border-bottom: Black 4pt double; text-align: right"><div style="-sec-ix-hidden: hidden-fact-274">—</div></td><td style="padding-bottom: 4pt; text-align: left"> </td></tr>
</table><p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify"><b> </b></p><p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify">The fair values of the outstanding warrants accounted
for as liabilities at the IPO date are calculated using the Black-Scholes option pricing model with the following assumptions:</p><p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify"> </p><table cellpadding="0" cellspacing="0" style="font: 10pt Times New Roman, Times, Serif; border-collapse: collapse; width: 100%">
<tr style="vertical-align: bottom">
<td> </td><td style="font-weight: bold; padding-bottom: 1.5pt"> </td>
<td colspan="14" style="border-bottom: Black 1.5pt solid; font-weight: bold; text-align: center">Black-Scholes Fair Value Assumptions
at IPO Date</td><td style="padding-bottom: 1.5pt; font-weight: bold"> </td></tr>
<tr style="vertical-align: bottom">
<td style="border-bottom: Black 1.5pt solid; font-weight: bold">Warrant Issuance</td><td style="font-weight: bold; padding-bottom: 1.5pt"> </td>
<td colspan="2" style="border-bottom: Black 1.5pt solid; font-weight: bold; text-align: center">Dividend<br/> Yield</td><td style="padding-bottom: 1.5pt; font-weight: bold"> </td><td style="font-weight: bold; padding-bottom: 1.5pt"> </td>
<td colspan="2" style="border-bottom: Black 1.5pt solid; font-weight: bold; text-align: center">Expected<br/> Volatility</td><td style="padding-bottom: 1.5pt; font-weight: bold"> </td><td style="font-weight: bold; padding-bottom: 1.5pt"> </td>
<td colspan="2" style="border-bottom: Black 1.5pt solid; font-weight: bold; text-align: center">Risk-Free<br/> Interest<br/> Rate</td><td style="padding-bottom: 1.5pt; font-weight: bold"> </td><td style="font-weight: bold; padding-bottom: 1.5pt"> </td>
<td colspan="2" style="border-bottom: Black 1.5pt solid; font-weight: bold; text-align: center">Expected<br/> Life</td><td style="padding-bottom: 1.5pt; font-weight: bold"> </td></tr>
<tr style="vertical-align: bottom; background-color: rgb(204,238,255)">
<td style="width: 52%; text-align: left">Preferred A Placement Warrants</td><td style="width: 1%"> </td>
<td style="width: 1%; text-align: left"> </td><td style="width: 9%; text-align: right"><div style="-sec-ix-hidden: hidden-fact-275">—</div></td><td style="width: 1%; text-align: left">%</td><td style="width: 1%"> </td>
<td style="width: 1%; text-align: left"> </td><td style="width: 9%; text-align: right">59.21</td><td style="width: 1%; text-align: left">%</td><td style="width: 1%"> </td>
<td style="width: 1%; text-align: left"> </td><td style="width: 9%; text-align: right">0.14</td><td style="width: 1%; text-align: left">%</td><td style="width: 1%"> </td>
<td style="width: 1%; text-align: left"> </td><td style="width: 9%; text-align: center"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">2.0 years</span></td><td style="width: 1%; text-align: left"> </td></tr>
<tr style="vertical-align: bottom; ">
<td style="text-align: left">Preferred B Placement Warrants</td><td> </td>
<td style="text-align: left"> </td><td style="text-align: right"><div style="-sec-ix-hidden: hidden-fact-276">—</div></td><td style="text-align: left">%</td><td> </td>
<td style="text-align: left"> </td><td style="text-align: right">58.51</td><td style="text-align: left">%</td><td> </td>
<td style="text-align: left"> </td><td style="text-align: right">0.30</td><td style="text-align: left">%</td><td> </td>
<td style="text-align: left"> </td><td style="text-align: center"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">3.0 years</span></td><td style="text-align: left"> </td></tr>
<tr style="vertical-align: bottom; background-color: rgb(204,238,255)">
<td style="text-align: left">Convertible Note Placement Warrants</td><td> </td>
<td style="text-align: left"> </td><td style="text-align: right"><div style="-sec-ix-hidden: hidden-fact-277">—</div></td><td style="text-align: left">%</td><td> </td>
<td style="text-align: left"> </td><td style="text-align: right">52.28</td><td style="text-align: left">%</td><td> </td>
<td style="text-align: left"> </td><td style="text-align: right">0.82</td><td style="text-align: left">%</td><td> </td>
<td style="text-align: left"> </td><td style="text-align: center"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">4.4 years</span></td><td style="text-align: left"> </td></tr>
</table><p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify"> </p><p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify">Upon the conversion of the redeemable convertible
preferred stock and the Convertible Notes into common stock at the IPO date, the estimated fair value of the outstanding warrants accounted
for as liabilities of $3.1 million was reclassified to additional paid-in capital.</p><p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0"> </p><p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify"><b>Warrants Classified as Equity</b></p><p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify"> </p><p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify">Certain warrants are classified as equity instruments
since they do not meet the characteristics of a liability or a derivative and are recorded at fair value on the date of issuance using
the Black-Scholes option pricing model with the following assumptions. The fair value as determined at the issuance date is recorded
as an issuance cost of the related stock. There were no warrants classified as equity issued during the three and six months ended June
30, 2022, nor during the three months ended June 30, 2021. Those warrants and the assumptions used to calculate the fair value at issuance are as follows for the warrants
issued during the six months ended June 30, 2021:</p><p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify"> </p><table cellpadding="0" cellspacing="0" style="font: 10pt Times New Roman, Times, Serif; border-collapse: collapse; width: 100%">
<tr style="vertical-align: bottom">
<td style="padding-bottom: 1.5pt; text-align: center"> </td><td style="padding-bottom: 1.5pt; font-weight: bold"> </td>
<td colspan="19" style="border-bottom: Black 1.5pt solid; font-weight: bold; text-align: center">Black-Scholes Fair Value Assumptions</td></tr>
<tr style="vertical-align: bottom">
<td style="border-bottom: Black 1.5pt solid; font-weight: bold; text-align: left">Warrant Issuance</td><td style="padding-bottom: 1.5pt; font-weight: bold"> </td>
<td style="border-bottom: Black 1.5pt solid; font-weight: bold; text-align: center">Issuance<br/>
Date</td><td style="text-align: center; padding-bottom: 1.5pt; font-weight: bold"> </td>
<td colspan="2" style="border-bottom: Black 1.5pt solid; font-weight: bold; text-align: center">Fair Value<br/>
(in ooo’s)</td><td style="text-align: center; padding-bottom: 1.5pt; font-weight: bold"> </td><td style="text-align: center; padding-bottom: 1.5pt; font-weight: bold"> </td>
<td colspan="2" style="border-bottom: Black 1.5pt solid; font-weight: bold; text-align: center">Dividend<br/>
Yield</td><td style="text-align: center; padding-bottom: 1.5pt; font-weight: bold"> </td><td style="text-align: center; padding-bottom: 1.5pt; font-weight: bold"> </td>
<td colspan="2" style="border-bottom: Black 1.5pt solid; font-weight: bold; text-align: center">Expected<br/>
Volatility</td><td style="text-align: center; padding-bottom: 1.5pt; font-weight: bold"> </td><td style="text-align: center; padding-bottom: 1.5pt; font-weight: bold"> </td>
<td colspan="2" style="border-bottom: Black 1.5pt solid; font-weight: bold; text-align: center">Risk-Free<br/>
Interest<br/>
Rate</td><td style="text-align: center; padding-bottom: 1.5pt; font-weight: bold"> </td><td style="text-align: center; padding-bottom: 1.5pt; font-weight: bold"> </td>
<td style="border-bottom: Black 1.5pt solid; font-weight: bold; text-align: center">Expected<br/>
Life</td></tr>
<tr style="vertical-align: bottom; background-color: rgb(204,238,255)">
<td style="width: 28%; text-align: left">Underwriter Warrants</td><td style="width: 1%"> </td>
<td style="text-align: center; width: 11%">March 2021</td><td style="width: 1%"> </td>
<td style="width: 1%; text-align: left">$</td><td style="width: 9%; text-align: right">2,349</td><td style="width: 1%; text-align: left"> </td><td style="width: 1%"> </td>
<td style="width: 1%; text-align: left"> </td><td style="width: 9%; text-align: right"><span style="-sec-ix-hidden: hidden-fact-278; font-family: Times New Roman, Times, Serif; font-size: 10pt">—</span></td><td style="width: 1%; text-align: left">%</td><td style="width: 1%"> </td>
<td style="width: 1%; text-align: left"> </td><td style="width: 9%; text-align: right">52.58</td><td style="width: 1%; text-align: left">%</td><td style="width: 1%"> </td>
<td style="width: 1%; text-align: left"> </td><td style="width: 9%; text-align: right">0.82</td><td style="width: 1%; text-align: left">%</td><td style="width: 1%"> </td>
<td style="text-align: center; width: 11%">5.0 years</td></tr>
</table>
In connection with the closing of the Series
A preferred stock offering, the Company issued warrants (“Preferred A Placement Warrants”) to purchase a total of 133,648
shares of its common stock to NSC on March 14, 2018 and April 23, 2018.
0.10
1336485
242847
50195
52500
0.0125
414270
P5Y
2.1
0.10
4142270
49528
10000
214050
2.97
2.57
42220
0.0979
956973
6
P5Y
<table cellpadding="0" cellspacing="0" style="font: 10pt Times New Roman, Times, Serif; border-collapse: collapse; width: 100%">
<tr style="vertical-align: bottom">
<td style="border-bottom: Black 1.5pt solid; vertical-align: bottom; text-align: center; font-weight: bold">Warrant Issuance</td><td style="text-align: center; font-weight: bold; padding-bottom: 1.5pt"> </td>
<td colspan="2" style="border-bottom: Black 1.5pt solid; vertical-align: bottom; font-weight: bold; text-align: center">Issuance</td><td style="text-align: center; padding-bottom: 1.5pt; font-weight: bold"> </td><td style="text-align: center; font-weight: bold; padding-bottom: 1.5pt"> </td>
<td colspan="2" style="border-bottom: Black 1.5pt solid; font-weight: bold; text-align: center">Exercise<br/> Price</td><td style="text-align: center; padding-bottom: 1.5pt; font-weight: bold"> </td><td style="text-align: center; font-weight: bold; padding-bottom: 1.5pt"> </td>
<td colspan="2" style="border-bottom: Black 1.5pt solid; font-weight: bold; text-align: center">Outstanding,<br/> December 31,<br/>
2021</td><td style="text-align: center; padding-bottom: 1.5pt; font-weight: bold"> </td><td style="text-align: center; font-weight: bold; padding-bottom: 1.5pt"> </td>
<td colspan="2" style="border-bottom: Black 1.5pt solid; font-weight: bold; text-align: center">Granted</td><td style="text-align: center; padding-bottom: 1.5pt; font-weight: bold"> </td><td style="text-align: center; font-weight: bold; padding-bottom: 1.5pt"> </td>
<td colspan="2" style="border-bottom: Black 1.5pt solid; font-weight: bold; text-align: center">Exercised</td><td style="text-align: center; padding-bottom: 1.5pt; font-weight: bold"> </td><td style="text-align: center; font-weight: bold; padding-bottom: 1.5pt"> </td>
<td colspan="2" style="border-bottom: Black 1.5pt solid; font-weight: bold; text-align: center">Canceled/<br/> Expired</td><td style="text-align: center; padding-bottom: 1.5pt; font-weight: bold"> </td><td style="text-align: center; font-weight: bold; padding-bottom: 1.5pt"> </td>
<td colspan="2" style="border-bottom: Black 1.5pt solid; font-weight: bold; text-align: center">Variable<br/>
Settlement<br/>
Provision<br/>
Adjustment</td><td style="text-align: center; padding-bottom: 1.5pt; font-weight: bold"> </td><td style="text-align: center; font-weight: bold; padding-bottom: 1.5pt"> </td>
<td colspan="2" style="border-bottom: Black 1.5pt solid; font-weight: bold; text-align: center">Outstanding,<br/> June 30,<br/> 2022</td><td style="text-align: center; padding-bottom: 1.5pt; font-weight: bold"> </td><td style="text-align: center; font-weight: bold; padding-bottom: 1.5pt"> </td>
<td colspan="2" style="border-bottom: Black 1.5pt solid; vertical-align: bottom; font-weight: bold; text-align: center">Expiration</td><td style="text-align: center; padding-bottom: 1.5pt; font-weight: bold"> </td></tr>
<tr style="vertical-align: bottom; background-color: rgb(204,238,255)">
<td style="vertical-align: top; padding-left: 0.125in; text-indent: -0.125in; width: 10%; text-align: left">Preferred A Placement
Warrants</td><td style="width: 1%"> </td>
<td style="vertical-align: top; width: 1%; text-align: center"> </td><td style="vertical-align: top; width: 7%; text-align: center"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">March and April <br/> 2018 and August <br/> 2019</span></td><td style="width: 1%; text-align: left"> </td><td style="width: 1%"> </td>
<td style="width: 1%; text-align: left">$</td><td style="width: 7%; text-align: right">1.40</td><td style="width: 1%; text-align: left"> </td><td style="width: 1%"> </td>
<td style="width: 1%; text-align: left"> </td><td style="width: 7%; text-align: right">293,042</td><td style="width: 1%; text-align: left"> </td><td style="width: 1%"> </td>
<td style="width: 1%; text-align: left"> </td><td style="width: 7%; text-align: right">—</td><td style="width: 1%; text-align: left"> </td><td style="width: 1%"> </td>
<td style="width: 1%; text-align: left"> </td><td style="width: 7%; text-align: right"><div style="-sec-ix-hidden: hidden-fact-262">—</div></td><td style="width: 1%; text-align: left"> </td><td style="width: 1%"> </td>
<td style="width: 1%; text-align: left"> </td><td style="width: 7%; text-align: right">—</td><td style="width: 1%; text-align: left"> </td><td style="width: 1%"> </td>
<td style="width: 1%; text-align: left"> </td><td style="width: 7%; text-align: right">—</td><td style="width: 1%; text-align: left"> </td><td style="width: 1%"> </td>
<td style="width: 1%; text-align: left"> </td><td style="width: 7%; text-align: right">293,042</td><td style="width: 1%; text-align: left"> </td><td style="width: 1%"> </td>
<td style="vertical-align: top; width: 1%; text-align: center"> </td><td style="vertical-align: top; width: 7%; text-align: center"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">March and April 2023</span></td><td style="width: 1%; text-align: left"> </td></tr>
<tr style="vertical-align: bottom; ">
<td style="vertical-align: top; padding-left: 0.125in; text-indent: -0.125in; text-align: left">Preferred A Lead Investor Warrants</td><td> </td>
<td style="vertical-align: top; text-align: center"> </td><td style="vertical-align: top; text-align: center"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">February 2021</span></td><td style="text-align: left"> </td><td> </td>
<td style="text-align: left">$</td><td style="text-align: right">0.0125</td><td style="text-align: left"> </td><td> </td>
<td style="text-align: left"> </td><td style="text-align: right">52,500</td><td style="text-align: left"> </td><td> </td>
<td style="text-align: left"> </td><td style="text-align: right">—</td><td style="text-align: left"> </td><td> </td>
<td style="text-align: left"> </td><td style="text-align: right">—</td><td style="text-align: left"> </td><td> </td>
<td style="text-align: left"> </td><td style="text-align: right">—</td><td style="text-align: left"> </td><td> </td>
<td style="text-align: left"> </td><td style="text-align: right">—</td><td style="text-align: left"> </td><td> </td>
<td style="text-align: left"> </td><td style="text-align: right">52,500</td><td style="text-align: left"> </td><td> </td>
<td style="vertical-align: top; text-align: center"> </td><td style="vertical-align: top; text-align: center"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">March 2023</span></td><td style="text-align: left"> </td></tr>
<tr style="vertical-align: bottom; background-color: rgb(204,238,255)">
<td style="vertical-align: top; padding-left: 0.125in; text-indent: -0.125in; text-align: left">Preferred B Placement Warrants</td><td> </td>
<td style="vertical-align: top; text-align: center"> </td><td style="vertical-align: top; text-align: center"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">April 2019</span></td><td style="text-align: left"> </td><td> </td>
<td style="text-align: left">$</td><td style="text-align: right">2.10</td><td style="text-align: left"> </td><td> </td>
<td style="text-align: left"> </td><td style="text-align: right">463,798</td><td style="text-align: left"> </td><td> </td>
<td style="text-align: left"> </td><td style="text-align: right">—</td><td style="text-align: left"> </td><td> </td>
<td style="text-align: left"> </td><td style="text-align: right">—</td><td style="text-align: left"> </td><td> </td>
<td style="text-align: left"> </td><td style="text-align: right">—</td><td style="text-align: left"> </td><td> </td>
<td style="text-align: left"> </td><td style="text-align: right">—</td><td style="text-align: left"> </td><td> </td>
<td style="text-align: left"> </td><td style="text-align: right">463,798</td><td style="text-align: left"> </td><td> </td>
<td style="vertical-align: top; text-align: center"> </td><td style="vertical-align: top; text-align: center"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">April 2024</span></td><td style="text-align: left"> </td></tr>
<tr style="vertical-align: bottom; ">
<td style="vertical-align: top; padding-left: 0.125in; text-indent: -0.125in; text-align: left">Convertible Notes Placement Warrants</td><td> </td>
<td style="vertical-align: top; text-align: center"> </td><td style="vertical-align: top; text-align: center"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">August 2020</span></td><td style="text-align: left"> </td><td> </td>
<td style="text-align: left">$</td><td style="text-align: right">2.57</td><td style="text-align: left"> </td><td> </td>
<td style="text-align: left"> </td><td style="text-align: right">171,830</td><td style="text-align: left"> </td><td> </td>
<td style="text-align: left"> </td><td style="text-align: right">—</td><td style="text-align: left"> </td><td> </td>
<td style="text-align: left"> </td><td style="text-align: right">—</td><td style="text-align: left"> </td><td> </td>
<td style="text-align: left"> </td><td style="text-align: right">—</td><td style="text-align: left"> </td><td> </td>
<td style="text-align: left"> </td><td style="text-align: right">—</td><td style="text-align: left"> </td><td> </td>
<td style="text-align: left"> </td><td style="text-align: right">171,830</td><td style="text-align: left"> </td><td> </td>
<td style="vertical-align: top; text-align: center"> </td><td style="vertical-align: top; text-align: center"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">August 2025</span></td><td style="text-align: left"> </td></tr>
<tr style="vertical-align: bottom; background-color: rgb(204,238,255)">
<td style="vertical-align: top; padding-left: 0.125in; text-indent: -0.125in; text-align: left; padding-bottom: 1.5pt">Underwriter
Warrants</td><td style="padding-bottom: 1.5pt"> </td>
<td style="vertical-align: top; padding-bottom: 1.5pt; text-align: center"> </td><td style="vertical-align: top; padding-bottom: 1.5pt; text-align: center"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">March 2021</span></td><td style="padding-bottom: 1.5pt; text-align: left"> </td><td style="padding-bottom: 1.5pt"> </td>
<td style="padding-bottom: 1.5pt; text-align: left">$</td><td style="padding-bottom: 1.5pt; text-align: right">6.00</td><td style="padding-bottom: 1.5pt; text-align: left"> </td><td style="padding-bottom: 1.5pt"> </td>
<td style="border-bottom: Black 1.5pt solid; text-align: left"> </td><td style="border-bottom: Black 1.5pt solid; text-align: right">956,973</td><td style="padding-bottom: 1.5pt; text-align: left"> </td><td style="padding-bottom: 1.5pt"> </td>
<td style="border-bottom: Black 1.5pt solid; text-align: left"> </td><td style="border-bottom: Black 1.5pt solid; text-align: right">—</td><td style="padding-bottom: 1.5pt; text-align: left"> </td><td style="padding-bottom: 1.5pt"> </td>
<td style="border-bottom: Black 1.5pt solid; text-align: left"> </td><td style="border-bottom: Black 1.5pt solid; text-align: right">—</td><td style="padding-bottom: 1.5pt; text-align: left"> </td><td style="padding-bottom: 1.5pt"> </td>
<td style="border-bottom: Black 1.5pt solid; text-align: left"> </td><td style="border-bottom: Black 1.5pt solid; text-align: right">—</td><td style="padding-bottom: 1.5pt; text-align: left"> </td><td style="padding-bottom: 1.5pt"> </td>
<td style="border-bottom: Black 1.5pt solid; text-align: left"> </td><td style="border-bottom: Black 1.5pt solid; text-align: right">—</td><td style="padding-bottom: 1.5pt; text-align: left"> </td><td style="padding-bottom: 1.5pt"> </td>
<td style="border-bottom: Black 1.5pt solid; text-align: left"> </td><td style="border-bottom: Black 1.5pt solid; text-align: right">956,973</td><td style="padding-bottom: 1.5pt; text-align: left"> </td><td style="padding-bottom: 1.5pt"> </td>
<td style="vertical-align: top; padding-bottom: 1.5pt; text-align: center"> </td><td style="vertical-align: top; padding-bottom: 1.5pt; text-align: center"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">March 2026</span></td><td style="padding-bottom: 1.5pt; text-align: left"> </td></tr>
<tr style="vertical-align: bottom; ">
<td style="text-align: left; padding-left: 0.125in; text-indent: -0.125in; padding-bottom: 4pt; vertical-align: top"> </td><td style="padding-bottom: 4pt"> </td>
<td style="vertical-align: top; padding-bottom: 4pt; text-align: center"> </td><td style="vertical-align: top; padding-bottom: 4pt; text-align: center"> </td><td style="padding-bottom: 4pt; text-align: left"> </td><td style="padding-bottom: 4pt"> </td>
<td style="padding-bottom: 4pt; text-align: left"> </td><td style="padding-bottom: 4pt; text-align: right"> </td><td style="padding-bottom: 4pt; text-align: left"> </td><td style="padding-bottom: 4pt"> </td>
<td style="border-bottom: Black 4pt double; text-align: left"> </td><td style="border-bottom: Black 4pt double; text-align: right">1,938,143</td><td style="padding-bottom: 4pt; text-align: left"> </td><td style="padding-bottom: 4pt"> </td>
<td style="border-bottom: Black 4pt double; text-align: left"> </td><td style="border-bottom: Black 4pt double; text-align: right">—</td><td style="padding-bottom: 4pt; text-align: left"> </td><td style="padding-bottom: 4pt"> </td>
<td style="border-bottom: Black 4pt double; text-align: left"> </td><td style="border-bottom: Black 4pt double; text-align: right">—</td><td style="padding-bottom: 4pt; text-align: left"> </td><td style="padding-bottom: 4pt"> </td>
<td style="border-bottom: Black 4pt double; text-align: left"> </td><td style="border-bottom: Black 4pt double; text-align: right">—</td><td style="padding-bottom: 4pt; text-align: left"> </td><td style="padding-bottom: 4pt"> </td>
<td style="border-bottom: Black 4pt double; text-align: left"> </td><td style="border-bottom: Black 4pt double; text-align: right">—</td><td style="padding-bottom: 4pt; text-align: left"> </td><td style="padding-bottom: 4pt"> </td>
<td style="border-bottom: Black 4pt double; text-align: left"> </td><td style="border-bottom: Black 4pt double; text-align: right">1,938,143</td><td style="padding-bottom: 4pt; text-align: left"> </td><td style="padding-bottom: 4pt"> </td>
<td style="vertical-align: top; padding-bottom: 4pt; text-align: center"> </td><td style="vertical-align: top; padding-bottom: 4pt; text-align: center"> </td><td style="padding-bottom: 4pt; text-align: left"> </td></tr>
</table><p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify"><b> </b></p><table cellpadding="0" cellspacing="0" style="font: 10pt Times New Roman, Times, Serif; border-collapse: collapse; width: 100%">
<tr style="vertical-align: bottom">
<td style="border-bottom: Black 1.5pt solid; vertical-align: bottom; text-align: center; padding-left: 0.125in; text-indent: -0.125in; font-weight: bold">Warrant Issuance</td><td style="font-weight: bold; padding-bottom: 1.5pt"> </td>
<td colspan="2" style="border-bottom: Black 1.5pt solid; vertical-align: bottom; font-weight: bold; text-align: center">Issuance</td><td style="text-align: center; padding-bottom: 1.5pt; font-weight: bold"> </td><td style="text-align: center; font-weight: bold; padding-bottom: 1.5pt"> </td>
<td colspan="2" style="border-bottom: Black 1.5pt solid; font-weight: bold; text-align: center">Exercise<br/> Price</td><td style="text-align: center; padding-bottom: 1.5pt; font-weight: bold"> </td><td style="text-align: center; font-weight: bold; padding-bottom: 1.5pt"> </td>
<td colspan="2" style="border-bottom: Black 1.5pt solid; font-weight: bold; text-align: center">Outstanding,<br/> December 31,<br/>
2020</td><td style="text-align: center; padding-bottom: 1.5pt; font-weight: bold"> </td><td style="text-align: center; font-weight: bold; padding-bottom: 1.5pt"> </td>
<td colspan="2" style="border-bottom: Black 1.5pt solid; font-weight: bold; text-align: center">Granted</td><td style="text-align: center; padding-bottom: 1.5pt; font-weight: bold"> </td><td style="text-align: center; font-weight: bold; padding-bottom: 1.5pt"> </td>
<td colspan="2" style="border-bottom: Black 1.5pt solid; font-weight: bold; text-align: center">Exercised</td><td style="text-align: center; padding-bottom: 1.5pt; font-weight: bold"> </td><td style="text-align: center; font-weight: bold; padding-bottom: 1.5pt"> </td>
<td colspan="2" style="border-bottom: Black 1.5pt solid; font-weight: bold; text-align: center">Canceled/<br/> Expired</td><td style="text-align: center; padding-bottom: 1.5pt; font-weight: bold"> </td><td style="text-align: center; font-weight: bold; padding-bottom: 1.5pt"> </td>
<td colspan="2" style="border-bottom: Black 1.5pt solid; font-weight: bold; text-align: center">Variable<br/>
Settlement<br/>
Provision<br/>
Adjustment</td><td style="text-align: center; padding-bottom: 1.5pt; font-weight: bold"> </td><td style="text-align: center; font-weight: bold; padding-bottom: 1.5pt"> </td>
<td colspan="2" style="border-bottom: Black 1.5pt solid; font-weight: bold; text-align: center">Outstanding,<br/> June 30,<br/> 2021</td><td style="text-align: center; padding-bottom: 1.5pt; font-weight: bold"> </td><td style="text-align: center; font-weight: bold; padding-bottom: 1.5pt"> </td>
<td colspan="2" style="border-bottom: Black 1.5pt solid; vertical-align: bottom; font-weight: bold; text-align: center">Expiration</td><td style="padding-bottom: 1.5pt; font-weight: bold"> </td></tr>
<tr style="vertical-align: bottom; background-color: rgb(204,238,255)">
<td style="vertical-align: top; padding-left: 0.125in; text-indent: -0.125in; width: 10%; text-align: left">Preferred A Placement
Warrants</td><td style="width: 1%"> </td>
<td style="vertical-align: top; width: 1%; text-align: center"> </td><td style="vertical-align: top; width: 7%; text-align: center"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">March and April <br/> 2018 and August <br/> 2019</span></td><td style="width: 1%; text-align: left"> </td><td style="width: 1%"> </td>
<td style="width: 1%; text-align: left">$</td><td style="width: 7%; text-align: right">1.40</td><td style="width: 1%; text-align: left"> </td><td style="width: 1%"> </td>
<td style="width: 1%; text-align: left"> </td><td style="width: 7%; text-align: right">242,847</td><td style="width: 1%; text-align: left"> </td><td style="width: 1%"> </td>
<td style="width: 1%; text-align: left"> </td><td style="width: 7%; text-align: right">—</td><td style="width: 1%; text-align: left"> </td><td style="width: 1%"> </td>
<td style="width: 1%; text-align: left"> </td><td style="width: 7%; text-align: right">—</td><td style="width: 1%; text-align: left"> </td><td style="width: 1%"> </td>
<td style="width: 1%; text-align: left"> </td><td style="width: 7%; text-align: right">—</td><td style="width: 1%; text-align: left"> </td><td style="width: 1%"> </td>
<td style="width: 1%; text-align: left"> </td><td style="width: 7%; text-align: right">50,195</td><td style="width: 1%; text-align: left"> </td><td style="width: 1%"> </td>
<td style="width: 1%; text-align: left"> </td><td style="width: 7%; text-align: right">293,042</td><td style="width: 1%; text-align: left"> </td><td style="width: 1%"> </td>
<td style="vertical-align: top; width: 1%; text-align: center"> </td><td style="vertical-align: top; width: 7%; text-align: center"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">March and April 2023</span></td><td style="width: 1%; text-align: left"> </td></tr>
<tr style="vertical-align: bottom; ">
<td style="vertical-align: top; padding-left: 0.125in; text-indent: -0.125in; text-align: left">Preferred A Lead Investor Warrants</td><td> </td>
<td style="vertical-align: top; text-align: center"> </td><td style="vertical-align: top; text-align: center"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">February 2021</span></td><td style="text-align: left"> </td><td> </td>
<td style="text-align: left">$</td><td style="text-align: right">0.0125</td><td style="text-align: left"> </td><td> </td>
<td style="text-align: left"> </td><td style="text-align: right">—</td><td style="text-align: left"> </td><td> </td>
<td style="text-align: left"> </td><td style="text-align: right">52,500</td><td style="text-align: left"> </td><td> </td>
<td style="text-align: left"> </td><td style="text-align: right">—</td><td style="text-align: left"> </td><td> </td>
<td style="text-align: left"> </td><td style="text-align: right">—</td><td style="text-align: left"> </td><td> </td>
<td style="text-align: left"> </td><td style="text-align: right">—</td><td style="text-align: left"> </td><td> </td>
<td style="text-align: left"> </td><td style="text-align: right">52,500</td><td style="text-align: left"> </td><td> </td>
<td style="vertical-align: top; text-align: center"> </td><td style="vertical-align: top; text-align: center"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">March 2023</span></td><td style="text-align: left"> </td></tr>
<tr style="vertical-align: bottom; background-color: rgb(204,238,255)">
<td style="vertical-align: top; padding-left: 0.125in; text-indent: -0.125in; text-align: left">Preferred B Placement Warrants</td><td> </td>
<td style="vertical-align: top; text-align: center"> </td><td style="vertical-align: top; text-align: center"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">April 2019</span></td><td style="text-align: left"> </td><td> </td>
<td style="text-align: left">$</td><td style="text-align: right">2.10</td><td style="text-align: left"> </td><td> </td>
<td style="text-align: left"> </td><td style="text-align: right">414,270</td><td style="text-align: left"> </td><td> </td>
<td style="text-align: left"> </td><td style="text-align: right">—</td><td style="text-align: left"> </td><td> </td>
<td style="text-align: left"> </td><td style="text-align: right">—</td><td style="text-align: left"> </td><td> </td>
<td style="text-align: left"> </td><td style="text-align: right">—</td><td style="text-align: left"> </td><td> </td>
<td style="text-align: left"> </td><td style="text-align: right">49,528</td><td style="text-align: left"> </td><td> </td>
<td style="text-align: left"> </td><td style="text-align: right">463,798</td><td style="text-align: left"> </td><td> </td>
<td style="vertical-align: top; text-align: center"> </td><td style="vertical-align: top; text-align: center"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">April 2024</span></td><td style="text-align: left"> </td></tr>
<tr style="vertical-align: bottom; ">
<td style="vertical-align: top; padding-left: 0.125in; text-indent: -0.125in; text-align: left">Convertible Notes Placement Warrants</td><td> </td>
<td style="vertical-align: top; text-align: center"> </td><td style="vertical-align: top; text-align: center"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">August 2020</span></td><td style="text-align: left"> </td><td> </td>
<td style="text-align: left">$</td><td style="text-align: right">2.57</td><td style="text-align: left"> </td><td> </td>
<td style="text-align: left"> </td><td style="text-align: right">214,050</td><td style="text-align: left"> </td><td> </td>
<td style="text-align: left"> </td><td style="text-align: right">—</td><td style="text-align: left"> </td><td> </td>
<td style="text-align: left"> </td><td style="text-align: right">—</td><td style="text-align: left"> </td><td> </td>
<td style="text-align: left"> </td><td style="text-align: right">(42,220</td><td style="text-align: left">)</td><td> </td>
<td style="text-align: left"> </td><td style="text-align: right">—</td><td style="text-align: left"> </td><td> </td>
<td style="text-align: left"> </td><td style="text-align: right">171,830</td><td style="text-align: left"> </td><td> </td>
<td style="vertical-align: top; text-align: center"> </td><td style="vertical-align: top; text-align: center"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">August 2025</span></td><td style="text-align: left"> </td></tr>
<tr style="vertical-align: bottom; background-color: rgb(204,238,255)">
<td style="vertical-align: top; padding-left: 0.125in; text-indent: -0.125in; text-align: left; padding-bottom: 1.5pt">Underwriter
Warrants</td><td style="padding-bottom: 1.5pt"> </td>
<td style="vertical-align: top; padding-bottom: 1.5pt; text-align: center"> </td><td style="vertical-align: top; padding-bottom: 1.5pt; text-align: center"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">March 2021</span></td><td style="padding-bottom: 1.5pt; text-align: left"> </td><td style="padding-bottom: 1.5pt"> </td>
<td style="padding-bottom: 1.5pt; text-align: left">$</td><td style="padding-bottom: 1.5pt; text-align: right">6.00</td><td style="padding-bottom: 1.5pt; text-align: left"> </td><td style="padding-bottom: 1.5pt"> </td>
<td style="border-bottom: Black 1.5pt solid; text-align: left"> </td><td style="border-bottom: Black 1.5pt solid; text-align: right">—</td><td style="padding-bottom: 1.5pt; text-align: left"> </td><td style="padding-bottom: 1.5pt"> </td>
<td style="border-bottom: Black 1.5pt solid; text-align: left"> </td><td style="border-bottom: Black 1.5pt solid; text-align: right">956,973</td><td style="padding-bottom: 1.5pt; text-align: left"> </td><td style="padding-bottom: 1.5pt"> </td>
<td style="border-bottom: Black 1.5pt solid; text-align: left"> </td><td style="border-bottom: Black 1.5pt solid; text-align: right">—</td><td style="padding-bottom: 1.5pt; text-align: left"> </td><td style="padding-bottom: 1.5pt"> </td>
<td style="border-bottom: Black 1.5pt solid; text-align: left"> </td><td style="border-bottom: Black 1.5pt solid; text-align: right">—</td><td style="padding-bottom: 1.5pt; text-align: left"> </td><td style="padding-bottom: 1.5pt"> </td>
<td style="border-bottom: Black 1.5pt solid; text-align: left"> </td><td style="border-bottom: Black 1.5pt solid; text-align: right">—</td><td style="padding-bottom: 1.5pt; text-align: left"> </td><td style="padding-bottom: 1.5pt"> </td>
<td style="border-bottom: Black 1.5pt solid; text-align: left"> </td><td style="border-bottom: Black 1.5pt solid; text-align: right">956,973</td><td style="padding-bottom: 1.5pt; text-align: left"> </td><td style="padding-bottom: 1.5pt"> </td>
<td style="vertical-align: top; padding-bottom: 1.5pt; text-align: center"> </td><td style="vertical-align: top; padding-bottom: 1.5pt; text-align: center"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">March 2026</span></td><td style="padding-bottom: 1.5pt; text-align: left"> </td></tr>
<tr style="vertical-align: bottom; ">
<td style="text-align: left; padding-left: 0.125in; text-indent: -0.125in; padding-bottom: 4pt; vertical-align: top"> </td><td style="padding-bottom: 4pt"> </td>
<td style="vertical-align: top; padding-bottom: 4pt; text-align: center"> </td><td style="vertical-align: top; padding-bottom: 4pt; text-align: center"> </td><td style="padding-bottom: 4pt; text-align: left"> </td><td style="padding-bottom: 4pt"> </td>
<td style="padding-bottom: 4pt; text-align: left"> </td><td style="padding-bottom: 4pt; text-align: right"> </td><td style="padding-bottom: 4pt; text-align: left"> </td><td style="padding-bottom: 4pt"> </td>
<td style="border-bottom: Black 4pt double; text-align: left"> </td><td style="border-bottom: Black 4pt double; text-align: right">871,167</td><td style="padding-bottom: 4pt; text-align: left"> </td><td style="padding-bottom: 4pt"> </td>
<td style="border-bottom: Black 4pt double; text-align: left"> </td><td style="border-bottom: Black 4pt double; text-align: right">1,009,473</td><td style="padding-bottom: 4pt; text-align: left"> </td><td style="padding-bottom: 4pt"> </td>
<td style="border-bottom: Black 4pt double; text-align: left"> </td><td style="border-bottom: Black 4pt double; text-align: right">—</td><td style="padding-bottom: 4pt; text-align: left"> </td><td style="padding-bottom: 4pt"> </td>
<td style="border-bottom: Black 4pt double; text-align: left"> </td><td style="border-bottom: Black 4pt double; text-align: right">(42,220</td><td style="padding-bottom: 4pt; text-align: left">)</td><td style="padding-bottom: 4pt"> </td>
<td style="border-bottom: Black 4pt double; text-align: left"> </td><td style="border-bottom: Black 4pt double; text-align: right">99,723</td><td style="padding-bottom: 4pt; text-align: left"> </td><td style="padding-bottom: 4pt"> </td>
<td style="border-bottom: Black 4pt double; text-align: left"> </td><td style="border-bottom: Black 4pt double; text-align: right">1,938,143</td><td style="padding-bottom: 4pt; text-align: left"> </td><td style="padding-bottom: 4pt"> </td>
<td style="vertical-align: top; padding-bottom: 4pt; text-align: center"> </td><td style="vertical-align: top; padding-bottom: 4pt; text-align: center"> </td><td style="padding-bottom: 4pt; text-align: left"> </td></tr>
</table><p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify"><b> </b></p>
March and April 2018 and August 2019
1.4
293042
293042
March and April 2023
February 2021
0.0125
52500
52500
March 2023
April 2019
2.1
463798
463798
April 2024
August 2020
2.57
171830
171830
August 2025
March 2021
6
956973
956973
March 2026
1938143
1938143
March and April 2018 and August 2019
1.4
242847
50195
293042
March and April 2023
February 2021
0.0125
52500
52500
March 2023
April 2019
2.1
414270
49528
463798
April 2024
August 2020
2.57
214050
-42220
171830
August 2025
March 2021
6
956973
956973
March 2026
871167
1009473
-42220
99723
1938143
<table cellpadding="0" cellspacing="0" style="font: 10pt Times New Roman, Times, Serif; border-collapse: collapse; width: 100%">
<tr style="vertical-align: bottom">
<td style="white-space: nowrap; border-bottom: Black 1.5pt solid; padding-left: 0.125in; text-indent: -0.125in; font-weight: bold">Warrant Issuance</td><td style="white-space: nowrap; font-weight: bold; padding-bottom: 1.5pt"> </td>
<td colspan="2" style="white-space: nowrap; border-bottom: Black 1.5pt solid; font-weight: bold; text-align: center">Warrant<br/>
liability,<br/>
December 31,<br/>
2020</td><td style="white-space: nowrap; text-align: center; padding-bottom: 1.5pt; font-weight: bold"> </td><td style="white-space: nowrap; text-align: center; font-weight: bold; padding-bottom: 1.5pt"> </td>
<td colspan="2" style="white-space: nowrap; border-bottom: Black 1.5pt solid; font-weight: bold; text-align: center">Fair<br/>
value of<br/>
warrants<br/>
granted</td><td style="white-space: nowrap; text-align: center; padding-bottom: 1.5pt; font-weight: bold"> </td><td style="white-space: nowrap; text-align: center; font-weight: bold; padding-bottom: 1.5pt"> </td>
<td colspan="2" style="white-space: nowrap; border-bottom: Black 1.5pt solid; font-weight: bold; text-align: center">Fair<br/>
value of<br/>
warrants<br/>
exercised</td><td style="white-space: nowrap; text-align: center; padding-bottom: 1.5pt; font-weight: bold"> </td><td style="white-space: nowrap; text-align: center; font-weight: bold; padding-bottom: 1.5pt"> </td>
<td colspan="2" style="white-space: nowrap; border-bottom: Black 1.5pt solid; font-weight: bold; text-align: center">Change in<br/>
fair value of<br/>
warrants</td><td style="white-space: nowrap; text-align: center; padding-bottom: 1.5pt; font-weight: bold"> </td><td style="white-space: nowrap; text-align: center; font-weight: bold; padding-bottom: 1.5pt"> </td>
<td colspan="2" style="white-space: nowrap; border-bottom: Black 1.5pt solid; font-weight: bold; text-align: center">Reclassified<br/>
to additional<br/>
paid-in<br/>
capital</td><td style="white-space: nowrap; text-align: center; padding-bottom: 1.5pt; font-weight: bold"> </td><td style="white-space: nowrap; text-align: center; font-weight: bold; padding-bottom: 1.5pt"> </td>
<td colspan="2" style="white-space: nowrap; border-bottom: Black 1.5pt solid; font-weight: bold; text-align: center">Warrant<br/>
liability,<br/>
June 30,<br/>
2021</td><td style="white-space: nowrap; padding-bottom: 1.5pt; font-weight: bold"> </td></tr>
<tr style="vertical-align: bottom; background-color: rgb(204,238,255)">
<td style="padding-left: 0.125in; text-indent: -0.125in; width: 28%; text-align: left">Preferred A Placement Warrants</td><td style="width: 1%"> </td>
<td style="width: 1%; text-align: left">$</td><td style="width: 9%; text-align: right"> 518</td><td style="width: 1%; text-align: left"> </td><td style="width: 1%"> </td>
<td style="width: 1%; text-align: left">$</td><td style="width: 9%; text-align: right"><div style="-sec-ix-hidden: hidden-fact-263">—</div></td><td style="width: 1%; text-align: left"> </td><td style="width: 1%"> </td>
<td style="width: 1%; text-align: left">$</td><td style="width: 9%; text-align: right"><div style="-sec-ix-hidden: hidden-fact-264">—</div></td><td style="width: 1%; text-align: left"> </td><td style="width: 1%"> </td>
<td style="width: 1%; text-align: left">$</td><td style="width: 9%; text-align: right">575</td><td style="width: 1%; text-align: left"> </td><td style="width: 1%"> </td>
<td style="width: 1%; text-align: left">$</td><td style="width: 9%; text-align: right">(1,093</td><td style="width: 1%; text-align: left">)</td><td style="width: 1%"> </td>
<td style="width: 1%; text-align: left">$</td><td style="width: 9%; text-align: right"><div style="-sec-ix-hidden: hidden-fact-265"> —</div></td><td style="width: 1%; text-align: left"> </td></tr>
<tr style="vertical-align: bottom; ">
<td style="padding-left: 0.125in; text-indent: -0.125in; text-align: left">Preferred B Placement Warrants</td><td> </td>
<td style="text-align: left"> </td><td style="text-align: right">708</td><td style="text-align: left"> </td><td> </td>
<td style="text-align: left"> </td><td style="text-align: right"><div style="-sec-ix-hidden: hidden-fact-266">—</div></td><td style="text-align: left"> </td><td> </td>
<td style="text-align: left"> </td><td style="text-align: right"><div style="-sec-ix-hidden: hidden-fact-267">—</div></td><td style="text-align: left"> </td><td> </td>
<td style="text-align: left"> </td><td style="text-align: right">800</td><td style="text-align: left"> </td><td> </td>
<td style="text-align: left"> </td><td style="text-align: right">(1,508</td><td style="text-align: left">)</td><td> </td>
<td style="text-align: left"> </td><td style="text-align: right"><div style="-sec-ix-hidden: hidden-fact-268">—</div></td><td style="text-align: left"> </td></tr>
<tr style="vertical-align: bottom; background-color: rgb(204,238,255)">
<td style="padding-left: 0.125in; text-indent: -0.125in; text-align: left; padding-bottom: 1.5pt">Convertible Notes Placement Warrants</td><td style="padding-bottom: 1.5pt"> </td>
<td style="border-bottom: Black 1.5pt solid; text-align: left"> </td><td style="border-bottom: Black 1.5pt solid; text-align: right">323</td><td style="padding-bottom: 1.5pt; text-align: left"> </td><td style="padding-bottom: 1.5pt"> </td>
<td style="border-bottom: Black 1.5pt solid; text-align: left"> </td><td style="border-bottom: Black 1.5pt solid; text-align: right"><div style="-sec-ix-hidden: hidden-fact-269"> -</div></td><td style="padding-bottom: 1.5pt; text-align: left"> </td><td style="padding-bottom: 1.5pt"> </td>
<td style="border-bottom: Black 1.5pt solid; text-align: left"> </td><td style="border-bottom: Black 1.5pt solid; text-align: right"><div style="-sec-ix-hidden: hidden-fact-270"> -</div></td><td style="padding-bottom: 1.5pt; text-align: left"> </td><td style="padding-bottom: 1.5pt"> </td>
<td style="border-bottom: Black 1.5pt solid; text-align: left"> </td><td style="border-bottom: Black 1.5pt solid; text-align: right">206</td><td style="padding-bottom: 1.5pt; text-align: left"> </td><td style="padding-bottom: 1.5pt"> </td>
<td style="border-bottom: Black 1.5pt solid; text-align: left"> </td><td style="border-bottom: Black 1.5pt solid; text-align: right">(529</td><td style="padding-bottom: 1.5pt; text-align: left">)</td><td style="padding-bottom: 1.5pt"> </td>
<td style="border-bottom: Black 1.5pt solid; text-align: left"> </td><td style="border-bottom: Black 1.5pt solid; text-align: right"><div style="-sec-ix-hidden: hidden-fact-271">—</div></td><td style="padding-bottom: 1.5pt; text-align: left"> </td></tr>
<tr style="vertical-align: bottom; ">
<td style="padding-left: 0.125in; text-indent: -0.125in; padding-bottom: 4pt"> </td><td style="padding-bottom: 4pt"> </td>
<td style="border-bottom: Black 4pt double; text-align: left">$</td><td style="border-bottom: Black 4pt double; text-align: right">1,549</td><td style="padding-bottom: 4pt; text-align: left"> </td><td style="padding-bottom: 4pt"> </td>
<td style="border-bottom: Black 4pt double; text-align: left">$</td><td style="border-bottom: Black 4pt double; text-align: right"><div style="-sec-ix-hidden: hidden-fact-272">—</div></td><td style="padding-bottom: 4pt; text-align: left"> </td><td style="padding-bottom: 4pt"> </td>
<td style="border-bottom: Black 4pt double; text-align: left">$</td><td style="border-bottom: Black 4pt double; text-align: right"><div style="-sec-ix-hidden: hidden-fact-273">—</div></td><td style="padding-bottom: 4pt; text-align: left"> </td><td style="padding-bottom: 4pt"> </td>
<td style="border-bottom: Black 4pt double; text-align: left">$</td><td style="border-bottom: Black 4pt double; text-align: right">1,581</td><td style="padding-bottom: 4pt; text-align: left"> </td><td style="padding-bottom: 4pt"> </td>
<td style="border-bottom: Black 4pt double; text-align: left">$</td><td style="border-bottom: Black 4pt double; text-align: right">(3,130</td><td style="padding-bottom: 4pt; text-align: left">)</td><td style="padding-bottom: 4pt"> </td>
<td style="border-bottom: Black 4pt double; text-align: left">$</td><td style="border-bottom: Black 4pt double; text-align: right"><div style="-sec-ix-hidden: hidden-fact-274">—</div></td><td style="padding-bottom: 4pt; text-align: left"> </td></tr>
</table><p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify"><b> </b></p>
518000
575000
1093000
708000
800000
1508000
323000
206000
529000
1549000
1581000
3130000
<table cellpadding="0" cellspacing="0" style="font: 10pt Times New Roman, Times, Serif; border-collapse: collapse; width: 100%">
<tr style="vertical-align: bottom">
<td> </td><td style="font-weight: bold; padding-bottom: 1.5pt"> </td>
<td colspan="14" style="border-bottom: Black 1.5pt solid; font-weight: bold; text-align: center">Black-Scholes Fair Value Assumptions
at IPO Date</td><td style="padding-bottom: 1.5pt; font-weight: bold"> </td></tr>
<tr style="vertical-align: bottom">
<td style="border-bottom: Black 1.5pt solid; font-weight: bold">Warrant Issuance</td><td style="font-weight: bold; padding-bottom: 1.5pt"> </td>
<td colspan="2" style="border-bottom: Black 1.5pt solid; font-weight: bold; text-align: center">Dividend<br/> Yield</td><td style="padding-bottom: 1.5pt; font-weight: bold"> </td><td style="font-weight: bold; padding-bottom: 1.5pt"> </td>
<td colspan="2" style="border-bottom: Black 1.5pt solid; font-weight: bold; text-align: center">Expected<br/> Volatility</td><td style="padding-bottom: 1.5pt; font-weight: bold"> </td><td style="font-weight: bold; padding-bottom: 1.5pt"> </td>
<td colspan="2" style="border-bottom: Black 1.5pt solid; font-weight: bold; text-align: center">Risk-Free<br/> Interest<br/> Rate</td><td style="padding-bottom: 1.5pt; font-weight: bold"> </td><td style="font-weight: bold; padding-bottom: 1.5pt"> </td>
<td colspan="2" style="border-bottom: Black 1.5pt solid; font-weight: bold; text-align: center">Expected<br/> Life</td><td style="padding-bottom: 1.5pt; font-weight: bold"> </td></tr>
<tr style="vertical-align: bottom; background-color: rgb(204,238,255)">
<td style="width: 52%; text-align: left">Preferred A Placement Warrants</td><td style="width: 1%"> </td>
<td style="width: 1%; text-align: left"> </td><td style="width: 9%; text-align: right"><div style="-sec-ix-hidden: hidden-fact-275">—</div></td><td style="width: 1%; text-align: left">%</td><td style="width: 1%"> </td>
<td style="width: 1%; text-align: left"> </td><td style="width: 9%; text-align: right">59.21</td><td style="width: 1%; text-align: left">%</td><td style="width: 1%"> </td>
<td style="width: 1%; text-align: left"> </td><td style="width: 9%; text-align: right">0.14</td><td style="width: 1%; text-align: left">%</td><td style="width: 1%"> </td>
<td style="width: 1%; text-align: left"> </td><td style="width: 9%; text-align: center"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">2.0 years</span></td><td style="width: 1%; text-align: left"> </td></tr>
<tr style="vertical-align: bottom; ">
<td style="text-align: left">Preferred B Placement Warrants</td><td> </td>
<td style="text-align: left"> </td><td style="text-align: right"><div style="-sec-ix-hidden: hidden-fact-276">—</div></td><td style="text-align: left">%</td><td> </td>
<td style="text-align: left"> </td><td style="text-align: right">58.51</td><td style="text-align: left">%</td><td> </td>
<td style="text-align: left"> </td><td style="text-align: right">0.30</td><td style="text-align: left">%</td><td> </td>
<td style="text-align: left"> </td><td style="text-align: center"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">3.0 years</span></td><td style="text-align: left"> </td></tr>
<tr style="vertical-align: bottom; background-color: rgb(204,238,255)">
<td style="text-align: left">Convertible Note Placement Warrants</td><td> </td>
<td style="text-align: left"> </td><td style="text-align: right"><div style="-sec-ix-hidden: hidden-fact-277">—</div></td><td style="text-align: left">%</td><td> </td>
<td style="text-align: left"> </td><td style="text-align: right">52.28</td><td style="text-align: left">%</td><td> </td>
<td style="text-align: left"> </td><td style="text-align: right">0.82</td><td style="text-align: left">%</td><td> </td>
<td style="text-align: left"> </td><td style="text-align: center"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">4.4 years</span></td><td style="text-align: left"> </td></tr>
</table><p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify"> </p>
0.5921
0.0014
P2Y
0.5851
0.003
P3Y
0.5228
0.0082
P4Y4M24D
3100000
<table cellpadding="0" cellspacing="0" style="font: 10pt Times New Roman, Times, Serif; border-collapse: collapse; width: 100%">
<tr style="vertical-align: bottom">
<td style="padding-bottom: 1.5pt; text-align: center"> </td><td style="padding-bottom: 1.5pt; font-weight: bold"> </td>
<td colspan="19" style="border-bottom: Black 1.5pt solid; font-weight: bold; text-align: center">Black-Scholes Fair Value Assumptions</td></tr>
<tr style="vertical-align: bottom">
<td style="border-bottom: Black 1.5pt solid; font-weight: bold; text-align: left">Warrant Issuance</td><td style="padding-bottom: 1.5pt; font-weight: bold"> </td>
<td style="border-bottom: Black 1.5pt solid; font-weight: bold; text-align: center">Issuance<br/>
Date</td><td style="text-align: center; padding-bottom: 1.5pt; font-weight: bold"> </td>
<td colspan="2" style="border-bottom: Black 1.5pt solid; font-weight: bold; text-align: center">Fair Value<br/>
(in ooo’s)</td><td style="text-align: center; padding-bottom: 1.5pt; font-weight: bold"> </td><td style="text-align: center; padding-bottom: 1.5pt; font-weight: bold"> </td>
<td colspan="2" style="border-bottom: Black 1.5pt solid; font-weight: bold; text-align: center">Dividend<br/>
Yield</td><td style="text-align: center; padding-bottom: 1.5pt; font-weight: bold"> </td><td style="text-align: center; padding-bottom: 1.5pt; font-weight: bold"> </td>
<td colspan="2" style="border-bottom: Black 1.5pt solid; font-weight: bold; text-align: center">Expected<br/>
Volatility</td><td style="text-align: center; padding-bottom: 1.5pt; font-weight: bold"> </td><td style="text-align: center; padding-bottom: 1.5pt; font-weight: bold"> </td>
<td colspan="2" style="border-bottom: Black 1.5pt solid; font-weight: bold; text-align: center">Risk-Free<br/>
Interest<br/>
Rate</td><td style="text-align: center; padding-bottom: 1.5pt; font-weight: bold"> </td><td style="text-align: center; padding-bottom: 1.5pt; font-weight: bold"> </td>
<td style="border-bottom: Black 1.5pt solid; font-weight: bold; text-align: center">Expected<br/>
Life</td></tr>
<tr style="vertical-align: bottom; background-color: rgb(204,238,255)">
<td style="width: 28%; text-align: left">Underwriter Warrants</td><td style="width: 1%"> </td>
<td style="text-align: center; width: 11%">March 2021</td><td style="width: 1%"> </td>
<td style="width: 1%; text-align: left">$</td><td style="width: 9%; text-align: right">2,349</td><td style="width: 1%; text-align: left"> </td><td style="width: 1%"> </td>
<td style="width: 1%; text-align: left"> </td><td style="width: 9%; text-align: right"><span style="-sec-ix-hidden: hidden-fact-278; font-family: Times New Roman, Times, Serif; font-size: 10pt">—</span></td><td style="width: 1%; text-align: left">%</td><td style="width: 1%"> </td>
<td style="width: 1%; text-align: left"> </td><td style="width: 9%; text-align: right">52.58</td><td style="width: 1%; text-align: left">%</td><td style="width: 1%"> </td>
<td style="width: 1%; text-align: left"> </td><td style="width: 9%; text-align: right">0.82</td><td style="width: 1%; text-align: left">%</td><td style="width: 1%"> </td>
<td style="text-align: center; width: 11%">5.0 years</td></tr>
</table>
March 2021
2349000
0.5258
0.0082
P5Y
<p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify"><span style="text-transform: uppercase"><b>Note
11 – Stock-based Compensation</b></span></p><p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify"> </p><p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify"><b>2019 Equity Incentive Plan</b></p><p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify"> </p><p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify">Effective as of November 18, 2019, the Company
adopted the 2019 Omnibus Incentive Plan (“2019 Plan”) administered by the Board. The 2019 Plan provides for
the issuance of incentive stock options, non-statutory stock options, and restricted stock awards, for the purchase of up to a total
of 4,000,000 shares of the Company’s common stock to employees, directors, and consultants and replaces the previous plan. The
Board or a committee of the Board has the authority to determine the amount, type, and terms of each award. The options granted under
the 2019 Plan generally have a contractual term of ten years and a vesting term of four years with a one-year cliff. The exercise
price for options granted under the 2019 Plan must generally be at least equal to 100% of the fair value of the Company’s
common stock at the date of grant, as determined by the Board. The incentive stock options granted under the 2019 Plan to 10% or
greater stockholders must have an exercise price at least equal to 110% of the fair value of the Company’s common stock at the
date of grant, as determined by the Board, and have a contractual term of ten years.</p><p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify"> </p><p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify">In connection with the closing of the IPO, effective
as of March 25, 2021 the 2019 Plan was amended and restated as a result of which the aggregate number of shares of common stock
that may be issued pursuant to the 2019 Plan was increased from 6,000,000 to 7,400,000.</p><p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify"> </p><p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify">On April 15, 2022, the Board approved, subject
to stockholder approval, an increase in the aggregate number of shares of common stock that may be issued pursuant to the 2019 Plan
from 7,400,000 to 13,400,000. On June 21, 2022, the stockholders approved this increase.</p><p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify"> </p><p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify">As of June 30, 2022, the Company had 5,561,447
shares available for future grant pursuant to the 2019 Plan.</p><p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify"> </p><p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify"><b>2021 Employment Inducement Plan</b></p><p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify"> </p><p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify">On September 15, 2021 the Company’s Board
adopted the Movano, Inc. 2021 Inducement Award Plan (the “Inducement Plan”) without stockholder approval pursuant
to Rule 5635(c)(4) of the Nasdaq Stock Market LLC listing rules (“Rule 5635(c)(4)”). In accordance with Rule 5635(c)(4),
awards under the Inducement Plan may only be made to a newly hired employee who has not previously been a member of the
Company’s Board, or an employee who is being rehired following a bona fide period of non-employment by the Company or a subsidiary,
as a material inducement to the employee’s entering into employment with the Company or its subsidiary. An aggregate of 2,000,000 shares
of the Company’s common stock have been reserved for issuance under the Inducement Plan.</p><p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify"> </p><p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify">The Company will continue to grant awards under
the 2019 Plan pursuant to the terms thereof.</p><p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify"> </p><p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify">During the six months ended June 30, 2022, awards
totaling 1,015,000 were issued under the Inducement Plan. The exercise price was $2.60 per share for 720,000 of the inducement stock
option awards and for $2.54 for 295,000 of the inducement stock option awards. All of the inducement stock option awards remain unvested
at June 30, 2022.</p><p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify"> </p><p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify">As of June 30, 2022, the Company had 1,230,000
shares available for future grant under the Inducement Plan.</p><p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify"> </p><p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify"><b>Stock Options</b></p><p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify"> </p><p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify">Stock option activity for the six months ended
June 30, 2022 was as follows (in thousands, except share, per share, and remaining life data):</p><p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify"> </p><table cellpadding="0" cellspacing="0" style="border-collapse: collapse; width: 100%; font: 10pt Times New Roman, Times, Serif">
<tr style="vertical-align: bottom">
<td style="text-align: center"> </td>
<td style="padding-bottom: 1.5pt"> </td>
<td colspan="2" style="border-bottom: black 1.5pt solid; text-align: center"><span style="font-size: 10pt"><b>Number of <br/>
Options</b></span></td>
<td style="padding-bottom: 1.5pt"> </td>
<td style="padding-bottom: 1.5pt"> </td>
<td colspan="2" style="border-bottom: black 1.5pt solid; text-align: center"><span style="font-size: 10pt"><b>Weighted <br/>
Average<br/>
Exercise <br/>
Price</b></span></td>
<td style="padding-bottom: 1.5pt"> </td>
<td style="padding-bottom: 1.5pt"> </td>
<td style="border-bottom: black 1.5pt solid; text-align: center"><span style="font-size: 10pt"><b>Weighted <br/>
Average <br/>
Remaining <br/>
Life</b></span></td>
<td style="padding-bottom: 1.5pt"> </td>
<td colspan="2" style="border-bottom: black 1.5pt solid; text-align: center"><span style="font-size: 10pt"><b>Intrinsic Value</b></span></td>
<td style="padding-bottom: 1.5pt"> </td></tr>
<tr style="vertical-align: bottom; background-color: #CCEEFF">
<td style="width: 54%"><span style="font-size: 10pt">Outstanding at December 31, 2021</span></td>
<td style="width: 1%"> </td>
<td style="width: 1%"> </td>
<td style="width: 9%; text-align: right"><span style="font-size: 10pt">5,592,137</span></td>
<td style="width: 1%"> </td>
<td style="width: 1%"> </td>
<td style="width: 1%"><span style="font-size: 10pt">$</span></td>
<td style="width: 9%; text-align: right"><span style="font-size: 10pt">2.29</span></td>
<td style="width: 1%"> </td>
<td style="width: 1%"> </td>
<td style="width: 9%; text-align: center"><span style="font-size: 10pt">8.6 years</span></td>
<td style="width: 1%"> </td>
<td style="width: 1%"><span style="font-size: 10pt">$</span></td>
<td style="width: 9%; text-align: right"><span style="font-size: 10pt">9,912</span></td>
<td style="width: 1%"> </td></tr>
<tr style="vertical-align: bottom; ">
<td style="padding-left: 9pt"><span style="font-size: 10pt">Granted</span></td>
<td> </td>
<td> </td>
<td style="text-align: right"><span style="font-size: 10pt">1,670,000</span></td>
<td> </td>
<td> </td>
<td><span style="font-size: 10pt">$</span></td>
<td style="text-align: right"><span style="font-size: 10pt">2.84</span></td>
<td> </td>
<td> </td>
<td style="text-align: right"> </td>
<td> </td>
<td> </td>
<td style="text-align: right"> </td>
<td> </td></tr>
<tr style="vertical-align: bottom; background-color: #CCEEFF">
<td style="padding-left: 9pt"><span style="font-size: 10pt">Exercised</span></td>
<td> </td>
<td> </td>
<td style="text-align: right"><span style="font-size: 10pt">(47,000</span></td>
<td><span style="font-size: 10pt">)</span></td>
<td> </td>
<td><span style="font-size: 10pt">$</span></td>
<td style="text-align: right"><span style="font-size: 10pt">0.41</span></td>
<td> </td>
<td> </td>
<td style="text-align: right"> </td>
<td> </td>
<td> </td>
<td style="text-align: right"> </td>
<td> </td></tr>
<tr style="vertical-align: bottom; ">
<td style="padding-bottom: 1.5pt; padding-left: 9pt"><span style="font-size: 10pt">Cancelled</span></td>
<td style="padding-bottom: 1.5pt"> </td>
<td style="border-bottom: black 1.5pt solid"> </td>
<td style="border-bottom: black 1.5pt solid; text-align: right"><span style="font-size: 10pt">(345,625</span></td>
<td style="padding-bottom: 1.5pt"><span style="font-size: 10pt">)</span></td>
<td style="padding-bottom: 1.5pt"> </td>
<td style="padding-bottom: 1.5pt"><span style="font-size: 10pt">$</span></td>
<td style="padding-bottom: 1.5pt; text-align: right"><span style="font-size: 10pt">3.37</span></td>
<td style="padding-bottom: 1.5pt"> </td>
<td style="padding-bottom: 1.5pt"> </td>
<td style="padding-bottom: 1.5pt; text-align: right"> </td>
<td style="padding-bottom: 1.5pt"> </td>
<td style="padding-bottom: 1.5pt"> </td>
<td style="padding-bottom: 1.5pt; text-align: right"> </td>
<td style="padding-bottom: 1.5pt"> </td></tr>
<tr style="vertical-align: bottom; background-color: #CCEEFF">
<td style="padding-bottom: 4pt"><span style="font-size: 10pt">Outstanding at June 30, 2022</span></td>
<td style="padding-bottom: 4pt"> </td>
<td style="border-bottom: black 4.5pt double"> </td>
<td style="border-bottom: black 4.5pt double; text-align: right"><span style="font-size: 10pt">6,869,512</span></td>
<td style="padding-bottom: 4pt"> </td>
<td style="padding-bottom: 4pt"> </td>
<td style="padding-bottom: 4pt"><span style="font-size: 10pt">$</span></td>
<td style="padding-bottom: 4pt; text-align: right"><span style="font-size: 10pt">2.38</span></td>
<td style="padding-bottom: 4pt"> </td>
<td style="padding-bottom: 4pt"> </td>
<td style="padding-bottom: 4pt; text-align: center"><span style="font-size: 10pt">8.5 years</span></td>
<td style="padding-bottom: 4pt"> </td>
<td style="padding-bottom: 4pt"><span style="font-size: 10pt">$</span></td>
<td style="padding-bottom: 4pt; text-align: right"><span style="font-size: 10pt">4,924</span></td>
<td style="padding-bottom: 4pt"> </td></tr>
<tr style="vertical-align: bottom; ">
<td> </td>
<td> </td>
<td> </td>
<td style="text-align: right"> </td>
<td> </td>
<td> </td>
<td> </td>
<td style="text-align: right"> </td>
<td> </td>
<td> </td>
<td style="text-align: right"> </td>
<td> </td>
<td> </td>
<td style="text-align: right"> </td>
<td> </td></tr>
<tr style="vertical-align: bottom; background-color: #CCEEFF">
<td> </td>
<td> </td>
<td> </td>
<td style="text-align: right"> </td>
<td> </td>
<td> </td>
<td> </td>
<td style="text-align: right"> </td>
<td> </td>
<td> </td>
<td style="text-align: right"> </td>
<td> </td>
<td> </td>
<td style="text-align: right"> </td>
<td> </td></tr>
<tr style="vertical-align: bottom; ">
<td style="padding-bottom: 4pt"><span style="font-size: 10pt">Exercisable as of June 30, 2022</span></td>
<td style="padding-bottom: 4pt"> </td>
<td style="border-bottom: black 4.5pt double"> </td>
<td style="border-bottom: black 4.5pt double; text-align: right"><span style="font-size: 10pt">3,362,341</span></td>
<td style="padding-bottom: 4pt"> </td>
<td style="padding-bottom: 4pt"> </td>
<td style="padding-bottom: 4pt"><span style="font-size: 10pt">$</span></td>
<td style="padding-bottom: 4pt; text-align: right"><span style="font-size: 10pt">1.57</span></td>
<td style="padding-bottom: 4pt"> </td>
<td style="padding-bottom: 4pt"> </td>
<td style="padding-bottom: 4pt; text-align: center"><span style="font-size: 10pt">8.1 years</span></td>
<td style="padding-bottom: 4pt"> </td>
<td style="padding-bottom: 4pt"><span style="font-size: 10pt">$</span></td>
<td style="padding-bottom: 4pt; text-align: right"><span style="font-size: 10pt">4,035</span></td>
<td style="padding-bottom: 4pt"> </td></tr>
<tr style="vertical-align: bottom; background-color: #CCEEFF">
<td> </td>
<td> </td>
<td> </td>
<td style="text-align: right"> </td>
<td> </td>
<td> </td>
<td> </td>
<td style="text-align: right"> </td>
<td> </td>
<td> </td>
<td style="text-align: right"> </td>
<td> </td>
<td> </td>
<td style="text-align: right"> </td>
<td> </td></tr>
<tr style="vertical-align: bottom; ">
<td style="padding-bottom: 4pt"><span style="font-size: 10pt">Vested and expected to vest as of June 30, 2022</span></td>
<td style="padding-bottom: 4pt"> </td>
<td style="border-bottom: black 4.5pt double"> </td>
<td style="border-bottom: black 4.5pt double; text-align: right"><span style="font-size: 10pt">6,719,312</span></td>
<td style="padding-bottom: 4pt"> </td>
<td style="padding-bottom: 4pt"> </td>
<td style="padding-bottom: 4pt"><span style="font-size: 10pt">$</span></td>
<td style="padding-bottom: 4pt; text-align: right"><span style="font-size: 10pt">2.36</span></td>
<td style="padding-bottom: 4pt"> </td>
<td style="padding-bottom: 4pt"> </td>
<td style="padding-bottom: 4pt; text-align: center"><span style="font-size: 10pt">8.5 years</span></td>
<td style="padding-bottom: 4pt"> </td>
<td style="padding-bottom: 4pt"><span style="font-size: 10pt">$</span></td>
<td style="padding-bottom: 4pt; text-align: right"><span style="font-size: 10pt">4,824</span></td>
<td style="padding-bottom: 4pt"> </td></tr>
</table><p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify"> </p><p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify">The weighted-average grant date fair value of
options granted during the six months ended June 30, 2022 and 2021, was $1.43 and $2.80, respectively. During the six months ended June
30, 2022 and 2021, 47,000 and 134,531 options were exercised for proceeds of $19,000 and $76,000, respectively. The fair value of the
1,006,430 and 402,939 options that vested during the six months ended June 30, 2022 and 2021 was approximately $2.0 million and $0.3 million,
respectively.</p><p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify"> </p><p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify">On June 21, 2022, the Company granted an award
of 100,000 options to the Company’s founder at an exercise price of $5.00 per share. The options will vest in full upon the shipment
of 20,000 product units on or before June 30, 2023. If the shipments have not occurred by June 30, 2023, the options will be cancelled
and forfeited. As of June 30, 2022, the Company has not recognized stock compensation expense related to this award as the successful
achievement of the performance conditions is not yet probable.</p><p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify"> </p><p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify">The Company estimated the fair value of stock
options using the Black-Scholes option pricing model. The fair value of the stock options was estimated using the following weighted
average assumptions for the six months ended June 30, 2022 and 2021.</p><p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify"> </p><table cellpadding="0" cellspacing="0" style="font: 10pt Times New Roman, Times, Serif; border-collapse: collapse; width: 100%">
<tr style="vertical-align: bottom">
<td style="text-align: center"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"> </span></td><td style="font-weight: bold; padding-bottom: 1.5pt"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"> </span></td>
<td colspan="6" style="border-bottom: Black 1.5pt solid; font-weight: bold; text-align: center"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">The
Six Months Ended <br/>
June 30,</span></td><td style="padding-bottom: 1.5pt; font-weight: bold"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"> </span></td></tr>
<tr style="vertical-align: bottom">
<td style="text-align: center"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"> </span></td><td style="font-weight: bold; padding-bottom: 1.5pt"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"> </span></td>
<td colspan="2" style="border-bottom: Black 1.5pt solid; font-weight: bold; text-align: center"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">2022</span></td><td style="padding-bottom: 1.5pt; font-weight: bold"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"> </span></td><td style="font-weight: bold; padding-bottom: 1.5pt"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"> </span></td>
<td colspan="2" style="border-bottom: Black 1.5pt solid; font-weight: bold; text-align: center"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">2021</span></td><td style="padding-bottom: 1.5pt; font-weight: bold"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"> </span></td></tr>
<tr style="vertical-align: bottom; background-color: rgb(204,238,255)">
<td style="width: 76%; text-align: left"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">Dividend yield</span></td><td style="width: 1%"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"> </span></td>
<td style="width: 1%; text-align: left"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"> </span></td><td style="width: 9%; text-align: right"><div style="-sec-ix-hidden: hidden-fact-279">—</div></td><td style="width: 1%; text-align: left">%</td><td style="width: 1%"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"> </span></td>
<td style="width: 1%; text-align: left"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"> </span></td><td style="width: 9%; text-align: right"><span style="-sec-ix-hidden: hidden-fact-280; font-family: Times New Roman, Times, Serif; font-size: 10pt">—</span></td><td style="width: 1%; text-align: left"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">%</span></td></tr>
<tr style="vertical-align: bottom; ">
<td style="text-align: left"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">Expected volatility</span></td><td><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"> </span></td>
<td style="text-align: left"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"> </span></td><td style="text-align: right"><p style="margin: 0pt 0; font: 10pt Times New Roman, Times, Serif"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">61.86</span></p></td><td style="text-align: left"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">%</span></td><td><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"> </span></td>
<td style="text-align: left"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"> </span></td><td style="text-align: right"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">67.61</span></td><td style="text-align: left"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">%</span></td></tr>
<tr style="vertical-align: bottom; background-color: rgb(204,238,255)">
<td style="text-align: left"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">Risk-free interest rate</span></td><td><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"> </span></td>
<td style="text-align: left"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"> </span></td><td style="text-align: right"><p style="margin: 0pt 0; font: 10pt Times New Roman, Times, Serif"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">2.38</span></p></td><td style="text-align: left"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">%</span></td><td><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"> </span></td>
<td style="text-align: left"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"> </span></td><td style="text-align: right"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">0.74</span></td><td style="text-align: left"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">%</span></td></tr>
<tr style="vertical-align: bottom; ">
<td style="text-align: left"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">Expected life</span></td><td><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"> </span></td>
<td style="text-align: left"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"> </span></td><td style="text-align: right"><p style="margin: 0pt 0; font: 10pt Times New Roman, Times, Serif"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">6.06 years</span></p></td><td style="text-align: left"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"> </span></td><td><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"> </span></td>
<td style="text-align: left"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"> </span></td><td style="text-align: right"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">6.05 years</span></td><td style="text-align: left"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"> </span></td></tr>
</table><p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify"> </p><p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify"><i>Dividend Rate</i>—The expected dividend
rate was assumed to be zero, as the Company had not previously paid dividends on common stock and has no current plans to do so.</p><p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify"> </p><p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify"><i>Expected Volatility</i>—The expected
volatility was derived from the historical stock volatilities of several public companies within the Company’s industry that the
Company considers to be comparable to the business over a period equivalent to the expected term of the stock option grants.</p><p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify"> </p><p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify"><i>Risk-Free Interest Rate</i>—The risk-free
interest rate is based on the interest yield in effect at the date of grant for zero coupon U.S. Treasury notes with maturities approximately
equal to the option’s expected term.</p><p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify"> </p><p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify"><i>Expected Term</i>—The expected term
represents the period that the Company’s stock options are expected to be outstanding. The expected term of option grants that
are considered to be “plain vanilla” are determined using the simplified method. The simplified method deems the term to
be the average of the time-to-vesting and the contractual life of the options. For other option grants not considered to be “plain
vanilla,” the Company determined the expected term to be the contractual life of the options.</p><p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify"> </p><p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify"><i>Forfeiture Rate</i>—The Company recognizes
forfeitures when they occur.</p><p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify"> </p><p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify">The Company has recorded stock-based compensation
expense for the three and six months ended June 30, 2022 and 2021 related to the issuance of stock option awards to employees and nonemployees
in the condensed consolidated statement of operations and comprehensive loss as follows (in thousands):</p><p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify"> </p><table cellpadding="0" cellspacing="0" style="font: 10pt Times New Roman, Times, Serif; border-collapse: collapse; width: 100%">
<tr style="vertical-align: bottom">
<td style="white-space: nowrap; text-align: center"> </td><td style="white-space: nowrap; text-align: center; font-weight: bold; padding-bottom: 1.5pt"> </td>
<td colspan="6" style="border-bottom: Black 1.5pt solid; white-space: nowrap; text-align: center; font-weight: bold">Three Months
Ended June 30,</td><td style="white-space: nowrap; text-align: center; padding-bottom: 1.5pt; font-weight: bold"> </td><td style="white-space: nowrap; text-align: center; font-weight: bold; padding-bottom: 1.5pt"> </td>
<td colspan="6" style="border-bottom: Black 1.5pt solid; white-space: nowrap; text-align: center; font-weight: bold">Six Months Ended
June 30,</td><td style="white-space: nowrap; text-align: center; padding-bottom: 1.5pt; font-weight: bold"> </td></tr>
<tr style="vertical-align: bottom">
<td> </td><td style="font-weight: bold; padding-bottom: 1.5pt"> </td>
<td colspan="2" style="border-bottom: Black 1.5pt solid; font-weight: bold; text-align: center">2022</td><td style="padding-bottom: 1.5pt; font-weight: bold"> </td><td style="font-weight: bold; padding-bottom: 1.5pt"> </td>
<td colspan="2" style="border-bottom: Black 1.5pt solid; font-weight: bold; text-align: center">2021</td><td style="padding-bottom: 1.5pt; font-weight: bold"> </td><td style="font-weight: bold; padding-bottom: 1.5pt"> </td>
<td colspan="2" style="border-bottom: Black 1.5pt solid; font-weight: bold; text-align: center">2022</td><td style="padding-bottom: 1.5pt; font-weight: bold"> </td><td style="font-weight: bold; padding-bottom: 1.5pt"> </td>
<td colspan="2" style="border-bottom: Black 1.5pt solid; font-weight: bold; text-align: center">2021</td><td style="padding-bottom: 1.5pt; font-weight: bold"> </td></tr>
<tr style="vertical-align: bottom; background-color: rgb(204,238,255)">
<td style="width: 52%; text-align: left">Research and development</td><td style="width: 1%"> </td>
<td style="width: 1%; text-align: left">$</td><td style="width: 9%; text-align: right">301</td><td style="width: 1%; text-align: left"> </td><td style="width: 1%"> </td>
<td style="width: 1%; text-align: left">$</td><td style="width: 9%; text-align: right">171</td><td style="width: 1%; text-align: left"> </td><td style="width: 1%"> </td>
<td style="width: 1%; text-align: left">$</td><td style="width: 9%; text-align: right">607</td><td style="width: 1%; text-align: left"> </td><td style="width: 1%"> </td>
<td style="width: 1%; text-align: left">$</td><td style="width: 9%; text-align: right">250</td><td style="width: 1%; text-align: left"> </td></tr>
<tr style="vertical-align: bottom; ">
<td style="text-align: left; padding-bottom: 1.5pt">General and administrative</td><td style="padding-bottom: 1.5pt"> </td>
<td style="border-bottom: Black 1.5pt solid; text-align: left"> </td><td style="border-bottom: Black 1.5pt solid; text-align: right">460</td><td style="padding-bottom: 1.5pt; text-align: left"> </td><td style="padding-bottom: 1.5pt"> </td>
<td style="border-bottom: Black 1.5pt solid; text-align: left"> </td><td style="border-bottom: Black 1.5pt solid; text-align: right">169</td><td style="padding-bottom: 1.5pt; text-align: left"> </td><td style="padding-bottom: 1.5pt"> </td>
<td style="border-bottom: Black 1.5pt solid; text-align: left"> </td><td style="border-bottom: Black 1.5pt solid; text-align: right">869</td><td style="padding-bottom: 1.5pt; text-align: left"> </td><td style="padding-bottom: 1.5pt"> </td>
<td style="border-bottom: Black 1.5pt solid; text-align: left"> </td><td style="border-bottom: Black 1.5pt solid; text-align: right">445</td><td style="padding-bottom: 1.5pt; text-align: left"> </td></tr>
<tr style="vertical-align: bottom; background-color: rgb(204,238,255)">
<td style="padding-bottom: 4pt"> </td><td style="padding-bottom: 4pt"> </td>
<td style="border-bottom: Black 4pt double; text-align: left">$</td><td style="border-bottom: Black 4pt double; text-align: right">761</td><td style="padding-bottom: 4pt; text-align: left"> </td><td style="padding-bottom: 4pt"> </td>
<td style="border-bottom: Black 4pt double; text-align: left">$</td><td style="border-bottom: Black 4pt double; text-align: right">340</td><td style="padding-bottom: 4pt; text-align: left"> </td><td style="padding-bottom: 4pt"> </td>
<td style="border-bottom: Black 4pt double; text-align: left">$</td><td style="border-bottom: Black 4pt double; text-align: right">1,476</td><td style="padding-bottom: 4pt; text-align: left"> </td><td style="padding-bottom: 4pt"> </td>
<td style="border-bottom: Black 4pt double; text-align: left">$</td><td style="border-bottom: Black 4pt double; text-align: right">695</td><td style="padding-bottom: 4pt; text-align: left"> </td></tr>
</table><p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify"> </p><p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify">As of June 30, 2022, unamortized compensation
expense related to unvested stock options was approximately $8.04 million, which is expected to be recognized over a weighted average
period of 2.7 years.</p>
4000000
1
0.10
1.10
P10Y
6000000
7400000
7400000
13400000
5561447
2000000
1015000
2.6
720000
2.54
295000
1230000
<table cellpadding="0" cellspacing="0" style="border-collapse: collapse; width: 100%; font: 10pt Times New Roman, Times, Serif">
<tr style="vertical-align: bottom">
<td style="text-align: center"> </td>
<td style="padding-bottom: 1.5pt"> </td>
<td colspan="2" style="border-bottom: black 1.5pt solid; text-align: center"><span style="font-size: 10pt"><b>Number of <br/>
Options</b></span></td>
<td style="padding-bottom: 1.5pt"> </td>
<td style="padding-bottom: 1.5pt"> </td>
<td colspan="2" style="border-bottom: black 1.5pt solid; text-align: center"><span style="font-size: 10pt"><b>Weighted <br/>
Average<br/>
Exercise <br/>
Price</b></span></td>
<td style="padding-bottom: 1.5pt"> </td>
<td style="padding-bottom: 1.5pt"> </td>
<td style="border-bottom: black 1.5pt solid; text-align: center"><span style="font-size: 10pt"><b>Weighted <br/>
Average <br/>
Remaining <br/>
Life</b></span></td>
<td style="padding-bottom: 1.5pt"> </td>
<td colspan="2" style="border-bottom: black 1.5pt solid; text-align: center"><span style="font-size: 10pt"><b>Intrinsic Value</b></span></td>
<td style="padding-bottom: 1.5pt"> </td></tr>
<tr style="vertical-align: bottom; background-color: #CCEEFF">
<td style="width: 54%"><span style="font-size: 10pt">Outstanding at December 31, 2021</span></td>
<td style="width: 1%"> </td>
<td style="width: 1%"> </td>
<td style="width: 9%; text-align: right"><span style="font-size: 10pt">5,592,137</span></td>
<td style="width: 1%"> </td>
<td style="width: 1%"> </td>
<td style="width: 1%"><span style="font-size: 10pt">$</span></td>
<td style="width: 9%; text-align: right"><span style="font-size: 10pt">2.29</span></td>
<td style="width: 1%"> </td>
<td style="width: 1%"> </td>
<td style="width: 9%; text-align: center"><span style="font-size: 10pt">8.6 years</span></td>
<td style="width: 1%"> </td>
<td style="width: 1%"><span style="font-size: 10pt">$</span></td>
<td style="width: 9%; text-align: right"><span style="font-size: 10pt">9,912</span></td>
<td style="width: 1%"> </td></tr>
<tr style="vertical-align: bottom; ">
<td style="padding-left: 9pt"><span style="font-size: 10pt">Granted</span></td>
<td> </td>
<td> </td>
<td style="text-align: right"><span style="font-size: 10pt">1,670,000</span></td>
<td> </td>
<td> </td>
<td><span style="font-size: 10pt">$</span></td>
<td style="text-align: right"><span style="font-size: 10pt">2.84</span></td>
<td> </td>
<td> </td>
<td style="text-align: right"> </td>
<td> </td>
<td> </td>
<td style="text-align: right"> </td>
<td> </td></tr>
<tr style="vertical-align: bottom; background-color: #CCEEFF">
<td style="padding-left: 9pt"><span style="font-size: 10pt">Exercised</span></td>
<td> </td>
<td> </td>
<td style="text-align: right"><span style="font-size: 10pt">(47,000</span></td>
<td><span style="font-size: 10pt">)</span></td>
<td> </td>
<td><span style="font-size: 10pt">$</span></td>
<td style="text-align: right"><span style="font-size: 10pt">0.41</span></td>
<td> </td>
<td> </td>
<td style="text-align: right"> </td>
<td> </td>
<td> </td>
<td style="text-align: right"> </td>
<td> </td></tr>
<tr style="vertical-align: bottom; ">
<td style="padding-bottom: 1.5pt; padding-left: 9pt"><span style="font-size: 10pt">Cancelled</span></td>
<td style="padding-bottom: 1.5pt"> </td>
<td style="border-bottom: black 1.5pt solid"> </td>
<td style="border-bottom: black 1.5pt solid; text-align: right"><span style="font-size: 10pt">(345,625</span></td>
<td style="padding-bottom: 1.5pt"><span style="font-size: 10pt">)</span></td>
<td style="padding-bottom: 1.5pt"> </td>
<td style="padding-bottom: 1.5pt"><span style="font-size: 10pt">$</span></td>
<td style="padding-bottom: 1.5pt; text-align: right"><span style="font-size: 10pt">3.37</span></td>
<td style="padding-bottom: 1.5pt"> </td>
<td style="padding-bottom: 1.5pt"> </td>
<td style="padding-bottom: 1.5pt; text-align: right"> </td>
<td style="padding-bottom: 1.5pt"> </td>
<td style="padding-bottom: 1.5pt"> </td>
<td style="padding-bottom: 1.5pt; text-align: right"> </td>
<td style="padding-bottom: 1.5pt"> </td></tr>
<tr style="vertical-align: bottom; background-color: #CCEEFF">
<td style="padding-bottom: 4pt"><span style="font-size: 10pt">Outstanding at June 30, 2022</span></td>
<td style="padding-bottom: 4pt"> </td>
<td style="border-bottom: black 4.5pt double"> </td>
<td style="border-bottom: black 4.5pt double; text-align: right"><span style="font-size: 10pt">6,869,512</span></td>
<td style="padding-bottom: 4pt"> </td>
<td style="padding-bottom: 4pt"> </td>
<td style="padding-bottom: 4pt"><span style="font-size: 10pt">$</span></td>
<td style="padding-bottom: 4pt; text-align: right"><span style="font-size: 10pt">2.38</span></td>
<td style="padding-bottom: 4pt"> </td>
<td style="padding-bottom: 4pt"> </td>
<td style="padding-bottom: 4pt; text-align: center"><span style="font-size: 10pt">8.5 years</span></td>
<td style="padding-bottom: 4pt"> </td>
<td style="padding-bottom: 4pt"><span style="font-size: 10pt">$</span></td>
<td style="padding-bottom: 4pt; text-align: right"><span style="font-size: 10pt">4,924</span></td>
<td style="padding-bottom: 4pt"> </td></tr>
<tr style="vertical-align: bottom; ">
<td> </td>
<td> </td>
<td> </td>
<td style="text-align: right"> </td>
<td> </td>
<td> </td>
<td> </td>
<td style="text-align: right"> </td>
<td> </td>
<td> </td>
<td style="text-align: right"> </td>
<td> </td>
<td> </td>
<td style="text-align: right"> </td>
<td> </td></tr>
<tr style="vertical-align: bottom; background-color: #CCEEFF">
<td> </td>
<td> </td>
<td> </td>
<td style="text-align: right"> </td>
<td> </td>
<td> </td>
<td> </td>
<td style="text-align: right"> </td>
<td> </td>
<td> </td>
<td style="text-align: right"> </td>
<td> </td>
<td> </td>
<td style="text-align: right"> </td>
<td> </td></tr>
<tr style="vertical-align: bottom; ">
<td style="padding-bottom: 4pt"><span style="font-size: 10pt">Exercisable as of June 30, 2022</span></td>
<td style="padding-bottom: 4pt"> </td>
<td style="border-bottom: black 4.5pt double"> </td>
<td style="border-bottom: black 4.5pt double; text-align: right"><span style="font-size: 10pt">3,362,341</span></td>
<td style="padding-bottom: 4pt"> </td>
<td style="padding-bottom: 4pt"> </td>
<td style="padding-bottom: 4pt"><span style="font-size: 10pt">$</span></td>
<td style="padding-bottom: 4pt; text-align: right"><span style="font-size: 10pt">1.57</span></td>
<td style="padding-bottom: 4pt"> </td>
<td style="padding-bottom: 4pt"> </td>
<td style="padding-bottom: 4pt; text-align: center"><span style="font-size: 10pt">8.1 years</span></td>
<td style="padding-bottom: 4pt"> </td>
<td style="padding-bottom: 4pt"><span style="font-size: 10pt">$</span></td>
<td style="padding-bottom: 4pt; text-align: right"><span style="font-size: 10pt">4,035</span></td>
<td style="padding-bottom: 4pt"> </td></tr>
<tr style="vertical-align: bottom; background-color: #CCEEFF">
<td> </td>
<td> </td>
<td> </td>
<td style="text-align: right"> </td>
<td> </td>
<td> </td>
<td> </td>
<td style="text-align: right"> </td>
<td> </td>
<td> </td>
<td style="text-align: right"> </td>
<td> </td>
<td> </td>
<td style="text-align: right"> </td>
<td> </td></tr>
<tr style="vertical-align: bottom; ">
<td style="padding-bottom: 4pt"><span style="font-size: 10pt">Vested and expected to vest as of June 30, 2022</span></td>
<td style="padding-bottom: 4pt"> </td>
<td style="border-bottom: black 4.5pt double"> </td>
<td style="border-bottom: black 4.5pt double; text-align: right"><span style="font-size: 10pt">6,719,312</span></td>
<td style="padding-bottom: 4pt"> </td>
<td style="padding-bottom: 4pt"> </td>
<td style="padding-bottom: 4pt"><span style="font-size: 10pt">$</span></td>
<td style="padding-bottom: 4pt; text-align: right"><span style="font-size: 10pt">2.36</span></td>
<td style="padding-bottom: 4pt"> </td>
<td style="padding-bottom: 4pt"> </td>
<td style="padding-bottom: 4pt; text-align: center"><span style="font-size: 10pt">8.5 years</span></td>
<td style="padding-bottom: 4pt"> </td>
<td style="padding-bottom: 4pt"><span style="font-size: 10pt">$</span></td>
<td style="padding-bottom: 4pt; text-align: right"><span style="font-size: 10pt">4,824</span></td>
<td style="padding-bottom: 4pt"> </td></tr>
</table><p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify"> </p>
5592137
2.29
P8Y7M6D
9912000
1670000
2.84
47000
0.41
345625
3.37
6869512
2.38
P8Y6M
4924000
3362341
1.57
P8Y1M6D
4035000
6719312
2.36
P8Y6M
4824000
1.43
2.8
47000
134531
19000
76000
1006430
402939
2000000
300000
100000
5
20000
<table cellpadding="0" cellspacing="0" style="font: 10pt Times New Roman, Times, Serif; border-collapse: collapse; width: 100%">
<tr style="vertical-align: bottom">
<td style="text-align: center"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"> </span></td><td style="font-weight: bold; padding-bottom: 1.5pt"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"> </span></td>
<td colspan="6" style="border-bottom: Black 1.5pt solid; font-weight: bold; text-align: center"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">The
Six Months Ended <br/>
June 30,</span></td><td style="padding-bottom: 1.5pt; font-weight: bold"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"> </span></td></tr>
<tr style="vertical-align: bottom">
<td style="text-align: center"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"> </span></td><td style="font-weight: bold; padding-bottom: 1.5pt"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"> </span></td>
<td colspan="2" style="border-bottom: Black 1.5pt solid; font-weight: bold; text-align: center"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">2022</span></td><td style="padding-bottom: 1.5pt; font-weight: bold"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"> </span></td><td style="font-weight: bold; padding-bottom: 1.5pt"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"> </span></td>
<td colspan="2" style="border-bottom: Black 1.5pt solid; font-weight: bold; text-align: center"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">2021</span></td><td style="padding-bottom: 1.5pt; font-weight: bold"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"> </span></td></tr>
<tr style="vertical-align: bottom; background-color: rgb(204,238,255)">
<td style="width: 76%; text-align: left"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">Dividend yield</span></td><td style="width: 1%"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"> </span></td>
<td style="width: 1%; text-align: left"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"> </span></td><td style="width: 9%; text-align: right"><div style="-sec-ix-hidden: hidden-fact-279">—</div></td><td style="width: 1%; text-align: left">%</td><td style="width: 1%"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"> </span></td>
<td style="width: 1%; text-align: left"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"> </span></td><td style="width: 9%; text-align: right"><span style="-sec-ix-hidden: hidden-fact-280; font-family: Times New Roman, Times, Serif; font-size: 10pt">—</span></td><td style="width: 1%; text-align: left"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">%</span></td></tr>
<tr style="vertical-align: bottom; ">
<td style="text-align: left"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">Expected volatility</span></td><td><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"> </span></td>
<td style="text-align: left"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"> </span></td><td style="text-align: right"><p style="margin: 0pt 0; font: 10pt Times New Roman, Times, Serif"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">61.86</span></p></td><td style="text-align: left"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">%</span></td><td><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"> </span></td>
<td style="text-align: left"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"> </span></td><td style="text-align: right"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">67.61</span></td><td style="text-align: left"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">%</span></td></tr>
<tr style="vertical-align: bottom; background-color: rgb(204,238,255)">
<td style="text-align: left"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">Risk-free interest rate</span></td><td><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"> </span></td>
<td style="text-align: left"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"> </span></td><td style="text-align: right"><p style="margin: 0pt 0; font: 10pt Times New Roman, Times, Serif"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">2.38</span></p></td><td style="text-align: left"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">%</span></td><td><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"> </span></td>
<td style="text-align: left"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"> </span></td><td style="text-align: right"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">0.74</span></td><td style="text-align: left"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">%</span></td></tr>
<tr style="vertical-align: bottom; ">
<td style="text-align: left"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">Expected life</span></td><td><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"> </span></td>
<td style="text-align: left"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"> </span></td><td style="text-align: right"><p style="margin: 0pt 0; font: 10pt Times New Roman, Times, Serif"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">6.06 years</span></p></td><td style="text-align: left"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"> </span></td><td><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"> </span></td>
<td style="text-align: left"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"> </span></td><td style="text-align: right"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">6.05 years</span></td><td style="text-align: left"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"> </span></td></tr>
</table><p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify"> </p>
0.6186
0.6761
0.0238
0.0074
P6Y21D
P6Y18D
<table cellpadding="0" cellspacing="0" style="font: 10pt Times New Roman, Times, Serif; border-collapse: collapse; width: 100%">
<tr style="vertical-align: bottom">
<td style="white-space: nowrap; text-align: center"> </td><td style="white-space: nowrap; text-align: center; font-weight: bold; padding-bottom: 1.5pt"> </td>
<td colspan="6" style="border-bottom: Black 1.5pt solid; white-space: nowrap; text-align: center; font-weight: bold">Three Months
Ended June 30,</td><td style="white-space: nowrap; text-align: center; padding-bottom: 1.5pt; font-weight: bold"> </td><td style="white-space: nowrap; text-align: center; font-weight: bold; padding-bottom: 1.5pt"> </td>
<td colspan="6" style="border-bottom: Black 1.5pt solid; white-space: nowrap; text-align: center; font-weight: bold">Six Months Ended
June 30,</td><td style="white-space: nowrap; text-align: center; padding-bottom: 1.5pt; font-weight: bold"> </td></tr>
<tr style="vertical-align: bottom">
<td> </td><td style="font-weight: bold; padding-bottom: 1.5pt"> </td>
<td colspan="2" style="border-bottom: Black 1.5pt solid; font-weight: bold; text-align: center">2022</td><td style="padding-bottom: 1.5pt; font-weight: bold"> </td><td style="font-weight: bold; padding-bottom: 1.5pt"> </td>
<td colspan="2" style="border-bottom: Black 1.5pt solid; font-weight: bold; text-align: center">2021</td><td style="padding-bottom: 1.5pt; font-weight: bold"> </td><td style="font-weight: bold; padding-bottom: 1.5pt"> </td>
<td colspan="2" style="border-bottom: Black 1.5pt solid; font-weight: bold; text-align: center">2022</td><td style="padding-bottom: 1.5pt; font-weight: bold"> </td><td style="font-weight: bold; padding-bottom: 1.5pt"> </td>
<td colspan="2" style="border-bottom: Black 1.5pt solid; font-weight: bold; text-align: center">2021</td><td style="padding-bottom: 1.5pt; font-weight: bold"> </td></tr>
<tr style="vertical-align: bottom; background-color: rgb(204,238,255)">
<td style="width: 52%; text-align: left">Research and development</td><td style="width: 1%"> </td>
<td style="width: 1%; text-align: left">$</td><td style="width: 9%; text-align: right">301</td><td style="width: 1%; text-align: left"> </td><td style="width: 1%"> </td>
<td style="width: 1%; text-align: left">$</td><td style="width: 9%; text-align: right">171</td><td style="width: 1%; text-align: left"> </td><td style="width: 1%"> </td>
<td style="width: 1%; text-align: left">$</td><td style="width: 9%; text-align: right">607</td><td style="width: 1%; text-align: left"> </td><td style="width: 1%"> </td>
<td style="width: 1%; text-align: left">$</td><td style="width: 9%; text-align: right">250</td><td style="width: 1%; text-align: left"> </td></tr>
<tr style="vertical-align: bottom; ">
<td style="text-align: left; padding-bottom: 1.5pt">General and administrative</td><td style="padding-bottom: 1.5pt"> </td>
<td style="border-bottom: Black 1.5pt solid; text-align: left"> </td><td style="border-bottom: Black 1.5pt solid; text-align: right">460</td><td style="padding-bottom: 1.5pt; text-align: left"> </td><td style="padding-bottom: 1.5pt"> </td>
<td style="border-bottom: Black 1.5pt solid; text-align: left"> </td><td style="border-bottom: Black 1.5pt solid; text-align: right">169</td><td style="padding-bottom: 1.5pt; text-align: left"> </td><td style="padding-bottom: 1.5pt"> </td>
<td style="border-bottom: Black 1.5pt solid; text-align: left"> </td><td style="border-bottom: Black 1.5pt solid; text-align: right">869</td><td style="padding-bottom: 1.5pt; text-align: left"> </td><td style="padding-bottom: 1.5pt"> </td>
<td style="border-bottom: Black 1.5pt solid; text-align: left"> </td><td style="border-bottom: Black 1.5pt solid; text-align: right">445</td><td style="padding-bottom: 1.5pt; text-align: left"> </td></tr>
<tr style="vertical-align: bottom; background-color: rgb(204,238,255)">
<td style="padding-bottom: 4pt"> </td><td style="padding-bottom: 4pt"> </td>
<td style="border-bottom: Black 4pt double; text-align: left">$</td><td style="border-bottom: Black 4pt double; text-align: right">761</td><td style="padding-bottom: 4pt; text-align: left"> </td><td style="padding-bottom: 4pt"> </td>
<td style="border-bottom: Black 4pt double; text-align: left">$</td><td style="border-bottom: Black 4pt double; text-align: right">340</td><td style="padding-bottom: 4pt; text-align: left"> </td><td style="padding-bottom: 4pt"> </td>
<td style="border-bottom: Black 4pt double; text-align: left">$</td><td style="border-bottom: Black 4pt double; text-align: right">1,476</td><td style="padding-bottom: 4pt; text-align: left"> </td><td style="padding-bottom: 4pt"> </td>
<td style="border-bottom: Black 4pt double; text-align: left">$</td><td style="border-bottom: Black 4pt double; text-align: right">695</td><td style="padding-bottom: 4pt; text-align: left"> </td></tr>
</table><p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify"> </p>
301000
171000
607000
250000
460000
169000
869000
445000
761000
340000
1476000
695000
8040000.00
P2Y8M12D
<p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify"><span style="text-transform: uppercase"><b>Note
12 – Commitments and Contingencies</b></span></p><p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify"> </p><p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify"><b>Operating Leases</b></p><p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify"> </p><p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify">As of June 30, 2022, the Company had one office
lease for the corporate headquarters and laboratory space.</p><p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify"> </p><p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify">On April 15, 2021, the Company executed
a lease agreement for corporate office space. The lease commenced on May 14, 2021 when the improvements were completed by the landlord
and the Company had access to the facility. The lease term is 40 months, and the base rent is approximately $14,000 per month for
the first twelve months, with subsequent escalation provisions for future months. The Company paid a security deposit of approximately
$47,000.</p><p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify"> </p><p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify">On April 22, 2022, the Company executed an
amendment to its corporate office lease agreement for additional corporate office space. The lease term for the additional space is 36 months
from the expansion commencement date of June 23, 2022. The base rent is approximately $5,100 per month for the first twelve months, with
subsequent escalation provisions for future months. The Company paid an additional security deposit of approximately $5,500.</p><p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify"> </p><p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify">On January 1, 2022, the Company adopted ASC
842. Under this new guidance, lessees are required to recognize assets and liabilities on the balance sheet for the rights and obligations
created by all leases. Upon adoption, the Company recognized ROU assets of $380,000 and corresponding lease liabilities of $429,000 for
the one operating lease of the Company at the adoption date.</p><p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify"> </p><p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify">The components of lease expense and supplemental
cash flow information related to leases as of and for the three and six months ended June 30, 2022 are as follows (in thousands):</p><p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify"> </p><table cellpadding="0" cellspacing="0" style="border-collapse: collapse; width: 100%; font: 10pt Times New Roman, Times, Serif">
<tr style="vertical-align: bottom">
<td style="padding-bottom: 1.5pt">Operating leases</td><td style="font-weight: bold; padding-bottom: 1.5pt"> </td>
<td colspan="2" style="font-weight: bold; text-align: center; border-bottom: Black 1.5pt solid">As of June 30,<br/> 2022</td><td style="padding-bottom: 1.5pt; font-weight: bold"> </td></tr>
<tr style="vertical-align: bottom; background-color: rgb(204,238,255)">
<td style="width: 88%; text-align: left">Right-of-use assets</td><td style="width: 1%"> </td>
<td style="width: 1%; text-align: left">$</td><td style="width: 9%; text-align: right">477</td><td style="width: 1%; text-align: left"> </td></tr>
<tr style="vertical-align: bottom; ">
<td style="text-align: left">Operating lease liabilities - short-term</td><td> </td>
<td style="text-align: left">$</td><td style="text-align: right">218</td><td style="text-align: left"> </td></tr>
<tr style="vertical-align: bottom; background-color: rgb(204,238,255)">
<td style="text-align: left">Operating lease liabilities - long-term</td><td> </td>
<td style="text-align: left">$</td><td style="text-align: right">302</td><td style="text-align: left"> </td></tr>
</table><p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify"> </p><table cellpadding="0" cellspacing="0" style="font: 10pt Times New Roman, Times, Serif; border-collapse: collapse; width: 100%">
<tr style="vertical-align: bottom">
<td style="white-space: nowrap"> </td>
<td style="white-space: nowrap"> </td>
<td colspan="2" style="white-space: nowrap; text-align: center"><span style="font-size: 10pt"><b>Three Months Ended</b></span></td>
<td style="white-space: nowrap"> </td>
<td style="white-space: nowrap"> </td>
<td colspan="2" style="white-space: nowrap; text-align: center"><span style="font-size: 10pt"><b>Six Months Ended</b></span></td>
<td style="white-space: nowrap"> </td></tr>
<tr style="vertical-align: bottom">
<td style="padding-bottom: 1.5pt"> </td>
<td style="padding-bottom: 1.5pt"> </td>
<td colspan="2" style="border-bottom: Black 1.5pt solid; text-align: center"><span style="font-size: 10pt"><b>June 30,<br/>
2022</b></span></td>
<td style="padding-bottom: 1.5pt"> </td>
<td style="padding-bottom: 1.5pt"> </td>
<td colspan="2" style="border-bottom: Black 1.5pt solid; text-align: center"><span style="font-size: 10pt"><b>June 30,<br/>
2022</b></span></td>
<td style="padding-bottom: 1.5pt"> </td></tr>
<tr style="vertical-align: bottom">
<td> </td>
<td> </td>
<td colspan="2"> </td>
<td> </td>
<td> </td>
<td colspan="2"> </td>
<td> </td></tr>
<tr style="vertical-align: bottom">
<td><span style="font-size: 10pt"><b>Lease Cost:</b></span></td>
<td> </td>
<td colspan="2"> </td>
<td> </td>
<td> </td>
<td colspan="2"> </td>
<td> </td></tr>
<tr style="vertical-align: bottom; background-color: #CCEEFF">
<td style="padding-left: 9pt"><span style="font-size: 10pt">Operating lease cost</span></td>
<td> </td>
<td><span style="font-size: 10pt">$</span></td>
<td style="text-align: right"><span style="font-size: 10pt">48</span></td>
<td> </td>
<td> </td>
<td><span style="font-size: 10pt">$</span></td>
<td style="text-align: right"><span style="font-size: 10pt">93</span></td>
<td> </td></tr>
<tr style="vertical-align: bottom; ">
<td> </td>
<td> </td>
<td> </td>
<td style="text-align: right"> </td>
<td> </td>
<td> </td>
<td> </td>
<td style="text-align: right"> </td>
<td> </td></tr>
<tr style="vertical-align: bottom; background-color: #CCEEFF">
<td><span style="font-size: 10pt"><b>Other Information:</b></span></td>
<td> </td>
<td> </td>
<td style="text-align: right"> </td>
<td> </td>
<td> </td>
<td> </td>
<td style="text-align: right"> </td>
<td> </td></tr>
<tr style="vertical-align: bottom; ">
<td style="width: 76%; padding-left: 0.25in; text-indent: -9pt"><span style="font-size: 10pt">Cash paid for amounts included in the measurement of lease liabilities</span></td>
<td style="width: 1%"> </td>
<td style="width: 1%"><span style="font-size: 10pt">$</span></td>
<td style="width: 9%; text-align: right"><span style="font-size: 10pt">48</span></td>
<td style="width: 1%"> </td>
<td style="width: 1%"> </td>
<td style="width: 1%"><span style="font-size: 10pt">$</span></td>
<td style="width: 9%; text-align: right"><span style="font-size: 10pt">90</span></td>
<td style="width: 1%"> </td></tr>
<tr style="vertical-align: bottom; background-color: #CCEEFF">
<td style="padding-left: 9pt"><span style="font-size: 10pt">Weighted average remaining lease term - operating leases (in years)</span></td>
<td> </td>
<td> </td>
<td style="text-align: right"><span style="font-size: 10pt">2.5</span></td>
<td> </td>
<td> </td>
<td> </td>
<td style="text-align: right"><span style="font-size: 10pt">2.5</span></td>
<td> </td></tr>
<tr style="vertical-align: bottom; ">
<td style="padding-left: 9pt"><span style="font-size: 10pt">Average discount rate - operating lease</span></td>
<td> </td>
<td> </td>
<td style="text-align: right"><span style="font-size: 10pt">10.00</span></td>
<td><span style="font-size: 10pt">%</span></td>
<td> </td>
<td> </td>
<td style="text-align: right"><span style="font-size: 10pt">10.00</span></td>
<td><span style="font-size: 10pt">%</span></td></tr>
</table><p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify"> </p><p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify"><span style="font-family: Times New Roman, Times, Serif">Future
minimum lease payments for the operating lease are as follows as</span> <span style="font-family: Times New Roman, Times, Serif">of
June 30, 2022 (in thousands):</span></p><p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify"><span style="font-family: Times New Roman, Times, Serif"> </span></p><table cellpadding="0" cellspacing="0" style="border-collapse: collapse; width: 100%; font: 10pt Times New Roman, Times, Serif">
<tr style="vertical-align: bottom">
<td style="text-align: left; font-weight: bold; border-bottom: Black 1.5pt solid">For the years ending December 31,</td><td style="font-weight: bold; padding-bottom: 1.5pt"> </td>
<td colspan="2" style="padding-bottom: 1.5pt; font-weight: bold; text-align: center"/><td style="padding-bottom: 1.5pt; font-weight: bold"> </td></tr>
<tr style="vertical-align: bottom">
<td style="text-align: left"> </td><td> </td>
<td colspan="2"> </td><td> </td></tr>
<tr style="vertical-align: bottom; background-color: rgb(204,238,255)">
<td style="width: 88%; text-align: left">2022</td><td style="width: 1%"> </td>
<td style="width: 1%; text-align: left">$</td><td style="width: 9%; text-align: right">118</td><td style="width: 1%; text-align: left"> </td></tr>
<tr style="vertical-align: bottom; ">
<td style="text-align: left">2023</td><td> </td>
<td style="text-align: left"> </td><td style="text-align: right">242</td><td style="text-align: left"> </td></tr>
<tr style="vertical-align: bottom; background-color: rgb(204,238,255)">
<td style="text-align: left">2024</td><td> </td>
<td style="text-align: left"> </td><td style="text-align: right">203</td><td style="text-align: left"> </td></tr>
<tr style="vertical-align: bottom; ">
<td style="text-align: left; padding-bottom: 1.5pt">2025</td><td style="padding-bottom: 1.5pt"> </td>
<td style="border-bottom: Black 1.5pt solid; text-align: left"> </td><td style="border-bottom: Black 1.5pt solid; text-align: right">27</td><td style="border-bottom: Black 1.5pt solid; text-align: left"> </td></tr>
<tr style="vertical-align: bottom; background-color: rgb(204,238,255)">
<td style="text-align: left">Total lease payments</td><td> </td>
<td style="text-align: left"> </td><td style="text-align: right">590</td><td style="text-align: left"> </td></tr>
<tr style="vertical-align: bottom; ">
<td style="text-align: left; padding-bottom: 1.5pt">Less: Interest</td><td style="padding-bottom: 1.5pt"> </td>
<td style="border-bottom: Black 1.5pt solid; text-align: left"> </td><td style="border-bottom: Black 1.5pt solid; text-align: right">(70</td><td style="border-bottom: Black 1.5pt solid; text-align: left">)</td></tr>
<tr style="vertical-align: bottom; background-color: rgb(204,238,255)">
<td style="text-align: left; padding-bottom: 4pt">Total operating lease liability</td><td style="padding-bottom: 4pt"> </td>
<td style="border-bottom: Black 4pt double; text-align: left">$</td><td style="border-bottom: Black 4pt double; text-align: right">520</td><td style="border-bottom: Black 4pt double; text-align: left"> </td></tr>
</table><p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify"><span style="font-family: Times New Roman, Times, Serif"> </span></p><p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify">Rent expense for the three and
six months ended June 30 2021 was $34,000 and $48,000, respectively.</p><p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify"> </p><p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify"><b>Litigation</b></p><p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify"> </p><p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify">From time to time, the Company may become involved
in various litigation and administrative proceedings relating to claims arising from its operations in the normal course of business.
Management is not currently aware of any matters that may have a material adverse impact on the Company’s business, financial position,
results of operations or cash flows.</p><p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify"> </p><p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify"><b>Indemnification</b></p><p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify"> </p><p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify">The Company enters into standard indemnification
agreements in the ordinary course of business. Pursuant to these arrangements, the Company indemnifies, holds harmless and agrees to
reimburse the indemnified parties for losses suffered or incurred by the indemnified party, in connection with any trade secret, copyright,
patent or other intellectual property infringement claim by any third party with respect to its technology. The term of these indemnification
agreements is generally perpetual after the execution of the agreement. The maximum potential amount of future payments the Company could
be required to make under these agreements is not determinable because it involves claims that may be made against the Company in the
future, but have not yet been made. The Company has not incurred costs to defend lawsuits or settle claims related to these indemnification
agreements.</p><p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify"> </p><p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify">The Company has entered into indemnification
agreements with its directors and officers that may require the Company to indemnify its directors and officers against liabilities that
may arise by reason of their status or service as directors or officers, other than liabilities arising from willful misconduct of the
individual.</p><p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify"> </p><p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify">No amounts associated with such indemnifications
have been recorded as of June 30, 2022.</p>
P40M
14000
47000
5100
5500
380000
429000
<table cellpadding="0" cellspacing="0" style="border-collapse: collapse; width: 100%; font: 10pt Times New Roman, Times, Serif">
<tr style="vertical-align: bottom">
<td style="padding-bottom: 1.5pt">Operating leases</td><td style="font-weight: bold; padding-bottom: 1.5pt"> </td>
<td colspan="2" style="font-weight: bold; text-align: center; border-bottom: Black 1.5pt solid">As of June 30,<br/> 2022</td><td style="padding-bottom: 1.5pt; font-weight: bold"> </td></tr>
<tr style="vertical-align: bottom; background-color: rgb(204,238,255)">
<td style="width: 88%; text-align: left">Right-of-use assets</td><td style="width: 1%"> </td>
<td style="width: 1%; text-align: left">$</td><td style="width: 9%; text-align: right">477</td><td style="width: 1%; text-align: left"> </td></tr>
<tr style="vertical-align: bottom; ">
<td style="text-align: left">Operating lease liabilities - short-term</td><td> </td>
<td style="text-align: left">$</td><td style="text-align: right">218</td><td style="text-align: left"> </td></tr>
<tr style="vertical-align: bottom; background-color: rgb(204,238,255)">
<td style="text-align: left">Operating lease liabilities - long-term</td><td> </td>
<td style="text-align: left">$</td><td style="text-align: right">302</td><td style="text-align: left"> </td></tr>
</table><p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify"> </p><table cellpadding="0" cellspacing="0" style="font: 10pt Times New Roman, Times, Serif; border-collapse: collapse; width: 100%">
<tr style="vertical-align: bottom">
<td style="white-space: nowrap"> </td>
<td style="white-space: nowrap"> </td>
<td colspan="2" style="white-space: nowrap; text-align: center"><span style="font-size: 10pt"><b>Three Months Ended</b></span></td>
<td style="white-space: nowrap"> </td>
<td style="white-space: nowrap"> </td>
<td colspan="2" style="white-space: nowrap; text-align: center"><span style="font-size: 10pt"><b>Six Months Ended</b></span></td>
<td style="white-space: nowrap"> </td></tr>
<tr style="vertical-align: bottom">
<td style="padding-bottom: 1.5pt"> </td>
<td style="padding-bottom: 1.5pt"> </td>
<td colspan="2" style="border-bottom: Black 1.5pt solid; text-align: center"><span style="font-size: 10pt"><b>June 30,<br/>
2022</b></span></td>
<td style="padding-bottom: 1.5pt"> </td>
<td style="padding-bottom: 1.5pt"> </td>
<td colspan="2" style="border-bottom: Black 1.5pt solid; text-align: center"><span style="font-size: 10pt"><b>June 30,<br/>
2022</b></span></td>
<td style="padding-bottom: 1.5pt"> </td></tr>
<tr style="vertical-align: bottom">
<td> </td>
<td> </td>
<td colspan="2"> </td>
<td> </td>
<td> </td>
<td colspan="2"> </td>
<td> </td></tr>
<tr style="vertical-align: bottom">
<td><span style="font-size: 10pt"><b>Lease Cost:</b></span></td>
<td> </td>
<td colspan="2"> </td>
<td> </td>
<td> </td>
<td colspan="2"> </td>
<td> </td></tr>
<tr style="vertical-align: bottom; background-color: #CCEEFF">
<td style="padding-left: 9pt"><span style="font-size: 10pt">Operating lease cost</span></td>
<td> </td>
<td><span style="font-size: 10pt">$</span></td>
<td style="text-align: right"><span style="font-size: 10pt">48</span></td>
<td> </td>
<td> </td>
<td><span style="font-size: 10pt">$</span></td>
<td style="text-align: right"><span style="font-size: 10pt">93</span></td>
<td> </td></tr>
<tr style="vertical-align: bottom; ">
<td> </td>
<td> </td>
<td> </td>
<td style="text-align: right"> </td>
<td> </td>
<td> </td>
<td> </td>
<td style="text-align: right"> </td>
<td> </td></tr>
<tr style="vertical-align: bottom; background-color: #CCEEFF">
<td><span style="font-size: 10pt"><b>Other Information:</b></span></td>
<td> </td>
<td> </td>
<td style="text-align: right"> </td>
<td> </td>
<td> </td>
<td> </td>
<td style="text-align: right"> </td>
<td> </td></tr>
<tr style="vertical-align: bottom; ">
<td style="width: 76%; padding-left: 0.25in; text-indent: -9pt"><span style="font-size: 10pt">Cash paid for amounts included in the measurement of lease liabilities</span></td>
<td style="width: 1%"> </td>
<td style="width: 1%"><span style="font-size: 10pt">$</span></td>
<td style="width: 9%; text-align: right"><span style="font-size: 10pt">48</span></td>
<td style="width: 1%"> </td>
<td style="width: 1%"> </td>
<td style="width: 1%"><span style="font-size: 10pt">$</span></td>
<td style="width: 9%; text-align: right"><span style="font-size: 10pt">90</span></td>
<td style="width: 1%"> </td></tr>
<tr style="vertical-align: bottom; background-color: #CCEEFF">
<td style="padding-left: 9pt"><span style="font-size: 10pt">Weighted average remaining lease term - operating leases (in years)</span></td>
<td> </td>
<td> </td>
<td style="text-align: right"><span style="font-size: 10pt">2.5</span></td>
<td> </td>
<td> </td>
<td> </td>
<td style="text-align: right"><span style="font-size: 10pt">2.5</span></td>
<td> </td></tr>
<tr style="vertical-align: bottom; ">
<td style="padding-left: 9pt"><span style="font-size: 10pt">Average discount rate - operating lease</span></td>
<td> </td>
<td> </td>
<td style="text-align: right"><span style="font-size: 10pt">10.00</span></td>
<td><span style="font-size: 10pt">%</span></td>
<td> </td>
<td> </td>
<td style="text-align: right"><span style="font-size: 10pt">10.00</span></td>
<td><span style="font-size: 10pt">%</span></td></tr>
</table><p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify"> </p>
477000
218000
302000
48000
93000
48000
90000
P2Y6M
P2Y6M
0.10
0.10
<table cellpadding="0" cellspacing="0" style="border-collapse: collapse; width: 100%; font: 10pt Times New Roman, Times, Serif">
<tr style="vertical-align: bottom">
<td style="text-align: left; font-weight: bold; border-bottom: Black 1.5pt solid">For the years ending December 31,</td><td style="font-weight: bold; padding-bottom: 1.5pt"> </td>
<td colspan="2" style="padding-bottom: 1.5pt; font-weight: bold; text-align: center"/><td style="padding-bottom: 1.5pt; font-weight: bold"> </td></tr>
<tr style="vertical-align: bottom">
<td style="text-align: left"> </td><td> </td>
<td colspan="2"> </td><td> </td></tr>
<tr style="vertical-align: bottom; background-color: rgb(204,238,255)">
<td style="width: 88%; text-align: left">2022</td><td style="width: 1%"> </td>
<td style="width: 1%; text-align: left">$</td><td style="width: 9%; text-align: right">118</td><td style="width: 1%; text-align: left"> </td></tr>
<tr style="vertical-align: bottom; ">
<td style="text-align: left">2023</td><td> </td>
<td style="text-align: left"> </td><td style="text-align: right">242</td><td style="text-align: left"> </td></tr>
<tr style="vertical-align: bottom; background-color: rgb(204,238,255)">
<td style="text-align: left">2024</td><td> </td>
<td style="text-align: left"> </td><td style="text-align: right">203</td><td style="text-align: left"> </td></tr>
<tr style="vertical-align: bottom; ">
<td style="text-align: left; padding-bottom: 1.5pt">2025</td><td style="padding-bottom: 1.5pt"> </td>
<td style="border-bottom: Black 1.5pt solid; text-align: left"> </td><td style="border-bottom: Black 1.5pt solid; text-align: right">27</td><td style="border-bottom: Black 1.5pt solid; text-align: left"> </td></tr>
<tr style="vertical-align: bottom; background-color: rgb(204,238,255)">
<td style="text-align: left">Total lease payments</td><td> </td>
<td style="text-align: left"> </td><td style="text-align: right">590</td><td style="text-align: left"> </td></tr>
<tr style="vertical-align: bottom; ">
<td style="text-align: left; padding-bottom: 1.5pt">Less: Interest</td><td style="padding-bottom: 1.5pt"> </td>
<td style="border-bottom: Black 1.5pt solid; text-align: left"> </td><td style="border-bottom: Black 1.5pt solid; text-align: right">(70</td><td style="border-bottom: Black 1.5pt solid; text-align: left">)</td></tr>
<tr style="vertical-align: bottom; background-color: rgb(204,238,255)">
<td style="text-align: left; padding-bottom: 4pt">Total operating lease liability</td><td style="padding-bottom: 4pt"> </td>
<td style="border-bottom: Black 4pt double; text-align: left">$</td><td style="border-bottom: Black 4pt double; text-align: right">520</td><td style="border-bottom: Black 4pt double; text-align: left"> </td></tr>
</table><p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify"><span style="font-family: Times New Roman, Times, Serif"> </span></p>
118000
242000
203000
27000
590000
70000
520000
34000
48000
<p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify"><span style="text-transform: uppercase"><b>Note
13 – NET LOSS PER SHARE ATTRIBUTABLE TO COMMON STOCKHOLDERS</b></span></p><p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify"> </p><p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify">The following table computes the computation
of the basic and diluted net loss per share attributable to common stockholders during the three and six months ended June 30, 2022 and
2021 is as follows (in thousands, except share and per share data):</p><p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify"> </p><table cellpadding="0" cellspacing="0" style="border-collapse: collapse; width: 100%; font: 10pt Times New Roman, Times, Serif">
<tr style="vertical-align: bottom">
<td style="text-align: center"> </td><td style="font-weight: bold; padding-bottom: 1.5pt"> </td>
<td colspan="6" style="font-weight: bold; text-align: center; border-bottom: Black 1.5pt solid">Three Months Ended <br/> June 30,</td><td style="padding-bottom: 1.5pt; font-weight: bold"> </td><td style="font-weight: bold; padding-bottom: 1.5pt"> </td>
<td colspan="6" style="font-weight: bold; text-align: center; border-bottom: Black 1.5pt solid">Six Months Ended <br/> June 30,</td><td style="padding-bottom: 1.5pt; font-weight: bold"> </td></tr>
<tr style="vertical-align: bottom">
<td> </td><td style="font-weight: bold; padding-bottom: 1.5pt"> </td>
<td colspan="2" style="font-weight: bold; text-align: center; border-bottom: Black 1.5pt solid">2022</td><td style="padding-bottom: 1.5pt; font-weight: bold"> </td><td style="font-weight: bold; padding-bottom: 1.5pt"> </td>
<td colspan="2" style="font-weight: bold; text-align: center; border-bottom: Black 1.5pt solid">2021</td><td style="padding-bottom: 1.5pt; font-weight: bold"> </td><td style="font-weight: bold; padding-bottom: 1.5pt"> </td>
<td colspan="2" style="font-weight: bold; text-align: center; border-bottom: Black 1.5pt solid">2022</td><td style="padding-bottom: 1.5pt; font-weight: bold"> </td><td style="font-weight: bold; padding-bottom: 1.5pt"> </td>
<td colspan="2" style="font-weight: bold; text-align: center; border-bottom: Black 1.5pt solid">2021</td><td style="padding-bottom: 1.5pt; font-weight: bold"> </td></tr>
<tr style="vertical-align: bottom">
<td>Numerator:</td><td> </td>
<td colspan="2"> </td><td> </td><td> </td>
<td colspan="2"> </td><td> </td><td> </td>
<td colspan="2"> </td><td> </td><td> </td>
<td colspan="2"> </td><td> </td></tr>
<tr style="vertical-align: bottom; background-color: rgb(204,238,255)">
<td style="width: 52%; text-align: left; padding-left: 0.125in">Net loss and comprehensive loss</td><td style="width: 1%"> </td>
<td style="width: 1%; text-align: left">$</td><td style="width: 9%; text-align: right">(6,868</td><td style="width: 1%; text-align: left">)</td><td style="width: 1%"> </td>
<td style="width: 1%; text-align: left">$</td><td style="width: 9%; text-align: right">(4,687</td><td style="width: 1%; text-align: left">)</td><td style="width: 1%"> </td>
<td style="width: 1%; text-align: left">$</td><td style="width: 9%; text-align: right">(13,800</td><td style="width: 1%; text-align: left">)</td><td style="width: 1%"> </td>
<td style="width: 1%; text-align: left">$</td><td style="width: 9%; text-align: right">(10,295</td><td style="width: 1%; text-align: left">)</td></tr>
<tr style="vertical-align: bottom; ">
<td style="text-align: left; padding-bottom: 1.5pt; text-indent: -0.125in; padding-left: 0.25in">Accretion and dividends on redeemable convertible preferred stock</td><td style="padding-bottom: 1.5pt"> </td>
<td style="border-bottom: Black 1.5pt solid; text-align: left"> </td><td style="border-bottom: Black 1.5pt solid; text-align: right"><div style="-sec-ix-hidden: hidden-fact-281">—</div></td><td style="padding-bottom: 1.5pt; text-align: left"> </td><td style="padding-bottom: 1.5pt"> </td>
<td style="border-bottom: Black 1.5pt solid; text-align: left"> </td><td style="border-bottom: Black 1.5pt solid; text-align: right"><div style="-sec-ix-hidden: hidden-fact-282">—</div></td><td style="padding-bottom: 1.5pt; text-align: left"> </td><td style="padding-bottom: 1.5pt"> </td>
<td style="border-bottom: Black 1.5pt solid; text-align: left"> </td><td style="border-bottom: Black 1.5pt solid; text-align: right"><div style="-sec-ix-hidden: hidden-fact-283">—</div></td><td style="padding-bottom: 1.5pt; text-align: left"> </td><td style="padding-bottom: 1.5pt"> </td>
<td style="border-bottom: Black 1.5pt solid; text-align: left"> </td><td style="border-bottom: Black 1.5pt solid; text-align: right">(2,489</td><td style="padding-bottom: 1.5pt; text-align: left">)</td></tr>
<tr style="vertical-align: bottom; background-color: rgb(204,238,255)">
<td style="text-align: left; padding-bottom: 4pt; padding-left: 0.125in">Net loss attributable to common stockholders</td><td style="padding-bottom: 4pt"> </td>
<td style="border-bottom: Black 4pt double; text-align: left">$</td><td style="border-bottom: Black 4pt double; text-align: right">(6,868</td><td style="padding-bottom: 4pt; text-align: left">)</td><td style="padding-bottom: 4pt"> </td>
<td style="border-bottom: Black 4pt double; text-align: left">$</td><td style="border-bottom: Black 4pt double; text-align: right">(4,687</td><td style="padding-bottom: 4pt; text-align: left">)</td><td style="padding-bottom: 4pt"> </td>
<td style="border-bottom: Black 4pt double; text-align: left">$</td><td style="border-bottom: Black 4pt double; text-align: right">(13,800</td><td style="padding-bottom: 4pt; text-align: left">)</td><td style="padding-bottom: 4pt"> </td>
<td style="border-bottom: Black 4pt double; text-align: left">$</td><td style="border-bottom: Black 4pt double; text-align: right">(12,784</td><td style="padding-bottom: 4pt; text-align: left">)</td></tr>
<tr style="vertical-align: bottom; ">
<td>Denominator:</td><td> </td>
<td style="text-align: left"> </td><td style="text-align: right"> </td><td style="text-align: left"> </td><td> </td>
<td style="text-align: left"> </td><td style="text-align: right"> </td><td style="text-align: left"> </td><td> </td>
<td style="text-align: left"> </td><td style="text-align: right"> </td><td style="text-align: left"> </td><td> </td>
<td style="text-align: left"> </td><td style="text-align: right"> </td><td style="text-align: left"> </td></tr>
<tr style="vertical-align: bottom; background-color: rgb(204,238,255)">
<td style="text-align: left; padding-bottom: 4pt; padding-left: 0.125in">Weighted-average common shares outstanding</td><td style="padding-bottom: 4pt"> </td>
<td style="border-bottom: Black 4pt double; text-align: left"> </td><td style="border-bottom: Black 4pt double; text-align: right">32,793,907</td><td style="padding-bottom: 4pt; text-align: left"> </td><td style="padding-bottom: 4pt"> </td>
<td style="border-bottom: Black 4pt double; text-align: left"> </td><td style="border-bottom: Black 4pt double; text-align: right">32,017,335</td><td style="padding-bottom: 4pt; text-align: left"> </td><td style="padding-bottom: 4pt"> </td>
<td style="border-bottom: Black 4pt double; text-align: left"> </td><td style="border-bottom: Black 4pt double; text-align: right">32,769,093</td><td style="padding-bottom: 4pt; text-align: left"> </td><td style="padding-bottom: 4pt"> </td>
<td style="border-bottom: Black 4pt double; text-align: left"> </td><td style="border-bottom: Black 4pt double; text-align: right">20,099,402</td><td style="padding-bottom: 4pt; text-align: left"> </td></tr>
<tr style="vertical-align: bottom; ">
<td> </td><td> </td>
<td style="text-align: left"> </td><td style="text-align: right"> </td><td style="text-align: left"> </td><td> </td>
<td style="text-align: left"> </td><td style="text-align: right"> </td><td style="text-align: left"> </td><td> </td>
<td style="text-align: left"> </td><td style="text-align: right"> </td><td style="text-align: left"> </td><td> </td>
<td style="text-align: left"> </td><td style="text-align: right"> </td><td style="text-align: left"> </td></tr>
<tr style="vertical-align: bottom; background-color: rgb(204,238,255)">
<td style="text-align: left; padding-bottom: 4pt; text-indent: -0.125in; padding-left: 0.125in">Net loss per share attributable to common stockholders, basic and diluted</td><td style="padding-bottom: 4pt"> </td>
<td style="border-bottom: Black 4pt double; text-align: left">$</td><td style="border-bottom: Black 4pt double; text-align: right">(0.21</td><td style="padding-bottom: 4pt; text-align: left">)</td><td style="padding-bottom: 4pt"> </td>
<td style="border-bottom: Black 4pt double; text-align: left">$</td><td style="border-bottom: Black 4pt double; text-align: right">(0.15</td><td style="padding-bottom: 4pt; text-align: left">)</td><td style="padding-bottom: 4pt"> </td>
<td style="border-bottom: Black 4pt double; text-align: left">$</td><td style="border-bottom: Black 4pt double; text-align: right">(0.42</td><td style="padding-bottom: 4pt; text-align: left">)</td><td style="padding-bottom: 4pt"> </td>
<td style="border-bottom: Black 4pt double; text-align: left">$</td><td style="border-bottom: Black 4pt double; text-align: right">(0.64</td><td style="padding-bottom: 4pt; text-align: left">)</td></tr>
</table><p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify"> </p><p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify">The potential shares of common stock that were
excluded from the computation of diluted net loss per share attributable to common stockholders for the six months ended June 30, 2022
and 2021 because including them would have been antidilutive are as follows:</p><p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify"> </p><table cellpadding="0" cellspacing="0" style="font: 10pt Times New Roman, Times, Serif; border-collapse: collapse; width: 100%">
<tr style="vertical-align: bottom">
<td> </td><td style="padding-bottom: 1.5pt"> </td>
<td colspan="6" style="border-bottom: Black 1.5pt solid; text-align: center"><b>Six Months Ended <br/>
June 30,</b></td><td style="padding-bottom: 1.5pt"> </td></tr>
<tr style="vertical-align: bottom">
<td> </td><td style="padding-bottom: 1.5pt"><b> </b></td>
<td colspan="2" style="border-bottom: Black 1.5pt solid; text-align: center"><b>2022</b></td><td style="padding-bottom: 1.5pt"> </td><td style="padding-bottom: 1.5pt"><b> </b></td>
<td colspan="2" style="border-bottom: Black 1.5pt solid; text-align: center"><b>2021</b></td><td style="padding-bottom: 1.5pt"> </td></tr>
<tr style="vertical-align: bottom; background-color: rgb(204,238,255)">
<td style="width: 76%; text-align: left">Non-vested shares under restricted stock grants</td><td style="width: 1%"> </td>
<td style="width: 1%; text-align: left"> </td><td style="width: 9%; text-align: right"><div style="-sec-ix-hidden: hidden-fact-284">—</div></td><td style="width: 1%; text-align: left"> </td><td style="width: 1%"> </td>
<td style="width: 1%; text-align: left"> </td><td style="width: 9%; text-align: right">589,167</td><td style="width: 1%; text-align: left"> </td></tr>
<tr style="vertical-align: bottom; ">
<td style="text-align: left">Shares subject to options to purchase common stock</td><td> </td>
<td style="text-align: left"> </td><td style="text-align: right">6,719,312</td><td style="text-align: left"> </td><td> </td>
<td style="text-align: left"> </td><td style="text-align: right">4,717,637</td><td style="text-align: left"> </td></tr>
<tr style="vertical-align: bottom; background-color: rgb(204,238,255)">
<td style="text-align: left; padding-bottom: 1.5pt">Shares subject to warrants to purchase common stock</td><td style="padding-bottom: 1.5pt"> </td>
<td style="border-bottom: Black 1.5pt solid; text-align: left"> </td><td style="border-bottom: Black 1.5pt solid; text-align: right">1,938,143</td><td style="padding-bottom: 1.5pt; text-align: left"> </td><td style="padding-bottom: 1.5pt"> </td>
<td style="border-bottom: Black 1.5pt solid; text-align: left"> </td><td style="border-bottom: Black 1.5pt solid; text-align: right">1,938,143</td><td style="padding-bottom: 1.5pt; text-align: left"> </td></tr>
<tr style="vertical-align: bottom; ">
<td style="padding-bottom: 4pt">Total</td><td style="padding-bottom: 4pt"> </td>
<td style="border-bottom: Black 4pt double; text-align: left"> </td><td style="border-bottom: Black 4pt double; text-align: right">8,657,455</td><td style="padding-bottom: 4pt; text-align: left"> </td><td style="padding-bottom: 4pt"> </td>
<td style="border-bottom: Black 4pt double; text-align: left"> </td><td style="border-bottom: Black 4pt double; text-align: right">7,244,947</td><td style="padding-bottom: 4pt; text-align: left"> </td></tr>
</table><p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify"> </p><p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify">For the three and six months ended June 30,
2022 and 2021, performance based option awards for 150,200 and 50,200 shares of common stock, respectively, are not included in in
the table above or considered in the calculation of diluted earnings per share until the performance conditions of the option award
are considered probable by the Company.</p>
<table cellpadding="0" cellspacing="0" style="border-collapse: collapse; width: 100%; font: 10pt Times New Roman, Times, Serif">
<tr style="vertical-align: bottom">
<td style="text-align: center"> </td><td style="font-weight: bold; padding-bottom: 1.5pt"> </td>
<td colspan="6" style="font-weight: bold; text-align: center; border-bottom: Black 1.5pt solid">Three Months Ended <br/> June 30,</td><td style="padding-bottom: 1.5pt; font-weight: bold"> </td><td style="font-weight: bold; padding-bottom: 1.5pt"> </td>
<td colspan="6" style="font-weight: bold; text-align: center; border-bottom: Black 1.5pt solid">Six Months Ended <br/> June 30,</td><td style="padding-bottom: 1.5pt; font-weight: bold"> </td></tr>
<tr style="vertical-align: bottom">
<td> </td><td style="font-weight: bold; padding-bottom: 1.5pt"> </td>
<td colspan="2" style="font-weight: bold; text-align: center; border-bottom: Black 1.5pt solid">2022</td><td style="padding-bottom: 1.5pt; font-weight: bold"> </td><td style="font-weight: bold; padding-bottom: 1.5pt"> </td>
<td colspan="2" style="font-weight: bold; text-align: center; border-bottom: Black 1.5pt solid">2021</td><td style="padding-bottom: 1.5pt; font-weight: bold"> </td><td style="font-weight: bold; padding-bottom: 1.5pt"> </td>
<td colspan="2" style="font-weight: bold; text-align: center; border-bottom: Black 1.5pt solid">2022</td><td style="padding-bottom: 1.5pt; font-weight: bold"> </td><td style="font-weight: bold; padding-bottom: 1.5pt"> </td>
<td colspan="2" style="font-weight: bold; text-align: center; border-bottom: Black 1.5pt solid">2021</td><td style="padding-bottom: 1.5pt; font-weight: bold"> </td></tr>
<tr style="vertical-align: bottom">
<td>Numerator:</td><td> </td>
<td colspan="2"> </td><td> </td><td> </td>
<td colspan="2"> </td><td> </td><td> </td>
<td colspan="2"> </td><td> </td><td> </td>
<td colspan="2"> </td><td> </td></tr>
<tr style="vertical-align: bottom; background-color: rgb(204,238,255)">
<td style="width: 52%; text-align: left; padding-left: 0.125in">Net loss and comprehensive loss</td><td style="width: 1%"> </td>
<td style="width: 1%; text-align: left">$</td><td style="width: 9%; text-align: right">(6,868</td><td style="width: 1%; text-align: left">)</td><td style="width: 1%"> </td>
<td style="width: 1%; text-align: left">$</td><td style="width: 9%; text-align: right">(4,687</td><td style="width: 1%; text-align: left">)</td><td style="width: 1%"> </td>
<td style="width: 1%; text-align: left">$</td><td style="width: 9%; text-align: right">(13,800</td><td style="width: 1%; text-align: left">)</td><td style="width: 1%"> </td>
<td style="width: 1%; text-align: left">$</td><td style="width: 9%; text-align: right">(10,295</td><td style="width: 1%; text-align: left">)</td></tr>
<tr style="vertical-align: bottom; ">
<td style="text-align: left; padding-bottom: 1.5pt; text-indent: -0.125in; padding-left: 0.25in">Accretion and dividends on redeemable convertible preferred stock</td><td style="padding-bottom: 1.5pt"> </td>
<td style="border-bottom: Black 1.5pt solid; text-align: left"> </td><td style="border-bottom: Black 1.5pt solid; text-align: right"><div style="-sec-ix-hidden: hidden-fact-281">—</div></td><td style="padding-bottom: 1.5pt; text-align: left"> </td><td style="padding-bottom: 1.5pt"> </td>
<td style="border-bottom: Black 1.5pt solid; text-align: left"> </td><td style="border-bottom: Black 1.5pt solid; text-align: right"><div style="-sec-ix-hidden: hidden-fact-282">—</div></td><td style="padding-bottom: 1.5pt; text-align: left"> </td><td style="padding-bottom: 1.5pt"> </td>
<td style="border-bottom: Black 1.5pt solid; text-align: left"> </td><td style="border-bottom: Black 1.5pt solid; text-align: right"><div style="-sec-ix-hidden: hidden-fact-283">—</div></td><td style="padding-bottom: 1.5pt; text-align: left"> </td><td style="padding-bottom: 1.5pt"> </td>
<td style="border-bottom: Black 1.5pt solid; text-align: left"> </td><td style="border-bottom: Black 1.5pt solid; text-align: right">(2,489</td><td style="padding-bottom: 1.5pt; text-align: left">)</td></tr>
<tr style="vertical-align: bottom; background-color: rgb(204,238,255)">
<td style="text-align: left; padding-bottom: 4pt; padding-left: 0.125in">Net loss attributable to common stockholders</td><td style="padding-bottom: 4pt"> </td>
<td style="border-bottom: Black 4pt double; text-align: left">$</td><td style="border-bottom: Black 4pt double; text-align: right">(6,868</td><td style="padding-bottom: 4pt; text-align: left">)</td><td style="padding-bottom: 4pt"> </td>
<td style="border-bottom: Black 4pt double; text-align: left">$</td><td style="border-bottom: Black 4pt double; text-align: right">(4,687</td><td style="padding-bottom: 4pt; text-align: left">)</td><td style="padding-bottom: 4pt"> </td>
<td style="border-bottom: Black 4pt double; text-align: left">$</td><td style="border-bottom: Black 4pt double; text-align: right">(13,800</td><td style="padding-bottom: 4pt; text-align: left">)</td><td style="padding-bottom: 4pt"> </td>
<td style="border-bottom: Black 4pt double; text-align: left">$</td><td style="border-bottom: Black 4pt double; text-align: right">(12,784</td><td style="padding-bottom: 4pt; text-align: left">)</td></tr>
<tr style="vertical-align: bottom; ">
<td>Denominator:</td><td> </td>
<td style="text-align: left"> </td><td style="text-align: right"> </td><td style="text-align: left"> </td><td> </td>
<td style="text-align: left"> </td><td style="text-align: right"> </td><td style="text-align: left"> </td><td> </td>
<td style="text-align: left"> </td><td style="text-align: right"> </td><td style="text-align: left"> </td><td> </td>
<td style="text-align: left"> </td><td style="text-align: right"> </td><td style="text-align: left"> </td></tr>
<tr style="vertical-align: bottom; background-color: rgb(204,238,255)">
<td style="text-align: left; padding-bottom: 4pt; padding-left: 0.125in">Weighted-average common shares outstanding</td><td style="padding-bottom: 4pt"> </td>
<td style="border-bottom: Black 4pt double; text-align: left"> </td><td style="border-bottom: Black 4pt double; text-align: right">32,793,907</td><td style="padding-bottom: 4pt; text-align: left"> </td><td style="padding-bottom: 4pt"> </td>
<td style="border-bottom: Black 4pt double; text-align: left"> </td><td style="border-bottom: Black 4pt double; text-align: right">32,017,335</td><td style="padding-bottom: 4pt; text-align: left"> </td><td style="padding-bottom: 4pt"> </td>
<td style="border-bottom: Black 4pt double; text-align: left"> </td><td style="border-bottom: Black 4pt double; text-align: right">32,769,093</td><td style="padding-bottom: 4pt; text-align: left"> </td><td style="padding-bottom: 4pt"> </td>
<td style="border-bottom: Black 4pt double; text-align: left"> </td><td style="border-bottom: Black 4pt double; text-align: right">20,099,402</td><td style="padding-bottom: 4pt; text-align: left"> </td></tr>
<tr style="vertical-align: bottom; ">
<td> </td><td> </td>
<td style="text-align: left"> </td><td style="text-align: right"> </td><td style="text-align: left"> </td><td> </td>
<td style="text-align: left"> </td><td style="text-align: right"> </td><td style="text-align: left"> </td><td> </td>
<td style="text-align: left"> </td><td style="text-align: right"> </td><td style="text-align: left"> </td><td> </td>
<td style="text-align: left"> </td><td style="text-align: right"> </td><td style="text-align: left"> </td></tr>
<tr style="vertical-align: bottom; background-color: rgb(204,238,255)">
<td style="text-align: left; padding-bottom: 4pt; text-indent: -0.125in; padding-left: 0.125in">Net loss per share attributable to common stockholders, basic and diluted</td><td style="padding-bottom: 4pt"> </td>
<td style="border-bottom: Black 4pt double; text-align: left">$</td><td style="border-bottom: Black 4pt double; text-align: right">(0.21</td><td style="padding-bottom: 4pt; text-align: left">)</td><td style="padding-bottom: 4pt"> </td>
<td style="border-bottom: Black 4pt double; text-align: left">$</td><td style="border-bottom: Black 4pt double; text-align: right">(0.15</td><td style="padding-bottom: 4pt; text-align: left">)</td><td style="padding-bottom: 4pt"> </td>
<td style="border-bottom: Black 4pt double; text-align: left">$</td><td style="border-bottom: Black 4pt double; text-align: right">(0.42</td><td style="padding-bottom: 4pt; text-align: left">)</td><td style="padding-bottom: 4pt"> </td>
<td style="border-bottom: Black 4pt double; text-align: left">$</td><td style="border-bottom: Black 4pt double; text-align: right">(0.64</td><td style="padding-bottom: 4pt; text-align: left">)</td></tr>
</table><p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify"> </p>
-6868000
-4687000
-13800000
-10295000
2489000
-6868000
-4687000
-13800000
-12784000
32793907
32017335
32769093
20099402
-0.21
-0.15
-0.42
-0.64
<table cellpadding="0" cellspacing="0" style="font: 10pt Times New Roman, Times, Serif; border-collapse: collapse; width: 100%">
<tr style="vertical-align: bottom">
<td> </td><td style="padding-bottom: 1.5pt"> </td>
<td colspan="6" style="border-bottom: Black 1.5pt solid; text-align: center"><b>Six Months Ended <br/>
June 30,</b></td><td style="padding-bottom: 1.5pt"> </td></tr>
<tr style="vertical-align: bottom">
<td> </td><td style="padding-bottom: 1.5pt"><b> </b></td>
<td colspan="2" style="border-bottom: Black 1.5pt solid; text-align: center"><b>2022</b></td><td style="padding-bottom: 1.5pt"> </td><td style="padding-bottom: 1.5pt"><b> </b></td>
<td colspan="2" style="border-bottom: Black 1.5pt solid; text-align: center"><b>2021</b></td><td style="padding-bottom: 1.5pt"> </td></tr>
<tr style="vertical-align: bottom; background-color: rgb(204,238,255)">
<td style="width: 76%; text-align: left">Non-vested shares under restricted stock grants</td><td style="width: 1%"> </td>
<td style="width: 1%; text-align: left"> </td><td style="width: 9%; text-align: right"><div style="-sec-ix-hidden: hidden-fact-284">—</div></td><td style="width: 1%; text-align: left"> </td><td style="width: 1%"> </td>
<td style="width: 1%; text-align: left"> </td><td style="width: 9%; text-align: right">589,167</td><td style="width: 1%; text-align: left"> </td></tr>
<tr style="vertical-align: bottom; ">
<td style="text-align: left">Shares subject to options to purchase common stock</td><td> </td>
<td style="text-align: left"> </td><td style="text-align: right">6,719,312</td><td style="text-align: left"> </td><td> </td>
<td style="text-align: left"> </td><td style="text-align: right">4,717,637</td><td style="text-align: left"> </td></tr>
<tr style="vertical-align: bottom; background-color: rgb(204,238,255)">
<td style="text-align: left; padding-bottom: 1.5pt">Shares subject to warrants to purchase common stock</td><td style="padding-bottom: 1.5pt"> </td>
<td style="border-bottom: Black 1.5pt solid; text-align: left"> </td><td style="border-bottom: Black 1.5pt solid; text-align: right">1,938,143</td><td style="padding-bottom: 1.5pt; text-align: left"> </td><td style="padding-bottom: 1.5pt"> </td>
<td style="border-bottom: Black 1.5pt solid; text-align: left"> </td><td style="border-bottom: Black 1.5pt solid; text-align: right">1,938,143</td><td style="padding-bottom: 1.5pt; text-align: left"> </td></tr>
<tr style="vertical-align: bottom; ">
<td style="padding-bottom: 4pt">Total</td><td style="padding-bottom: 4pt"> </td>
<td style="border-bottom: Black 4pt double; text-align: left"> </td><td style="border-bottom: Black 4pt double; text-align: right">8,657,455</td><td style="padding-bottom: 4pt; text-align: left"> </td><td style="padding-bottom: 4pt"> </td>
<td style="border-bottom: Black 4pt double; text-align: left"> </td><td style="border-bottom: Black 4pt double; text-align: right">7,244,947</td><td style="padding-bottom: 4pt; text-align: left"> </td></tr>
</table><p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify"> </p>
589167
6719312
4717637
1938143
1938143
8657455
7244947
150200
50200
<p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify"><span style="text-transform: uppercase"><b>Note
14 – Subsequent Events </b></span></p><p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify"> </p><p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify">Management of the Company evaluated events that
have occurred after the balance sheet dates through the date these condensed consolidated financial statements were issued. Based upon
the review, management did not identify any recognized or non-recognized subsequent events that would have required
adjustment or disclosure in the condensed consolidated financial statements.</p><p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify"> </p><p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify">On August 8, 2022, the Company approved common stock option awards
covering a total of 255,000 shares of common stock to non-executive employees.</p><p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify"> </p><p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify">On August 15, 2022, the Company entered into an
At-the-Market Issuance Agreement (the “Issuance Agreement”) with B. Riley Securities, Inc. (the “Sales Agent”).
Pursuant to the terms of the Issuance Agreement, the Company may sell from time to time through the Sales Agent shares of the Company’s
common stock having an aggregate offering price of up to $50,000,000 (the “Shares”). Sales of Shares, if any, may be made
by means of transactions that are deemed to be “at the market” offerings as defined in Rule 415 under the Securities Act,
including block trades, ordinary brokers’ transactions on the Nasdaq Capital Market or otherwise at market prices prevailing at
the time of sale, at prices related to prevailing market prices or at negotiated prices or by any other method permitted by law.</p><p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify"> </p><p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify">Under the terms of the Issuance Agreement, the
Company may also sell Shares to the Sales Agent as principal for its own accounts at a price to be agreed upon at the time of sale. Any
sale of Shares to the Sales Agent as principal would be pursuant to the terms of a separate terms agreement between the Company and the
Sales Agent.</p><p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify"> </p><p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify">The Company has no obligation to sell any of the
Shares under the Issuance Agreement and may at any time suspend solicitation and offers under the Issuance Agreement.</p>
255000
50000000
-0.15
-0.21
-0.42
-0.64
20099402
32017335
32769093
32793907
false
--12-31
Q2
0001734750