Item 1.01 Entry into a Material Definitive
Agreement.
On February 24, 2023, we entered into an amendment
(the “ATM Amendment”) to our At-The-Market Offering Agreement, dated December 23, 2022 (as amended by the ATM Amendment, the
“Agreement”), with Ladenburg Thalmann & Co. Inc. Pursuant to the ATM Amendment, the aggregate offering amount of shares
of the Company’s common stock, $0.0001 par value per share (the “Shares”), which the Company may sell and issue through
Ladenburg, as the sales agent, was increased to the Maximum Amount as defined in the Agreement (the “ATM Upsize”). The Company
has already sold $2,699,906 of Shares under the Agreement.
Also on February 24, 2023, we filed a supplement to the prospectus
supplement, dated December 23, 2022, with the Securities and Exchange Commission (the “Supplement to the Prospectus Supplement”)
in connection with the ATM Upsize, for an aggregate offering price of up to $420,838.
The issuance and sale of the Shares by the Company under the Agreement
will be made pursuant to the Company’s registration statement on Form S-3 (File No. 333-250925) which was declared effective by
the U.S. Securities and Exchange Commission, or SEC, on December 22, 2020 (the “Registration Statement”), as supplemented
by a prospectus supplement dated December 23, 2022 and the Supplement to the Prospectus Supplement.
The foregoing summary of the ATM Amendment does
not purport to be complete and is qualified in its entirety by reference to the full text of the ATM Amendment, which is filed herewith
as Exhibit 1.1.
A copy of the opinion of Burns & Levinson,
LLP relating to the legality of the issuance and sale of shares, is attached hereto as Exhibit 5.1 to this current report on Form 8-K.
This Current Report on Form 8-K shall not constitute
an offer to sell or the solicitation of an offer to buy any shares under the Agreement, nor shall there be any sale of such shares in
any state in which such offer, solicitation or sale would be unlawful prior to registration or qualification under the securities laws
of any such state.
This report contains forward-looking statements.
Forward-looking statements include, but are not limited to, statements that express our intentions, beliefs, expectations, strategies,
predictions or any other statements related to our future activities, or future events or conditions. These statements are based on current
expectations, estimates and projections about our business based, in part, on assumptions made by management. These statements are not
guarantees of future performances and involve risks, uncertainties and assumptions that are difficult to predict. Therefore, actual outcomes
and results may differ materially from what is expressed or forecasted in the forward-looking statements due to numerous factors, including
those risks discussed in our Annual Report on Form 10-K and in other documents that we file from time to time with the SEC. Any forward-looking
statements speak only as of the date on which they are made, and we do not undertake any obligation to update any forward-looking statement
to reflect events or circumstances after the date of this report, except as required by law.