17. Subsequent Events

On January 31, 2022, the Company announced its Board of Directors had approved the repurchase of up to $2 million worth of its outstanding common stock from time to time on the open market or in privately negotiated transactions. The timing and amount of any shares repurchased will be determined by the Company’s management based on its evaluation of market conditions and other factors. Repurchases may also be made under a Rule 10b5-1 plan of the Securities Exchange Act of 1934, which would permit shares to be repurchased when the Company might otherwise be precluded from doing so under insider trading laws. The repurchase program may be suspended or discontinued at any time in the Company’s sole discretion. Any repurchased shares will be available for use in connection with its stock plans and for other corporate purposes. Through March 28, 2022, the Company repurchased 127,326 shares at an average share price of $0.97 for total purchase price of $127,300.

On February 14, 2022, in connection with the RemoteMore transaction, the Company issued 279,720 shares of its common stock, par value $0.01 per share, to Boris Krastev Ventures UG, equal to $400,000 value according to the Stock Purchase Agreement between the Company and RemoteMore USA, Inc.