Quarterly report pursuant to Section 13 or 15(d)

Other Transactions

v3.22.2.2
Other Transactions
9 Months Ended
Sep. 30, 2022
Business Combination and Asset Acquisition [Abstract]  
Other Transactions OTHER TRANSACTIONS
On October 31, 2019, the Company and ST Engineering Hackney, Inc. (“Hackney”) entered into an Asset Purchase Agreement to purchase certain assets and assume certain liabilities of Hackney. Upon execution of the agreement, the Company deposited approximately 2.3 million shares of its common stock into an escrow account that were to be released to Hackney if certain conditions were met.

The Company believes that such conditions were not met and does not expect to make further payments to Hackney in connection with the Asset Purchase Agreement. Further, the Company expects the shares of its common stock to be released from escrow in 2022.