Note 13.   Subsequent Events

On August 4, 2020 the Company completed an IPO of its common stock, which resulted in the issuance and sale of 3,430,000 shares of its common stock at a public offering price of $10.00 per share, generating net proceeds of $31.3 million after deducting underwriting discounts and other offering costs. The shares commenced trading on the Nasdaq Capital Market on July 31, 2020 under the ticker symbol “FTHM.”

On July 30, 2020, the effective date of the registration statement used in the IPO, the Company agreed to issue warrants to the underwriter (the “Underwriter Warrant”) to purchase 240,100 shares of common stock. The Underwriter Warrant is exercisable at a per share exercise price of $11.00, which is equal to 110% of the public offering price per share of common stock sold in the IPO. The Underwriter Warrant is exercisable at any time and from time to time from and after January 26, 2021, which is 180 days following the effective date of the registration statement used in the IPO.