{"url_path":"/sec/codx/10-q/2026/item-2","section_key":"item-2","section_title":"Item 2 Unregistered Sales of Equity Securities and Use of Proceeds**","topic":"sec","document":{"doc_type":"10-Q","doc_date":"2026-05-14","source_url":"https://www.sec.gov/Archives/edgar/data/1692415/0001493152-26-023085-index.html","accession_number":"0001493152-26-023085","cik":"0001692415","ticker":"CODX","issuer_name":"Co-Diagnostics, Inc.","edgar_url":"https://www.sec.gov/Archives/edgar/data/1692415/0001493152-26-023085-index.html","primary_entity_key":"0001692415","primary_entity_name":"Co-Diagnostics, Inc."},"word_count":196,"has_tables":true,"body_markdown":"**Item\n2. Unregistered Sales of Equity Securities and Use of Proceeds**\n\n \n\nNone.\n\n \n\n**Dividends**\n\n \n\nWe\nhave never declared or paid any cash dividends on our capital stock. The payment of dividends on our common stock in the future will\ndepend on our earnings, capital requirements, operating and financial condition and such other factors as our board of directors may\nconsider appropriate. We currently expect to use all available funds to finance the future development and expansion of our business\nand do not anticipate paying dividends on our common stock in the foreseeable future.\n\n \n\nPursuant\nto Section 16-10a-640 of the Utah Revised Business Corporation Act, no distribution may be made if, after giving it effect:\n\n \n\n \n(a)\nthe corporation would not\nbe able to pay its debts as they become due in the usual course of business; or\n\n \n \n \n\n \n(b)\nthe corporation’s\ntotal assets would be less than the sum of its total liabilities plus, unless the articles of incorporation permit otherwise, the\namount that would be needed, if the corporation were to be dissolved at the time of the distribution, to satisfy the preferential\nrights upon dissolution of shareholders whose preferential rights are superior to those receiving the distribution."}