Annual report pursuant to Section 13 and 15(d)

STOCK WARRANTS

v3.23.1
STOCK WARRANTS
12 Months Ended
Dec. 31, 2022
Stock Warrants  
STOCK WARRANTS

NOTE 9 – STOCK WARRANTS

 

The following table summarizes warrant activity:

 

   

Number of

Warrants

   

Weighted Average

Exercise Price

 
Outstanding, December 31, 2020     370,000     $ 8.75  
Issued            
Exercised     (345,878 )     4.07  
Outstanding, December 31, 2021     24,122     $ 3.13  
Issued            
Exercised            
Outstanding, December 31, 2022     24,122     $ 3.13  
Exercisable, December 31, 2022     24,122     $ 3.13  

 

During year ended December 31, 2021, warrants to purchase 225,878 shares of common stock were exercised at $3.13 exercise price per share or total net proceeds to the Company of $707 upon exercise. Also during 2021, warrants exercisable into 120,000 shares of the Company’s common stock were exercised under a cashless exercise option into 61,644 shares of the Company’s common stock.

 

There was no intrinsic value of the outstanding and exercisable warrants at December 31, 2022.