Quarterly report pursuant to Section 13 or 15(d)

STOCK WARRANTS

v3.21.2
STOCK WARRANTS
6 Months Ended
Jun. 30, 2021
Stock Warrants  
STOCK WARRANTS

NOTE 8 – STOCK WARRANTS

 

At June 30, 2021, warrant shares outstanding were as follows:

 

    Number of
Warrants
    Weighted
Average Exercise Price
 
Outstanding December 31, 2020     370,000     $ 8.75  
Issued            
Exercised     (345,878 )     (4.07 )
Outstanding, June 30, 2021 (unaudited)     24,122     $ 3.13  
Exercisable, June 30, 2021 (unaudited)     24,122     $ 3.13  

 

At December 31, 2020, the Company had outstanding warrants exercisable into 370,000 shares of the Company’s common stock, of which 250,000 warrants were issued in connection with a July 2020 private placement of the Company’s common stock, and the remaining 120,000 warrants were issued to underwriters in a December 2016 offering.

 

 

During the six months ended June 30, 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 the six months ended June 30, 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.

 

The intrinsic value of the outstanding and exercisable warrants at June 30, 2021 was $151.