Quarterly report pursuant to Section 13 or 15(d)

Stockholders' Equity and Capitalization

v3.23.2
Stockholders' Equity and Capitalization
6 Months Ended
Jun. 30, 2023
Equity [Abstract]  
Stockholders' Equity and Capitalization Stockholders’ Equity and Capitalization
Warrant Exercises
During the six months ended June 30, 2023, 16,641,486 of the outstanding stock warrants held by Sciences in conjunction with the MTA, with an intrinsic value of $332,830 were exercised in exchange for 16,641,486 shares of common stock for gross proceeds of $282,905 (Note 5).
Induced Conversion of Amended Credit Agreement
During the six months ended June 30, 2023, the Company issued 41,379,164 shares of common stock to Sciences. The shares were issued in conjunction with the MTA, in exchange for the remaining principal balance plus accrued interest less the aggregate exercise price of $282,905 from the exercise of the MTA Warrants in the amount of $1,597,236 at a conversion price of $0.0386