Quarterly report pursuant to Section 13 or 15(d)

Warrants

v3.24.3
Warrants
 9 Months Ended
Sep. 30, 2024
Warrants and Rights Note Disclosure [Abstract]  
Warrants Warrants
There are significant judgements and estimates inherent in the determination of the fair value of the Company’s warrants. These judgements and estimates include assumptions regarding the Company’s future operating performance and the determination of the appropriate valuation methods.
Warrants
Warrants vested and outstanding as of September 30, 2024 are summarized as follows:
Source Exercise
Price		 Weighted
Average
Remaining
Contractual
Term
(Years)		 Number of
Warrants
Outstanding
2015 Common Stock Warrants $ 1,250.00  0.56 400 
2016 Common Stock Warrants to Service Providers 287.50  2.08 160 
2019 Common Stock Warrants 87.50  0.14 32,000 
2020 Common Stock Warrants to Placement Agent 20.00  0.83 32,668 
2021 Inducement Warrants 37.50  1.81 84,667 
2021 Inducement Warrants to Placement Agent 47.00  1.81 5,927 
2021 Common Stock Warrants 22.50  1.99 311,113 
2021 Common Stock Warrants to Placement Agent 27.50  1.99 21,778 
November 2019 EHT Common Stock Warrants 72.25  0.16 34,213 
December 2019 EHT Common Stock Warrants 37.25  0.24 3,783 
February 2020 EHT Common Stock Warrants 37.25  0.35 80,694 
August 2023 Convertible Note Common Stock Warrants 5.16  8.88 340,000 
August 2023 PIPE Financing Common Stock Warrants 5.16  8.88 2,325,537 
January 2024 Pre-Funded Warrants Common Stock 0.001  Indefinite 8,677,166 
Total warrants outstanding as of September 30, 2024 11,950,106 
As of September 30, 2024, all of the Company's warrants are fully vested.
January 2024 Pre-Funded Warrants
In connection with the January 2024 PIPE Financing (as defined below), the Company issued the Pre-Funded Warrants (as defined below) (See Note 6). The Pre-Funded Warrants have an exercise price of $0.001 per share, and were exercisable immediately upon issuance until exercised in full. The gross proceeds from the issuance of these Pre-Funded Warrants was $22,991,015. The Company determined that the Pre-Funded Warrants are freestanding instruments that do not meet the definition of a liability or derivative. The Pre-Funded Warrants are indexed to the Company’s common stock and meets all other conditions for equity classification. Accordingly, the Pre-Funded Warrants are classified as equity and are accounted for as a component of additional paid-in capital at the time issued. The Company also determined that the Pre-Funded Warrants should be included in the determination of basic and diluted earnings per share. `