Quarterly report pursuant to Section 13 or 15(d)

Warrants

v3.23.1
Warrants
 3 Months Ended
Mar. 31, 2023
Warrants [Abstract]  
WARRANTS

NOTE 8 – WARRANTS

 

As of March 31, 2023, the fair value of the Public Warrants was approximately $0.04 per Public Warrant based on the closing price of the warrants on The Nasdaq Capital Market. The fair value of the Representative Warrants was approximately $0.042 per Representative Warrant which was based on the relative fair value to the Public Warrants.

 

The following table summarizes the Company’s outstanding warrants:

Exercise Price   Number of
warrants		     Weighted-
average
remaining
contractual term
(years)		     Weighted
average exercise
price		  
$ 1.88     2,000,000       4.38          
$ 3.50     8,680,000       3.65          
$ 6.00     276,000       3.47          
$ 6.25     4,400,000       3.47          
      15,356,000       3.69     $ 4.12  

No warrants were granted during the three months ended March 31, 2023.