Annual report pursuant to Section 13 and 15(d)

Warrants (Tables)

v3.21.1
Warrants (Tables)
12 Months Ended
Dec. 31, 2020
Warrants and Rights Note Disclosure [Abstract]  
Warrants

The following assumptions were used in the Black-Scholes model:

   

Year ended

December 31, 2020

Exercise price     $2.50 to $5.00  
Risk free interest rate     0.16 to 0.29
Expected life of warrants     2 to 5 years  
Expected volatility of underlying stock     139.5 to 183.5  
Expected dividend rate     0 %

  

A summary of all of the Company’s warrant activity during the period January 1, 2019 to September 30, 2020 is as follows:

 

    Number of shares   Exercise price per share   Weighted average exercise price  
Outstanding January 1, 2019       1,089,474       $ 4.00     $ 4.00  
Granted       —           —         —    
Forfeited/cancelled       —           —         —    
Exercised       —           —         —    
Expired       —           —         —    
Outstanding December 31, 2019       1,089,474       $ 4.00     $ 4.00  
Granted       5,374,371         2.50 to 5.00       2.62  
Forfeited/cancelled       (1,089,474 )       4.00       4.00  
Exercised       (3,321,226 )       2.50 - 5.00       2.62  
Outstanding December 31, 2020       2,053,145       $ 2.50 to 5.00     $ 2.63  
                                         

 

The following tables summarize information about warrants outstanding as of December 31, 2020:

 

    Warrants outstanding   Warrants exercisable

 

Exercise price

    Number of shares       Weighted average remaining years       Weighted average exercise price       Number of shares       Weighted average exercise price  
$2.50     1,747,949       4.65     $ 2.50       1,747,949     $ 2.50  
$3.00     208,333       2.63       3.00       208,333       3.00  
$3.75     57,761       1.41       3.75       57,761       3.75  
$5.00     39,102       2.17       5.00       39,102       5.00  
      2,053,145       4.31     $ 2.63       2,053,145     $ 2.63