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12. Stockholders' Equity
 6 Months Ended
Jun. 30, 2020
Notes  
12. Stockholders' Equity 12. Stockholders’ Equity 

 

The Company closed a private placement in April 2020. Under the private placement, the Company sold 1,481,481 units at $0.135 per unit for net proceeds of $200,000. Each unit consisted of one share of the Company’s stock and one half of one stock purchase warrant with each whole warrant exercisable for one share of the Company’s stock at $0.18 for 24 months. In the second quarter of 2019, 1,200,000 warrants were exercised in exchange for 398,575 shares of the Company’s common stock in a cashless warrant exercise.

Stock Purchase Warrants Outstanding

The activity in stock purchase warrants is as follows:

 

 

 

Number of

Warrants

 

Exercise Prices

Balance December 31, 2018

 

14,100,123

 

0.10-0.20

Exercised

 

(1,200,000)

 

0.10

Balance December 31, 2019

 

12,900,123

 

0.18-0.22

Issued

 

740,741

 

0.18

Expired

 

(10,816,789)

 

0.20-0.22

Balance June 30, 2020

 

2,824,075

 

$0.18-0.20

These warrants expire as follows:

 

Shares

Exercise Price

Expiration Date

1,708,334

$0.20

November 3, 2020

375,000

$0.18

December 14, 2023

740,741

$0.18

April 21, 2022

2,824,075

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