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Stockholders Equity
 3 Months Ended
Mar. 31, 2023
Stockholders' equity:  
Stockholders' Equity

12. Stockholders’ Equity

 

Stock issuance activity

The Company closed a private placement in February 2023. Under the private placement, the Company sold 123,365 shares at $5.50 per share and 35,088 shares at $5.70 per share for net proceeds of $878,503.

 

The Company closed a private placement in February 2022. Under the private placement, the Company sold 360,134 shares at $7.50 per share for net proceeds of $2,701,000. In the first quarter of 2022 the Company issued 3,572 shares of common stock at $9.05 per share for services provided for a total value of $32,326.

 

Stock Purchase Warrants Outstanding

 

The activity in stock purchase warrants is as follows:

 

Number of

Warrants

 

 

Exercise Prices

 

Balance December 31, 2021

 

 

669,467

 

 

$2.52-7.00

 

Expired

 

 

(185,304)

 

$2.52-5.60

 

Exercised quarter 1, 2022

 

 

(23,057)

 

$2.52-5.60

 

Exercised in remainder of 2022

 

 

(171,812)

 

$5.60

 

Balance December 31, 2022 and March 31, 2023

 

 

289,294

 

 

$5.60-7.00

 

 

These warrants expire as follows:

 

Shares

 

 

Exercise Price

 

 

Expiration Date

 

 

 

 

235,722

 

 

$5.60

 

 

October 14, 2023

 

 

 

 

53,572

 

 

$7.00

 

 

November 12, 2023

 

 

 

 

289,294