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Stockholders Equity
 6 Months Ended
Jun. 30, 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 of common stock at $5.50 per share and 35,088 shares of common stock at $5.70 per share for net proceeds of $878,503. No shares were issued in the second quarter of 2023.

 

The Company closed a private placement in February 2022. Under the private placement, the Company sold 360,134 shares of common stock 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. In the second quarter of 2022, the Company sold 138,665 shares of common stock for net proceeds of 980,107.

 

Stock Purchase Warrants Outstanding

In the six months ended June 30, 2022, 93,976 shares of common stock were issued in exchange for outstanding warrants for net proceeds of $465,453.

 

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 quarter 2, 2022

 

 

(70,919)

 

$5.60

 

Exercised in remainder of 2022

 

 

(100,893)

 

$5.60

 

Balance December 31, 2022 and June 30, 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