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Stockholders Equity
 3 Months Ended
Mar. 31, 2024
Stockholders Equity  
Stockholders' Equity

12. Stockholders’ Equity

 

Stock Issuance Activity

In the first quarter of 2024, the Company issued common stock as follows:

 

 

·

Sold 127,152 shares of common stock at an average price of $6.67 per share for $847,492.

 

·

Issued 147,026 shares of common stock in exchange for outstanding warrants for $823,346.

 

·

Issued 5,357 shares of common stock in exchange for outstanding stock options for $29,999,

 

·

Issued 5,887 shares of common stock for outstanding stock options via cashless exercise.

 

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.

 

Stock Purchase Warrants Outstanding

 

The activity in stock purchase warrants is as follows:

 

Number of

Warrants

 

 

Exercise Prices

 

Balance December 31, 2022 and 2023

 

 

289,294

 

 

$

5.60-7.00

 

Exercised

 

 

(147,026)

 

$5.60

 

Balance March 31, 2024

 

 

142,268

 

 

$

5.60-7.00

 

These warrants expire as follows:

 

Shares

 

 

Exercise Price

 

 

Expiration Date

 

 

 

 

88,696

 

 

$5.60

 

 

October 15, 2024

 

 

 

 

53,572

 

 

$7.00

 

 

November 12, 2024

 

 

 

 

142,268