XML 25 R14.htm IDEA: XBRL DOCUMENT
v3.22.1

Outstanding Warrants | 3 Months Ended
--- | ---
Mar. 31, 2022
Outstanding Warrants |
Outstanding Warrants | 8. Outstanding Warrants The weighted average fair value calculations for warrants granted are based on the following weighted average assumptions:
Description |  | For the three months ended March 31, |
|  | 2022 |  |  | 2021 |
Dividend-yield |  |  | 0 | % |  |  | 0 | %
Risk-free interest rate |  |  | 1.45 | % |  |  | 0.12 | %
Expected volatility |  |  | 139.55 | % |  |  | 150.17 | %
Expected life (years) |  |  | 4 |  |  |  | 2 |
Exercise price per warrant |  | $ | 13.33 |  |  | $ | 0.01 |
Market value per share on grant date |  | $ | 13.06 |  |  | $ | 2.49 |
Fair value per warrant on grant date |  | $ | 11.01 |  |  | $ | 2.48 |
A summary of historical warrant activity follows:
|  | Warrants Outstanding & Exercisable |  |  | Weighted - Average Exercise Price |  |  | Average Remaining Term in Years |
Outstanding December 31, 2020 |  |  | 95 |  |  | $ | 2.59 |  |  |  | 4.95 |
Granted |  |  | 292 |  |  |  | 0.01 |  |  |  |  |
Exercised |  |  | (332 | ) |  |  | 0.32 |  |  |  |  |
Outstanding December 31, 2021 |  |  | 55 |  |  | $ | 2.59 |  |  |  | 3.95 |
Granted |  |  | 413 |  |  |  | 13.33 |  |  |  |  |
Exercised |  |  | (113 | ) |  |  | 0.01 |  |  |  |  |
Outstanding March 31, 2022 |  |  | 355 |  |  | $ | 15.92 |  |  |  | 8.24 |
All of the above outstanding warrants are vested and exercisable as of March 31, 2022. As of March 31, 2022 and 2021, the Company had no unrecognized compensation expense related to warrants, respectively.

X
- Definition Tabular disclosure of warrants or rights issued. Warrants and rights outstanding are derivative securities that give the holder the right to purchase securities (usually equity) from the issuer at a specific price within a certain time frame. Warrants are often included in a new debt issue to entice investors by a higher return potential. The main difference between warrants and call options is that warrants are issued and guaranteed by the company, whereas options are exchange instruments and are not issued by the company. Also, the lifetime of a warrant is often measured in years, while the lifetime of a typical option is measured in months. Disclose the title of issue of securities called for by warrants and rights outstanding, the aggregate amount of securities called for by warrants and rights outstanding, the date from which the warrants or rights are exercisable, and the price at which the warrant or right is exercisable. + References Reference 1: http://fasb.org/us-gaap/role/ref/legacyRef -Publisher FASB -Name Accounting Standards Codification -Topic 718 -SubTopic 10 -Section 50 -Paragraph 1 -Subparagraph (a) -URI http://asc.fasb.org/extlink&oid=120381028&loc=d3e5047-113901 Reference 2: http://fasb.org/us-gaap/role/ref/legacyRef -Publisher FASB -Name Accounting Standards Codification -Topic 505 -SubTopic 50 -Section S99 -Paragraph 1 -URI http://asc.fasb.org/extlink&oid=6784392&loc=d3e188667-122775 + Details
Name: | us-gaap_ScheduleOfStockholdersEquityNoteWarrantsOrRightsTextBlock
Namespace Prefix: | us-gaap_
Data Type: | dtr-types:textBlockItemType
Balance Type: | na
Period Type: | duration

X
- References No definition available. + Details
Name: | us-gaap_WarrantsAndRightsNoteDisclosureAbstract
Namespace Prefix: | us-gaap_
Data Type: | xbrli:stringItemType
Balance Type: | na
Period Type: | duration