XML 24 R14.htm IDEA: XBRL DOCUMENT

Note 8 - Outstanding Warrants

9 Months Ended

Sep. 30, 2022

8. Outstanding Warrants

The weighted average fair value calculations for warrants granted are based on the following weighted average assumptions:

	*For the nine months ended September 30, 2022*
Description	*2022*			*2021*
Dividend-yield		-	%		-	%
Risk-free interest rate		1.75	%		0.19	%
Expected volatility		151.41	%		139.35	%
Expected life (years)		3.52			2.00
Exercise price per warrant	$	10.47		$	0.01
Market value per share on grant date	$	11.29		$	6.83
Fair value per warrant on grant date	$	9.68		$	6.82

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		527			10.46
Exercised		(227	)		0.01
Outstanding September 30, 2022		355		$	15.92		7.74

All of the above outstanding warrants are vested and exercisable as of September 30, 2022. As of September 30, 2022 and 2021, the Company had no unrecognized compensation expense related to warrants, respectively.