v3.25.0.1
Warrants (Tables)
9 Months Ended 12 Months Ended
Sep. 30, 2024
Dec. 31, 2023
Schedule of warrant activity

    

Shares

Balance December 31, 2023

268,937

Issued

Exercised

(187,415)

Cancelled

(90)

Balance September 30, 2024

81,432

    

Shares

Balance December 31, 2021

 

2,398

Issued

 

2,504

(1)

Exercised

 

(1,459)

(2)

Cancelled

 

(107)

 

Balance December 31, 2022

3,336

Issued

619,185

(3)

Exercised

(353,581)

(4)

Cancelled

(3)

 

Balance December 31, 2023

268,937

(1)Warrants issued in 2022 includes: 1,289 reload warrants, 995 common stock purchase warrants, 50 representative’s warrants, and 170 pre-funded warrants.
(2)Warrants exercised in 2022 includes: 1,289 reload warrants at an exercise price of $1,933.14 per share, and 170 pre-funded warrants at an exercise price of $2.90 per share.
(3)Warrants issued in 2023 includes: 472,672 common stock purchase warrants, of which 37,921 are classifies as liability warrants, 136,713 pre-funded warrants, and 9,800 representative’s warrants.
(4)Warrants exercised in 2023 includes: 188,000 common stock purchase warrants at an exercise price range of $19.14 per share and $13.34 per share, 28,869 common stock purchase warrants (liability warrants) exercised with the alternative cash less option, 136,712 pre-funded warrants at an exercise price range of $0.06 and $0.01 per share.
Schedule of changes in the fair value of warrant liabilities

Common Stock

Purchase Warrants

Fair value as of December 31, 2023

$

72

Gain on changes in fair value of liability warrants

(46)

Fair value as of September 30, 2024

$

26

Common Stock

Purchase Warrants

Fair value as of February 8, 2023 (issuance date)

$

10,363

Fair value of liability warrants in excess of proceeds, at issuance

(164)

Exercises of liability warrants

(6,249)

Gain on changes in fair value of liability warrants

(3,878)

Fair value as of December 31, 2023

$

72

Black-Scholes model    
Schedule of Warrant Assumptions Used to Calculate Fair Value

Cash Exercise

    

Cashless Exercise

  

Stock Price

$

5.905

$

5.905

Exercise Price

$

16.00

$

0.00

Term (years)

5.00

5.00

Volatility

96.50

%

96.50

%

Risk Free Rate

3.784

%

3.784

%

Dividend Yield

0

%

0

%

    

Warrants

    

Strike Price

    

Volatility

Expected Term

    

Risk Free Rate

Pre-funded warrants - February 2023

1,552

$

0.01

96.5

%

5.0

3.78

%

Representative’s warrants - February 2023

1,265

$

510.40

96.5

%

5.0

3.79

%

Common stock warrants - April 2023

13,806

$

178.06

88.4

%

5.5

3.56

%

Pre-funded warrants - April 2023

8,782

$

0.01

88.4

%

5.5

3.56

%

Representative’s warrants - April 2023

691

$

196.04

96.3

%

5.0

3.57

%

Common stock warrants - October 2023

235,345

$

19.14

89.1

%

5.0

4.74

%

Pre-funded warrants - October 2023

126,380

$

0.06

89.1

%

5.0

4.74

%

Representative’s warrants - October 2023

7,845

$

21.05

89.2

%

5.0

4.74

%

Cash Exercise

Cashless Exercise

  

Stock Price

$

342.49

$

342.49

Exercise Price

$

928.00

$

0.00

Term (years)

5.00

5.00

Volatility

96.50

%

96.50

%

Risk Free Rate

3.784

%

3.784

%

Dividend Yield

0

%

0

%

    

Warrants

    

Strike Price

    

Volatility

    

Expected Term

    

Risk Free Rate

Reload warrants - June 2022

1,290

$

1,933.14

64.8

%

7.5

3.32

%

Reload warrants - November 2022

995

$

870.00

84.3

%

5.5

4.21

%

Representative’s warrants

50

$

870.00

84.3

%

5.0

4.23

%

Pre-funded warrants

170

$

2.90

84.3

%

5.5

4.21

%

Monte Carlo Simulation Model    
Schedule of Warrant Assumptions Used to Calculate Fair Value  

    

Warrants

    

Strike Price

    

Volatility

    

Expected Term

    

Risk Free Rate

Common stock warrants - November 2023

185,604

$

13.34

86.9

%

5.5

4.40

%