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Capital Stock and Warrants | 3 Months Ended
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Mar. 31, 2024
Capital Stock and Warrants |
Capital Stock and Warrants | NOTE 6: Capital Stock and Warrants The following tables summarize convertible preferred stock authorized and issued and outstanding as of March 31, 2024: ​
​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​
​ |  | ​ |  | Shares |  | Proceeds Net |  | Aggregate
​ | ​ | Shares | ​ | Issued and | ​ | of Issuance | ​ | Liquidation
​ | ​ | Authorized | ​ | Outstanding | ​ | Costs | ​ | Preference
Series A Preferred Stock | ​ | 8,936,015 | ​ | 1,418,381 | ​ | $ | 614 | ​ | $ | 1,267
Series B Preferred Stock | ​ | 4,707,501 | ​ | 3,498,859 | ​ | ​ | 7,098 | ​ | ​ | 7,138
Series m Preferred Stock | ​ | 6,666,666 | ​ | 1,775,586 | ​ | ​ | 4,611 | ​ | ​ | 5,327
Series m - 1 Preferred Stock | ​ | 333,334 | ​ | — | ​ | ​ | — | ​ | ​ | —
Series m-2 Preferred Stock | ​ | 1,660,756 | ​ | 160,000 | ​ | ​ | 480 | ​ | ​ | 480
Series m-3 Preferred Stock | ​ | 3,490,658 | ​ | — | ​ | ​ | — | ​ | ​ | —
Series m-4 Preferred Stock | ​ | 4,502,061 | ​ | — | ​ | ​ | — | ​ | ​ | —
Series S Preferred Stock | ​ | 13,108,333 | ​ | 2,620,258 | ​ | ​ | 21,212 | ​ | ​ | 20,962
Total Preferred Stock | ​ | 43,405,324 | ​ | 9,473,084 | ​ | $ | 34,015 | ​ | $ | 35,174
​ A summary of the Company’s outstanding warrants as of March 31, 2024 is as follows: ​
​ | ​ | ​ | ​ | ​ | ​ | ​ | ​
Class of shares |  | Number of Warrants | ​ | Exercise Price |  | Expiration Date
Series m-3 Preferred Stock | ​ | 1,432,786 | ​ | $ | 4.0000 | ​ | December 31, 2027
Series S Preferred Stock | ​ | 2,941,814 | ​ | $ | 4.5000 | ​ | December 31, 2027
Class A Common Stock | ​ | 1,138,446 | ​ | $ | 3.2500 | ​ | October 13, 2027
​ Common Stock Reserved for Future Issuance Shares of common stock reserved for future issuance relate to outstanding preferred stock, warrants and stock options as follows: ​
​ | ​ | ​
​ |  | March 31,
​ | ​ | 2024
Series A Preferred Stock | ​ | 1,418,381
Series B Preferred Stock | ​ | 3,498,859
Series m Preferred Stock | ​ | 1,775,586
Series m-2 Preferred Stock | ​ | 160,000
Series S Preferred Stock | ​ | 2,620,258
Stock options to purchase common stock | ​ | 8,864,302
Warrants outstanding for future issuance of convertible preferred stock and common stock | ​ | 5,513,046
Stock options available for future issuance | ​ | 1,304,455
Total shares of Class A Common Stock reserved | ​ | 25,154,887
​ At-the-Market Offering Program In February 2023, the Company commenced an at-the-market offering program with H.C. Wainwright & Co., LLC (“Wainwright”), as sales agent, in connection with which the Company filed a prospectus supplement filed on February 9, 2023 (the “February Prospectus Supplement”), allowing the Company to offer and sell from time to time up to $20.0 million in shares of Class A Common Stock, subject to, and in accordance with, SEC rules. Pursuant to General Instruction I.B.6 of Form S-3, the February Prospectus Supplement provided that in no event would the Company sell any securities in a public primary offering with a value exceeding one-third of the Company’s non-affiliated public float in any 12-month period unless the Company’s non-affiliated public float subsequently rose to $75.0 million or more. On August 18, 2023, after the Company’s non-affiliated public float subsequently rose to an amount greater than $75.0 million, the Company filed a new prospectus supplement (the “August Prospectus Supplement”) providing for the offer and sale from time to time of up to $25.0 million in shares of Class A Common Stock subject to, and in accordance with, SEC rules. During the three months ended March 31, 2024, the Company issued 13,512,738 shares of Class A Common Stock under the at-the-market offering program for net proceeds of approximately $7.1 million, net of brokerage and placement fees of approximately $0.3 million.

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