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Stockholders’ Equity (Tables)

6 Months Ended

Jun. 30, 2024

Equity [Abstract]

Schedule of Shares and Warrants Issued

The following table describes the shares and warrants issued as part of our 2022 and 2020 private placements:

Schedule of Shares and Warrants Issued

Issuance of Common Stock		Issue Date		Shares Issued				Price per share				Warrants Issued				Warrant Exercise Price				Warrant Fair Value
Private Placement 2022		April 1, 2022			1,242,588			$	4.62				124,258			$	4.62			$	3.91
Private Placement 2020		March 2, 2020			955,000			$	4.00				95,500			$	4.00			$	3.90

Schedule of Warrants to Purchase Common Stock

The following sets forth the warrants to purchase our common stock that were outstanding as of June 30, 2024:

Schedule of Warrants to Purchase Common Stock

Warrants Outstanding		Warrant Exercise Price				Warranty Expiry
124,258		$	4.62			March 30, 2027
95,500		$	4.00			March 30, 2027
16,000		$	9.00			March 30, 2027
17,200		$	12.50			March 30, 2027
3,000		$	15.00			March 30, 2027

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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
-Name Accounting Standards Codification
-Topic 718
-SubTopic 10
-Section 50
-Paragraph 1
-Subparagraph (a)
-Publisher FASB
-URI https://asc.fasb.org/1943274/2147480429/718-10-50-1

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